Diamonds And Jadeite – Tiancheng International: Hong Kong
Tiancheng International’s Spring Auction of diamonds and jadeite in Hong Kong totaled over $39 million. 70.6% was sold by lot, and two individual lots were tied for the highest prices achieved throughout the sale. Natural jadeite and diamond ring along with a magnificient natural jadeite and diamond pendant titled “Laughing Buddha“, both selling for $2,798,718.
Other notable and top lots were a $2,723,077 sale for a natural jadeite and diamond demi-parure, $1,815,385 jadeite and mother of pearl and diamond ring sale and lastly a $1,664,103 15.07 carat Burmese unheated ruby and diamond ring sale.
“We are very pleased to see such an enthusiastically received sale today, with bidders joining from China, Hong Kong, Taiwan, Japan, Thailand and even as far as Europe. The heated bidding tells of the market’s strong demand for the high-end jewelry, testifying the success of Tiancheng International’s focus on such a niche” said Stewart Young, the director of Tiancheng International’s jewelry department.
“In recent years, the abundance of top-quality gemstones is evidently dwindling, while global warming also does critical damages on natural jewels such as the natural pearl. In the times when exquisite jewelry becomes hard to come by, we are particularly glad to still be able to garner the finest collection in our auction. Seeing the thriving auction market, some consignors opt for the ‘no-reserve’ strategy, leading to a win-win result for both buyers and sellers. Take our pair Of jadeite ‘Ruyi’ and diamond pendent earrings, for instance, the lot attracted an intense round of 36 bids before selling for $33,282 against a presale estimate of $10,000 to $15,000, exceeding three times its estimate. Such an encouraging result proves the popularity of the ‘no reserve’ section,” Young said.