2023 A 10.27 CARAT FANCY INTENSE YELLOW DIAMOND AND DIAMOND NECKLACE Suspending a rectangular fancy intense yellow diamond weighing 10.27 carats, within a vari-shaped diamond surround, to the chain further set with vari-shaped diamonds, altogether weighing 31.50 carats, mounted in 18K gold and platinum, necklace approximately 22.5 cm long GIA, 2014, report no. 2151988212, 10.27 carats, fancy intense yellow color, internally flawless clarity Please note that the reports are over 5 years old and may require an update 10.27克拉濃彩黃色鑽石配鑽石項鏈 18K金及鉑金鑲嵌10.27克拉方形濃彩黃鑽，項鏈配鑲不同形狀切割鑽石，鑽石共 重約31.50克拉，項鏈長約22.5cm 附GIA證書 HKD 1,200,000-1,800,000 USD 153,800-230,800 2023 37

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ARGYLE PINKS FROM THE KIMBERLEY AREA IN NORTHWEST AUSTRALIA Argyle mine is located in Kimberley area in northwest Australia. Since their open-pit production started in 1985, it has gradually become one of the largest diamond producing areas in the world. Among all the raw stones from Argyle mine, those of gem- quality only takes up about 5%, while the proportion of pink diamond and red diamond is even rarer, which is about 0.1%. Compared with other mining areas, the pink diamonds from Argyle has a stronger color and higher saturation. This mining area has also developed its own color rating system and certificates, which mainly divides the color into pink and purplish pink, pink rose, and grading from 1-9 depending on the intensity. Today, the Argyle mining area has been officially closed, which means that the diamonds from this area are more likely to appreciate. Today, pink diamonds bigger than 0.3 carats are very few and of great investment value. A pair of round-brilliant cut pink diamond earrings with Argyle certificate is presented by Poly this Fall. The color is rated as 7p, equivalent to the Fancy Pink in GIA. Both diamonds are more than 1.20 carats – a rare opportunity for our honourable collectors. The most valuable is that it comes from the famous Argyle mine, the best source of pink diamonds. The formation of pink diamonds is really difficult, which also leads to its scarcity. The famous Argyle mine is the main source of pink diamond output, and only 0.1% of the pink diamonds is produced each year; the pink diamonds with the size of over half a carat are so rare that its yearly output can only cover one palm. With the closure of the Argyle mine at the end of 2020, the rarity of pink diamonds will once again increase and become more difficult to find. The scarce quantity, the beautiful appearance and the rising value all show the unparalleled charm of pink diamonds. 阿蓋爾礦位于澳洲西北部的金伯利地區，自它們1985年全面性的露天生産開始，它漸漸成爲世界上最大的鑽石出産 地之一。在所有出自阿蓋爾礦的原石中，可切割的寶石級別約占5%左右，而粉鑽與紅鑽的占比則更爲稀少，約爲 0.1%。與其他礦區相比，阿蓋爾出産的粉鑽色澤更濃，飽和度更高，此礦區亦發展了自己的顔色評級系統和證書， 主要將粉鑽分爲紫粉，粉，玫瑰粉，並根據顔色強弱分別將它們分爲9個等級。 如今，阿蓋爾礦區已經正式停産，這意味著此産區的鑽石很大可能面臨 升值。如今，超過30分的阿蓋爾粉鑽便寥寥無幾，極具收藏與投資價 值。此次上拍的一對圓形明亮型切割的粉鑽耳環附有阿蓋爾證書，顔色 爲7P評級，相當于GIA中的彩粉級別。兩顆都超過1.2克拉，是難能可 貴的入手時機。 這枚1.01克拉濃彩粉鑽閃耀著迷人的粉色光芒, 美麗無與倫比。它的呈色 Location of the Argyle diamond mine in 經珠寶界重量級權威GIA實驗室鑒定為濃彩粉色(fancy intense pink)在 Western Australia. Source: Geoscience 彩寶中，被鑒定為濃彩粉色一般為擁有超高色彩飽和度以及顯色度的級 Australia 別，而粉色(pink)則為彩鑽中色澤更濃郁飽和度更低的一種，這兩種特 質的結合本身就極其罕見。曾經的一份GIA的市場調查顯示，在1500顆 粉鑽中，僅有不到百分之零點五的粉鑽可以達到類似的呈色，這也更加 突顯了其超高的收藏價值。 39

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2024 2024 A 1.01 CARAT FANCY INTENSE PINK DIAMOND AND FANCY INTENSE YELLOW AND DIAMOND RING Set with an oval-shaped fancy intense pink diamond of 1.01 carats, surrounded by 10 pear-shaped fancy intense yellow diamonds weighing 1.32 carats in total, to the circular-cut half hoop, mounted in 18K gold and platinum, ring size 6¾ GIA, 2019, report no. 1172253066: 1.01 carats, fancy intense pink colour, SI2 clarity Argyle Pink Diamonds Gem Identification and Authenticity Document, no. 362776, 1.01ct, 2PR color, clarity SI2 Inscription of the stone's Argyle Pink Diamond Identification Number, as indicated on its GIA certificate 1.01克拉濃彩粉色鑽石及濃彩黃色鑽石配鑽石戒指 18K金及鉑金鑲嵌1.01克拉橢圓形濃彩粉色鑽石，配鑲10顆梨形濃彩黃色鑽石共重約1.32克拉， 配鑲圓形切割鑽石，戒指6 3/4號 附GIA及Argyle Pink Diamonds證書 GIA證書上所顯示此鑽石的阿蓋爾礦山粉色鑽石的識別號碼 HKD 2,000,000-2,800,000 USD 256,400-359,000 41

