April 23, 2026
Diamond, Ruby, Emerald and Sapphire ….
Sotheby’s Hong Kong takes the stage this week, Thursday, April 23, with a High Jewelry auction built around the jewelry houses and gems we all expect—Cartier, Bvlgari, Van Cleef & Arpels, along with Kashmir sapphires, Colombian emeralds, and Burmese rubies.
But this time, the real focus is on a single unmounted diamond—and the story built around it.
The Diamond
At the center of the sale is this 28.88-carat De Beers Jwaneng diamond (seen below), marking the beginning of a new collaboration between De Beers and Sotheby’s to present exceptional diamonds, not just as polished stones, but as complete works of art—tracing their path from mine to market – the story, the journey.
This story begins at Botswana’s Jwaneng mine—“a place of small stones”—where a 114.83-carat not-so-small rough diamond crystal was recovered, and then followed through analysis, planning, and cutting into the finished 28.88-carat round brilliant now heading to auction.
Numbers Matter
Even the final weight appears considered (with “8” long associated with prosperity and good fortune in Asian markets), adding one more layer to how this stone is being presented.
The De Beers Jwaneng diamond is accompanied by GIA report no. 2239353167, dated 17 February 2026, stating that the diamond is Type IIa, D color, Flawless, with Excellent cut, polish, and symmetry. It’s not often we get to point this out—but this is, by definition, a “perfect” diamond.
Unmounted Diamond | 28.88 carats
Estimate: 17,000,000 – 22,000,000 HKD
Lot Sold: 21,030,000 HKD
The brilliant-cut diamond weighing 28.88 carats.
Accompanied by GIA report no. 2239353167, dated 17 February 2026, stating that the diamond is D colour, Flawless, Excellent Cut, Polish and Symmetry; Also accompanied by a diamond type classification letter stating that the diamond is determined to be a Type IIa diamond. Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency.
Overall in excellent condition. Accompanied by GIA report no. 2239353167, dated 17 February 2026, stating that the diamond is D colour, Flawless, Excellent Cut, Polish and Symmetry; Also accompanied by a diamond type classification letter stating that the diamond is determined to be a Type IIa diamond. Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency. Please refer to the report and letter for further details.
And now let’s take a look at more beautiful, and gemologically important pieces in this week’s Hong Kong Sotheby’s High Jewelry auction!
From the “perfect” diamond, let’s continue through the sale with more gemological standouts—beginning with a 15-carat Kashmir sapphire.
An Important Sapphire and Diamond Ring | Created by Ronald Abram
Estimate: 13,000,000 – 18,000,000 HKD
Lot Sold: 15,616,000 HKD
The platinum ring features a cushion-shaped sapphire weighing 15.33 carats, flanked by two large trapeze-shaped accent diamonds, estimated at 1.5-2 carats each.
As one would expect for a Kashmir sapphire of this caliber, the stone is accompanied by reports from SSEF, Gübelin, and AGL.
The SSEF report no. 151076, dated 7 January 2026, states that the sapphire is of Kashmir origin, with no indications of heating.
The Gübelin report, no. 26011220, dated 3 February 2026, also states that the sapphire is of Kashmir origin, with no indications of heating. This report has an additional appendix letter stating that the sapphire “… possesses a richly saturated and homogeneous colour, combined with a high degree of transparency, and a finely proportioned cut, … has been spared thermal treatment. Such a combination of characteristics is rare in natural Kashmir sapphires of this size”.
And finally, an AGL report, no. 1153707, dated 20 January 2026, stating that the sapphire is of Classic™ Kashmir origin, with no gemological evidence of heat and clarity enhancement.
*The accent diamonds have been graded in the mount as G-H colour, and “mostly VS” clarity.
Fancy Vivid Purplish Pink Diamond and Diamond Ring | 2.86 carats
Estimate: 6,000,000 – 9,000,000 HKD
Lot Sold: 5,760,000 HKD
This 18K white and yellow gold ring centers a cushion-shaped Fancy Vivid Purplish Pink diamond weighing 2.86 carats, flanked by two large shield-shaped diamonds.
Now here’s an interesting contrast to the Kashmir sapphire above. Important sapphires will typically have three lab reports, SSEF, Gübelin, and AGL. Fancy color diamonds, on the other hand, need just one report … from GIA.
The GIA report, no. 1186180202, dated 27 February 2017, states that the 2.86-carat diamond is Fancy Vivid Purplish Pink, Natural Colour, I2 clarity, with Strong Blue fluorescence.
Something worth noting: the catalog gives no details on the weight or quality of the side diamonds. And as Sotheby’s itself points out, the GIA report is now more than nine years old and may need an update.
