Top-selling collectibles: The hottest auction highlights of this spring

Many valuable articles were auctioned during the recent Spring auctions and though every single object was unique in its own way, four items certainly stood out and impressed the bidders the most, thus achieving jaw-dropping hammer prices. Check out the latest roundup of auction lots that made history and the interesting stories associated with each of them.

Flawless Fancy

3 rings hold collectors in spell

A trio of flawless pear-shaped coloured diamonds fetched a combined total of HK$132 million (US$17 million) at Christie’s Magnificent Jewels Spring Auction. Dazzling at the centre of three exquisite rings, they captivated the audience and ignited fervent bidding for more than 15 minutes.

The sale was led by a breathtaking 4.83-carat fancy vivid blue internally flawless diamond ring, for which an anonymous bidder paid an astonishing US$8.84 million. This extraordinary natural blue diamond is considered a symbol of wisdom, truth and devotion, and its exceptional rarity and vivid blue hue place it in a league of its own. The internally flawless designation emphasises the stone’s remarkable clarity and further enhanced its allure to excited bidders.

Besides this triumvirate of spellbinding coloured diamonds, Vickie Sek, Chairman of Jewellery at Christie’s Asia Pacific, was thrilled by the auction’s overall success. “Our Magnificent Jewels sale received an excellent response from collectors for the diverse selection of exquisite colourless and coloured diamonds and gemstones presented, with almost half of these lots selling above their high estimates,” she said.

Dragon High

Qianlong moonflask shines at auction

An extremely rare Qianlong moonflask was the highlight of Christie’s ‘The Imperial Palette – Three Qianlong Treasures’ auction held at the Hong Kong Convention and Exhibition Centre. Bidders were impressed by this extraordinary Chinese craftsmanship such that the final sale price topped HK$108 million (US$13.8 million).

Marco Almeida, Head of Chinese Ceramics and Works of Art at Christie’s Asia Pacific, expressed his enthusiasm for the fine porcelain collectible: “This magnificent and very rare Qianlong doucai moonflask embodies the superb artistry and craftsmanship of the Qianlong period [1736-1795]. The significant historical and cultural importance, rarity and outstanding quality of this work of art make it a true gem for collectors and enthusiasts alike.”

The circular body of the imposing flask is finely pencilled and enamelled on each side in iron-red, yellow, aubergine and shades of green. A green five-clawed dragon emerges from waves to confront an ascending dragon in iron-red amid cloud-scrolls and flames. The large rising dragon symbolises the Qianlong Emperor, while the smaller serpent represents the heir apparent.

Emperor’s Gift

Puyi wristwatch clocks world record

A watch of huge historical significance sparked frenzied bidding at a recent Phillips auction in Hong Kong. The Patek Philippe timepiece is the former property of the last Emperor of the Qing Dynasty, Aisin-Gioro Puyi, and sold for HK$48.85 million (US$6.26 million).

The sale of this rare Patek in platinum with moon phases, triple-date calendar and silvered dial had been much anticipated in the watch-buying community. Part of The Imperial Patek Philippe Sale, the wristwatch was subject to a bidding war by at least six collectors and was claimed after a considerable mark-up of HK$9 million on the final nod. The price is a record for the Ref. 69 Quiantieme Lune, as well as the highest achieved by a watch previously owned by an emperor.

The simple, clean silhouette and large unsigned crown express the aesthetics of Bauhaus and understated functionality, while the rose-gold ring, silvered dial and enamel Arabic numerals in a ‘roulette’ configuration underscore a supreme elegance. Purchased in 1937, the watch was kept in its original untouched condition and has a rich patina consistent with its age.

Le Mans Magic

Awesome Aston accelerates off auction block

A 2007 Aston Martin racing car has sold for 2.23 million euros (US$2.4 million) at an auction held by RM Sotheby’s. The DBR9 GT1 was one of 24 sports competition cars that lined up for the Le Mans Centenary sale.

First purchased by Gigawave Motorsport team founder Henry Barczynski, the car is thought to be one of just 18 DBR9 chassis constructed by Prodrive between 2005 and 2008. It subsequently had just two other owners, while among the professionals who have sat in the driving seat are Stefan Mücke, Darren Turner, Peter Kox and Tomáš Enge.

