Pent-up demand from affluent mainland Chinese has helped lift the prices for top-grade jadeite pieces. At Sotheby’s Hong Kong’s 50th Anniversary Luxury Evening Auction: The Exceptionals in April, the Emperor’s Treasure, a magnificent necklace comprising 43 imperial green jadeite beads, ranging from 11.55mm to 13.05mm in diameter with a clasp encrusted with rubies and diamonds, fetched HK$61.5 million. At Sotheby’s Magnificent Jewels: Part I auction, an exquisite pendant with a carved jadeite piece accented with diamonds went for HK$23.44 million.

Jadeite has a symbolic significance to Sotheby’s high jewellery auctions held in Hong Kong. “This magnificent green gem not only reflects Asia’s cultural significance, it was also the first jewellery category that Sotheby’s offered in the region almost five decades ago,” said Wenhao Yu, chairman, jewellery and watches, at Sotheby’s Asia.

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A piece using this rare gemstone also achieved a world record at Poly Auction’s Magnificent Jewels and Important Watches Sale in April. A “magnificent imperial jadeite bangle” commanded HK$60 million, a new world auction record for the jadeite bangle category. Cylindrical, measuring 73.48mm by 52.72mm by 10.51mm and carved from the highly coveted “old pit mine” jadeite, it displays exceptional translucence and colour saturation.

Few designs with coloured gemstones are as iconic as Cartier’s Tutti Frutti pieces. At Sotheby’s The Exceptionals auction, a Cartier Tutti Frutti bracelet watch fetched HK$11.9 million, while a Tutti Frutti set of necklace and earrings was sold for HK$25.9 million.

The appeal of well-known brands and coloured gemstones was equally strong to bidders at Poly Auction’s spring sale. A Van Cleef & Arpels’ ring topped with a rare 23.49-carat Burmese royal blue sapphire, accented with diamonds, was sold for HK$8.88 million, the auction’s second highest price, while a ring with a 13.09-carat fancy vivid yellow diamond by Tiffany & Co. realised HK$6.6 million.

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In coming auctions, the rarest gems in vivid colours, whether coloured gemstones or natural fancy-coloured diamonds, will continue to be the main attractions.

Christie’s Hong Kong’s Magnificent Jewels Spring Auction in late May will feature a trio of pear-shaped internally flawless fancy-coloured diamonds. The headline piece is a ring crowned with a 4.83-carat fancy vivid blue internally flawless pear-shaped diamond, estimated to fetch between HK$55 million and HK$80 million. The second ring is set with a 4.08-carat fancy intense pink, internally flawless pear-shaped diamond (HK$25.5 million to HK$35 million). Rounding off this symphony of colour is the ring set with the Golden Flame, an 8.92-carat fancy vivid yellow-orange internally flawless pear-shaped diamond (HK$20 million to HK$30 million).

The top lot at Bonhams’ Hong Kong Jewels and Jadeite sale, also in late May, is a ring with an exceptional 7.07-carat Burmese pigeon’s blood ruby, in rectangular cushion-shaped mixed-cut, accompanied with a certificate showing that it has not undergone any treatment. This ruby is surrounded by eight oval diamonds, all in D colour, and of clarity from VVS1 to VS1. The estimated price of this ring starts at HK$6.8 million.

One of the largest faceted sapphires ever to appear at auctions will be unveiled at Phillips’ Jewels and Jadeite auction in May. It’s a Bulgari necklace set with a 118.35-carat unheated Ceylon sapphire in royal blue. The estimated price is from HK$24 million.

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Gem connoisseurs will also eagerly watch the sale of a highly anticipated 55.22-carat ruby, with an estimated price of up to US$30 million, which was previewed in Hong Kong before it goes under the hamme at Sotheby’s Magnificent Jewels auction in New York in June. Originally cut from a 101-carat rough ruby unearthed in Mozambique, the Estrela de Fura is the largest gem-quality ruby in existence, and the largest and most valuable ruby to ever appear at an auction.