Sotheby’s Magnificent Jewels and Jadeite Auction

This dazzling 8.65-carat, step-cut sapphire ring brought in $852,872 at the Magnificent Jewels and Jadeite Auction.

On April 3, Sotheby’s Hong Kong held their Magnificent Jewels and Jadeite Auction. The auction included several lots of rare diamonds, rubies and other fine jewels from several of the world’s top private jewelry collections. The single-day auction took in $64 million, making it the second-highest grossing jewelry auction in Hong Kong to date. The auction attracted well-heeled bidders from across the globe who clamored to take home the graceful pieces up for grabs.

The auction’s top earner was a stunning 8.01-carat, emerald-cut fancy vivid blue diamond ring which sold for $12.78 million. The ring is mounted on a stunning platinum band, and the center stone is flanked by a single, shield-shaped diamond. The shield-shaped diamonds have a combined weight of 1.0 carat. The $12.78 million price tag breaks down to roughly $1,588,079 per carat. This is the second highest price per carat for a blue diamond at auction. The highest per carat sale price for a blue diamond ring was set during an October 2011 auction at Sotheby’s Hong Kong. During that auction, a 6.01-carat fancy vivid blue diamond ring was purchased for a whopping $10.1 million, or $1,686,505 per carat.

Other top performers at the Magnificent Jewels and Jadeite Auction include an 18.11-carat brilliant-cut loose diamond that sold for $39. 8million, while a gorgeous, 8.65-carat, step-cut sapphire ring brought in $852,872. A 4.11-carat, heart-shaped diamond mounted ring was one of the more understated pieces up for bid. The elegant ring sold for $41,870, nearly double its pre-auction estimate.

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