The Aston Martin notched up third-place finishes in both the 2008 Silverstone Tourist Trophy and 2008 24 Hours of Spa. Further success was achieved at the 2010 24 Hours of Le Mans, where it was third in the GT1 class and 22nd overall. The following year it secured four podium finishes in the FIA GT1 World Championship, winning in Beijing.

The successful bidder also received three spare sets of wheels, as well as the original Pectel/Pi electronics and all relevant operating and computer software materials.

Wine & Investments: An interview with Auctioneer Simon Tam

Food lover, passionate scuba diving instructor, wine expert, Christie’s alumni, founder of Aeos Auctions – Simon Tam is a man of varied experiences and a wealth of knowledge. We caught up with the seasoned auctioneer to learn about his craft and relish in his lively character…

Was there one particular glass or moment that sparked your love of wine?
I come from a family of restaurateurs and grew up in our restaurants in Australia – good food, good wines, good company, laughter and conversations were the norm for me. I often thought to myself, ‘What an interesting industry to get into.’ My surroundings made me adventurous with food and wine. I love trying new tastes, and the sights, sounds and smell of a working kitchen have always fascinated me – they still somehow evoke the deepest part of my memories. When you’re surrounded by food and wine as a child, it leaves an impression.

Infamously, I not only tried wine for the first time at 13, but also spiked it with Coca-Cola! It was the early ’80s, and I happened to ‘borrow’ a bottle of 1961 Château Lafite from my mother’s cellar and had my first sip. I instantly loved the smell, though not so much the taste. The moment I added Coke, I knew it was going to be my life-long poison [laughs].

I was in high school when I first made wine. My friends and I had a pact that in the winter holidays we would teach skiing and in summer we’d make wine. That was a turning point for me, and I haven’t looked back; I think wine is the only thing I know.

How did your journey evolve from opening Hong Kong’s first wine school back in 1996 to founding Aeos Auctions last year?
Amazing. The wine industry is a melting pot of generous, kind, and funny people from different cultures and parts of the world. I’ve been very fortunate with mentors in my career and my decades of professional experience which have prepared me for running an auction house – it’s been a fulfilling, fun learning journey.

Tell us about your 10 years at Christie’s and how this shaped you today as an auctioneer?
[In 2010] I was the first Chinese appointed as the Head of Wine at Christie’s in Hong Kong. I started with the China market, which was growing rapidly in the fine-wine sector; it was a great honour to be heading the ever-expanding China team, and then my role grew to head wine for the whole of Asia.

As an organisation, Christie’s is amazing – the client service experience is second to none, people are passionate about their jobs, and there’s an incredible amount of knowledge and expertise in all departments. I am grateful for the rich learning environment I got to be in. I discovered that the business of auctions is exhilarating – it gave me butterflies each time the gavel came pounding down on the podium.

What are the best as well as the worst aspects of your profession?
The best aspects of the wine and auction industries are the people – the passion, the motivation that drives people to understand, taste and collect wine is exemplary. It doesn’t get mundane – no two days are the same; there’s always something new to learn and some of the best, most colourful and kindest people I’ve met in life are wine lovers.
The worst part, I would say, is an empty bottle [laughs]. But there’s always another one…

“There’s always something new to learn [in the wine industry] and some of the best, most colourful and kindest people I’ve met in life are wine lovers”

Any underrated wines which people should know about and appreciate?
Now, I am tasting and drinking a lot of New Zealand Pinot Noir – it’s one of my favourite grapes; Sauvignon Blanc may be New Zealand’s calling card, but the country has built a formidable reputation for handling this Burgundy grape remarkably well. Winemakers there have been mastering this fickle grape from more than 20 years, and I am absolutely smitten. The region’s cool climate gives an impressive and eclectic depth, purity, freshness, complexity and exoticness to the variety.

