Specialised in jewellery auction, Tiancheng International has set several world auction records for jadeite jewellery. The auctioneer has taken the lead in bringing alternative gemstones to the auction market which set a successful example for other auctions in Hong Kong. Hong Kong Jewellery visited Tiancheng International’s headquarters in the city talking with Connie Huang, head of jewellery department, on business strategies and success of the auction house.
Tiancheng International is a fei cui-focused auction house established in 2011. In the following year, a fei cui bead necklace (photo 1) achieved HK$106 million at its 2012 autumn sale, setting a world auction record for jadeite jewellery. It amazed the auction world again when a fei cui pendant necklace and matching ring set (photo 2) was sold for HK$92 million at the 2014 autumn sale, breaking the world auction record for cabochon fei cui suite. The encouraging results in such a short time span positioned Tiancheng International as a fei cui specialist. As Connie Huang puts it, it is fei cui that brings them to a wider range of audiences.
Major auction houses from around the globe have set foot in Hong Kong. Thinking out of the box is the way to remain competitive. “It is crucial for us to do something different from other auction houses especially when we only engage in jewellery. Besides focusing on fei cui, we also strive to introduce new selections to the market, for instance, Mozambican ruby,” said Huang.
Burmese ruby is the most sought-after ruby for collectors. In its early years, Tiancheng International already provided a new perspective to connoisseurs on appreciating rubies by introducing the Mozambican species to its auctions. “We launched an unheated Mozambican ruby of over 20 carats at a 2012 auction, marking the debut of a Mozambican ruby at auctions in town. Rubies from Mozambique are well-loved by collectors thanks to their clarity and intense colour,” said Huang. At the 2017 autumn sale, a pair of natural unheated Mozambican ‘pigeon’s blood’ ruby earrings (photo 3) achieved HK$48 million, breaking the world auction record for Mozambican ruby jewellery.
Besides traditional choices such as ruby, sapphire and emerald, rarely-seen-and-interesting gemstones including spinel are available at Tiancheng International’s sales. According to Huang, last time when she was preparing an auction assortment she was deeply-fascinated by a magnificent spinel. She trusted that collectors would love it as well owing to its broad colour range and superb clarity. In a bid to test the water, Tiancheng International started with selling small pieces of spinel.
“Investment shouldn’t be the sole objective of buying jewellery. We only collect those that we are fond of. And then we think of investment. Value-preserved jewellery can be obtained regardless of budget levels. For instance, a piece of exquisite jewellery set with a non-treated centre stone from a desirable origin worth merely tens of thousands can also have value preservation and growth potential. For those who already have Burmese rubies, Columbian emeralds and Kashmir sapphires would only be interested in something new. Spinel is a successful try. The gemstone has been getting momentum at other auctions of late,” said Huang.
According to her, red and pink spinels are the most desirable in general. Those in intense red even resemble Mozambican rubies. Fine cobalt-blue spinel is also sought-after. “A fine quality three-carat spinel was worth around HK$30,000 five years back. The price has grown tremendously ever since. Big spinels are getting rarer and rarer as demand surges,” she added.
Despite the downturn in the auction market, 90 percent of the fei cui lots were sold at the autumn sale in December 2018. Connie Huang attributed the success to the effective product diversification strategies Tiancheng International employs. “While offering top-quality magnificent fei cui collectibles at over HK$6 million, we also provide the market with fine fei cui jewellery for daily wear at around HK$2 million. The mid-range goods would feel the most impact at times of adversity,” she said. (Photo courtesy: Tiancheng International)
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