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2025 2025 A PAIR OF 1.20 AND 1.20 CARAT FANCY PURPLISH PINK AND FANCY PINK DIAMOND AND DIAMOND EARRINGS Each set with a round brilliant fancy purplish pink and fancy pink diamond weighing 1.20 and 1.20 carats respectively, surrounded with pear-shaped diamonds, diamonds weighing 7.62 carats in total, mounted in 18K gold and platinum, earrings approximately 1.8 cm long GIA, 2013, report no.6127640045, 1.20 carats, fancy purplish pink, SI1 clarity, strong blue GIA, 2013, report no.5151282408, 1.20 carats, fancy pink, SI2 clarity, strong blue Argyle Pink Diamond, ID no. 92977, 1.20 carats, 7P color, SI2 clarity Please note that the reports are over 5 years old and may require an update 1.20及1.20克拉彩紫粉色及彩粉色鑽石配鑽石耳環 18K金及鉑金鑲嵌1.20及1.20克拉圓形彩紫粉色及彩粉色鑽石，圍鑲16顆梨形鑽石，鑽石 共重約7.62克拉，耳環長約1.8cm 附GIA及Argyle Pink Diamonds證書 HKD 5,200,000-6,800,000 USD 666,700-871,800 43

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2026 2026 A PAIR OF 10.47 AND 10.33 CARAT, D COLOR, TYPE IIA DIAMOND EAR PENDANTS Suspending a pear-shaped diamond weighing 10.47 and 10.33 carats respectively, from a pear-shaped diamond surmount weighing 1.03 and 1.12 carat respectively, connected by a circular-cut diamond, mounted in 18K gold, ear pendants approximately 3.4 cm long GIA, 2016, report no. 1182058558: 10.47 carats, D colour, VVS2 clarity, with excellent polish and symmetry, none fluorescence GIA, 2016, report no. 2175654264: 10.33 carats, D colour, VVS2 clarity, with excellent polish and symmetry, none fluorescence Also accompanied by GIA diamond type classification reports stating that the 10.47 and 10.33 carat pear brilliant diamond is determined to be Type IIa diamonds GIA, 2021, report no. 1379831955: 1.03 carats, D colour, internally flawless clarity, with excellent polish and symmetry, none fluorescence GIA, 2020, report no. 5366091667: 1.12 carats, D colour, internally flawless clarity, with excellent polish and symmetry, none fluorescence 10.47及10.33克拉D色Type IIa鑽石耳環 18K金鑲嵌10.47及10.33克拉梨形切割D色鑽石，頂部配鑲兩顆梨形鑽石，分別重約1.03及1.12克拉，配鑲圓形切 割鑽石，耳環長約3.4cm 附GIA證書 HKD 11,000,000-15,000,000 USD 1,419,300-1,935,400 45

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2027 2027 A 10.41 CARAT D COLOR, FLAWLESS, TYPE IIA DIAMOND Round brilliant-cut diamond of 10.41 carats GIA, 2021, report no. 6214948015: 10.41 carat, D colour, flawless clarity, excellent cut, polish and symmetry, none fluorescence Also accompanied by GIA diamond type classification reports stating that the 10.41 carats Round Brilliant diamond is determined to be Type IIa diamond. Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency 十全十美 10.41克拉Ｄ色TYPE IIA全美鑽石，淨度無瑕 10.41克拉圓形明亮切割D色全美鑽石，淨度無瑕，極優評級切割、對稱及打磨，無 熒光反應 附GIA證書及TYPE IIa證書 HKD 7,200,000-10,000,000 USD 929,000-1,290,300 47

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CHANEL 2029 2028 2028 2029 A MULTI-GEM AND DIAMOND 'PARROT' BROOCH A YELLOW SAPPHIRE AND DIAMOND 'REINDEER' BROOCH, BY CHANEL Designed as a parrot, set with circular-cut diamonds and calibré-cut rubies sapphires, emeralds and yellow sapphires, highlighted with ruby cabochon eye, mounted in 18K Designed as a reindeer, the antlers set with eight variously-cut rotating yellow gold, brooch 7.8 (L) x 2.6 (W) cm sapphires, accented with circular-cut diamonds, signed Chanel, no.14F198, brooch 6.0 (L) x 5.5 (W) cm 彩色寶石配鑽石「鸚鵡」胸針 18K金鑲嵌鸚鵡造型胸針，鑲嵌圓形切割鑽石，及方形切割紅寶石、藍寶石、祖母 香奈兒設計 黃色剛玉配鑽石「馴鹿」胸針 綠及黃色剛玉，點綴紅寶石蛋面眼睛，胸針尺寸7.8 (L)x2.6 (W)cm 18K金鑲嵌馴鹿造型胸針，鹿角鑲嵌八顆可晃動多種切割黃色藍寶石，裝飾圓形切 割鑽石，印有香奈兒品牌印記及編號，胸針尺寸6.0 (L)x5.5 (W)cm HKD 28,000-48,000 USD 3,600-6,200 HKD 38,000-60,000 USD 4,900-7,700 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve 49