You’ve been in the industry for more than 30 years. Can you reveal the best business advice you’ve ever received?
I’ve been mentored by several people at different times in my career, and everyone had something valuable to say, but the advice that stood out for me was from my mother. She said, ‘Treat everyone the same way – a janitor or a CEO.’ That’s the most beautiful life lesson for me; when you are capable of doing anything in life, the least you can do is treat people with kindness. It has certainly helped me make a lot of genuine friends in and out of this industry.

gafencu_interview_simon-tam_christies_wine-collector_aeos 2 — Jacket, button-up shirt, pants and shoes by Brunello Cucinelli

What denotes a fantastic food and wine pairing?
Now we’re talking! I grew up in an environment of food, wine and laughter, but I took it ahead and decided to explore how Asian food pairs with wine – an Indian sabzi, Thai green curry, Vietnamese pho, chilli-laced noodles… Asian food runs a gamut of flavours, and the standard wine rules don’t always apply. Sometimes red meat and red wine work, sometimes white meat and white wines work, but the world is so much more diverse than that.

Some of my pairings are unorthodox – I love spicy food and instead of drowning out the chilli, I want the wine to exaggerate the drama. If I wanted my wine to dull or flatten the spice, I might as well have bland food, no? I also feel that the finest food and wines should be reserved for the highlight moments of your life, so for weekends and regular get-togethers find wines that fit your lifestyle and match the occasion.

“Some of my pairings are unorthodox – I love spicy food and instead of drowning out the chilli, I want the wine to exaggerate the drama”

Since you’re so passionate about food and wine, is opening a restaurant in the pipeline?
Hospitality is in my blood and I love the industry, but much to my parents’ disappointment, none of their three boys carried on the family business. I like the idea of having my own restaurant, but it’s way too much hard work – whenever everyone else is chilling and having their downtime, like Christmas or New Year, you’re working. I’ve lived that life and made a conscious decision to have some balance.

Tell us about your other passions.
That would be underwater photography and scuba diving. I am an accomplished scuba diving instructor but, wait for it, I can’t swim. I am extremely skilled in water; I know my buoyancy, but I just can’t swim long laps. Being underwater is paradise – it’s such a thrilling and a humbling experience; a true realisation that the universe is majestic and you’re a tiny, tiny part of it. Both underwater photography and scuba diving bring balance and a diverse perspective to my above-ground life.

What brings you happiness in life?
Laughing with my son. He’s 15-years-old, remarkably intelligent – I can’t take credit for that – has a very good sense of humour and is a gorgeous human being. I just love being with him, laughing with him, and we have a delicious time together.

gafencu_interview_simon-tam_christies_wine-collector_aeos 4 — Jacket, button-up shirt, pants and shoes by Brunello Cucinelli

What are your vices?
I can’t be left alone in a supermarket – I just can’t be trusted with a wallet and a shopping cart! I am an obsessive, impulsive kitchen and gadget shopper. I absolutely love to cook and entertain – in fact, I eat out only for work purposes – so I cannot do without a fully functional pantry. And when I’m in a supermarket, there’s always this urge to buy extra for dinner with friends, or an impromptu party at home…

If you could have any wine with any cuisine tonight, what would it be?
I would drink my own wine. I made it before leaving Australia and my godparents have kept a stock, pair it with my godmother’s Brien Stew and Suet pudding. It’s outrageously delicious! Reliving my childhood, my happiest days, while sipping my own wine – now that’s home for me.

Thank you.

(Interview by: Nikita Mishra; Photographer: Jack Law; Art Direction and Styling: Jhoshwa Ledesma; Videographer: Kes Lei Venue: Aeos Auctions Office)

Blue Diamonds: A look at the world’s stunning coloured gems

A remarkable discovery of one of the largest and most valuable blue diamonds in the world was recently unearthed and will be gracing the auction block at Sotheby’s Hong Kong this month. With much excitement expected to ensue, the De Beers Cullinan Blue Diamond, mined in 2021 in the Cullinan Mine in South Africa (one of the few sources in the world for extremely rare blue diamonds), is expected to captivate the crowd with its astonishing colour, cut, clarity and carat.

The DeBeers Cullinan Blu The most beautiful and expensive blue diamonds in the world gafencu — The DeBeers Cullinan Blu, photo courtesy of Sotheby’s

Weighing at 15.10-carat, the internally flawless, fancy vivid blue diamond will be presented to bidders on 27 April as a single-lot auction with an estimated value of more than US$48 million (HK$380 million). In the spirit of admiring this scintillating azure hue, we look back at some of the most beautiful and expensive blue diamonds that have captured the attention and heart of collectors and the world over time.

