Bonhams Hong Kong sale led by 1950s emerald necklace, red spinel ring

The first clue sits in the center of the necklace: seven step-cut Colombian emeralds, weighing 50.00 carats in total, framed by more than 30 carats of vari-cut diamonds. That is the kind of construction collectors read like a small archive. The geometry, the calibrated layout and the mid-century date, circa 1950, point to a high-jewelry language built for presence rather than excess, where strong stone shape and disciplined mounting did the talking.

Bonhams will offer the piece in its Exceptional Jewels and Jadeite sale in Hong Kong on 24 May 2026 at 14:00 HKT at Six Pacific Place. The auction is billed as 148 lots, with 147 items listed for online bidding, and it is led by the emerald-and-diamond necklace with an estimate of HK$4,800,000 to HK$5,500,000. The other headline jewel is a 16.50-carat red spinel and diamond ring, described by Bonhams as Tanzanian in origin and estimated at HK$1,800,000 to HK$2,400,000. Katy Lai, Bonhams’ Head of Sale and Specialist of Jewellery, called the sale a “vibrant celebration of colour,” and the house describes the necklace as a “remarkable period piece” that exemplifies timeless elegance and craftsmanship.

For vintage-jewelry readers, the lesson is not simply that the stones are large. It is that the emeralds are step-cut, the diamonds are vari-cut, and the whole composition is anchored in a recognizable era of design. Step-cuts demand clean material and reward clarity, which is why Colombian emeralds of this size remain so compelling in the market. On smaller pieces, the same logic applies: even a modest emerald ring or brooch can reveal its pedigree through cut consistency, stone matching, and how carefully the mount was made around the gem rather than forced over it.

The sale also includes a very fine jadeite and diamond necklace and pendent earring set, accompanied by Hong Kong Jade & Stone Laboratory reports stating the selected jadeites are natural with no resin detected, or “A Jade.” That kind of documentation matters because jadeite claims can be vague, and treatment disclosure is often where value either holds or collapses. Other notable lots include a pair of unmounted step-cut Colombian emeralds weighing 31.20 and 30.12 carats, a 5.31-carat cushion-shaped Kashmir sapphire ring, an unmounted fancy vivid yellow diamond of 4.10 carats, and emerald and diamond pendent earrings. Together, the lineup shows Hong Kong still functioning as a serious market for colored stones and jadeite, where the most revealing details are often the ones hidden in the mount, the report and the cut.