Diane Alter – Fourth Estate Cooperative Reporter
Hong Kong, China (4E) – Hong Kong has garnered the position as the world’s third biggest auction center after New York and London, in large part due to the growing luxury market in mainland China.
Just last week, the city was the site for the auction of the fabled “Martian Pink” diamond.
The storied gem fetched $17.4 million at auction in Hong Kong when it went on sale for the first time in 36 years.
The legendary jewel sold for more than double the estimated price.
Billed as the “largest round fancy intense pink diamond” ever to come up for auction, the spectacular jewel was the highlight of Christie’s latest jewelry auction that raised $80 million, according to the renowned auction house.
Vickie Sek of Christie’s Asia said in a statement, “Having appeared on the market for the first time in 36 years, The Martian Pink sold by Harry Winston in 1976 created a sensation during its worldwide exhibition tour and achieved a staggering $17.4 million after a 10-minute bidding war.”
The diamond was bought by an anonymous buyer.
“The $80 million auction was highlighted with top prices across the board, culminating in a world record price of $551,000 per carat for a perfect Burmese ruby of 6.04 carats,” Sek said.