A pair of emerald earrings sold for over four million US dollars at auction in Hong Kong setting a new world record. And at another auction in Hong Kong, a tiny imperial Chinese "famille-rose" became the most expensive snuff bottle, selling for more than three million U.S. dollars.

HK autumn auction sets world record

This record-setting earrings weigh in at 25.39 carats and 23.12 carats and had been much-anticipated buy enthusiastic bidders.

Vickie Sek, director of Christie's, Asia, said, "Once again it proved that even though the economic crisis or the market is not that stable, all the collectors, investors, they still go for the best gem quality stones. This time we have set a record a pair of emerald earrings. It's 25-carat each. It's the biggest and the highest price ever appearing auctions."

Also a pair of perfect round diamonds achieved 16.4 million, the highest ever price for colorless diamonds in Asia.

Fine colored stones and natural pearls also fetched extremely strong prices, helping Christie's make 172 million US dollars, the highest ever annual result for any auction house in Hong Kong.

Vickie Sek said, "I think all the collectors, they're all so sophisticated. Even in our New York sale, our Geneva sale, our Hong Kong sale. All the natural pearl fetch a really good price. And they all know this gem will be getting more rare and rare and you can't find it so their rarity really is one of the main factors why the prices did so well."

At another auction in Hong Kong, a tiny imperial Chinese "famille-rose", traditionally used to contain tobacco powder, became the most expensive snuff bottle, selling for more than 3 million U.S. dollars. The tiny snuff bottle, made in the Imperial Palace workshops in Beijing during the Emperor Qianlong period some 200 years ago, measures just over 8 centimeters.

At a time of serious economic instability around the world, the auction market is often vulnerable to wider financial pressures. But the auctions in Hong Kong sent a strong message that the market for top-quality objects remains stable.

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