Sotheby'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.
By The Auctions Desk
What changed
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.
What it means
- 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.
Key figures
| High estimate$255,050, offered without reserve | HKD 2m |
|---|---|
| Light pink pearone of the pair | 2.08 ct |
| Very light pinkVVS1 clarity | 2.21 ct |
| Pieces in the saleGraff, Tiffany and Hermès among them | 300+ |
Source: Sotheby's Fine Jewelry, Hong Kong, 9 September 2026 · Rapaport, 8 September 2026
Three 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.
| 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 |
Notes on this table
Source. Rapaport, 8 September 2026, reporting Sotheby's Fine Jewelry sale in Hong Kong on 9 September 2026.
USD. figures are Rapaport's own, at an implied rate of roughly 7.84 Hong Kong dollars to the dollar.
Reserve. reads none only where the source states the lot is offered without one; not stated means the source is silent, not that a reserve exists.
Pink 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.
A 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.
What to watch
- 9 SepThe Fine Jewelry sale. Results on the no-reserve lots set clearing levels.
- 17 SepSotheby's Hong Kong high jewellery sale, more than 200 lots.
- 28 SepHeritage's Fall Fine Jewelry Signature Auction in the United States.
The story so far
Go deeper
What 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.
What 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.
Method
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.
Sources
- Colored diamond earrings to headline Sotheby's auction - Rapaport 8 September 2026