CHRISTIE’S HONG KONG DIAMOND SALE NETS $75 MILLION

Auction house Christie’s took in $75 million last Tuesday at its « Magnificent Jewels » auction in Hong Kong, Diamond World reported. A vast majority of the buyers, about 90%, live in the Pacific rim countries themselves, and these accounted for sales of all the largest lots of the night.

The single largest cash draw at the auction was a Burmese ru
by and polished diamond necklace by James Currens, which sold for over $5 million. In second place was a pair of 23-carat Colombian emeralds, purchased for over $4 million. These were followed by a pair of nearly-nine-carat D flawless diamonds, sold for $3.7 million, and a 8.5-carat fancy pink diamond ring by JAR, which netted over $3.5 million.

Christie’s Asia Jewelry and Jadeite Department director Vickie Sek acknowledged that bidding over the course of the day was competitive and said that this confirmed Hong Kong’s importance as a global center of the diamond trade.

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