Hope Diamond (US$250 million)

Hope Diamond The most beautiful and expensive blue diamonds in the world gafencu — Hope Diamond

The Hope Diamond, which also goes by several aliases such as, Le Bijou du Roi (The King’s Jewel), Le bleu de France (The French Blue), and the Tavernier Blue, is one of the most famous jewels in the world. Its origin dates back almost four centuries – possibly from India – and is one of the earliest mentioned blue diamonds.

Weighing at an outstanding 45.52-carat, it is classified as a type IIb diamond with a fancy dark grayish-blue clarity. The diamond had several prominent owners – which explains its name nicknames – and was well travelled before finally settling in the hands of American luxury jeweller Harry Winston in 1949. Almost decade later, the New York-based jeweller donated the gem to the National Museum of Natural History in the United States, where it remains as a permanent exhibition for all to admire.

The Blue Heart Diamond (US$60million)

The Blue Heart is a 30.62-carat, heart shape, brilliant-cut, fancy deep blue diamond that was found at the Premier Mine in South Africa in 1908, and obtained by French jeweller Pierre Cartier. It is approximately two-thirds the size of the Hope Diamond and one of the most popular blue diamonds known to the world. After several exchange of hands, the stone was sold to American business woman, socialite and philanthropist Marjorie Merriweather by previous owner American luxury jewellery Harry Winston. Merriweather was the last private owner of the diamond, who gifted the gem to the National Gem Collection in 1964.

Also Read: Bloomin’ Marvellous: A cornucopia of spring-inspired jewelleries

Oppenhiemer Blue Diamond (US$58million)

Oppenheimer Blue' Diamond Sells at Auction for $57.5 Million The most beautiful and expensive blue diamonds in the world gafencu — Oppenheimer Blue Diamond, photo courtesy of Christie’s

The Oppenheimer Blue Diamond is a sensational coloured diamond ring set with a 14.62-carat fancy vivid blue rectangular-cut diamond, flanked by a pair of trapeze-shaped diamond. In the summer of 2016, it broke the record of most expensive expensive blue diamond ever sold at auction after an intense budding war that consequently ended with the ring going under the hammer for a whopping US$58 million, setting a new auction record for he most expensive blue diamond. Its name derives in honor of Sir Philip Oppenheimer, the man who previously controlled the De Beers Mining Company.

The Blue moon of Josephine (US$48.5 million)

The Blue Moon of Josephine, previously known as the Blue Moon Diamond of South African origin, smashed records in 2015 for world auction price-per-carat for a diamond or gemstone at Sotheby’s Geneva. Selling for over US$4 million per carat, the cushion-shaped fancy vivid blue 12.03-carat diamond exchanged hands at a record-setting price of US$48.5 million. The winning bidder, none other than Hong Kong billionaire Joseph Lau, renamed the gem after his daughter, Josephine. The sale came just one day after the businessman purchased a rare 16.08-carat pink diamond for US$28.5 million.

Also Read: The sensual dual-appeal of transformable jewellery

Apollo Blue Diamond (US$41.3 million)

Apollo Blue Diamond The most beautiful and expensive blue diamonds in the world gafencu — Apollo Blue Diamond, photo courtesy of Sotheby’s

The Apollo Blue is a Fancy Vivid Blue, 14.54-carat, Internally Flawless, Type IIB diamond earring that arrived at the auction block of Sotheby’s Geneva in 2017 as a pair to the The Artemis Pink, a Fancy Intense Pink, 16.00-carat, VVS2 clarity, Type IIA earring. Together, they were billed as the most valuable pair of diamond earrings every to appear at auction. According to the auction house, both are amongst the purest of all diamonds, with “an alluring limpidity”. In 2017, an anonymous buyer outbid the crowd, exchanging the stones for US$42.1 million for the Apollo Blue and US$15.3 million for the Artemis Pink, and renamed them “The Memory of Autumn Leaves” and “The Dream of Autumn Leaves”.

Mouawad Blue Diamond (US$40 million)

Once known as the Tereshchenko diamond, named after the prominent Russian family of the same name that once owned this Fancy Blue 49.92-carat jewel. It is the largest blue diamond in the world, following the Hope Diamond. While the precise location and date of which it was mined remains unknown, it is believed to be of Indian origin. It was first sold in 1916 prior to the Russian revolution and last sold at Christie’s Geneva to Saudi-Arabian dealer Robert Mouawad for US4.6 million, the highest price ever paid for a diamond at auction. It was then that the stone was rechristened as the Mouawad Blue Diamond.