One more thing to watch: clarity. From the image above, the inclusions do not appear to have any major impact on the diamond’s overall face-up appearance. If that changes in person, it could affect how bidders respond. Something to watch.
Jadeite and Diamond Ring
Estimate: 3,900,000 – 5,000,000 HKD
This 18K white gold and diamond ring features “a highly translucent oval jadeite cabochon of vivid green colour,” accented by pear-shaped and round brilliant-cut diamonds.
In jade terms, “highly translucent” is strong language—near the top end of the transparency range and firmly in premium territory.
As for the measurable details, the jadeite cabochon measures approximately 21.23 x 17.36 x 10.25 mm, and is accompanied by a Hong Kong Jade & Stone report, no. FC 0026, dated 20 March 2026, stating that the jadeite is of Burmese origin, not subjected to any form of chemical treatment, and is classified as “Natural Fei Cui – Type A.” This information, along with its nice, even, saturated color, makes this gem a winner.
Sotheby’s mentions that the jadeite shows “some white clouds commonly seen in natural jadeite, not noticeable under normal lighting.”
The accent diamonds have a total weight of approximately 1 to 2 carats.
Alexandrite Ring | 7.08 carats
Estimate: 1,800,000 – 3,000,000 HKD
Here we have an 18K white gold ring set with a pear-shaped alexandrite weighing 7.08 carats.
It is accompanied by two gem lab reports. The first, from AGL (report no. 8091331, dated 10 February 2023), states that the alexandrite is of Brazilian origin, with no gemological evidence of enhancements or treatments present. The second, from Gübelin (report no. 26037514, dated 24 March 2026), likewise concludes that the stone is of Brazilian origin, with no indications of treatment, and notes a strong colour-change.
When we talk alexandrite, Russia is obviously the historic source everyone knows, and Sri Lanka belongs in that classic locality conversation as well. But Brazilian material, even as a more modern source, has earned its own following for producing stones with strong, beautiful colour-change—exactly the trait collectors are looking for.
Unmounted Paraíba Tourmaline | 6.12 carats
Estimate: 1,200,000 – 2,000,000 HKD
Lot Sold: 1,280,000 HKD
And speaking of important Brazilian gems, the oval modified brilliant-cut Paraíba tourmaline we see here is confirmed as Brazilian in origin.
This is that deep, saturated “Windex Blue” colour that immediately brings Brazilian Paraíba to mind.
The gem is accompanied by a GIA report, no. 6385970090, dated 28 December 2021, stating that the Paraíba tourmaline is of Brazilian origin, with no indications of heating.
It is also accompanied by a Gübelin report, no. 22121131, dated 4 January 2023, likewise stating that the Paraíba tourmaline is of Brazilian origin.
The stone weighs 6.12 carats.
We do not need much more information than that. Just look at the color!
Lavender Jadeite Bangle and Pair of Diamond Bangles
Estimate: 150,000 – 240,000 HKD
Lot Sold: 128,000 HKD
And speaking of color, here we have a rare natural color, lavender jadeite bangle of good translucency, with flattened inner rim. This is shown here with two thin bangles decorated with round brilliant-cut diamonds, mounted in purple titanium.
We’re always curious how lavender jadeite performs at auction. So we will be watching.
A Rare Pair of Emerald and Diamond Earclips, Mount by Harry Winston | 21.60 carats & 21.11 carats
Estimate: 10,000,000 – 18,000,000 HKD
Lot Sold: 12,800,000 HKD
While color is certainly a theme in our reviews, here we are also talking size.
This pair of emerald and diamond earclips features two square emerald-cut emeralds, weighing 21.60 and 21.11 carats, respectively. Wow! They are further embellished with pear-shaped emeralds, along with pear-shaped and round brilliant-cut diamonds, mounted in platinum and 18 karat yellow gold—and, of course, signed Harry Winston.
When we review reports on emeralds, we are usually looking for two things: country of origin and degree of enhancement. The GRS report here adds a third point of interest—a colour description that, while not internationally standardized, is still meaningful to gemologists and consumers alike.
The earrings are accompanied by two Gübelin reports (one for each featured emerald), no. 23122191 and 23122190, both dated 9 January 2024, stating that both emeralds are of Colombian origin, with indications of minor clarity enhancement using a traditional filler (oil-type).
They are further accompanied by AGL reports no. 1137174 and 1137173, both dated 7 December 2023, likewise stating that both emeralds are of Colombian origin, with minor clarity enhancement.
