Under the hammer: Fab Four auction sales (July 2025)
Resplendent Regent
Asensational 35.09-carat sapphire ring sparked a bidding war at a recent sale in Hong Kong. In a packed auction room bedazzled by the beauty of this magnificent jewel known as The Regent Kashmir, two mesmerised collectors went head to head, raising the asking price to well within the HK$65 million to $95 million estimate. The star lot eventually sold for a colossal HK$74.7 million (US$9.5 million), achieving a new per-carat record of US$271,515 for a sapphire at auction.
With this fall of the hammer, the antique cushion-shaped sapphire set in a platinum and diamond ring notched up the further accolades of most valuable gem auctioned in Asia this season, and most valuable sapphire sold anywhere in the world so far this year. It came with reports attesting to its ‘royal blue’ colour, origin, weight, clarity and absence of heat enhancement.
Many gemologists consider Kashmir sapphires to be the finest in the world. Their velvety blue hue, glowing intensity and a certain softness render them particularly appealing. This allure, combined with their rarity, accounts for the long-time desire by the well-heeled to have them on hand.
Circle of Time
The auction of a highly significant historical clock built by F.P. Journe for Breguet in 1991 had Geneva abuzz when it was claimed by the maker himself who sat on the front row. Adding to the drama was the sum he paid – an astonishing 5.5 million Swiss francs (HK$52.7 million), far above the anticipated price and representing a world record for a modern sympathique clock.
Crafted by Journe when he helmed visionary workshop Techniques Horlogères Appliquées, the Pendule Sympathique Clock No. 1 pays homage to Breguet’s watchmaking legacy. The beautiful instrument of time recaptures a forgotten complication. Standing at a height of 255mm and made from 18-carat yellow gold, the clock was paired with a Breguet gold tourbillon wristwatch as part of Phillips’ Geneva Watch Auction XXI.
The sale, which featured timepieces spanning more than 150 years from Switzerland, Germany, England and France, raised US$52 million in total. Its success reaffirms the enduring appeal of great watchmaking, according to Phillips’ spokesperson Tiffany To. Collectors who were outbid for the prized clock will be able to admire it at the upcoming F.P. Journe museum in Geneva.
Pumpkin Queen
Asuperb example of Yayoi Kusama’s signature pumpkin paintings caused a flurry of bids when it was auctioned in Hong Kong earlier this year. Pumpkin (HRU), an acrylic on canvas created by the iconic Japanese artist in 2014, had been given a pre-auction estimate of HK$25 million to $35 million, but enthusiastic bidding tipped the final asking price over this mark. It changed hands for a substantial HK$39.1 million (US$5 million).
The work, which is signed, titled, titled again in Japanese, and dated on the reverse side, was originally purchased by celebrated British art dealer Victoria Miro in London. Additionally, a 2016 small pumpkin sculpture in mirror-polished bronze was sold for HK$13.7 million during this evening sale of 20th- and 21st-century art.
This latest successful sale of works by Kusama attests to the enduring appeal of Japan’s grande dame of Pop Art, who is still active today at 96 years old. Pumpkins have featured prominently in her output over the decades, appearing in installations and many large-scale sculptures as well as paintings.
Staying on Script
The right to own a late Yuan Dynasty scroll set off an astonishing bidding battle at Sotheby’s Hong Kong. More than 200 bids were placed at the recent auction of Calligraphy in Cursive Script penned by the 14th-century poet and calligrapher Rao Jie, delaying hammer fall for a mammoth 95 minutes. Multiple telephone and in-room bidders pushed the final price of the ancient handscroll to HK$250 million (US$32 million), an incredible 20 times its presale estimate.
Undoubtedly the auction result represents a major fillip to the Chinese art market, which has flagged over the past five years. In this rare treasure which once belonged in the Qing imperial collection, Rao transcribed two literary classics, Han Yu’s Farewell to Meng Dongye and Liu Zongyuan’s The Tale of the Carpenter. It stretches almost 10 metres in length and has more than 100 seals.
According to Steven Zuo, Head of Fine Classical Chinese Paintings and Calligraphy at Sotheby’s Asia, works from the Yuan Dynasty are particularly prized for their rarity, and he also noted that this lot was the most valuable Chinese calligraphy ever sold at Sotheby’s.
