Sotheby's to sell blue diamond ring in Hong Kong
A blue diamond ring is to be put up for sale by Sotheby's in Hong Kong, a decision which reflects the burgeoning growth of the jewellery market in the region.The 5.16 carat diamond ring is expected to fetch up to $5.8 million.
Hong Kong is now Sotheby's second largest jewellery market in the world, behind Geneva but ahead of New York.
The propinquity of wealthy Chinese buyers has helped the market to grow, but Patti Wong, chairperson of Sotheby's Asia, told the Financial Times that it was the international character of Hong Kong's marketplace which prompted the decision to sell the item here.
"In the past, people thought Hong Kong could only attract Asian buyers. It is totally not true. We have been drawing intense interest from international collectors as some of the best items are offered here," she said.
Sotheby's has included the ring in an auction of 323 lots set to commence on April 10th this year.
Last year Christie's auctioned a pink diamond ring for more than $10 million and set a new record for price per carat in the process.
