Kashmir Sapphire and Diamond Necklace Achieves $16.1M at Christie’s Hong Kong

Kashmir Sapphire and Diamond Necklace

A magnificent sapphire and diamond necklace was the star of Christie’s recent Magnificent Jewels auction in Hong Kong, realising HKD 125.5 million (USD 16.1 million) and comfortably landing within its estimated range.

The centrepiece features 16 antique, cushion-shaped Kashmir sapphires, ranging from 3.43 to 13.37 carats—coveted for their velvety saturation and rarity. Each sapphire is framed by an array of D–F colour, internally flawless to VS1 diamonds, with a combined diamond weight of 121.81 carats.
According to Christie’s, the necklace dominated the 25 November sale and drew significant attention from collectors seeking exceptional provenance and craftsmanship.

The auction totalled HKD 538.1 million (USD 69.1 million), showcasing important creations from renowned maisons including Harry Winston, Van Cleef & Arpels, Cartier, and JAR.

Top 10 Lots from the Sale

1. Burmese Ruby “Red Butterfly” Earrings — HKD 25.5M (USD 3.3M)

Designed as vibrant red butterflies, these earrings feature oval Burmese rubies of 2.03, 2.11, 5.01, and 5.05 carats, set alongside pear- and marquise-cut diamonds. The pair sold within its presale estimate.

2. Kashmir Sapphire and Diamond Earrings — HKD 24.9M (USD 3.2M)

Showcasing four cushion-shaped Kashmir sapphires weighing 2.28–7.90 carats, accented by round and pear-cut diamonds, this pair also achieved its projected price range.

3. Diamond Rivière Necklace — HKD 22.1M (USD 2.8M)

A classic rivière design set with 25 diamonds (E–I colour), totalling 88.14 carats. The necklace includes five outstanding round brilliants weighing 8.57, 10.01, 12.86, 13.81, and 31.71 carats.

4. Cartier Tutti Frutti Necklace and Brooch — HKD 19.4M (USD 2.5M)

This iconic multi-gem suite features carved emeralds, sapphires, and rubies, complemented by cabochon beads and round diamonds. The result aligned with expectations.

5. 12.86-Carat Fancy Orangey-Pink Diamond — HKD 18.6M (USD 2.4M)

An unmounted round brilliant, VVS2 clarity and Fancy Orangey Pink colouration—a rare combination—fetched its forecasted price.

6. Art Deco Multi-Gem Cartier Bracelet (c. 1925) — HKD 16.4M (USD 2.1M)

Set with jadeite cabochons, a star sapphire, carved rubies and sapphires, enamel, and old-cut diamonds, this 1920s piece surged to nearly triple its high estimate.

7. 30.87-Carat D-Colour Heart-Shape Diamond Necklace — HKD 16.1M (USD 2.1M)

Featuring a detachable Type IIa, D-colour, VVS1 heart-shaped diamond, this versatile jewel achieved slightly above its lower estimate.

8. Boehmer et Bassenge Diamond Earrings — HKD 12.7M (USD 1.6M)

The earrings include two oval D-colour stones: an 11.03-carat internally flawless diamond and an 11.13-carat flawless diamond, suspended from round and marquise diamonds. The lot exceeded its high estimate.

9. Fancy Vivid Yellow Diamond Ring — HKD 10.9M (USD 1.4M)

An emerald-cut 10.39-carat Fancy Vivid Yellow diamond, VVS1 clarity, accompanied by round diamond shoulders, outperformed its HKD 6.8 million estimate.

Why This Matters to the Australian Market

High-profile auction results continue to highlight global demand for rare gemstones—particularly Kashmir sapphires, high-colour diamonds, and historically significant Cartier pieces.
As Australia’s only internationally accredited diamond laboratory, DCLA recognises how transparent, scientifically rigorous grading underpins confidence in the global secondary market. These results reinforce the premium commanded by stones with verified origin, colour, clarity, and craftsmanship.

Harry Winston Wins Top Item at Christie’s NY

43.10-carat Kashmir sapphire.

Christie’s sold a Kashmir sapphire and diamond bracelet to Harry Winston for $6 million on Tuesday, kicking off the December New York Magnificent Jewels season.

The piece, which led the auction house’s New York sale, featured a 43.10-carat sapphire surrounded by 67.90 carats of D-color, internally flawless diamonds. The final price fell within the estimate of $5 million to $7 million that Christie’s had given ahead of the sale.

“We are very proud to have purchased this extraordinary Kashmir sapphire, which joins the ranks of the finest diamonds and colored gemstones acquired by Winston to form our superb Legacy Collection,” Harry Winston CEO Nayla Hayek said in a statement Tuesday.

Christie’s brought in $44.6 million at the 10-hour Magnificent Jewels auction, with 95% of items selling by value and 91% by lot, it reported. Bidders took part from 39 countries, with the final sales total equal to 118% of the items’ combined low estimates.

Sapphires were a theme at the sale: A 1917 Van Cleef & Arpels ring featuring a 21.72-carat cabochon Kashmir sapphire ring went for $1.7 million, while a necklace with an 80.86-carat Burma sapphire in the center fetched $1.1 million. Meanwhile, a Cartier brooch set with an Art Deco Kashmir sapphire weighing 12.64 carats, formerly from the collection of Jean Stralem, realized $1.5 million.

Other highlights included a pair of earrings containing fancy-intense-purplish-pink and fancy-intense-pink diamonds, weighing 2.61 and 2.34 carats. The piece sold for $2.1 million.

The auction preceded the Sotheby’s New York Magnificent Jewels sale, which takes place Wednesday. A ring featuring a fancy-vivid-pink diamond flanked by two fancy-intense-blue diamonds — estimated at up to $12 million — will headline that event.

Source: Diamonds.net