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Christie's Hong Kong sees record sales

December 01, 2006

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Hong Kong—The trend of ever-increasing watch and jewelry auction prices held strong this week, as sales in both categories broke records at Christie's Hong Kong.

An "Important Watches" sale held on Wednesday brought in a total of $8.3 million. A Magnificent Jewellery and Jadeite Jewellery sale held on Thursday netted $39.4 million, the highest yield ever for a jewelry auction in Asia.

The top lot of the watch sale, an 18-karat-gold Patek Philippe reference 2523 dual-crown world-time watch with 24-hour indication and a gold guilloché dial, sold for $714,000, the highest price ever paid for a watch sold at a Christie's auction in Asia. The second-highest lot at the auction was an 18-karat-gold Patek Philippe reference 3973 watch with automatic minute-repeating, which sold for $263,000.

The top lot of the jewelry sale was a single-strand jadeite necklace with 63 perfectly matched beads, which sold for $2.9 million. The second-highest lot at the auction was a 37.52-carat sugarloaf Burmese ruby ring, which sold for $1.3 million.
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