Top Jewels Fail to Find Buyers at Poly Auction Sale

Some of the items that didn't sell at the Poly Auction image

A jadeite, ruby and diamond necklace estimated to fetch HKD 58 million ($7.5 million) at a recent jewelry sale at Poly Auction was among a number of top lots that remained unsold.

The piece, which the company originally expected to lead the October 7 Magnificent Jewels sale, was withdrawn, according to Poly Auction. A ring with a cushion-shaped, 5.21-carat Burmese ruby in a marquise, pear and circular-cut diamond surround was also withdrawn. That jewel had a high price tag of HKD 10 million ($1.3 million).

Meanwhile, a ring bearing a rectangular-shaped, 27.16-carat Colombian Muzo emerald encased by rectangular-shaped yellow diamonds, circular-cut pink diamonds and white diamonds failed to find a buyer. It had a top estimate of HKD 9.5 million ($1.2 million). Another withdrawn lot was a pair of earrings featuring pigeon’s blood Burmese rubies weighing 3.03 and 3.02 carats and diamonds, which the auction house predicted would bring in up to HKD 8 million ($1 million).

Here are the top five items that sold at the auction:

A ring with a jadeite cabochon in a circular-cut diamond surround at Poly Auction image
A ring with a jadeite cabochon in a circular-cut diamond surround brought in HKD 3 million ($385,566), just under its low estimate.
This necklace has 49.18 carats of oval and cushion-shaped, pigeon’s blood Burmese rubies, as well as pear and circular-cut diamonds at Poly Auction image
This necklace has 49.18 carats of oval and cushion-shaped, pigeon’s blood Burmese rubies, as well as pear and circular-cut diamonds. It fetched HKD 2.4 million ($308,460), below its price range.
Graff designed this ring, which contains a cushion-shaped, 8.20-carat, fancy-vivid-yellow diamond at Poly Auction image
Graff designed this ring, which contains a cushion-shaped, 8.20-carat, fancy-vivid-yellow, VVS1-clarity diamond. It realized HKD 2.3 million ($293,038), meeting expectations.
This  ring has an oval-shaped, 8.02-carat, E-colored diamond with baguette and circular-cut diamond shoulders at Poly Auction image
Poly Auction sold this ring, which has an oval-shaped, 8.02-carat, E, VS1 diamond with baguette and circular-cut diamond shoulders, for HKD 1.3 million ($169,653), within its price range.
A Bulgari creation, this Serpenti bracelet features diamonds, pink sapphire and amethyst by Poly Auction image
A Bulgari creation, this Serpenti bracelet features diamonds, pink sapphire and amethyst. It went for HKD 1.1 million ($138,807), under its lower price.

Image: Some of the items that didn’t sell. (Poly Auction)

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Top Jewels Fail to Find Buyers at Poly Auction Sale

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