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RAPAPORT... Tiancheng International's jewelry and jadeite spring sale in Hong Kong garnered nearly $38 million (HKD 300 million) and was 74 percent sold by lot.
The top lot of the auction (pictured), a jadeite and diamond demi-parure, sold for $3.78 million against a presale estimate of between $3.2 million and $3.85 million. The set was comprised of eight intense emerald green jadeite cabochons, accentuated with diamonds of 73.55 total carat weight, highlighting what the auction house defined as a "perfect marriage" of Chinese and western cultur e.
Another top lot was titled “Eternity of Love,” a 25.72-carat, D, VS2 heart-shaped diamond ring, which sold at the high end of its estimate for $3.18 million. Tiancheng stated that the stone was cut from a 67.45-carat rough diamond and graded with excellent polish and symmetry.
“The Flare of Crimson,” a 52.22-carat, natural and unheated Mozambican “Pigeon’s Blood” ruby and diamond necklace, achieved $3.18 million in the sale. The piece featured 22 rubies, accentuated with diamonds of a 59.60 total carat weight. In addition, “The Golden Splendor,” a 59.93-carat fancy deep orange-brown diamond ring sold for $2.3 million against a presale estimate of between $1.92 million and $2.44 million.
Wang Jie, the managing director of Tiancheng International, said, “We are delighted to see so many bidders participating in the auction. It was a testament of the robust jewelry auction market in Asia. Also notable is that we achieved 85.4 percent sold rate in the western jewelry section. The strong result demonstrates the continuous support of our buyers and all connoisseurs. We will continue to present exquisite treasures that are highly potential in collectible and investment value to all jewelry collectors in the autumn auction 2015.”
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