Sotheby's Hong Kong began its autumn auction season in style on October 9th with a mighty US $50million dollar sale in magnificent jewellery and jadeite jewels. The star lot was a D/IF Riviere Diamond Necklace by Nirav Modi, at an impressive 88.88ct, selling for $5.1million.
The autumn sale marks yet another example of how the Far East is fast laying claim to some of the best lots up for auction worldwide. Quek Chin Yeow, Deputy Chairman and Head of Jewellery, Sotheby's Asia, agrees: "A ruby ring by Cartier was the top coloured stone sold at $3.34 million, complemented by a unique cabochon ruby necklace and a pair of matching earrings designed by James W Currens, affirming the Asian market for top-quality rubies." Other notable lots included an unmounted 20.22ct round brilliant-cut D/IF diamond, which went for $4.1million, and a 10.15ct fancy pink diamond and diamond ring, which sold for $3.2million.
With this sale for Sotheby's, and Christie's recent £30million haul, while the autumn leaves are falling, it looks like the only way is up for magnificent jewel prices.