Strong Bidding Drives Top Prices at Bonhams Luxury Week in Hong Kong

Robust demand for red jewels:
Rubies, red spinels and red diamond take half of the top ten lots
Top lot: A 3.21-Carat Important Ruby and Diamond Ring, Van Cleef & Arpels
sells for HK$3,752,500, soaring above high estimate.

Patek Philippe takes half of the top ten lots:
Top lot: Patek Philippe. Ref.5033P, A Platinum and Diamond-set Minute Repeating Wristwatch sells for HK$5,627,500, far-exceeding the high estimate.

The rising trend of semi-precious stones and independent watchmakers:
A 9.51-Carat Alexandrite and Diamond Ring
sells for HK$2,502,500, over eight times the estimate.
F.P. Journe. A Pink Gold Centigraphe Souverain Wristwatch, No.193 sells for HK$1,252,500, doubling the estimate.

Leslie Roskind, Bonhams Head of Jewellery Hong Kong, commented: "The well-attended sale and preview doubled the number of registrants from last year and achieved some of the strongest biddings in recent months. Nine out of ten top lots sold in competitive biddings for a price no less than the top estimate. Red stones, especially top-quality unheated rubies, red spinels and red diamonds, were particularly sought after. The top lot, a 3.21-Carat Ruby and Diamond Ring by Van Cleef & Arpels, demonstrated Bonhams' strength as an international auction house to source and to sell globally. It was a consignment from the US, sold in Hong Kong to a Taiwanese collector for HK$3.8million."

Sharon Chan, Bonhams Director of Watches Asia, commented: "The Hong Kong Watches sale, offering a vast array of rare models at attractive price points, achieved a strong sell-through rate of 87%. There was a strong sign of expansion of collector base, as we saw more young collectors and female collectors bidding with us. The top lot, a Patek Philippe Ref. 5033P traditionally considered as a top-of-the-line watch for men, was bought by a young female collector via online. This also shows that watch collectors are now already accustomed to buying online, not only for entry-level and mid-range pieces, but for top trophy items as well."


NOTES FOR EDITORS

Bonhams, founded in 1793, is one of the world's largest and most renowned auctioneers, offering fine art and antiques, motor cars and jewellery. The main salerooms are in London, New York, Los Angeles and Hong Kong, with auctions also held in Knightsbridge, Edinburgh, Paris, San Francisco and Sydney. With a worldwide network of offices and regional representatives in 22 countries, Bonhams offers advice and valuation services in 60 specialist areas. For a full list of forthcoming auctions, plus details of Bonhams specialist departments, please visit bonhams.com.

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