A 12.11-carat fancy intense blue diamond ring headlined the Hong Kong Magnificent Jewels auction by Christie’s, affirming the market’s sustained appetite for fine-quality fancy colour diamonds.

The ring, which sold for HK$122.38 million (US$15.9 million) with a price per carat of US$1.31 million, was the top lot and sold after more than 15 minutes of bidding.

Christie’s achieved a total of HK$306.61 million or about US$39.8 million during the July 9 auction.

Vickie Sek, chairman, Jewellery Asia Pacific, commented, “Collectors from 14 countries and five continents around the world bid enthusiastically for some of the most coveted jewels offered at Christie’s Hong Kong, achieving strong prices for top-quality fancy colour diamonds, jadeite and rubies."

She described the sale of the blue diamond ring as an "exceptional result" that reflects a robust global demand in the market. 

Other top lots were a 19.53-carat Burmese star ruby pendant necklace by Etcetera, which sold for HK$20.52 million (US$2.66 million); and a pair of jadeite, ruby and diamond earrings, which fetched HK$9.96 million (US$1.29 million), beating a pre-sale low estimate of HK$3.8 million (US$493,000).