Mouawad parure sells for $78,277 against a $153,085 high estimate
Bonhams Hong Kong sold the four-piece set for HKD 613,600 at its 2 September online sale, HKD 586,400 short of the high estimate. Every other named lot cleared inside its range.
By The Auctions Desk
What changed
The top lot missed. A Mouawad ruby, emerald and diamond parure led Bonhams' Hong Kong online sale at HKD 613,600, or $78,277. That is HKD 586,400 below the high estimate the house set.
What it means
- If you consign a branded suite: price the reserve off the parts. The set made 51.1% of its high estimate.
- If you buy at Hong Kong online sales: the band held. Three lots closed at HKD 179,200 each, all inside estimate.
- What this is not: a read on rubies or emeralds. One lot, one house, one online session.
Key figures
| Top lot51.1% of the high estimate | $78,277 |
|---|---|
| Shortfallagainst the HKD 1.2m high | HKD 586,400 |
| Jadeite ringsold inside its estimate | HKD 281,600 |
| In the parurerubies, emeralds and diamonds | 254 ct |
Source: Bonhams Online Jewellery, Hong Kong, 2 September 2026 · reported by Rapaport 7 September 2026, 10:17 UTC
The estimate missed by half
Half the top. Bonhams put HKD 1.2 million, or $153,085, on the parure at the top of its range for its 2 September online sale. It made HKD 613,600, or 51.1% of that mark.
The set is large. The suite runs to a necklace, a bracelet, earrings and a ring. It carries roughly 254 carats of gem material: 75 of rubies, 140 of emeralds and 39 of diamonds.
| Lot | Realized (HKD) | Realized (USD) | Against estimate |
|---|---|---|---|
| Mouawad ruby, emerald and diamond parure | 613,600 | $78,277 | 48.9% below high |
| Burmese jadeite ring, 2.90 ct diamonds | 281,600 | $35,924 | Inside range |
| Diamond necklace, detachable 1.66 ct stone | 179,200 | $22,860 | Inside range |
| 46 lavender jadeite beads, gem-set clasp | 179,200 | $22,860 | Inside range |
| Flower pendant, 5.02 ct fancy light yellow | 179,200 | $22,860 | Inside range |
Source. Rapaport, 7 September 2026, on Bonhams' Online Jewellery, Hong Kong sale of 2 September 2026.
High estimate. on the parure was HKD 1.2 million, or $153,085.
The 48.9%. , the 51.1% share and the implied rate of 7.8388 Hong Kong dollars to the US dollar are Carat Capital's arithmetic on Rapaport's paired figures.
Every other named lot held
Inside the range. A Burmese jadeite ring set with 2.90 carats of diamonds made HKD 281,600. Rapaport reports it sold within its estimates, as did each of the three lots below it.
Three lots tied. A diamond necklace with a detachable 1.66-carat stone, a necklace of 46 lavender jadeite beads and a fancy-light-yellow flower pendant each made HKD 179,200.
Branded suites price on parts
The room was firm. The weakness sat in one lot, not in the session. Bulgari, Hermes and Chopard pieces also found buyers, Rapaport reports.
The rate implied. The paired Hong Kong dollar and US dollar figures imply a rate of 7.8388 to the dollar across both the result and the estimate.
What to watch
- 14-17 SepSotheby's and Phillips jewellery sales, the next dated totals on the calendar.
- 17 SepSotheby's Hong Kong jewellery sale, the next Asian test of the same buyer pool.
- 24 SepMorphy Auctions' 357-lot Fine Jewelry and Watches sale, Denver, Pennsylvania.
The story so far
- Christie's watch sales rise 39%Geneva's May rare watch sale made $42.2 million.
- 39 of 48 lots away in SydneyA Bonhams Australia sale sold 39 of 48 jewellery lots.
Go deeper
What would change this call
A second Asian sale in which a branded suite clears its high estimate. That would make this one consignment mispriced, not a signal about how the room values a maker's name.
What a parure is
A parure is a matched suite of jewellery designed to be worn together, here a necklace, a bracelet, earrings and a ring in one gem palette. It is estimated and sold as a set, which is why a house's number on a parure is a bet on a buyer who wants all four pieces, not a sum of what the stones would fetch apart.
Method
Figures are Rapaport's, published 7 September 2026 at 10:17:21 UTC and read from the article's own schema.org datePublished field. The sale is Bonhams' Online Jewellery, Hong Kong, held 2 September 2026. Rapaport carries the same result on a second page in rounded form, $78,200 against a $153,000 high estimate; the article body's $78,277 and $153,085 are used. The 48.9% shortfall, the 51.1% share of the high estimate, the HKD 586,400 difference, the 254 carats of gem material in the parure and the implied rate of 7.8388 Hong Kong dollars to the US dollar are Carat Capital's arithmetic on Rapaport's paired figures. Bonhams published no total for the session, so the parure's result cannot be set against a sale-wide figure.