HONG KONG.- Today at Tiancheng International Jewellery and Jadeite auction, a magnificent Natural Jadeite Pendent Necklace and Matching Ring was sold. Bidding opened at HK$55 million, after a total of 10 furious bids, the necklace was eventually sold at an astonishing hammer price of HK$78 million, HK$92.04 million ／US$11.8 million including buyer’s premium, setting a new world record for cabochon jadeite.

Wang Jie, Managing Director of Tiancheng International, comments on the auction today, “It was a great success. We are very delighted with the outstanding result of this necklace set. Tiancheng International, the buyer and the consignor are excited by the fetched price. This magnificent jadeite necklace set will be inherited with a unique name entitled by the buyer. We are extremely proud to achieve this important deal.”

Mr. Stewart Young, Director of Tiancheng International’s Jewellery Department, remarks, “We are very pleased to see such an enthusiastically-received sale today, with bidders joining from China, Hong Kong, Taiwan and the rest of the world. The heated bidding tells the market’s strong demand for the high-end jewellery, testifying the success of Tiancheng International’s focus on such a niche. Of captivating translucency and fine texture, every cabochon emanates spectacular sheen, with size measuring up to 25.10 x 20.39 x 8.55mm. It is extremely exquisite to match eleven full-bodied cabochons of similar size and luminous saturation, making this an astonishing treasure of impeccable quality.”