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Jade piece sets world auction record at HK sale

Posted on 2013-01-28, By A-Best Staff

 

This rare necklace, offered at Tiancheng International’s most recent auction, set a new world auction record for a piece of jadeite jewelry.


Hong Kong--A rare 23-bead bright green jade necklace sold for $13.7 million at Tiancheng International’s Nov. 28 sale of Jewellery and Jadeite here, setting a new auction world record for a piece of jade jewelry.


The beads of the necklace, ranging in size from 17.35 to 20.71 millimeters, were noted for their exceptional translucency, color and texture.
 

“Due to the decreasing supply of top quality jadeite in the market, the price of rare jadeite with exceptionally fine quality,” is increasing, said Ellen Sin, director of Tiancheng International’s jewelry department. “Top quality jadeite is one of the most sought-after items among jewelry collectors.”
 

Overall, the sale achieved a total of $52.3 million, with 81 percent sold by value.


Other top lots in the auction included an important jade plaque pendant, which sold for $3.7 million.


A jade “Guanyin” and diamond pendant (below) realized $2.7 million. Guanyin is a bodhisattva, or enlightened existence, associated with compassion in Buddhism.

 

 

“The results have given us, such a young Hong Kong-based auction house, confidence in growing our business,” Yan Zheng, chairman of Tiancheng International, said.


Tiancheng opened in January 2011.
 

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