2030 2031 2030 2032 A 3.83 CARAT SRI LANKA PINK SAPPHIRE AND DIAMOND RING Set with an oval-shaped pink sapphire weighing 3.83 carats, surrounded with rose- cut diamonds, accented with circular-cut diamonds, diamonds weighing 1.33 carats in total, mounted in 18K gold, ring size 6½ Accompanied by cert 3.83克拉斯里蘭卡粉色剛玉配鑽石戒指，未經加熱 18K金鑲嵌3.83克拉橢圓形天然粉紅色剛玉，圍鑲玫瑰形切割鑽石，點綴圓形切割 鑽石，鑽石共重約1.33克拉，戒指6 1/2號 附證書 HKD 60,000-100,000 USD 7,700-12,800 2031 2032 A 4.08 CARAT BURMESE SPINEL AND DIAMOND RING A 4.30 CARAT ZAMBIAN EMERALD AND PINK SAPPHIRE RING Set with an oval-shaped spinel weighing 4.08 carats, surrounded with rose-cut Set with a rectangular-shaped emerald weighing 4.30 carats, surrounded by pink diamonds, accented with circular-cut diamonds, diamonds weighing 1.55 carats in sapphires weighing 3.54 carats in total, mounted in 18K gold, ring size 6 3/4 total, mounted in 18K gold, ring size 6¼ GIA, 2021, report no. 6381937577, Zambia, clarity enhanced GRS, 2021, report no. GRS2021-078485, 4.08 carat, Burma (Myanmar), no indication of thermal treatment 4.3克拉贊比亞祖母綠配粉色剛玉戒指 18K金鑲嵌長方形祖母綠，圍鑲粉色剛玉總重3.54克拉，戒指6 3/4 號 4.08克拉緬甸尖晶石配鑽石戒指，未經加熱 附GIA證書 18K金鑲嵌4.08克拉橢圓形尖晶石，配鑲圓形切割鑽石，鑽石共重約1.55克拉，戒 指6 1/4號 HKD 60,000-80,000 附GRS證書 USD 7,700-10,300 HKD 80,000-120,000 USD 10,300-15,400 50 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2033 2033 A SET OF WHITE CULTURED PEARL AND DIAMOND JEWELRY Comprings a necklace with 33 graduated white South Sea cultured pearls measuring approximately 16.42-11.12 mm, to the diamond-set and 18K gold boule clasp; and a pair of earrings en suite, mounted in 18K gold, necklace approximately 46.5 cm long, earrings 3.2 cm 養殖珍珠配鑽石項鏈及耳環套裝 項鏈由33顆直徑約16.42-11.12mm白色南洋養殖珍珠串聯而成，18K金 打造鎖扣，鋪鑲鑽石，配同款耳環，項鏈及耳環長約46.5及3.2cm HKD 45,000-98,000 USD 5,800-12,600 51

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2034 2034 2035 A 65.13 CARATS BURMESE ‘PIGEON BLOOD’ RUBY AND 2035 DIAMOND NECKLACE A PAIR OF 5.05 AND 5.01 CARAT BURMESE RUBY AND DIAMOND EAR PENDANTS Set with 32 cushion and oval -shaped rubies weighing 65.13 carats in total, embellished with vari-shaped diamonds weighing 29.37 carats in total, pendant Each set with an oval-shaped Burmese ruby weighing 5.05 and 5.01 carats detachable, mounted in 18K gold, necklace approximately 20.5 cm long respectively, highlighted with a vari-shaped diamonds surmount and bottom, diamonds weighing 8.87 carats in total, mounted in 18K gold, ear pendants Gübelin, 2021, report no. 21041055, 65.13 carats, Burma(Myanmar), a few of the approximately 5.7 cm long rubies are called pigeon blood red, no indications of hearting, also accompanied with GRS, 2018, report no.GRS2018-010619, 5.05 carats, Burma( Myanmar), no indications information sheet titled untreated rubies of thermal treatment GRS, 2018, report no.GRS2018-010620, 5.01 carats, Burma( Myanmar), no indications 總重65.13克拉緬甸「鴿血紅」紅寶石配鑽石項鏈，未經加熱 of thermal treatment 18K金鑲嵌總重65.13克拉枕形及橢圓形緬甸紅寶石，配鑲多種形狀切割鑽石，鑽 石總重29.37克拉，挂墜可拆卸，項鏈長度約20.5cm 5.05及5.01克拉緬甸紅寶石配鑽石耳環，未經加熱 附Gübelin證書及附加信 18K金鑲嵌5.05及5.01克拉緬甸紅寶石，配鑲多種形狀切割鑽石，鑽石共重8.87克 拉，耳環長約5.7cm HKD 2,800,000-3,500,000 附GRS證書 USD 359,000-448,700 HKD 450,000-650,000 USD 57,700-83,300 53

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2036 2036 A TOTAL OF 21.71 CARAT COLOMBIAN EMERALD AND DIAMOND BRACELET, NO OIL Designed as a line of ten graduated rectangular-shaped emeralds, weighing 21.71 carats in total, alternated with ten squared-shaped diamonds, diamonds weighing 17.76 carats in total, mounted in platinum, length approximately 16.5 cm AGL, 2021, report no. 1115590/1-10, carats, total weight 21.71 carats, Colombia, no clarity enhancement 10 GIA, 2018-2021: 2.24 to 1.90-1.71 carats, D-E color, VVS1- VS2 clarity 總重約21.71克拉哥倫比亞祖母綠配鑽石手鏈，未經注油 鉑金鑲嵌十顆長方形祖母綠共重約21.71克拉，配鑲方形鑽石共重17.76克拉，手鏈 長約16.5cm 附AGL及GIA證書 HKD 3,800,000-4,800,000 USD 487,200-615,400 55

