A necklace set with a 102.56-carat yellow diamond - the biggest of its kind to appear at auction - is the highlight of a jewelry sale in Hong Kong today that Sotheby’s estimates will total HK$500 million ($64 million).
The necklace, with a top estimate of HK$74 million, is one of 320 jewelry lots on offer this afternoon in the fourth day of the auction house’s five-day autumn sale.
“There’s a historical love for jewelry in Hong Kong dating back to the Cultural Revolution, when those were the only things you could put in your pocket and start a new life somewhere else”, said Sandra Walters, a Hong Kong-based art consultant. “Art is subjective, but you have established rules on what makes a good diamond, a good ruby that preserve their intrinsic value”. (Bloomberg)