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Monday, October 7, 2013

Sotheby's Auctions 118+ carat Diamond in Hong Kong Sale

Sotheby’s 40th Anniversary in Hong Kong continued today with the auction of Magnificent Jewels and Jadeite Sale, which concluded with stunning results.  


The 118.28-carat Oval D-Colour Flawless Diamond fetched HK$238.68 million / US$30.6 million (Est. HK$220 – 280 million / US$28 – 35 million) and set World Record for any White Diamond at Auction in addition to being the Largest White Diamond Ever Sold at Auction. The sale total of HK$744,693,750 / US$95,473,557 (total estimate in excess of HK$900 million / US$110 million) set the Highest Ever Total for a Jewellery Sale in Asia.  


Quek Chin Yeow, Deputy Chairman, Asia and Chairman, International Jewellery, Asia, said after the sale, “We are thrilled to achieve a new world record for a white diamond at auction when a 118.28-carat D-Flawless diamond sold for of HK$238.68 million / US$30.06 million. We are also extremely happy to achieve the highest total for a sale of jewellery in Asia at HK$744,693,750 / US$95,473,557, a befitting occasion for Sotheby’s 40th anniversary in Asia. 

The top two jadeite lots were highly contested for by several Asian collectors, resulting in excellent prices, particularly the double-strand jadeite bead necklace which sold for HK$42.68 million / US$5,471,795. Overall the auction was very well attended with many bidders on the phone from all over Asia and beyond.”






Sotheby’s has been uniting collectors with world-class works of art since 1744. Sotheby’s became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby’s presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby’s BIDnow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby’s offers collectors the resources of Sotheby’s Financial Services, the world’s only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, and two retail businesses, Sotheby’s Diamonds and Sotheby’s Wine. Sotheby’s has a global network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).
Website - www.sothebys.com or through Sotheby’s Catalogue iPad App


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