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2037 2037 A 10.85 CARAT COLOMBIAN EMERALD AND DIAMOND RING, NO OIL Set with a rectangular-shaped emerald, weighing 10.85 carats, flanked by two tapered baguette- cut diamonds weighing 1.91 carats in total, mounted in 18K gold, ring size 6 Gübelin, 2021, report no. 21081308, 10.85 carats, Colombia, no indications of clarity enhancement, also accompanied with information sheet titled untreated emeralds GIA, 2020, report no. 6351593703, 0.9 carat, D color, VVS2 clarity, excellent polish, none fluorescence GIA, 2020, report no. 2356594003, 1.01 carat, D color, internally flawless clarity, excellent polish, none fluorescence 10.85克拉哥倫比亞祖母綠配鑽石戒指，未經注油 18K金鑲嵌10.85克拉長方形祖母綠，兩顆階梯形鑽石共重1.91克拉，戒指6號 附Gübelin及GIA證書 HKD 3,800,000-4,500,000 USD 487,200-576,900 57

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2038 2038 A PAIR OF 6.92 AND 6.37 CARAT COLOMBIAN EMERALD AND DIAMOND EARRINGS, NO OIL Each set with a cushion-shaped emerald weighing 6.92 and 6.37 carats respectively, surrounded with pear-shaped diamonds, diamonds weighing approximately 22.61 carats in total, mounted in 18K gold, earrings approximately 2.4 cm long SSEF, 2018, report no. 101126, 6.927 and 6.373 carats, Colombia, no indications of clarity modification Gübelin, 2019, report no. 19038018, 6.92 and 6.37 carats, Colombia, no indications of clarity enhancement, also accompanied with information sheet titled untreated emeralds 32 GIA, 2018-2019, 0.50-0.97 carats, D-F color, VVS1-SI1 clarity 6.92及6.37克拉哥倫比亞配鑽石耳環，未經注油 18K金鑲嵌6.92及6.37克拉枕形祖母綠，圍鑲32顆梨形切割鑽石，鑽石共重約 22.61克拉，耳環長約2.4cm 附SSEF，Gübelin，及32張GIA證書 HKD 5,800,000-6,800,000 USD 743,600-871,800 59

2040 2039 2039 2040 A SAPPHIRE AND DIAMOND BROOCH A RUBY AND DIAMOND BROOCH of floral design, centering set with a sapphire cabochon, decorated with circular-cut Designed as a flower bud, the stem and leaves set with circular-cut diamonds, the diamonds, mounted in 18K gold, brooch 4.5 cm long petals pavé-set with circular-cut rubies, diamonds and rubies weighing approximately 1.48 and 5.82 carats respectively, mounted in 18K gold, brooch 6 cm long 藍寶石配鑽石胸針 18K金鑲嵌花朵造型胸針，花蕊鑲嵌一顆蛋面藍寶石，裝飾圓形切割鑽石，胸針長 紅寶石及鑽石胸針 約4.5cm 18K金鑲嵌花蕾造型胸針，花莖及葉鑲嵌圓形切割鑽石，花瓣舖鑲圓形切割紅寶 石，鑽石及紅寶石分別共重約1.48及5.82克拉，胸針長約6cm HKD 38,000-58,000 USD 4,900-7,400 HKD 28,000-58,000 USD 3,600-7,400 60 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

2041 A SET OF WHITE CULTURED PEARL AND DIAMOND NECKLACE AND RING Comprising a necklace, suspending two cultured pearls measuring 13.07 and 12.25 mm, necklace adorned throughout with seed pearls, and a ring set with a cultured pearl measuring 13.45 mm, decorated with circular-cut diamonds, all mounted in 18K gold, necklace approximately 64 cm long, ring size 6 養殖珍珠配鑽石項鏈及戒指套裝 項鏈由2顆直徑約13.07及12.25mm白色南洋養殖珍珠組成，項鏈由籽珠串聯； 18K金鑲嵌戒指，白色南洋養殖珍珠直徑約13.45mm，點綴圓形切割鑽石， 項鏈 長約64cm，戒指6號 HKD 28,000-58,000 USD 3,600-7,400 2041 61 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve

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2042 2042 A TOTAL OF 108.41 CARAT SAPPHIRE AND DIAMOND NECKLACE 2043 Suspending 11 graduating cushion and oval-shaped sapphires altogether weighing 2043 108.41 carats, center sapphire weighing 33.63 carats, each surrounded by vari-shaped A PAIR OF 5.2 AND 5.0 CARAT SRI LANKA SAPPHIRE AND diamonds, the necklace set with numerous brilliant-cut diamonds, diamonds weighing DIAMOND EARRINGS approximately 87.87 carats in total, mounted in platinum, necklace approximately 38 cm long Each set with an oval-shaped sapphires weighing 5.2 and 5.0 carats respectively, surrounded with circular, pear and marquise-cut diamonds, diamonds weighing 9.45 GRS, 2021, report no.GRS2021-088515, 33.63 carats, Sri Lanka, no indications of thermal carats in total, mounted in 18K gold, earrings approximately 1.8 cm long treatment SSEF, 2018, report no. 102417, approximately 5.2 and 5.0 carats, Ceylon (Sri Lanka), no indications of heating GRS, 2015, report no.GRS2015-011162, 17.92/16.99ct, Sri Lanka, no indications of thermal treatment 5.2及5.0克拉斯里蘭卡藍寶石配鑽石耳環，未經加熱 18K金鑲嵌橢圓形藍寶石分別重約5.2及5.0克拉，配鑲圓形、梨形及欖尖形切割鑽 AGL, 2017, report no. 1088231, 7.16 carats, Madagascar, no gemological evidence of heat 石，鑽石共重約9.45克拉，耳環長約1.8cm 附SSEF證書 Please note that the reports are over 5 years old and may require an update HKD 680,000-880,000 總重約108.41克拉藍寶石配鑽石項鏈，未經加熱 USD 87,200-112,800 鉑金鑲嵌共重約108.41克拉枕形及橢圓形藍寶石，中心一顆藍寶石重約33.63克拉， 項鏈配鑲多種切割鑽石，鑽石共重約87.87克拉，項鏈長約38cm 63 附GRS及AGL證書 HKD 6,500,000-7,500,000 USD 833,300-961,500