Also Read: Pink Pride: Fancy pink diamond shines bright at Sotheby’s auction

Precious gemstones worth investing in

Precious gems are not only a decorative jewel but is also a discrete investment and an ideal asset to pass down as a family inheritance. Among the myriad of gemstones available, there are only a handful that are really worth the investment. Precious stones that have not been treated with chemical inclusions or heated to enhance clarity, and have been carefully cut to retain as much value in weight as possible command the highest prices at major auction sales. Market value of precious gemstones are determined by the 4Cs (cut, carat, colour and clarity) but also valued for their origins. These are the most valuable gemstones worth investing in:

Pink diamonds

Though the common adage states that a diamond is a girl’s best friend, coloured diamonds are indeed anyone’s best investment. Pink diamonds are high-end precious gems and are very rare. They have a broad range of colours but top investments are commonly put into fancy, fancy intense and fancy vivid. Though diamonds are known to be a volatile assets as appreciation can be difficult to predict, pink diamonds have been growing exponentially in value as well as popularity. Such is the case recently when a rare 14.83 carat purple-pink diamond mined from western Australia’s Argyle mine, a region said to produce premium quality pink diamonds. The precious stone astounded spectators when it realized HK$163 million at a major auction house this month. However, it is extremely rare for colour diamonds to be found in large sizes, so it isn’t unknown for people to purchase as low as a quarter of a carat, although experts recommend to start from at least half a carat to a carat-and-a-half which could cost up to at least HK$775,064.

Burmese ruby

An almost mythical gem for its scarcity and one of the most finest jewel to exist in the world, Burmese rubies, also known as ‘old Burmese rubies’, have a deep red pigeon blood colour with superior clarity. The stones are mined from districts surrounding Mogok and Mong Hsu regions in Northern Burma which are known to produce 90% of this type of purple-red coloured gem with impeccable clarity because of the highest level of chromium minerals in the ground, resulting in extremely saturated rubies. However, it is common for stones to be heated even before exiting the caves, which makes scarcity of untreated Burmese rubies extremely rare and command one of the highest price per carat among other gemstones at around HK$140,000. The most expensive coloured gemstone ever sold at auction in the US is a burmese ruby named The Jubilee Ruby. Weighing in an amazing 15.99 carat, the jewel set its record in 2019 at HK$69 million per carat.

Colombian emerald

Famously adored by Cleopatra, emeralds possess a magnetism that makes this caprivating gem an undoubtedly beautiful and popular precious stone. Though when it comes to investing in emeralds, buyers are advised to be cautious of the properties of the gem. Emeralds are commonly known to have several imperfections due to the high level of iron minerals in the stone, leading many stone cutters and jewellery makers to improve its clarity and colour with heat and chemicals. Although a flawless emerald with pronounced clarity is important, the significance of choosing a certified gemstone that has not been treated with any enhancers to alter its original form is essential in retaining the gem’s value. The reason why emeralds from Colombia are worth more than emeralds from other countries is because they contain less iron and fewer impurities and fractions. Some of the rarest and most expensive emeralds in the world come from the Colombian mines and have a stunning blue-green medium tone with a vivid saturation — an ideal characteristic when purchasing emeralds. The price per carat for an untreated Colombian emerald can reach up to over HK$116,259.

Precious gemstones worth investing in gafencu magazine imperial kashmire sapphire — An Imperial Kashmir sapphire and diamond ring featuring a 17.16ct intense cornflower blue coloured sapphire. Image from Sotheby’s

Kashmir sapphires

A legend among gemstones, the Kashmir sapphire’s value peaks high above its other blue-hued brethren for its origin and properties. This gemstone contains only the best specimen and is beyond comparison proven by the outstanding cornflower blue colour that is unique to the location of its origin. Mined from the remote Zanskar range along the Himalaya Mountains, an area known for its bright blue sapphires, the allure of its velvety-blue stone has been known to kings since the early 1880s and continued to be mined since. Its long standing reputation and history has resulted in fewer productions today due to its scarcity. Many of the known existing Kashmir sapphires of the highest value are locked away in museums making the already rare gemstone even harder to obtain. The cost of this sapphire can reach up to HK$85,000 per carat though it has been regularly hitting the HK$1.2 million mark at major auction sales and will continue to rise in value.

