Poly Auction Hong Kong Prepares for High Jewelry and Important Watches Sale Highlighted by Rare Jadeite and Colored Gemstones

The global luxury auction market is once again setting its sights on Hong Kong as Poly Auction prepares for its upcoming High Jewelry & Important Watches sale on October 6. Headlining the prestigious event is a magnificent jadeite and diamond necklace, which is expected to command a staggering HKD 25 million, equivalent to approximately $3.2 million. This marquee piece underscores an auction catalog that features more than 240 exceptional lots, heavily weighted toward high-end colored gemstones, rare diamonds, and culturally significant jadeite items. As collectors, investors, and high-net-worth individuals gather in the financial hub, this autumn auction serves as a critical temperature check for the health and resilience of the upper echelon of the international secondary jewelry market.

Main Facts of the October 6 Flagship Auction

The upcoming sale by Poly Auction Hong Kong brings together a meticulously curated selection of over 240 fine jewels, placing a strong emphasis on investment-grade colored stones. Among these, Burmese rubies, Kashmir and Sri Lankan sapphires, Paraiba tourmalines, and fancy-colored diamonds take center stage alongside traditional cultural treasures like high-transparency jadeite.

The undisputed top lot of the catalog is a breathtaking necklace composed of 39 matching Burmese jadeite beads, complemented by an intricate arrangement of pear, rose, and circular-cut diamonds. Burmese jadeite of this caliber—characterized by its intense green saturation, fine crystalline structure, and exceptional translucency—remains one of the most sought-after assets in Asian and global luxury markets.

In addition to the leading necklace, the auction features a diverse spectrum of multimillion-dollar masterworks. Notably, a ring centering an octagonal-shaped, 11.88-carat Kashmir sapphire flanked by two shield-shaped diamonds has been assigned a pre-sale estimate of HKD 12 million to HKD 18 million ($1.5 million to $2.3 million). Another standout item is a ring showcasing a rectangular 3.71-carat fancy-intense-pink diamond with SI2 clarity, framed by circular-cut pink diamonds and tapered-baguette side stones, valued between HKD 11 million and HKD 15 million ($1.4 million to $1.9 million).

Chronology and Background of Poly Auction’s Fine Jewelry Season

The announcement of the October 6 sale fits squarely into the established autumn auction calendar for Hong Kong, a season historically recognized as the peak trading period for fine art, rare wine, and high jewelry in the region. Major auction houses traditionally stage their flagship sales in April and October, aligning with international buyer travel schedules and the regional peak of commercial activity.

Over the past decade, Poly Auction has steadily expanded its footprint in the fine jewelry sector, transitioning from a predominantly regional Asian art auctioneer into a formidable global player capable of sourcing museum-quality gems. The curation process for this specific October 2026 catalog began nearly six months prior, with international specialists traveling across Europe, North America, and various Asian financial centers to secure consignments from private collections and estate holdings.

By integrating rare Burmese rubies, such as the 50.37-carat total-weight necklace featuring oval and cushion-cut stones, alongside iconic Kashmir sapphires, the auction house has intentionally structured an event that bridges Western gemological tastes with traditional Asian preferences for jade and certified colored stones.

Comprehensive Breakdown of Top Ten Featured Lots

Beyond the headline necklace and the Kashmir sapphire ring, the top ten lots of the sale offer a comprehensive showcase of gemological excellence. The catalog is heavily populated with items that highlight rare carat weights, superior clarity grades, and highly desirable geographic origins.

• A Semi-Cylindrical Icy Jadeite Bangle: Estimated between HKD 4.5 million and HKD 6.5 million ($573,663 to $828,624), this piece exemplifies the pinnacle of modern jadeite lapidary work, featuring unblemished, glassy material prized for its purity.
• Burmese Ruby and Diamond Necklace: Comprising oval and cushion-cut Burmese rubies totaling 50.37 carats, each framed by pear, marquise, and circular-cut diamonds, estimated at HKD 3.2 million to HKD 4.8 million ($407,938 to $611,907).
• Fancy Intense Yellow Diamond Ring: Centering a cushion-cut, 15.81-carat, VS2 clarity diamond embellished with circular-cut diamonds, carrying an estimate of HKD 2.4 million to HKD 3.5 million ($305,953 to $446,179).
• Burmese Jadeite Cabochon Ring: A classic statement piece sporting a high-domed, vibrant green cabochon, estimated at HKD 2.3 million to HKD 3.3 million ($293,203 to $420,683).
• Peapod-Motif Jadeite Earrings: Designed as naturalistic peapods with carved jadeite plaques suspended from pear and circular-cut diamonds, estimated at HKD 2 million to HKD 3 million ($254,957 to $382,436).
• Burmese Ruby Drop Earrings: Featuring oval-cut 2.92- and 3.21-carat Burmese rubies surrounded by marquise and pear-shaped diamonds, estimated at HKD 1.6 million to HKD 2.4 million ($203,966 to $305,949).
• Sri Lankan Sapphire Earrings: Centering oval-cut 8.11- and 9.08-carat Sri Lankan sapphires encased in pear-shaped diamond frames, estimated at HKD 1.4 million to HKD 2.4 million ($178,471 to $305,949).

Official Responses and Market Positioning

While specific statements from consignors remain confidential due to standard auction house privacy protocols, leadership at Poly Auction has signaled strong confidence in the resilience of the high-net-worth collector base. Industry analysts observing the build-up to the October 6 event note that auction houses are increasingly leaning into tangible, scarce assets as a hedge against global macroeconomic volatility.

Spokespersons for Poly Auction have repeatedly emphasized that top-tier buyers are demonstrating an acute preference for signed pieces, certified unheated colored stones, and untreated imperial jadeite. This demand-driven trend has allowed auctioneers to maintain aggressive pre-sale estimates despite broader economic fluctuations across global stock and real estate markets. Market experts suggest that the careful curation of pieces under $1 million—such as the Sri Lankan sapphire and Burmese ruby earrings—is designed to attract younger, emerging collectors, while the multi-million dollar jadeite necklace and Kashmir sapphire target institutional-level private wealth funds and legacy collectors.

Broader Economic Impact and Industry Implications

The performance of the Poly Auction High Jewelry & Important Watches sale will provide vital data points regarding the broader luxury retail and investment sectors. Hong Kong continues to function as the premier gateway for luxury trade into mainland China and the broader Asia-Pacific region. Consequently, the bidding activity, sell-through rates, and hammer prices recorded on October 6 will be closely analyzed by competitors like Christie’s, Sotheby’s, and Phillips.

Furthermore, the prominence of Burmese jadeite and Kashmir sapphires in the catalog highlights the ongoing impact of geopolitical and environmental constraints on gemstone supply chains. With primary mining operations for top-tier Burmese jade and rubies severely restricted or entirely closed, existing inventory circulating in the secondary market has effectively become finite. This structural supply scarcity ensures that pieces featuring verified historic provenances continue to appreciate, reinforcing high jewelry’s dual status as wearable art and a robust alternative asset class. As the hammer prepares to fall on October 6, all eyes in the gemological community will remain fixed on Hong Kong to witness how these rare treasures perform in real-time market conditions.