The most expensive jewellery sold in Hong Kong last year – online sales by auction houses Christie’s, Phillips and Bonhams were booming despite the pandemic
- Despite less sales and an absence of physical buyers, the city’s jewellery market was kept afloat by eager online bidders logging in from all over the world
- Christie’s Hong Kong sold a 12-carat fancy blue diamond for US$15.8 million after just 15 minutes of frenzied bidding
Despite rescheduled sale dates and the lack of physical presence from overseas buyers, live jewellery auctions continued to show resilience throughout 2020, with strong sales recorded in Hong Kong.
While auction houses boosted their online sale platforms with much enhanced digital infrastructure and an increased variety of items on offer, competitive bidding for highly coveted items continued to generate excitement at live auctions and record prices were realised as a result. The absolute top lots sold at live jewellery auctions held in Hong Kong, ranging from premium-quality natural fancy coloured diamonds to jadeite designs, also reflect the diversity of tastes and preferences among the international clientele in the market.
The highest-priced item at a Hong Kong live auction in 2020 was a ring with a 12.11-carat fancy intense blue internally flawless diamond, flanked by white diamonds. Fifteen minutes of spirited bidding by live and telephone bidders at the in-person Christie’s “Hong Kong Magnificent Jewels” July auction pushed the hammer price of this piece to HK$122.38 million (US$15.8 million), with a per-carat price of US$1.31 million.