Auction house Bonhams sold its top lot, an important Kashmir sapphire and diamond ring, for more than US $400,000 (HK $3,279,000) in its Hong Kong sale earlier this month, and achieved strong results for other gemstones and high jewellery pieces, underscoring the resilience of the market for magnificent and rare jewellery.
The ring was set with a cushion-shaped sapphire, weighing 6.99 carats, within a pavé-set diamond surround.
Stewart Young, Director of Jewellery and Head of Jewellery, Asia, said, “Traditional coloured gemstones of superb quality, such as the star lot from the esteemed Kashmir mine, continue to command strong prices.
“But at the same time, we are also delighted to see that collectors are happy to pay top prices for newly-trending gemstones such as the Brazilian Paraiba tourmaline.
“Thanks to strong and international bidding, all 21 pieces of classic Buccellati jewellery from an Asian private collection were sold, with a total doubling its pre-sale estimate. This reaffirms Bonhams’ strength of presenting single-owner collections to a global audience to great success.”