JNA March/April 2025 | 11 FOCUS 焦点 The jewellery auction market in 2024 has shown resilience, reflecting stable demand for high-quality pieces that buyers were keen on investing in compared to mid-market items. – Uni Kim, co-head of Sale and specialist, Jewellery at Sotheby’s Asia Over at Sotheby’s, fancy colour diamonds and signed jewels were major growth drivers. Uni Kim, co-head of Sale and specialist, Jewellery at Sotheby’s Asia, explained, “Works that showcase uniqueness and rarity, both in terms of design and history, are highly coveted, with a special focus on single-owner collections.” At its Magnificent Jewels sale in Hong Kong last April, Sotheby’s offered a 7.01-carat fancy vivid yellowish-orange diamond ring, which attained HK$29.5 million (around US$3.7 million) and a Jacques Timey for Harry Winston sapphire and diamond ring, which was purchased for HK$19.81 million (about US$2.53 million). Kim also highlighted The Phillips Family Collection from Japan offered in April 2024, which achieved a 100 per cent sell-through rate, with 60 per cent of the items surpassing high pre-sale estimates. Bucking the colour trend was the Fortune Five Unmounted Diamond, a 55.55-carat Type IIA oval brilliant-cut white diamond that generated US$5.8 million at Sotheby’s Hong Kong in April last year. Apart from signed pieces, antique and vintage jewellery were also winners, having exceeded pre-sale valuations at Sotheby’s October auctions, added Kim. A few notable examples were a “Zip” diamond necklace and a “Bals de légende” turquoise, onyx and diamond clip brooch from Van Cleef & Arpels. Evolving landscape Despite a steady level of bidding enthusiasm observed in 2024, buyers remained cautious due to economic instability, noted Fung Chiang, head of the Jewels, Watches and Handbags Department of Poly Auction Hong Kong. And while demand for natural colourless diamonds was down, fine coloured gems and luxury signed pieces with investment and collection value were highly sought after, he added. Kim of Sotheby’s agreed, adding that this preference for rarity reflects a broader consumer desire for special pieces that tell a story. both fancy colour diamonds as well as coloured gemstones in our global salesrooms.” In June 2024, Bonhams auctioned off the “Toi Et Moi” ring adorned with fancy intense blue and fancy purple-pink diamonds by Mouwad for US$3.76 million in London. This growing penchant for colours became more pronounced during subsequent auctions. At a single-owner sale in Bonhams New York in September 2024, a buyer snapped up an 8.68-carat emerald and diamond ring by Oscar Heyman for US$508,500 while a Paraiba tourmaline and diamond ring achieved US$533,900. Another pink diamond made it to the list of topperforming lots last year – a 6.21-carat fancy vivid pink diamond ring, which attained US$12 million at Phillips Geneva. Appetite was likewise steady for red diamonds, the rarest of all fancy diamond colours, according to Janet Lam, senior specialist at Phillips Jewels. Phillips achieved a world record price for “The Argyle Phoenix,” a 1.56-carat fancy red diamond ring, which raked in US$4.2 million. Coloured gemstones also enjoyed the limelight. A 280.84-carat emerald, called “The Amazon Queen,” which sparked a 30-minute bidding war, sold for over US$3 million at Phillips Geneva. Auction houses similarly observed mounting fascination for signed jewels at last year’s auctions. “There is strong demand for discontinued, one-of-a-kind and limited-edition signed pieces,” said Hsu of Christie’s. “For example, an ‘India Tutti-Frutti’ necklace by Cartier realised HK$67.7 million (around US$8.7 million) in Hong Kong after over 10 minutes of competitive bidding.” The multi-gem ‘India Tutti-Frutti’ necklace by Cartier was snapped up for HK$67.7 million (around US$8.7 million) at Christie’s Hong Kong 镶嵌多颗宝石的卡地亚India Tutti-Frutti项链，于佳士得香港 地区拍卖会以6,770万港元(约870万美元)成交
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