A taste for the extraordinary: Rare valuables that fetched record prices at major fall auctions

Extremely rare and extraordinary valuables, including a Qing dynasty moon flask and an exquisite French wine collection of tycoon Joseph Lau, drew a strong response from collectors and fetched record prices at auctions held in Fall by Christie’s and Sotheby’s.

A rare rose moonflask

A Qing dynasty antique draws top bids.

Among finest art pieces to hit the auction block in recent memory, the rare and exceptional small pink-ground Famille Rose Moonflask fetched a price of HK$4 million at Christie’s Pavilion Sale Chinese Ceramics and Works of Art, surpassing by a significant margin its HK$3.5 million pre-sale estimate.

The rare antique has enjoyed a long provenance, underscored by its iron-red four-character seal mark signed by the Qianlong Emperor (1735-1796) during the Qing dynasty, who was reputedly one of China’s foremost art collectors. The six-inch-tall flask is a truly finely-potted item. Its incised rose pink ground is decorated with floral scrolls, known as “flower brocade design”, which is said to be unique to the reign of the sixth Qing emperor. While many earlier designs were simply painted on a white background, the moon flask’s floral designs were set against a soft rose-pink background.

Another impressive item that highlighted that same auction was a pair of green-enamelled and iron red-decorated Peach Blossom Jardinieres a piece dating back to Emperor Kangxi’s reign (1661-1722). The rare item was sold for HK$2.1 million, more than eight times the pre-sale estimate.

A flawless diamond

A rare jewel breaks online auction

In a series of exceptional jewellery sales this fall, international auction house Sotheby’s amassed an impressive HK$426 million in revenue, boosted in no small measure by the disposal of the highly-sought-after 102.39-carat D colour Flawless Oval Diamond, which went under the hammer for an astounding HK$121.6 million at its Hong Kong Jewellery Autumn Sales on October 7.

The first world-class diamond ever to be auctioned without any reserve price, the rare gemstone fuelled a frenetic and exciting flurry of bids that rapidly zoomed up to gargantuan final price. It broke also the HK$85 million record previously for the most expensive jewellery auctioned online. The winning bidder was a Japanese national who quickly nicknamed the jewel as “Maiko Star” after his second daughter. Last summer, another Japanese man bought an 88.22-carat oval diamond for US$13.8 million, naming it “Manami Star” for his two girls.

Two days after the sale of the 102.39-carat diamond, the auction house sold an Imperial Green Jadeite Bead and Diamond Necklace for a price of HK$63 million. That particular transaction also helped bring Sotheby’s total jewellery sales revenue for the season to an impressive tally of HK$426 million.

Vintage Romanee-Conti

French fine wines lure oenophiles

A number of sensational wines from the cellar of tycoon Joseph Lau commanded premium prices during a two-day auction in Hong Kong on October 3. The fine wines extravaganza grossed HK$53 million, more than double the pre-sale estimate of HK$25.7 million. Lau’s collection enticed fellow oenophiles, all drawn by his 38-year reputation for collecting and keeping the finest French wines.

The sale was highlighted by the offer of 12 bottles of Domaine de la Romanée-Conti 1990 – made by one of the world’s most sought-after winemakers – which fetched a final price of HK$3.8 million.

Wine connoisseurs also displayed keen interest in iconic vinos of impeccable provenance from the Five-Star Cellar, which were highlighted by top-notch Bordeaux and Burgundy wines that were purchased on the original date of their release. They remained in professional storage in Britain until last month, when they made their way to the auction block. The collection, which was comprised of 172 items, generated a collective revenue of HK$97.8 million.

Time to shine: Hong Kong’s incomparable luxury watch auction scene

The world is undeniably in a state of Covid-19 chaos, with growing unemployment, a spiraling death rate, and no vaccine on the immediate horizon all contributing to depressed economies across the globe, with the retail industry particularly hard-hit by ongoing lockdowns and social distancing measures.

