The Crimson Flame Ruby sets auction record at Christie's



2015-12-02 10:44:36

A highly rare ruby known as The Crimson Flame has set a new auction record at Christie's in Hong Kong.

Weighing an impressive 15.04 carats, the pigeon blood red ruby originated from historic mines in Burma's Mogok valley, and was described by experts as "an exceptional treasure".

Set in a ring with a cushion-shaped diamond surround, the Crimson Flame ruby surpassed its estimate to sell for HK$142 million (US$18 million), setting a new auction record for a ruby per carat.

“It’s the year of the ruby at Christie’s Hong Kong," said Vickie Sek, Deputy Chairman Asia & Director of Christie’s Asia Jewellery department. "Following the record breaking sale of a ruby necklace in June, the Crimson Flame has established a world auction record per carat of US$1.2 million. Totalling US$97 million, this sale brings our Hong Kong jewellery auctions total up to US$215 million, the highest annual result ever achieved for the category in Asia.”

The ruby was the leading lot of Christie's Magnificent Jewels sale, which realized a total of HK$747,894,000 (US$96,904,062) with sell-through rates of 80% by lot and 83% by value.

The auction, which attracted bidding from 16 countries on three continents, also saw the record-breaking sale of the 10.11 carat Afghan Emerald, which sold for HK$17.6 million (US$2.2 million), the highest price ever paid for a stone of its kind.

There were also strong results for a double-strand natural jadeite bead and diamond necklace which sold for HK$58,360,000 ($7,565,557); a ruby and diamond necklace by Faidee which brought HK$55,560,000 ($7,202,576); a fancy intense pink diamond ring which sold for HK$48,280,000 ($6,258,826); and a magnificent jadeite ring which realized HK$29,240,000 ($3,790,557).


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