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Sotheby’s Hong Kong Sale Brings In $50M

April 16, 2023  |  Leah Meirovich
Sothebys Pink diamond earrings Magnificent Jewels HK

The Magnificent Jewels auction at Sotheby’s in Hong Kong raked in $49.6 million earlier this month, despite the omission of several top pieces from the results.

The lead item at the April 4 sale was a pair of earrings, each set with a pear-shaped, fancy-pink, VVS1-clarity diamond, with one weighing 11.17 carats and the other 10.85 carats. That set sold to Switzerland-based manufacturer Diacore for HKD 48.2 million ($6.1 million), within its presale price range.

A pair of unmounted brilliant-cut, D-flawless diamonds weighing 21.14 and 20.17 carats scored HKD 38 million ($4.8 million) against a high estimate of HKD 40 million ($5.1 million). Meanwhile, a diamond fringe necklace by Harry Winston, which contained nine suspended pear-shaped, D-color, internally flawless diamonds weighing between 2.04 and 14.93 carats, was sold without reserve. That piece went for HKD 30.7 million ($3.9 million), below its HKD 35 million ($4.5 million) low estimate.

At the 50th Anniversary Luxury Evening Auction, Sotheby’s sold a jadeite, ruby and diamond necklace, named the Emperor’s Treasure, for HKD 61.5 million ($7.8 million). The auction house had predicted the piece would fetch more than $5 million.

However, a number of big-ticket items did not appear in the results Sotheby’s released or on the company’s list of sold items on its website. A spokesperson did not respond to a request for comment on whether the items had found buyers.

The following lots were absent from the sales results:

This cushion-shaped, 10.05-carat, fancy-vivid-purplish-pink diamond, known as the Pink Dawn, was estimated at up to HKD 168 million ($21.4 million).
The Algeiba Star, which was due to lead the evening sale, is a cushion-shaped, 133.04-carat, fancy-vivid-yellow, VS2-clarity diamond, surrounded by fancy-intense and fancy-yellow diamonds. It carried a high price tag of HKD 70 million ($8.9 million).
A ring bearing an oval-shaped, 5.49-carat, fancy-intense blue, internally flawless diamond was expected to bring in up to HKD 50 million ($6.4 million).
This necklace bearing an octagonal step-cut, 80.26-carat Burmese sapphire suspended from a chain of diamonds had an upper price tag of HKD 45 million ($5.7 million).
An unmounted brilliant-cut, 38.88-carat, D-flawless, type IIa diamond was set to fetch up to HKD 40 million ($5.1 million).

Main image: The fancy-pink diamond earrings. (Sotheby’s)


Sothebys Pink diamond earrings Magnificent Jewels HK Sotheby’s Hong Kong Sale Brings In $50M

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