Muzo region, located in northern Colombia was first discovered by the Spaniards in 木佐礦區（Muzo）位于哥倫比亞北部，在1538年，西班牙人在此地找到了祖 the 16th Century. Hundreds of years later, Colombia is still the most important source 母綠的礦源。數百年後的今日哥倫比亞仍是高品質祖母綠的重要産地國，而其 for gem-quality emeralds, and the Muzo region produces better color and texture and 中木佐礦區出産的祖母綠因其顔色好，質地好，則被認爲是世界上出産最優質 thus is widely considered to be the place where the highest-quality emeralds are mined 祖母綠的地方。在這片蔥茏的熱帶雨林、高山和峽谷寶地中人們一直在探索它 in the world. People have always been exploring their tracks in this lush tropical 們的蹤迹。 rainforest, mountains and valleys trying to find these treasure given by the nature. 此次拍賣所呈現給各位藏家的4.64克拉祖母綠配鑽石戒指，其主石正是來自傳 This 4.64 carats emerald and diamond ring presented, whose main stone is from the 奇的木作礦。並附有木佐礦區開具的證書。證書記錄了其從原石被切割打磨成 legendary Muzo mine accompanied by a certificate of origin and traceability.The 最終成品的全部過程。此次，我們將這顆自然瑰寶，呈現至您的身邊。它綠色 certificate records the entire process of cutting and polishing from the rough stone to 深邃，色調深沈但不失活力，通體顔色分布均。近些年木佐礦産量驟然下降， the final product. The stone has a vibrant green color, a uniform distribution of colors 而市場對它的渴求與日俱增，因此，木佐礦區所出産的祖母綠價格一路攀升卻 throughout the body. In recent years, the production of Muzo mine has dropped 依然供不應求。 sharply, and the market’s thirst for these top quality emeralds is increasing day by day. Therefore, the price of emeralds produced in Muzo mining area has been rising all the way but is still in short supply. 64

2044 2044 MUZO MINE A 4.64 CARAT COLOMBIAN EMERALD AND DIAMOND RING Set with an square-shaped emerald, weighing 4.64 carats, within a circular-cut diamonds surround, decorated with round and pear-shaped diamonds weighing 4.59 carats in total, to a circular-cut diamonds gallery and half hoop, mounted in 18K gold, ring size 4¾ SSEF, 2020, report no.111600, 4.643 carats, Colombia, minor amount of oil in fissures at the time of testing Also accompanied by Muzo certificate of origin and traceability 木佐礦區 4.64克拉「木佐」哥倫比亞祖母綠配鑽石戒指 18K金鑲嵌4.64克拉方形祖母綠，圍鑲梨形及圓形鑽石，鑽石共重約5.01克拉，配 鑲圓形切割鑽石，戒指4 3/4號 附SSEF及MUZO證書 HKD 980,000-1,200,000 USD 125,600-153,800 65

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2045 2045 A 9.99 CARAT KASHMIR SAPPHIRE AND DIAMOND RING Set with an oval-shaped Kashmir sapphire weighing 9.99 carats, flanked by two half moon-shaped diamonds, weighing 1.41 carats in total, mounted in platinum, ring size 6 SSEF, 2016, report no.84448, 9.994 carats, Kashmir, no indications of heating Please note that the reports are over 5 years old and may require an update 9.99克拉克什米爾藍寶石配鑽石戒指，未經加熱 鉑金鑲嵌9.99克拉橢圓形克什米爾藍寶石，兩旁配鑲半月形切割鑽石，總重約1.41 克拉，戒指6號 附SSEF證書 HKD 4,500,000-5,800,000 USD 576,900-743,600 67

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MIKIMOTO 2046 2047 2046 2047 A 3.03 CARAT BRAZILIAN PARAIBA TOURMALINE AND DIAMOND AN 8.24 CARAT SRI LANKA PADPARADSCHA SAPPHIRE AMD RING, BY MIKIMOTO DIAMOND RING Set with an oval-shaped Brazilian Paraiba tourmaline weighing 3.03 carats, decorated Set with an oval-shaped padparadscha sapphire weighing 8.24 carats, within a with vari-shaped diamonds, weighing 2.64 carats in total, mounted in platinum, ring hexagon-shaped diamonds surround, diamonds weighing 7.52 carats in total, to a size 5, signed Mikimoto circular-cut diamonds gallery and half hoop, mounted in 18K gold, ring size 6 GIA, 2019, report no.6315548832, 3.03 carats, Brazil ’paraiba' SSEF, 2019, report no.105101, 8.245 carats, padparadscha, Ceylon (Sri Lanka), no indications of heating MIKIMOTO設計 3.03克拉巴西帕拉依巴碧璽配鑽石戒指 GRS, 2012, report no.GRS2012-041765L, 8.24 carats, natural padparadscha, no 鉑金鑲嵌3.03克拉橢圓形帕拉依巴碧璽，配鑲梨形，欖尖形及三角形鑽石，鑽石共 indications of thermal treatment 重2.64克拉，戒指5號，印有MIKIMOTO品牌印記 Please note that the reports are over 5 years old and may require an update 附GIA證書 8.24克拉斯里蘭卡帕帕拉恰藍寶石配鑽石戒指，未經加熱 HKD 980,000-1,500,000 18K金鑲嵌8.24克拉橢圓形斯里蘭卡帕帕拉恰藍寶石，配鑲六角形切割鑽石，鑽石 USD 125,600-192,300 共重7.52克拉，戒指6號 附SSEF及GRS證書 HKD 980,000-1,200,000 USD 125,600-153,800 69

