A breathtaking 120-carat Burmese ruby-and-diamond necklace sold for $13 million at Christie’s Hong Kong Magnificent Jewels sale last week, setting an auction record for the highest price ever paid for a ruby necklace.
The regal neckpiece by Etcetera was the top lot in a high-powered sale that produced two other jewelry record breakers: a high-domed jadeite cabochon necklace that fetched $5.7 million and a 10.33-carat Kashmir sapphire ring that sold for $2.5 million.
The jadeite now holds the record for the highest price ever paid for a jadeite cabochon. The sapphire ring’s per-carat price was the highest ever paid for a sapphire.
Overall, the Christie’s sale generated nearly $117.9 million, making it the most valuable jewelry auction the Asian market has ever seen.
Christie’s described the top lot of the night as an articulated brilliant-cut diamond lattice-work band centering on a line of graduated pear-shaped diamonds and framed by two rows of oval and cushion-shaped rubies ranging from 7.02 carats to 1.10 carats.
The 18-karat white gold necklace features 48 Burmese rubies with a total weight of 120 carats. Each ruby displays the highly desirable “pigeon's blood” color. The $13 million sale price exceeded Christie’s high estimate by more than $1.5 million.
Selling for $5.7 million and topping Christie’s high estimate by nearly $750,000 was this jadeite, ruby and diamond pendant necklace. The jadeite cabochon, which boasts a vivid emerald green color and high translucency, measures 26.1 x 21.3 x 14.5 mm and is surmounted by a cabochon ruby.
Christie’s third record setter was this 18-karat gold ring set with an extremely rare circular-cut 10.33-carat Kashmir sapphire. The vibrant center stone is accented with a brilliant-cut diamond two-tiered surround. The selling price of $2.5 million was slightly higher than Christie’s high estimate of $2.3 million.