But while retailers across the world shutter their doors or open them only to serve a disappointing trickle of customers, auction houses have become virtual one-stop shopping destinations for people buying luxury goods across all categories, thanks to Zoom previews, online video condition reports, and easy online bidding. One particularly hot category is luxury watches – an industry that in 2018 was valued at some US$6.93 billion – and an equally hot destination is Hong Kong.

In truth, Asia’s World City has long held pole position as the world’s biggest luxury watch market, despite boasting just seven million souls. Indeed, the SAR’s insatiable appetite for high-end timepieces has seen the city beat out the USA, Germany and even Switzerland – home of many haute horology labels – to achieve its market leader status.

Hong Kong’s love affair with timepieces stretches back to the 16th century, when Jesuit missionaries first introduced such chronological accessories to the region. Across the intervening centuries, it has in turns been a manufacturer and exporter of watch parts, a hub for watch assembly factories, and finally, at the dawn of the 21st century, as a shopping destination for discerning timepiece enthusiasts.

The past decade has also seen the SAR transform into a huge auction hotspot for the sale of rare luxury timepieces, with leading auction houses like Sotheby’s, Christie’s, Bonhams and Antiquorum all hosting multi-million-dollar auctions in the city. What has resulted is a slew of ultra exclusive – sometimes even unique – watches going under the gavel for astronomical prices and setting new records.

In July alone, Sotheby’s Hong Kong sold a Rolex Daytona “John Player Special” Ref. 6264 for more than US$1.5 million, a record price for that model, and Christie’s sold a rare Patek Philippe Ref. 5033 minute repeater for US$1.95 million. In June, Phillips, in association with Bacs & Russo, drew US$3.6 million for a Patek Philippe Ref. 1518 from the collection of watch industry titan, Jean-Claude Biver. Sotheby’s further made headlines that same month by breaking a record it held since 2018 for most expensive modern Rolex ever sold. The lot was a platinum Rolex Daytona ‘Zenith’ – a one-off creation featuring a Lapiz Lazuli dial – which went under the hammer at HK$25.3 million, five times its estimate.

Christie’s Hong Kong’s decision to differentiate it from the rest of the pack by offering it with its very own “The Masterpiece” sale led to a momentous occasion that birthed a new holder for the most expensive wristwatch ever sold in Asia at the auction house’s Autumn Auctions 2019, where the very first day of proceedings saw a rare 66-year-old pink gold 1953 Patek Philippe Ref. 2523 wristwatch getting sold for HK$70.2m, smashing last year’s record for the most expensive wristwatch sold at auction in Asia.

“Hong Kong has been the world’s biggest watch market for over a decade”

Despite the coronavirus pandemic – as well as stiff competition from other auction hotspots like Geneva, New York and London – Hong Kong’s reputation for being a true haute horology hub shows no signs of abating. Take, for instance, the November 30 “Ruby Collection” auction, a Hong Kong sale of Patek Philippes from an esteemed single-owner private collection, highlighted by a pair of possibly unique (no one has ever seen them before) models: a perpetual calendar and minute repeater/tourbillon, both with ruby hour markers and estimated to sell for less than US$1 million each. The collection also includes astronomical watches, including the ultra-complicated Sky Moon Tourbillon Ref. 5002, with 12 complications, estimated to fetch from US$1 million to US$1.5 million.

Time to shine Hong Kong's incomparable luxury watch auction scene gafencu magazine watches (5)

With countless luxury watch auction records set in the past year in Hong Kong, and with so many upcoming events to further enhance its reputation, it seems that neither its recent troubles or the coronavirus pandemic can even dent Asia’s World City’s reputation as one of the go-to auction hubs for discerning watch collectors seeking rare, otherwise unfindable statement timepieces of yesteryears.

Gems of the Ganges revealed at Christie’s Maharajas and Mughal Magnificence auction

Boasting a staggering array of bejewelled mementos once owned by members of India’s ruling classes, the Christie’s Maharajas and Mughal Magnificence auction was always going to be something truly special.

A a 1912 Belle-Époque Diamond Devant-de-Corsage Cartier Brooch

Hosted at the auctioneer’s New York office, the marathon 12-hour sale raked in a total of US$109 million, making it the second-most valuable private collection ever to go under the gavel – outdone only by the 2011 sale of the gems that once belonged to Elizabeth Taylor, that most beguiling of screen goddesses.

