Totalled US$602.5 million (HK$4.9 billion), Sotheby’s worldwide jewellery auctions in 2014 reached a new height of annual total, marking a third consecutive year of record sales in the company history.
Thanks to the successful sales of The Zoe Diamond and The Graff Vivid Yellow, Sotheby’s now holds world auction records for the four most sought-after diamond colours, namely white, pink, blue and yellow. The blue diamond, sold for US$32.6 million (HK$254.6 million), holds the auction record for any blue diamond, the highest auction price for any jewel in 2014, as well as the highest per-carat price.
Driven by the scarcity of quality boulders and the growing demand of buyers from Greater China and Southeast Asia, the auction market for natural jadeite has been thriving. Achieved US$27.4 million (HK$214 million), the Hutton-Mdivani Necklace, fashioned by Cartier with jadeite beads from the Qing court, has maintained the records for any jadeite jewel and any non-diamond jewel.
The burgeoning wealth of a new generation of buyers from China, Russia and the Middle East drove demand for top-notch precious gemstones last year, said Sotheby’s. The Graff Ruby was sold for US$8.6 million (HK$66.9 million), a world auction record price and carat price for any ruby.
The depleting original source of natural pearls together with water pollution have made natural pearls rarer and rarer, which explains for the keen competitions at auctions. For instance, an important natural pearl and diamond necklace was sold eight times its high estimate for US$3 million (HK$23.1 million).