Harry Winston Peacock Brooch. Photo: Christie's
The season climaxes this month at Christie's, with strong demand at Sotheby's for jewels by Cartier
Van Cleef & Arpels, Tiffany & Co. and Bulgari
Market resilience was on full display at Hong Kong's autumn live jewellery auctions, with leading auction houses reporting enthusiastic paddle activity and strong results. Successes were widely attributed to the exceptional quality of lots on offer as well as meticulously curated catalogues that appealed to collectors.
The recent strong sales have continued the momentum from this year's spring auctions as well as those of autumn 2024. Overall, auction performance over the past two years has shown a clear recovery from the markedly subdued results of 2020 to 2022.
The catalogues of major houses showcase extensive collections across gemstone types and highly coveted jewellery brands, keeping buyers engaged and competitive. Many of these pieces hail from "blue-chip" maisons and feature exceptionally rare, certified gemstones – assets increasingly viewed by collectors as tangible investments, driving both demand and pricing.
Earrings by JAR at the upcoming Christie's auction. Photo: Handout
Sotheby's Hong Kong kicked off the autumn auction season with its High Jewelry sale in September, achieving a total of HK$223.75 million (US$1.74 million). With an 86 per cent sell-through rate and over 700 registered paddles, the event marked the highest such figures for its high jewellery sales since 2022.
Private collections performed exceptionally well, as collectors increasingly seek designs that reflect personal style. Notably, The Aria of Jewels: The Collection of a Distinguished Lady was 100 per cent sold, realising HK$41.69 million – more than double its presale low estimate of HK$19.12 million. Among the stand-out pieces was a Cartier seed pearl, coloured stone and diamond Panthère Divine sautoir, which sold for HK$3.56 million.
Signed jewels from heritage brands such as Cartier, Tiffany & Co., Van Cleef & Arpels, Bulgari, Graff and Buccellati saw robust demand from collectors.
Jadeite and diamond demi-parure at Sotheby's. Photo: Handout
The top lot at the Sotheby's auction was a ring featuring a cushion-shaped blue sapphire weighing 12.56 carats, flanked by trapeze-shaped diamonds and mounted in platinum, which fetched HK$18.68 million. The second highest price was for a ring set with a 5.07-carat cut-cornered rectangular mixed-cut fancy pink diamond, flanked by half-moon-shaped diamonds and accented by brilliant-cut diamonds, selling for HK$11.36 million. A jadeite and diamond demi-parure also impressed, selling for HK$4.45 million, more than seven times its estimate.
Positive sentiment continued at Phillips' Hong Kong Jewels Auction in late September. The auction totalled HK$42.23 million, with 71 per cent of the 95 lots sold. Nearly half of the lots benefited from Phillips' Buyer's Premium structure, which rewards early participation with lower rates for competitive bidding.
Collectors showed strong interest in white and fancy-coloured diamonds, jadeite designs and pieces from storied brands. Top prices were achieved for designs featuring exceptional coloured gemstones. The star lot – a bracelet with Colombian no oil emeralds and diamonds totalling 16.09 carats – sold for HK$3.16 million. A ring featuring a 7.15-carat Colombian no oil emerald from the legendary Muzo mine fetched HK$2.32 million, while a pair of earrings set with 2.10 and 2.05-carat Burmese unheated Pigeon's Blood rubies as well as diamonds realised HK$2.19 million. A signed Cartier ring mounted with a 20.09-carat Burmese unheated sapphire and diamonds sold for HK$1.68 million.
Cartier 20.09-carat Burmese unheated sapphire and diamond ring at Phillips' auction. Photo: Phillips
At Poly Auction's Magnificent Jewels auction in October, a jadeite and diamond ring stood out, selling for HK$3.00 million. The ring features a jadeite cabochon weighing around 27 carats, accented with diamonds. Another highlight was a necklace set with oval and cushion-shaped unheated Burmese Pigeon's Blood rubies totalling 49.18 carats, paired with pear and circular-cut diamonds, which sold for HK$2.40 million. A signed Graff ring featuring an 8.20-carat cushion-shaped fancy vivid yellow diamond and white diamonds fetched HK$2.28 million.
The season is set to climax with Christie's own Magnificent Jewels auction in late November. Leading the sale is The Royal Blue, an extraordinary necklace set with 16 cushion-shaped Kashmir royal blue sapphires ranging from 3.43 to 13.37 carats and totalling 104.61 carats. With an estimate of HK$100 million to HK$150 million, it is the most valuable jewel to be offered at auction in Asia this year.
The sale promises a vibrant array of colour and craftsmanship. Highlights include a pair of important Kashmir sapphire and diamond earrings featuring rare, no-heat royal blue sapphires; James W. Currens' Red Butterflies earrings set with Pigeon's Blood rubies ranging from 2.03 to 5.05 carats; and a bracelet adorned with 36.84 carats of Pigeon's Blood rubies and diamonds. The auction will also showcase iconic pieces from Cartier, JAR and Harry Winston.
