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Top Jewels Fail to Sell at Sotheby’s Auction

Apr 8, 2018 4:09 AM   By Rapaport News
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RAPAPORT... A blue diamond ring and a jadeite bracelet both failed to find buyers at Sotheby’s Hong Kong sale.

Most notable of the unsold lots from the April 3 auction was a 14.18-carat, fancy blue, VVS2-clarity diamond ring, surrounded by pink diamonds, which was estimated at $6 million to $7.7 million.

A jadeite bangle — known as the “Circle of Heaven” — with an estimate of $10.2 million to $12.8 million, also did not sell. A pair of jadeite and diamond earrings, estimated at $1.9 million to $3.2 million, and a matching jadeite and diamond ring — carrying an estimate of $2.3 million to $3.6 million — similarly lacked a buyer. The jadeite market is “price-sensitive,” Sotheby’s Asia deputy chairman Quek Chin Yeow noted .

Important lots that did sell included a cushion-shaped, 24.70-carat ruby ring, surrounded by diamonds, which fetched $11 million — having carried an estimated price of $10.5 million to $11.8 million. A yellow diamond ring was bought for $2.8 million, while a pair of diamond pendant earrings sold for $2.9 million. A Van Cleef & Arpels bracelet with diamonds and gemstones yielded $1.2 million, exceeding its high estimate.

The auction garnered total sales of $48.6 million, with 61% of lots sold.

Image: Sotheby’s
Tags: Blue diamond, jadeite bangle, Quek Chin Yeow, Rapaport News, Sotheby’s, Sotheby’s Hong Kong, Van Cleef & Arpels
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