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BURMESE RUBY PIGEON’S BLOOD ONE OF THE MOST FAVOURABLE ORIGINS FOR RUBIES Among all kinds of colored gemstones, ruby is the most expensive gem variety, among which Mogok (Myanmar) is one of the most favourable origins for rubies. For hundreds of years, rubies had held a supreme position in the East. The best proof of this is the Sanskrit nicknames for rubies: Ratnaraj and Ratnanayaka, meaning ‘king of gems‘ and ’chief of precious stones‘ respectively. Ruby‘s color is determined by the trace element ’Cr‘, and color is the most essential factor when it comes to market value for rubies. The most desirable rubies possess the purest vivid red or with a very slight purple tone, known as ‘pigeon blood red’. 在各種彩色寶石之中，紅寶石稱得上是最昂貴的寶石品種，其中緬甸抹谷便是 紅寶石最受追捧的產區之一，其中又以抹谷（Mogok）地區所產紅寶石最為上 乘。幾百年來，紅寶石在東方一直擁有至尊無上的地位，最好的證明是梵文中 記載的紅寶石別名：—個是「Ratnaraj」，另一個是「Ratnanayaka」，意 思分別為「寶石之王」和「珍貴寶石之首」。紅寶石是由於含有鉻元素（Cr） 而顏色呈紅色的剛玉，顔色是決定紅寶石價值的最關鍵因素。市場上最昂貴的 紅寶石擁有著最顔色鮮艷純正的紅色或帶有一絲極其略微偏紫的紅色，被稱爲 「鴿血紅」。 In the international gemstone industry, the authoritative appraisal agency SSEF (Swiss Jewelry Research Institute) and Gübelin (Gübelin Laboratory) have a strict unified grading standard based on color and quality for the use of ‘pigeon blood red’. To be classified as so, the rubies must be rich, saturated, and uniformly bright red, with no distinct secondary tones (such as blue or brown), and a very subtle purple tone is acceptable. Its three specific indicators: tone, saturation and lightness, must refer to the authoritative appraisal institution ‘standard colorimetric stone’ for grading assessment. Its body color should show strong fluorescence under UV irradiation. The fluorescence is caused by the higher chromium content and the lower iron content, which makes the ‘pigeon blood red’ gemstone seem to have energy flowing out from within. 在國際寶石業，權威鑒定機構 SSEF（瑞士珠寶研究院）和 Gübelin（古 柏林實驗室）就「鴿血紅」的使用有著基於顏色和質量的嚴格統一分級規 範。 被分級為「鴿血紅」的紅寶石必須具有濃郁、飽和以及均勻的正紅色， 沒有明顯的其它輔色調（如藍色或褐 色），極微小的紫色調可以被接受。 其 紅色的三個具體指標：色調、飽和度以 及明暗度，必須參照權威鑒定機構「標 準比色石」進行分級評定。 其體色在紫 外光的照射下應顯示強螢光。 該螢光由 較高的鉻含量及較低的鐵含量所致，使 「鴿血紅」寶石呈現「內部灼紅感」。 71

SSEF ‘PIGEON BLOOD’ RUBY AND DIAMOND RING, BY VIHARI Vihari Sheth Poddar is the fourth generation private jeweler in Singapore and the Vihari Sheth Poddar是新加坡第四代私人珠宝商，也是其同名品牌Vihari founder of its namesake brand Vihari jewels. Its exhibition halls are all over Hong Jewels的创始人。其展厅遍布香港、新加坡、纽约和曼谷，她的品牌将传承珠 Kong, Singapore, New York and Bangkok. Her brand will inherit jewelry to the 宝做到极致，将宝石本身的美展现的淋漓尽致，她最为大众所熟知的是她将经 extreme and show the beauty of gemstones incisively and vividly. What she is most 典的当代设计美学和极具投资价值的宝石材料完美结合。被冠以“彩色钻石女 familiar with is that she perfectly combines classic contemporary design aesthetics 王”的她，热衷于投资级彩色钻石和宝石，更有机会在本次拍卖中呈现给大家 with gem materials with great investment value. Known as the “Queen of colored 其最珍贵的作品。 diamonds”, she is keen on investment grade colored diamonds and gemstones, and has more opportunities to present her most precious works in this auction. 红宝石属于一种名叫刚玉的矿物，而来自缅甸的红宝石因含有铬，因此出现独 特的浓艳血红色，而且还拥有红色荧光，令宝石看起来像烧得熊熊的煤炭，能 Ruby belongs to a mineral called corundum, and the ruby from Myanmar contains 从里面散发不灭的火光。这枚5.28克拉的红宝石戒指，正是产自于红宝石优质 chromium, so it has a unique rich blood red, and also has red fluorescence, which 产地——缅甸，其颜色纯正浓郁，自然光线下便能呈现出缅甸红宝石独有的一 makes the gem look like burning coal and can emit immortal fire from it. This 5.28 抹红色，结合上述的特性，加上它令人联想到权力与保护力、生命与鲜血，以 carat ruby ring is produced in Myanmar, a high-quality Ruby producing area. Its 及烈火与热情，红宝石自古以来受到历史上最重要的藏家的青睐，不论是莫卧 color is pure and rich. It can show a unique touch of red of Myanmar Ruby under 儿帝皇，还是欧洲的贵族名流，都为它而倾心。 natural light. Combined with the above characteristics, it is reminiscent of power and protection, life and blood, fire and enthusiasm, Ruby has been favored by the most important collectors in history since ancient times. Both Mughal emperors and European nobles and celebrities are attracted to it. 72