The lead item this time round was a 1912 Belle-Époque Diamond Devant-de-Corsage Cartier Brooch. Eventually sold for US$10.6 million, the horseshoe-shaped, diamond-draped creation featured two wholly unique gemstones – a brilliant-cut, D-colour, 34.08-carat diamond and an oval-shaped 23.55-carat diamond.

Among the other highlights of the sale were a dazzling Antique Imperial Spinel, Pearl and Emerald Necklace, which went for an eminently respectable US$3 million, and a gem-studded Jigha turban ornament and the The Taj Mahal Emerald brooch – both of which attracted winning bids of US$1.815 million.

Pink Performance: Pink Floyd guitar sale fetches stunning sums

David Gilmour, the legendary lead guitarist of Pink Floyd, that most cosmically-inclined of British rock bands, has played stunning solos on some of the world’s bestselling albums – most notably The Wall and The Dark Side of the Moon.

Pink Floyd guitarist David Gilmour with his 1969 Black Strat — Pink Floyd guitarist David Gilmour with his Black Strat, which sold for US$3.975 million

When news broke out, then, that he intended to auction off his personal guitar collection, it was no surprise that music memorabilia aficionados the world over went into something of a meltdown. Nor was it a huge shock that the collection raised the undeniably grand figure of US$21 million when Christie’s New York brought the gavel down on the final lot, the proceeds of which have been earmarked for Gilmour’s charitable foundation.

By far the star performer of the day was a 1969 Black Fender Stratocaster – also known as the Black Strat – which went for a stunning US$3.975 million, exceeding its pre-sale estimate of US$150,000 by some 2,650 percent. It has to be said, though, that the initial valuation was somewhat conservative, seeing as this was the very instrument that gave the world some of the most memorable Pink Floyd tracks, including Money, Shine On You Crazy Diamond and Comfortably Numb.

Pink Rock: Bubble Gum Pink diamond ring took top billing at Christie’s

While the words ‘bubble gum pink’ may not quite segue into the mystique and rarity that characterise haute joaillerie, one particularly stunning rosy-esque diamond ring that more than matched this description took top billing at the recent Christie’s Magnificent Jewels auction in Hong Kong, ultimately selling for an eminently wallet-lightening US$7.52 million.

Precisely crafted by London-based jeweller Moussaieff, the centrepiece of Bubble Gum Pink’s white gold ring is a 3.43-carat, cushion-cut, internally flawless fancy vivid purplish pink diamond. Surrounding this iridescent gemstone are four D-colour, internally flawless, marquise-cut diamonds and several pear-shaped pink diamonds.

Highlighting the unique nature of this salmonesque showstopper, Francois Curiel, Chairman of Christie’s Europe, said: “It’s probably the strongest pink I have seen in my 50 years as a jewellery specialist. What is particularly rare about it is that it is also internally flawless, meaning it has no imperfections whatsoever.”

The Big Picture: Outsized prices for outsized art by Zao Wou-ki

Unlike many of his contemporaries, Zao Wou-ki, the renowned Beijing-born abstract artist, achieved considerable success while he was still around to enjoy it. Since his death in 2013, however, his stock has risen still further, a fact that was underlined when one of his paintings – Juin-Octobre 1985 – sold for US$65 million in September 2018, making it the most expensive artwork ever auctioned in Hong Kong.

Since then, other Zao Wou-ki artworks have gone on to command equally impressive valuation, most notably his Triptyque 1987-1988, which went for an eminently respectable US$22.8 million at a Christie’s auction in Hong Kong earlier this year. It is one of seven monumentally-sized triptychs the artist produced between 1980 and 1990 – and only the second ever to come up for auction. Comprising three 200cm x 162cm panels, this particular triptych is seen as representing something of a transition point between the dark tones that defined his work throughout the ’60s and the brightness that crept into his later pieces.

Speaking of his love of working on outsized canvases, Zao Wou-ki once said: “The large surfaces inspired me to battle with space. I had to fill this surface, bring it to life, give myself to it.” Now it seems safe to say that the value put on his works is nearly as great as his initial artistic vision.