As part of Hong Kong Luxury Week, Christie’s is set to showcase two exquisite pieces of jewellery—a 35.09-carat Kashmir sapphire and a 13.22-carat Burmese ruby ring—during the Magnificent Jewels live auction on 27 May 2025. Both items are from an important private collection and will appear on the dock for the first time in years.
First up, The Regent Kashmir, a remarkable sapphire, boasts an estimate of a jaw-dropping range: HK$65 million to HK$95 million. With its captivating “royal blue” hue, this gem is distinguished by its exceptional clarity and the rarity of its origin. As the most valuable piece of Kashmir sapphire jewellery offered by Christie’s globally in the past five years, it is anticipated to generate intense interest from collectors and connoisseurs alike. Its velvety appearance and historic significance render it a once-in-a-generation masterpiece.
In tandem with The Regent Kashmir, The Regal Ruby is estimated to fetch HK$50 million to HK$80 million, and this 13.22-carat Burmese ruby ring is poised to be the largest and most valuable ruby sold at Christie’s in Hong Kong over the last decade. Unheated rubies of this size are exceedingly scarce, and The Regal Ruby is particularly noteworthy for its vivid colour and outstanding transparency. Its provenance and quality further ensure that it stands out as a natural treasure in the gemstone market.
Ronny Hsu, head of sales, jewellery at Christie’s Asia-Pacific—and one of the key speakers at the Leaders of Luxury Summit 2024—points out what makes these pieces so significant during an exclusive chat with Robb Report Hong Kong.“Both The Regent Kashmir and The Regal Ruby are exceptional for their extraordinary size and rarity. Sapphires of over 10 carats with the coveted ‘royal blue’ colour grading, as well as Burmese rubies exceeding five carats with no heat treatment, are incredibly rare and almost never seen in today’s market. These qualities firmly establish them as some of the most significant gemstones available today,” Hsu says, having seen the pieces up close with white-gloved hands. “The Regent Kashmir sapphire holds immense historical significance, as it originates from the legendary Kashmir mines, which were only in production for a brief five-year period between 1882 and 1887.”
Around the world, serious collectors keep an eye out for high-quality coloured gemstones with particular interest in sapphires that originate from Kashmir, Burma, and Ceylon; rubies from Burma; and, of course, emeralds from Colombia. “These natural treasures are not only celebrated for their beauty and rarity but also valued as timeless collectibles, driving strong interest among discerning collectors worldwide,” Hsu explains.
Presenting high-value pieces like these comes with its own set of challenges, especially in a volatile market. The exceptional nature of these gemstones generates significant excitement and anticipation, attracting serious bidders only. While market fluctuations can create uncertainty, the rarity and quality of these pieces typically shield them from broader economic trends, making them highly sought after by connoisseurs worldwide.
“Rare, exceptional, and high-quality coloured gemstones, as well as coloured diamonds, have seen increasing demand in recent years due to three factors: their natural scarcity, uniqueness, and enduring appeal,” says Hsu. “Collectors are drawn to these pieces not only for their intrinsic beauty but also for their ability to hold cultural and historical significance. Additionally, there is a growing appreciation for gemstones with distinguished provenance and quality.”
Complementing these remarkable pieces are other notable items in the auction, including a 10.35-carat Colombian emerald and diamond ring, estimated to fetch between HK$6.8 million and HK$9.8 million, and a pair of Colombian emerald and diamond earrings weighing 7.03 and 6.92 carats, estimated at HK$5.5 million to HK$7.5 million. Rare pieces from famed jewellery houses—including Bulgari, Cartier, Harry Winston, Van Cleef & Arpels, and others—are also on offer as unique collections make an appearance on auction, often for the very first time. Hsu states, “We anticipate continued growth in this space, with coloured gemstones remaining a focal point for both seasoned collectors and new buyers seeking unique and timeless treasures.”
All images courtesy of Christie’s Images Ltd 2025.
