CaratSotheby's offers HKD 2m colored-diamond earrings without reserve
The lot pairs a 2.08-carat light pink pear shape with a 2.21-carat very light pink VVS1 stone. More than 300 pieces sell in Hong Kong, including Graff, Tiffany and Hermès.
No reserve on top. Sotheby's put a pair of colored-diamond earrings carrying a HKD 2 million high estimate, or $255,050, into its Hong Kong Fine Jewelry sale without a reserve.
If you bid in the room: no reserve means the lot sells at whatever it draws, not at a floor.
If you value pink goods: three of the five largest named lots carry no reserve, so the day prints real clearing levels.
What this is not: a result. Every figure here is an estimate set before the sale.
| Lot | Estimate (HKD) | Estimate (USD) | Reserve |
|---|---|---|---|
| Colored-diamond earrings, 2.08 ct + 2.21 ct | 2,000,000 high | $255,050 high | none |
| Fancy vivid purplish pink ring, 0.88 ct, I2 | 800,000 – 1,500,000 | $102,022 – $191,292 | not stated |
| Ruby and diamond demi-parure, 26.78 ct rubies | 600,000 – 1,200,000 | $76,518 – $153,037 | none |
| Mozambique ruby ring, 3.10 ct | 500,000 – 1,000,000 | $63,765 – $127,531 | none |
| Unmounted diamond, 5.13 ct, F, VVS2 | 650,000 – 950,000 | $82,895 – $121,154 | not stated |
IThree top lots without reserve
Estimates, not floors. The earrings, the ruby demi-parure and the Mozambique ruby ring are all offered without reserve. Each sells to the highest bid, whatever that bid is.
The parure carries weight. Sixty Burmese rubies totalling 26.78 carats sit with 12.65 carats of diamonds, against a HKD 600,000 to 1,200,000 range.
IIPink runs through the sale
Two grades, one lot. The headline earrings pair a 2.08-carat light pink pear shape with a 2.21-carat very light pink VVS1. The surmounts carry very faint and very light pink brilliants.
Vivid costs more. A 0.88-carat fancy vivid purplish pink, I2 clarity, carries a HKD 800,000 to 1,500,000 estimate, or $102,022 to $191,292.
IIIA second sale in eight days
Two Hong Kong rooms. Sotheby's runs this day sale of more than 300 pieces on 9 September. A separate high jewellery sale of more than 200 lots follows on 17 September.
Different sale, different scale. The 17 September sale is led by ruby earrings at a HK$20 million estimate, roughly ten times the high on this lot.
01What would change this call+
A withdrawal, or a lot moved to a later sale. The earrings are catalogued and offered without reserve, so the only figure that survives the day is the hammer price.
02What no reserve means+
A reserve is a confidential minimum below which the seller will not sell. Without one, the lot goes to the highest bid in the room even if that bid sits under the low estimate. Houses use it to guarantee a sale and to signal a motivated seller, and it makes the result a cleaner read on demand than a bought-in lot.
03Method · the desk’s arithmetic+
Lot descriptions, carat weights, clarity grades, reserve status and both currencies are Rapaport's, published 8 September 2026, reporting Sotheby's Fine Jewelry sale in Hong Kong on 9 September 2026. The implied rate across the five named lots is 7.84 Hong Kong dollars to the dollar and is Rapaport's, not Carat Capital's. Sotheby's own catalogue was not fetched for this piece and every figure here traces to the Rapaport report. The comparison with the 17 September sale is arithmetic on the two published high estimates, HK$20 million against HKD 2 million.
04Sources1 document
HK$20m ruby earrings lead Sotheby's Hong Kong sale on 17 September
The larger Hong Kong sale eight days later, and what it is estimated at.
The trade, filed before the New York open.
Prices, tenders and the one story that moved the industry overnight. Ninety seconds.
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