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Christie’s Breaks Auction Record with $18M Ruby Sale

Dec 3, 2015 7:28 AM   By Rapaport News
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RAPAPORT... Christie’s sold an “exceptionally rare” Burmese ruby for $18 million (HKD 142 million) at its Magnificent Jewels auction in Hong Kong, setting a world auction record for a ruby of $1.2 million per carat.

In addition to the ‘The Crimson Flame,’ the auctioneer also sold the flawless ‘Afghan Emerald’ for $2.2 million, the highest-ever auction price for an Afghan emerald, Christie’s said in a statement December 1.

“It’s the year of the ruby at Christie’s Hong Kong,” said Vickie Sek, the auction house’s deputy chairman for Asia and director of the group’s Asia jewelry department. “Totaling $97 million, this sale brings our Hong Kong jewelry auctions total up to $215 million, the highest annual result ever achieved for the category in Asia.”

Christie’s sold 80 percent by lot and 83 percent by value at the event, attracting 160 buyers from 16 countries.

The sales come after the auctioneer sold a 120-carat Burmese ruby and diamond necklace for $13 million in Hong Kong in June, setting a world auction record for the price of a ruby necklace.
Tags: Auctions, Christie's, colored gemstones, Hong Kong, Rapaport News, ruby
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