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VIHARI 2048 2048 A 5.28 CARAT BURMESE ‘PIGEON BLOOD’ RUBY AND DIAMOND RING, BY VIHARI Set with a cushion-shaped ruby, weighing 5.28 carats, decorated with 4 oval-shaped diamonds, weighing 2.24 carats in total, surrounded with circular-cut rubies, weighing 0.76 carats in total, to a circular-cut diamonds gallery and half hoop, mounted in 18K gold, ring size 6¾. SSEF, 2018, report no.100346, 5.284 carats, Burma(Myanmar), ‘pigeon's blood red', no indications of heating GIA, 2019, 0.55-0.57 carats, F-G color, VVS2-VS2 clarity VIHARI設計 5.28克拉緬甸「鴿血紅」紅寶石配鑽石戒指，未經加熱 18K金鑲嵌5.28克拉枕形緬甸紅寶石，配鑲4顆橢圓形鑽石，總重2.24克拉，圍鑲 圓形切割紅寶石，總重約0.76克拉，配鑲圓形切割鑽石，戒指 6 3/4號 附SSEF及GIA證書 HKD 5,000,000-7,500,000 USD 641,000-961,500 75

丹 According to ancient Chinese legend, phoenix is the king of all birds. It is the embodiment of perfectionism, the auspicious bird 赤 in people's mind and the symbol of world peace. In fact, there were five kinds of phoenix, the color ‘red’ was called ‘Dan’, among 鳳 which only those of the purest red colour were called ‘Feng’. The name of this ruby necklace, composed of 60 oval-shaped rubies 翥 from Mogok, is ‘Dan Chi Feng Zhu’ (Red Phoenix); the rubies weighing 57.71 carats in total, with the largest ruby weighing 3.13 carats. The necklace possess a colour of extremely rich saturation and is classified as ‘pigeon’s blood’by Gübelin. Faidee’s design has perfectly integrated all the stones into the piece and brought a stunning flying phoenix to life. 鳳凰是中國古代傳說中的百鳥之王，在中國的象征文化中，鳳凰是完美主義的化 身也是人們心目中的瑞鳥，天下太平的象征。事實上，上古鳳凰分五種顔色， 紅色中火紅爲“丹”，赤者才能稱之爲鳳。這條項鏈級有動感，像飛舞的火鳳， 飛舞爲“翥”。這個套裝于是叫作 「丹赤鳳翥」。此條由60顆産自緬甸抹谷紅 寶石組成的項鏈，「丹赤鳳翥」，其中紅寶石總重達57.71克拉，最大顆的重達 3.13克拉。項鏈被瑞士著名的彩色寶石鑒定機構古柏林評爲鴿血紅級別，其紅色 調純正、鮮豔、均勻，自內部盈盈發光，猶如一只璨然熾熱的赤翥，正展翅飛 舞，目睹其光芒的人，無不怦然心動 。 76

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J.W. CURRENS FOR FAIDEE THE NEW YORK'S AWARD WINNING DESIGNER About J.W. Currens: From an early age James had a fascination with designing, sculpture and art. After earning his associate of Arts degree, he worked with New York cty’s top jewellery manufaturers and executed some of the world’s most important jewelry. In 1994, James ventured out on his own and won over 20 prestigious international design awards, his work can be seen in the stores of Cartier, Tiffany, VanCleef&Arpels and so on. In 2009, James collaborated with Fai Dee, the gem dealer family of ‘King of Rubies’, together they have created a series high-end Burmese ruby jewelry pieces. The name FAIDEE ha been evolved from a long tradition dating back to 1900s. Rising to prominence in the 1920s, their Great grandfather Mr. Roop Chand Lunia was one of the most dynamic gem dealers of his time and was called ‘King of Rubies. To FAIDEE, every cut is consider to be distinct for a given ruby. It is believed that every piece of ruby has its history and individuality of its own. Turning the rough stones into fine rubies is very strenuous and intense process, in FAIDEE’s factory, rubies are cut and polished to perfection in various sizes and shapes. Design sketch for the 'Red Phoenix' Details in GIA Monograph NUMBER OF STONES: 60 COLOR: VIVID RED, PIGEON’S BLOOD SHAPE: OVAL CUTTING STYLE: BRILLIANT CUT CROWN AND STEP CUT PAVILION ITEM DESCRIPTION: SIXTY STONES SET IN A YELLOW AND WHTE METAL NECKLACE STAMPED ‘’JWCURRENS’’ WITH NUMEROUS TRANSPARENT NEAR COLORLESS STONES WEIGHING 93.59 GRAMS (GROSS) 關于J.W. Currens： James從小熱愛設計，雕塑以及藝術，在完成學曆之後，他在紐約 的一家頂級珠寶工廠開始了他的早期職業生涯，參與設計並制作了一些聞名于世的作品。 1994年，James開始了自己的珠寶設計事業，獲得了20余項頂尖的全球性設計大獎，在卡 地亞，蒂芬妮，梵克雅寶等品牌中都可以見到他的珠寶。2009年，James與著名的珠寶商 世家Faidee合作，創作出了一系列頂級的緬甸紅寶石珠寶作品。 FAIDEE創立于1900年代，20年後，創立者Mr. Roop Chand Lunia成爲了當時最有名的 彩寶商之一，被稱爲“紅寶石之王”。對于FAIDEE，任何的一次切割對于紅寶石都有著非 同尋常的意義。每一件紅寶石有著屬于自己獨特的的曆史價值。將原石加工成爲紅寶石是 非常艱苦和費力的過程，在FAIDEE的工廠，紅寶石會被打磨加工成不同的形狀和大小。 J.W. Currens 78

