50 Ct. Colombian Emerald Necklace Leads Bonhams’ Upcoming Hong Kong Sale

By Annie Davidson Watson | May 11, 2026

Bonhams is bringing an ambitious lineup to Hong Kong on May 24, with more than 140 lots in its Exceptional Jewels and Jadeite sale that leans hard into colored stones.

A circa-1950 necklace with 50 cts. Colombian emeralds (pictured at top) anchors the sale both visually and financially. Its seven step-cut emeralds supply the color, while 30+ cts. of variously cut diamonds do the supporting work. The necklace carries an estimate of HK$4.8 million to $5.5 million (approximately $610,000 to $700,000 in U.S. dollars).

Colombian emeralds get additional play with a pair of unmounted step-cut stones weighing 31.2 and 30.12 cts., estimated at HK$1.1 million to $2.2 million (around $140,000 to $280,000), as well as a 5.84 ct. ring also boasting 8.35 cts. heart-shape and round brilliant-cut diamonds (HK$1.2 million to $1.5 million). The ring’s Colombian emerald holds no-oil status—a meaningful distinction in the emerald market, where treatment is so routine that untreated stones occupy their own tier.

bonhams spinel ring — *Ring with 16.5 ct. Tanzanian spinel and 1.1 cts. t.w. diamonds*

Another colored gem highlight is a 16.5 ct. Tanzanian spinel ring, estimated at HK$1.8 million to $2.4 million (US$230,000 to $310,000). Spinel has seen a serious reappraisal over the past decade, and a stone of this size in true red, set between tapered baguette-cut diamonds, is especially covetable.

bonhams sapphire ring — *Kashmir sapphire and diamond ring*

Kashmir sapphire, perennially one of the most sought-after stones at any auction, appears twice among Bonhams’ offerings, with each lot carrying a high estimate of HK$2 million. A 5.31 ct. cushion-shape Kashmir sapphire is set in a ring framed by 3.45 cts. pear-shape and marquise diamonds. There’s also an 8.72 ct. sugarloaf Kashmir sapphire. The sugarloaf cut is relatively uncommon in fine sapphires and tends to show the velvety Kashmir color particularly well, Bonhams said.

bonhams emeralds — *Pair of unmounted step-cut Colombian emeralds*

The auction also features colored diamonds, including an unmounted 4.1 ct. fancy vivid yellow step-cut (HK$900,000 to $1.6 million) and a ring centered on a 1.01 ct. fancy intense pink kite-shape diamond (HK$700,000 to $1.1 million).

Signed pieces on the Bonhams block include a Fabre emerald choker and a pair of circa-1970 Mauboussin earclips with 11.83 and 9.87 ct. oval cabochon emeralds surrounded by diamonds, sapphires, and rubies.

bonhams yellow diamond — *Unmounted 4.1 ct. fancy vivid yellow diamond*

“The sale offers collectors an opportunity to acquire truly unique and distinguished jewels,” said Katy Lai, Bonhams’ head of sale and jewelry specialist, in a statement.

(Photo courtesy Bonhams)

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