The Christie's spring auction in Hong Kong saw exceptional sales of exquisite jewellery and watches, as sales of jewels totaled HK$256,936,500 ($47,734,631) while sales amongst important watches amounted to HK$58,113,87.

The recession hasn't stopped buyers in Hong Kong from going after their most prized possessions as the top lot of the jewels sale was an extraordinary diamond pendant set with pear-shaped D colour. It is a flawless type IIa diamonds of 20.70 cts and 10.02 cts that sold for HK$25,860,000.

The leading sale amongst important watches was a magnificent Patek Philippe which sold for HK$2,840,000.

Tim Borune, International Co-Head of Christie’s Watch Department said, "The spirited bidding seen throughout the sale resulted in many of today’s offerings flying past their estimates – in some cases by as much as eight times."

The combined sales from the best and rarest Asian art jewels, watches and wine at the Christie's May sale made a whopping HK$1.07 billion.

The astounding figures reaffirms Hong Kong's position as one of the world's major centres for the art market, and the third largest sale centre for Christie's worldwide. 

Ken Yeh, Christie's Deputy Chairman, Asia, added, "Christie's sales have continued to attract an international and diverse range of buyers who look for the best in Asian art, watches, jewels and wine. 

Our encouraging results show that the demand continues to be strong among worldwide collectors who look for exceptional and rare works that are attractively estimated.”

» Record prices at Christie's HK sale