There is also a GRS report, no. GRS2026-039590, dated 24 March 2026, stating that the emerald is of Colombian origin, with indications of minor clarity enhancement. That report includes an appendix letter stating that the emerald(s) are “reminiscent in hue” of stones described as “Muzo Green” and commonly known in the trade as “Old Mine” emeralds.
And with another 20-plus carats of diamonds framing the pair, these earclips are clearly meant to make a statement.
Fancy Vivid Yellow-Orange Diamond Ring | 3.02 carats
Estimate: 3,700,000 – 5,500,000 HKD
This 18 karat white and pink gold ring features a rounded-cornered rectangular modified brilliant-cut Fancy Vivid Yellow-Orange diamond, weighing 3.02 carats.
The diamond is accompanied by GIA report, no. 1232841952, dated 16 January 2026, stating that the Fancy Vivid Yellow-Orange diamond is Natural Color, VS1 Clarity.
We thought this was interesting, as Vivid Yellow-Orange is not only a beautiful color, it is also extremely rare. In color grading terminology, if there are two distinct colors, but no dominant hue, then the description is written with a hyphen, as in this Yellow-Orange diamond. If, as an example, there were more yellow than orange, yellow as the dominant hue and orange as the secondary hue, then the color would be described as Orangy-Yellow.
Cartier, An Impressive Coloured Stone and Diamond ‘Tutti Frutti’ Pendent Necklace
Estimate: 6,500,000 – 11,500,000 HKD
Lot Sold: 21,640,000 HKD
Now this is fun—and luxurious. In one auction piece, we have a diamond briolette, a triple-strand necklace of emerald beads, loving parrots with Tahitian mother-of-pearl beaks, and the classic definition of Tutti Frutti—with carved emerald, ruby, and sapphire leaves in the style collectors instantly recognize.
Designed as a pair of embracing parrots pavé-set with round brilliant-cut diamonds, the necklace is accented by circular-cut emerald eyes and black mother-of-pearl beaks, then further embellished with carved rubies, emeralds, sapphires, and brilliant-cut diamonds.
Suspended below is a diamond briolette, all set above a triple-strand of emerald beads, joined by a clasp decorated with more carved rubies, emeralds, sapphires, and brilliant-cut diamonds. The necklace is mounted in platinum and 18 karat gold, measuring approximately 395 mm in length, and signed Cartier.
And wonderfully, it is accompanied by a certificate of authenticity from Cartier.
A Bvlgari, Sapphire and Diamond Ring | 25.89 carats with Two Country of Origins
Estimate: 1,700,000 – 2,700,000 HKD
Lot Sold: 1,792,000 HKD
Not every important auction sapphire has to be Kashmir. But that said, this one brings an added twist to that notion. The lab opinions for this sapphire on country of origin do not agree. One report notes that it is from Ceylon, while the other two say it is Burmese.
The platinum and diamond ring is set with an impressive emerald-cut sapphire weighing 25.89 carats, flanked by two tapered baguette diamonds.
It is accompanied by a Gübelin report, no. 26037565, dated 24 March 2026, stating that the sapphire is of Ceylon origin, with no indications of heating.
The other two older reports are from GRS and from Bellerophon.
The GRS report, no. GRS2024-081289, states that the sapphire is of Burmese origin, with no indication of thermal treatment.
The Bellerophon report, no. B23168, dated 3 April 2024, likewise states that the sapphire is of Burmese origin, with no indications of heating.
We make no judgment here, as sapphire country of origin determination can be highly challenging. But this is a useful reminder that a gem’s worth should not rest solely on the country named on a report. At the end of the day, beauty still matters most.
Cindy Chao Ruby, Coloured Diamond and Diamond ‘Butterfly’ Brooch*
Estimate: 1,200,000 – 2,400,000 HKD
Lot Sold: 2,176,000 HKD
Here, the story is less about the individual stones and more about the design, the creative use of gem materials, and the designer behind them. This is a creation by Cindy Chao, whose work has built an international following for sculptural, nature-inspired jewels that blur the line between jewelry and art.
Designed as a butterfly, the brooch is set with a cabochon ruby, along with an oval and a round brilliant-cut diamond, weighing 10.97, 1.01, and 0.30 carats, respectively. The ruby is described as translucent, medium-deep purplish red, with medium-strong saturation.
The wings are embellished with rose-cut and round brilliant-cut diamonds, while the antennae are tipped with two pear-shaped diamonds of yellow tint. The piece is mounted in 18 karat pink gold, signed Cindy Chao, numbered, and housed in a case stamped Cindy Chao.
It is accompanied by a Cindy Chao Certificate of Origin and Warranty.
