Chow Tai Fook Holds Jewelry Auction

HONG KONG—Chow Tai Fook, the largest jeweler in China, held an auction of one-of-a-kind precious stone pieces on Saturday. The auction, which was held over a four-course dinner at the Grand Hyatt hotel raised 33 million Hong Kong dollars, or $4.26 million – on par with its last such auction in 2013. Hong Kong-based Chow Tai Fook was originally planning the auction in October when the city was still in the grip of pro-democracy demonstrations, but the company delayed the event for undisclosed reasons. The dinner auction was attended by about 300 of Chow Tai Fook’s top VIP customers from China and Hong Kong as well as a handful from South Korea, where Chow Tai Fook is looking to expand. There were also phone bidders from Vietnam, Cambodia and elsewhere in Southeast Asia. Two pieces that fetched the highest price sold for 4.1 million Hong Kong dollars, or $529,015 each. One, called “The Flamingo” is an 18-carat rose and white gold necklace and earrings incorporating pink sapphires, diamonds and red tourmalines in the jeweler’s signature flamingo motif. Another, called “The Burgeon,” is a set of a necklace and earrings featuring natural green and icy jade with pear-shaped and round diamonds set in 18-carat

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