‘Crimson Flame’ ruby sets world record at Christie’s HK auction

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Jewellery News Asia

Crimson Flame Ruby

Crimson Flame Ruby

An exceptional 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 pre-sale estimates.

The ‘Crimson Flame,’ a rare 15.04-carat cushion-shaped Burmese ruby, fetched a record-setting per carat price of US$1.2 million, according to the auction house.

Christie’s Magnificent Jewels auction realised HK$747,894,000 (US$96,904,062), selling 80 percent by lot and 83 percent by value.

Vickie Sek, deputy chairman for Asia and director of Christie’s Asia Jewellery Department, commented, “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.” READ MORE…

About Rob

I have been designing military coins and jewelry for nearly 40 years now.