Jadeite necklace sets new auction record in Hong Kong
A highly rare Jadeite necklace has set a new world record at auction.
The necklace, offered along with a matching ring, was amongst the star lots of the Tiancheng International Jewellery and Jadeite auction, held at the Bank of China Tower in Hong Kong.
Described as a " a true treasure of nature", the necklace crossed the block with an opening bid of HK$55 million. Moments later, following ten further furious bids, the necklace sold for an incredible HK$92.04 million (US$11.8 million), setting a new world record auction price for cabochon jadeite.
“We are very pleased to see such an enthusiastically-received sale today, with bidders joining from China, Hong Kong, Taiwan and the rest of the world," said Mr. Stewart Young, Director of Tiancheng International’s Jewellery Department.
"The heated bidding tells the market’s strong demand for the high-end jewellery, testifying the success of Tiancheng International’s focus on such a niche. Of captivating translucency and fine texture, every cabochon emanates spectacular sheen, with size measuring up to 25.10 x 20.39 x 8.55mm. It is extremely exquisite to match eleven full-bodied cabochons of similar size and luminous saturation, making this an astonishing treasure of impeccable quality.”
“It was a great success," added Said Wang Jie, Managing Director of Tiancheng International. "We are very delighted with the outstanding result of this necklace set. Tiancheng International, the buyer and the consignor are excited by the fetched price. This magnificent jadeite necklace set will be inherited with a unique name entitled by the buyer. We are extremely proud to achieve this important deal.”
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