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2049 2049 A TOTAL OF 57.71 CARATS BURMESE 'PIGEON'S BLOOD' RUBY AND DIAMOND 'RED PHOENIX' NECKLACE, BY J.W. CURRENS FOR FAIDEE Designed as a series of sixty graduated oval-shaped rubies, altogether weighing approximately 57.71 carats, rubies enhanced with clusters of pear and marquise-cut diamonds, diamonds weighing 35.89 carats in total, mounted in platinum and 18K gold, length approximately 40 cm, signed JW Currens Accompanied by reports no.13070059/1 to 60 from Gübelin dated 16 July, 2013 stating that the 60 oval shape rubies weighing a total of 57.71 carats, are of Burma (Myanmar) origin, 'pigeon's blood red' colour in the trade, with no indications of heating. Also accompanied by reports no. 7152606311 from GIA stating that the 60 oval shape rubies are of Burma(Myanmar) origin, the vivid red colour is described in the trade as 'pigeon's blood red', with no indications of heating. Accompanied by four report no.2146148939, 2136056677, 5126221900, 114273963 dated 10 July, 2011 and 11 January, 2013 from GIA stating that the diamonds weighing from 1.16 to 1.01 carats, are D-E color, VS clarity Also accompanied by GIA monograph and Faidee book Please note that the reports are over 5 years old and may require an update 丹赤鳳翥 J.W. CURRENS為輝帝設計 共重57.71克拉緬甸天然「鴿血紅」紅寶石配鑽石「火鳳凰」項 鏈，未經加熱 鉑金及18K金鑲嵌60顆總重約57.71克拉橢圓形紅寶石，配鑲欖尖形及梨形鑽石，鑽石共重約35.89克拉，項鏈長約 40cm，印有JW CURRENS設計簽名 附Gübelin，GIA證書，GIA Monograph書冊及Faidee書冊 HKD 12,000,000-22,000,000 USD 1,538,500-2,820,500 81

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2050 2050 With gem production in ore producing areas around the world, including the A PAIR OF 5.03 AND 5.02 CARAT BURMESE ‘PIGEON BLOOD’ RUBY declining of Myanmar, the presence of rubies larger than 5 carats should be a cause AND DIAMOND EAR PENDANTS for celebration for gem collectors. The pair of 5.03 and 5.02 carats Burmese rubies are both classified as ‘pigeon blood red’ by SSEF; the incredibly matching color and crystal Each set with a cushion-shaped Burmese ruby weighing 5.03 and 5.02 carats respectively, makes it a true treasure in the market. The two center stones are grandly decorated by highlighted with a vari-shaped diamonds surmount and bottom, diamonds weighing over 10 carats diamonds each, maximizing the extraordinary beauty of the rubies. 22.68 carats in total, mounted in platinum, ear pendants approximately 5.2 cm long 隨著全世界各地，包括緬甸的礦石產地寶石生產量的下降，任何大於5克拉的 SSEF, 2014, report no.72331, 5.032 and 5.023 carats, 'pigeon's blood red', no indications of 紅寶石的出現對於寶石收藏家來說都是值得慶賀的事。這一對5.03及5.02克拉 heating, Also accompanied by appendix letter stating that the pair of 5.03 and 5.02 carats 紅寶石耳環，兩顆均被SSEF評爲鴿血紅級別，顔色匹配，晶體相當，爲世所 rubies is exceptional 罕見的珍寶。兩顆主石分別由超過10克拉的鑽石簇擁配鑲，大氣優雅的同時， 最大限度的將紅寶石的非凡的正紅色襯托而出，收藏價值與佩戴功能兼備。 GRS, 2007, report no.GRS2007-051052, 5.03 carats, Burma( Myanmar), no indications of thermal treatment, GRS type 'pigeon's blood red' GRS, 2007, report no.GRS2013-090041, 5.02 carats, Burma( Myanmar), no indications of thermal treatment, GRS type 'pigeon's blood red' Please note that the reports are over 5 years old and may require an update 5.03及5.02克拉緬甸「鴿血紅」紅寶石配鑽石耳環，未經加熱 鉑金鑲嵌5.03及5.02克拉緬甸紅寶石，配鑲多種形狀切割鑽石共重22.68克拉，耳環 長約5.2cm 附GRS，SSEF證書及附加信 HKD 18,000,000-22,000,000 USD 2,308,000-2,820,500 85

2051 2052 2051 2052 A JADEITE AND DIAMOND 'PEACOCK' RING A JADEITE AND DIAMOND BRACELET Designed as a peacock, set with a green triangular-shaped jadeite, decorated with Set with seven oval-shaped green jadeite, decorated with various shaped diamonds diamonds weighing 1.26 carats in total, mounted in 18K gold, ring size 6 weighing 6.68 carats in total, mounted in 18K gold, largest jadeite cabochon Accompanied by HK Jade & Stone Lab certificate measuring approximately 8.63x7.71mm, bracelet measuring approximately 17.1cm Accompanied by HK Jade & Stone Lab certificate 緬甸天然翡翠配鑽石「孔雀」戒指 孔雀造型設計，18K金鑲嵌緬甸天然滿綠翡翠，配鑲總重1.26克拉鑽石，戒指6號 緬甸天然翡翠蛋面配鑽石手鏈 附香港玉石鑑定中心證書 18K金鑲嵌總共7顆緬甸天然翡翠蛋面，配鑲總重6.68克拉鑽石，最大一顆蛋面尺寸 約8.63x7.71mm，手鏈長約17.1cm HKD 38,000-68,000 附香港玉石鑑定中心證書 USD 4,900-8,700 HKD 180,000-220,000 86 紅色標題拍品無保留價 Lots with red titles are to be sold without reserve USD 23,100-28,200