In a sort of record, a ruby and diamond ring set a world record at Christie’s Magnificent Jewels sale in Hong Kong when it sold for HK$142 million-US$18 million, beating all estimates. In all, Christie’s Magnificent Jewels auction realised HK$747,894,000 or US$96,904,062, selling 80 percent by lot and 83 percent by value. 

The exceptional ruby and diamond ring comes with a Swiss Gemmological Institute SSEF report stating that it has no indications of heating while its colour may be called ‘Pigeon Blood’ red in the trade. Its vivid and saturated colour is due to a combination of well-balanced trace elements in the stone, a characteristic of the finest rubies from Mogok, Burma. 

As Vickie Sek, deputy chairman for Asia and director of Christie’s Asia Jewellery Department, elaborates, “It’s the year of the ruby at Christie’s Hong Kong. Totalling US$97 million, this auction brings our overall Hong Kong jewellery sales to US$215 million, the highest annual result ever achieved for this category in Asia.”