Additional catalog notes state that the principal diamonds total approximately 39.23 carats, graded in the mount as averaging F-G color and mostly VS clarity. The yellow-tinted diamonds total approximately 0.83 carats.
We give you all of this detail about the stones, but for many bidders, the real draw here may be the artistry—and the name on the brooch: Cindy Chao.
* Cindy Chao is one of the modern jewelry world’s recognized artist-designers, known for highly sculptural one-of-a-kind pieces inspired by nature—butterflies, flowers, branches, movement, and organic form. Trained in architecture and raised in a family of sculptors, she approaches jewelry more like miniature art than traditional commercial design. Her annual Black Label Masterpieces are especially sought after, and select works have been exhibited by museums, giving her a level of crossover prestige collectors notice.
Pair of Fancy Light Brownish Yellow Diamond Pendant Earrings | 6.48 carats & 5.11 carats
Estimate: 480,000 – 650,000 HKD
Lot Sold: 768,000 HKD
This magnificent old pair of earrings features Old Mine Cushion-cut Fancy Light Brownish Yellow diamonds weighing 6.48 and 5.11 carats, respectively, each surmounted by an old European-cut diamond and fitted with hooks.
The principal Old Mine Cushion diamonds are accompanied by two GIA reports, no. 2524731862 and 6525731772, both dated 25 July 2025, stating that the 6.48 and 5.11 carat diamonds are Fancy Light Brownish Yellow, Natural Colour, with VVS2 and VS2 clarity, respectively.
Sotheby’s notes that the earrings are overall in very good condition, with the metal possibly silver-topped gold, showing discoloration and signs of wear commensurate with age. The accent old European-cut diamonds are estimated to weigh approximately 0.80 to 1.20 carats in total, possibly Y-Z or light brownish yellow colour, with VS-SI clarity as gauged and graded in the mount, and not tested for natural colour origin.
The old-style cutting, together with the brownish yellow colour, gives these earrings what many would simply call character. And we are all looking for character in the jewels we wear.
Van Cleef & Arpels, Pair of Coral, Chrysoprase and Diamond Earclips
Estimate: 240,000 – 450,000 HKD
Lot Sold: 614,400 HKD
To find a place in a Roskin Gem News Report auction preview, a jewel does not have to be the most expensive piece in the room. Case in point: this charming pair of Van Cleef & Arpels earclips of paisley motif, set with coral flowers and chrysoprase leaves, accented by round brilliant-cut diamonds, mounted in 14 karat yellow gold, and signed Van Cleef & Arpels.
This is the kind of lot we enjoy highlighting because it reminds us that gem interest is not measured only in carat weight or high estimate. Sometimes color, design, imagination—and the gem materials themselves—are more than enough.
The earclips are also accompanied by a letter of authenticity from Van Cleef & Arpels.
*Coral:
Potential bidders intending to export this lot are advised that certain permits may be required. Interested buyers should contact the Jewellery Department before bidding.
Coral has long been one of jewelry’s classic organic gem materials, prized for colour and carving potential. Today, however, certain types are subject to export controls—hence Sotheby’s cautionary note. – gr
Diamond and Enamel Ring
Estimate; 220,000 – 400,000 HKD
Lot Sold: 204,800 HKD
Do not judge this ring too quickly, because the reason it made our review is not the mounting—it is the central diamond. Take a close look. It appears to be a pear-shaped rose cut. It is not. But it is complicated—and that is exactly why we find it so interesting.
Designed as a stylized Indian cobra’s head, the ring is set with a “pear modified brilliant-cut” diamond weighing 4.44 carats, with two rose-cut diamond eyes and black enamel scales.
The principal diamond is accompanied by GIA report no. 7538925659, dated 17 November 2025, stating that the 4.44 carat diamond is L Colour with VS1 clarity. But it looks like a rose cut.
Now, here is the clever part. A closer look at the GIA report suggests a pavilion cut much like a rose-cut diamond, while the crown is a modern brilliant cut. The table is a very large 68%, with a total depth of only 37%, much of that depth in the pavilion.
In other words, the diamond is mounted upside down, with the rose-cut-like pavilion facing up. That makes this not just a cobra ring, but a smart design solution for a very specific diamond.
But what about the weight?
The complications do not stop there—and here, the Hong Kong auction, adds another wrinkle. The diamond is listed at 4.44 carats. In many Asian markets, the number four is considered unlucky, as its pronunciation can sound similar to the word for death.
We will definitely be watching this one at auction to see whether bidders appreciate the ingenuity as much as we do. Will bidders focus on the clever design—or the number on the report?
