Diamond, Qianlong Vases Boost $418 Million Hong Kong Auction

  • May 30, 2013 12:06

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Christie's secured an auction record of HK$86.1 million for a briolette-style diamond necklace.

Christie's five-day auction in Hong Kong ended with total sales of HK$3.2 billion ($418 million), indicating a a renewed uptick in the Asian market.

Compared to last year, Chinese buyers were back to a more competitive stance, bidding up the estate of renowned dealer Y. C. Chen from which a pair of iron-red Qianlong famille rose vases fetched HK$43.6 million.

The May 28th sale of jewelry was led by a 75.36-carat, briolette or water-drop-shaped diamond necklace that sold for an auction record of HK$86.1 million.

Price records fell for a number of Southeast Asian artists, among them was Nguyen Phan Chanh whose 1932 ink and gouache on silk work “La Marchande de Riz” set a record for a Vietnamese artist by selling for HK$3.03 million. The work had once been appraised at just 50 pounds ($75).

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