However, the top lot at this auction was a colourless diamond. The Fortune Five, an oval brilliant-cut gem weighing 55.55 carats, was sold for HK$45.2 million. This D flawless diamond, with excellent polish and symmetry, is also certified as Type IIa, a category reserved for diamonds of the highest chemical purity that often exhibit exceptional transparency.

Among the rarest and most coveted coloured gemstones are unheated blue sapphires of certified Kashmiri origin. This Sotheby’s auction featured a fine example: a cushion-shaped stone weighing 16.65 carats. Accompanied by a report from SSEF, the stone is described as having “an attractively saturated blue colour and very fine purity”. Set in a Harry Winston ring with a maker’s mark of Jacques Timey, this prized item sold for HK$19.81 million, achieving the third-highest price at the auction.

Equally desirable are unheated Burmese rubies in pigeon blood red. A ring featuring a 5.07-carat cushion-shaped ruby of this highly prized colour with certified Burmese origin fetched HK$12.67 million at the auction.

Elsewhere, Phillips reported a 20 per cent increase in the total take at the house’s spring Hong Kong auction, hosted in March, compared with the previous season – underscoring the resilience of global demand for rare and important jewellery pieces.

The star lot at Phillips’ auction was a 15.51-carat round brilliant-cut fancy vivid yellow diamond, set in a ring alongside smaller diamonds. It led the auction, fetching HK$8.9 million. The second highest-priced lot was a necklace adorned with turquoise and diamonds by Van Cleef & Arpels, circa 1985. It realised HK$4.57 million, a pleasant surprise given its estimate was between HK$900,000 and HK$1.2 million.

At Poly Auction Hong Kong’s spring sale, diamonds and gemstones in vibrant colours captivated bidders. The top lot was a 5.02-carat fancy pink diamond in pear shape, which sold for HK$13.2 million. It was followed by a ring crowned with a spectacular 11.4-carat Mozambique ruby in oval shape, accented with diamonds, which fetched HK$5.64 million. Another highly prized lot was a jadeite cabochon of exceptional colour and translucency set in a ring with diamonds that fetched HK$4.56 million.

China Guardian’s Hong Kong spring auction featured interesting antique jade pieces. These included a 5cm-long celadon jade “figural” pendant from the early Qing period, bearing the Zhiting mark, and an archaic pale celadon jade disc, or huan.

Given the strong momentum established by these recently concluded auctions, expectations are high for upcoming ones.

The eagerly anticipated Magnificent Jewels spring live auction, hosted by Christie’s Hong Kong on May 27, is headlined by a rare Cartier India Tutti Frutti necklace.

The estimate for this sumptuous piece ranges between HK$28 million and HK$38 million. Variations of this famously vibrant design are all adorned with intricately carved coloured gemstones and accented with diamonds.

Another highlight is a necklace featuring two pear-shaped diamonds of D colour, of flawless and internally flawless clarity, weighing 20.70 carats and 10.07 carats respectively. The estimated value of this necklace is between HK$15 million and HK$25 million.

The auction will also showcase a ring set with a 3.33-carat cushion-shaped diamond of fancy deep blue colour, of internally flawless clarity and Type IIb with an estimate set in the same range.

At the Bonhams’ Hong Kong Jewels and Jadeite auction, also in May, the top lot is a ring set with a rectangular fancy vivid yellow diamond, weighing 25.88 carats, of VVS1 clarity and flanked by two tapered baguette-cut diamonds. Its estimate ranges between HK$10.5 million and HK$18 million.

Here too, sought-after Cartier designs are on the block. These include a diamond Love cuff bracelet, circa 2010, with an estimate between HK$450,000 and HK$850,000; a pair of Cartier diamond and coloured diamond Dragon earrings, circa 2011, with an estimate of up to HK$280,000; and pieces from Cartier’s Panthère range, which include a bangle with an estimate of up to HK$480,000, and a pair of earrings, offered at up to HK$280,000.