Auctions

2 Top Lots Withdrawn, Jadeite Necklace Sells for $8M at Sotheby’s

AuctionsOct 08, 2020

2 Top Lots Withdrawn, Jadeite Necklace Sells for $8M at Sotheby’s

The 118.88-carat Burmese sapphire touted ahead of the sale didn’t go up for auction in Hong Kong Wednesday.

20201008_Jadeite-necklace.jpg
This top color jadeite necklace was the highest-grossing lot at Sotheby’s jewelry auction in Hong Kong this week, selling for $8.1 million.

Hong Kong—Like almost everything else in 2020, the sale of two jewels expected to go for millions at Sotheby’s Magnificent Jewels sale in Hong Kong Wednesday didn’t go as planned.

Ahead of the sale, the auction house highlighted one special gemstone it predicted would be one of the top lots: a 118.88-carat unheated Burmese sapphire graded as “royal blue” in color by both the SSEF and Gübelin labs (pictured below).

The rare cushion-shaped stone, which is surrounded by pear-shaped diamonds weighing 16.06 total carats and set in a platinum pendant, was expected to sell for more than $5 million, a spokesperson confirmed to National Jeweler when news of its auction was announced.

But the lot was withdrawn ahead of the sale Wednesday, Sotheby’s confirmed.




Also taken out of the sale was a 4.84-carat fancy vivid blue internally flawless pear-shaped diamond with two brilliant-cut diamond accents, estimated to sell for between $7.2 million and $8.5 million.

Though no official reason was given for the gemstones’ withdrawal, it came just two days after a “perfect” 102-carat diamond underwhelmed at the same auction house in the same city. The giant D flawless stone went for $15.7 million, far less than what similar stones have sold for in recent years.

The top lot of Sotheby’s Magnificent Jewels sale ended up being a necklace comprised of 43 jadeite beads of a “highly translucent brilliant emerald green color” weighing approximately 630 total carats and featuring a clasp set with brilliant-cut and baguette diamonds.

It sold for $8.1 million at the jewelry auction.

This was followed by a ring featuring a 5.22-carat fancy intense blue diamond with single- and old European-cut shoulders. It sold for $4.5 million, topping its highest pre-sale estimate of $3.9 million.

The third highest grossing lot was a 6.41-carat unheated Burmese pigeon’s blood ruby and diamond ring (pictured below) designed and mounted by Hong Kong high jewelry house Forms, which sold for $2.8 million.




Coming at No. 4 was a 16.38-carat emerald-cut diamond set between tapered baguette diamonds and mounted in platinum. It sold for $2.5 million.

Among the lots that failed to find a buyer on Wednesday were a pair of earrings featuring pear-shaped and fancy intense blue diamonds expected to sell for as much as $4.6 million and a jadeite bracelet expected to fetch as much as $3.4 million.

The Magnificent Jewels auction was 77 percent sold by lot and

totaled $39.3 million. For full results, visit Sothebys.com.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Michael M Beverly Hills Flagship Interior Rendering
MajorsMar 04, 2026
Michael M Opens First Store

Beverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”

Dubai mall
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East Stores

Kering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.

Brilliant Earth Beverly Hills showroom
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills Store

Beth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”

TopImageCrop.jpg
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.

Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.

JIS Miami Spring 2026
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends Talks

Nearly half of buyers are prioritizing silver and fashion collections this season, organizers said.

Weekly QuizFeb 26, 2026
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Spinelli Kilcollin Live Now. Polish Later. Campaign
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse Campaign

The “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.

Jennifer Ashworth
MajorsMar 04, 2026
LeachGarner Names New Brand Director

The precious metals provider has promoted Jennifer Ashworth to the role.

dca-laptop.jpg
Brought to you by
DCA Enters a New Chapter in Jewelry Education

With refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.

Johnny Nelson Wins David Yurman Gem Award Grant Graphic
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards Grant

Nelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.

New Forevermark store in India
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s Future

Experts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.

Gannon & Scott and Metalor Technologies employees
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & Scott

The American precious metals refiner’s day-to-day operations remain the same post-acquisition.

Isabel Delgado aquamarine earrings
TrendsMar 03, 2026
Amanda’s Style File: Aquatopia

These aquamarine jewels channel the calming energy of the March birthstone.

AGTA Innovative Design Award
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for Spectrum

The “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.

Nena Mensah and Sofia Carson at 2026 Actor Awards
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood Glamour

Diamond jewelry was the star of the event formerly known as the SAG Awards.

Person pushing a shopping cart
SurveysMar 02, 2026
Consumer Confidence Edges Up in February

Consumers were somewhat less worried about the future, though concerns about rising prices and politics remained.

Rebecca Foerster
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual Luncheon

Foerster is this year’s Stanley Schechter Award recipient.

JFC facets 2026
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees

Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.

Faustino Alamo Dominguez and his son, Luis Angel Alamo, of Joyeria Angelo’s in Chicago
CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in Chicago

Chicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.

Ekapa mine
SourcingFeb 27, 2026
South African Diamond Mine Closes Amid Search for Missing Workers

Owners of the Ekapa Mine reportedly filed for liquidation about a week after a mudslide trapped five workers who have yet to be found.

Savannah College of Art and Design Bench Jeweler
MajorsFeb 27, 2026
Jewelers Mutual to Donate $10M to Savannah College of Art and Design

A 10-year alliance has also begun to address the shortage of bench jewelers through scholarships, enhanced programs, and updated equipment.

Renato Cipullo Splendente R Stone Letter Pendant
CollectionsFeb 27, 2026
Renato Cipullo Turns Gold into Hardstones

The “Splendente” collection has evolved to feature hardstone letter pendants, including our Piece of the Week, the onyx “R.”

Rough diamonds from De Beers
SourcingFeb 26, 2026
Anglo American CEO Gives Insight Into De Beers Sale

The update came as Anglo took its third write-down on the diamond miner and marketer, which lost more than $500 million in 2025.

Smart Age Solutions CEO Emmanuel Raheb
ColumnistsFeb 26, 2026
Practical Ways Jewelers Can Leverage AI in 2026

Emmanuel Raheb discusses the rise of “GEO” and the importance of having well-written, quality content on your website.

5 Star Jewelry Simi Valley California
CrimeFeb 26, 2026
Three Sentenced in California Jewelry Heist

Each received around four years for burglarizing a jewelry store and a coffee shop in Simi Valley, California, last May.

Catherine (Cathy) Aulick’s GIA Gianmaria Buccellati Foundation Award Winning Necklace Design
Events & AwardsFeb 26, 2026
GIA Names 2026 Jewelry Design Contest Winner, Retires Annual Award

Catherine Aulick, a GIA graduate, received the ninth and final Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.

Diamond engagement rings by designer Lorraine West
TrendsFeb 25, 2026
Engagement Ring Trends 2026: What’s In, and Why

We asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.

My Next Question podcast with Marion Fasel and Natalie Francisco
PodcastsFeb 25, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?

Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy