Ravenel Autumn Auction 2012 Hong Kong: Fine Jewels and Jadeite

AUTUMN AUCTION 2012 HONG KONG

Fine Jewels and Jadeite

RAVENEL AUTUMN AUCTION 2012 HONG KONG Fine Jewels and Jadeite

羅芙奧香港 2012 秋季拍賣會 珍藏珠寶及翡翠首飾

AUCTION

拍賣日期 / 地點

2012年11月25日（日） 下午 2:30 香港君悅酒店（宴會大禮堂） 灣仔港灣道一號

PREVIEWS

預展日期 / 地點

台中 2012年11月10日（六） 下午2:00至下午7:00 2012年11月11日（日） 上午11:00至下午7:00 寶輝建設接待中心 台中市市政北二路與惠來路交叉口

Sunday, 25 Nov 2012, 2:30pm Grand Hyatt Hong Kong - Grand Ballroom 1 Harbour Road, Wanchai, Hong Kong

Taichung

Saturday, 10 Nov 2012, 2:00pm - 7:00pm Sunday, 11 Nov 2012, 11:00am - 7:00pm Pao-huei Construction Reception Center Intersection of Shizheng North 2nd Road and Huilai Road, Taichung, Taiwan

Taipei

台北 2012年11月17日（六）上午10:00至下午7:00 2012年11月18日（日）上午10:00至下午7:00 富邦人壽大樓國際會議中心 台北市敦化南路一段108號B2

Hong Kong

香港 2012年11月23日（五） 下午2:00至下午9:00 2012年11月24日（六） 上午10:00至下午7:00 香港君悅酒店（宴會大禮堂） 灣仔港灣道一號

Saturday, 17 Nov 2012, 10:00am - 7:00pm Sunday, 18 Nov 2012, 10:00am - 7:00pm Fubon National Conference Centre B2, No.108, Sec. 1, Dunhua South Road, Taipei, Taiwan

Friday, 23 Nov 2012, 2:00pm - 9:00pm Saturday, 24 Nov 2012, 10:00am - 7:00pm Grand Hyatt Hong Kong – Grand Ballroom 1 Harbour Road, Wanchai, Hong Kong

As requested by the Buyer, we are delighted to offer the condition reports of all the auction items, provided, however, such items will be sold “as is”. In addition, the Buyer is requested to take note of the transaction agreement and the explanations of the provisions regarding the notice of no-guarantee. This auction catalogue: HK$ 300 per copy

Arthur Wang 王鎮華

Chairman 董事長

Clara Kuo 郭倩如

Vice Chairman 副董事長

Lorries Chang 張增偉

C.E.O. 執行長

陳正銘 Benjamin Chen

張雁茹 Virginia Chang

珠寶部總經理 President, Jewellery Department

客戶發展與服務部總經理 President, Client Development and Services Department

黃鈺珊 Shanne Ng

梁智琹 Annie Leung

林品妘 Dannie Lin

珠寶專家 Specialist, Jewellery Department

營業經理 Business Manager, Jewellery Department

客戶發展與服務部副理 Assistant Manager Client Development and Services Department

符穎錚 Lya Fu

曾欣怡 Emmy Tsang

黃詩涵 Stella Huang

公關與市場部總監 Director, Press and Marketing Department

營運部經理 Manager, Operation Department

中國區總監 Director, China

RAVENEL STAFF AND SERVICES FOR THIS SALE JEWELLERY CONSULTANTS Jewellery Department President Benjamin Chen Tel: +852 2889 0859 Email: benjaminchen@ravenel.com

Jewellery Specialist, HK Shanne Ng Tel: +852 2889 0859 Email: shanneng@ravenel.com

Jewellery Business Manager Annie Leung Tel: +852 2889 0859 Email: annieleung@ravenel.com

Client Service Assistant Manager Dannie Lin Tel: +886 2 2708 9868 ext. 976 Email: dannielin@ravenel.com

Jewellery Administrator, Taipei Vicky Liao Tel: +886 2 2708 9868 ext. 386 Email: vickyliao@ravenel.com

PHONE BIDS AND WRITTEN BIDS Taiwan Dannie Lin Tel: +886 2 2708 9868 ext. 976 Email: dannielin@ravenel.com

Hong Kong Shanne Ng Tel: +852 2889 0859 Email: shanneng@ravenel.com

Beijing Helen Zhang Tel: +86 10 8587 8099 Email: helenzhang@ravenel.com

Shanghai Echo Yang Tel: +86 21 2411 9575 Email: echoyang@ravenel.com

International Annie Leung Tel: +852 2889 0859 Email: annieleung@ravenel.com

Online BidS Register at LiveAuctioneers www.liveauctioneers.com/sign-up

COLLECTION AND SHIPPING Remarks: If you are unable to attend the auction in person, you may tender the bid by phone or you may use the absentee bid forms attached at the back of the auction catalogue to tender your bid. Its also possible to bid online for selected lots. Please refer to ravenel.com for more information.

Taiwan Vicky Liao Tel: +886 2 2708 9868 ext. 386 Email: vickyliao@ravenel.com

Hong Kong Annie Leung Tel: +852 2889 0859 Email: annieleung@ravenel.com

In view of the limited phone line services at the auction, please inform us 24 hours prior to the auction for arrangements.

Particularly for those of you who need foreign language assistance of the bidding.

Jason Dong Tel: +86 10 8587 8099 Email: jasondong@ravenel.com

CATALOGUE SUBSCRIPTION

Annie Leung Tel: +852 2889 0859 Email: annieleung@ravenel.com

Taiwan Vicky Liao Tel: +886 2 2708 9868 ext. 386 Email: vickyliao@ravenel.com

Hong Kong Annie Leung Tel: +852 2889 0859 Email: annieleung@ravenel.com

China Helen Zhang Tel: +86 10 8587 8099 Email: helenzhang@ravenel.com

International Annie Leung Tel: +852 2889 0859 Email: annieleung@ravenel.com The catalogues are available for subscription. For details of subscription, please refer to the explanations of the catalogue or contact the above persons.

PAYMENT Rachel Chuang Tel: +886 2 2708 9868 ext. 682 Email: rachelchuang@ravenel.com Payment details are described at the back of the catalogue. Please contact the above person if you need any further information.

China

International

Remarks: All the items auctioned may be collected upon receipt of payments. The Buyers are requested to arrange for collection as soon as possible to facilitate warehouse inventory circulation and centralize management. We accept personal and corporate checks, however collection may be made only when such checks are honored. We apologize for no acceptance of traveler’s checks. Other items may be collected at the Ravenel Ltd. The business hours are 9:30 am to 6:30 pm, Monday to Friday.

Our professional administration department may make recommendations of arrangement or the most appropriate transportation for you.

Ravenel is glad to provide you with the condition report of any of the items at the auction, however, the buyers must note that all the items at the auction are sold “as is”. Please refer to the Transaction Agreement at the back of the catalogue. Please refer to the “Transaction Agreement to the Buyers”.

羅芙奧香港 2012 秋季拍賣會服務部門及連絡人 珠寶諮詢專家 珠寶部總經理 陳正銘 電話：+852 2889 0859 電子信箱：benjaminchen@ravenel.com

珠寶部專家 黃鈺珊 電話：+852 2889 0859 電子信箱：shanneng@ravenel.com

珠寶部營業經理 梁智琹 電話：+852 2889 0859 電子信箱：annieleung@ravenel.com

客戶發展與服務部副理 林品妘 電話：+886 2 2708 9868 轉 976 電子信箱：dannielin@ravenel.com

珠寶部台北業務助理 廖家敏 電話：+886 2 2708 9868 轉 386 電子信箱：vickyliao@ravenel.com

電話書面競標聯絡人 台灣 林品妘 電話：+886 2 2708 9868 轉 976 電子信箱：dannielin@ravenel.com

註一：如您無法親臨拍賣現場，可以電話投 標方式競標；亦可利用附在此目錄後面之委 託競投表格；或可參與網上競投，詳情請洽 羅芙奧官方網頁。 註二：鑑於拍賣現場電話有限，欲以電話投 標方式競標的投標者，請於拍賣前24小時 通知我們為您安排，尤其對需用外國語言服 務之投標者。

目錄訂閱 台灣 廖家敏 電話：+886 2 2708 9868 轉 386 電子信箱：vickyliao@ravenel.com

香港 梁智琹 電話：+852 2889 0859 電子信箱：annieleung@ravenel.com

中國 張鶴軒 電話：+86 10 8587 8099 電子信箱：helenzhang@ravenel.com

其它地區 梁智琹 電話：+852 2889 0859 電子信箱：annieleung@ravenel.com

香港

本目錄開放各界訂閱，詳細訂閱辦法，請參 照目錄之說明或請洽上述聯絡人。

黃鈺珊 電話：+852 2889 0859 電子信箱：shanneng@ravenel.com

付款事宜

北京 張鶴軒 電話：+86 10 8587 8099 電子信箱：helenzhang@ravenel.com

上海 楊琴 電話：+86 21 2411 9575 電子信箱：echoyang@ravenel.com

其它地區 梁智琹 電話：+852 2889 0859 電子信箱：annieleung@ravenel.com

網上競投 請前往 LiveAuctioneers 註冊 www.liveauctioneers.com/sign-up

莊雯凱 電話：+886 2 2708 9868 轉 682 電子信箱：rachelchuang@ravenel.com 有關付款詳細事宜，說明於本目錄後，如您 需要更進一步的諮詢，請洽上述聯絡人。

取貨及運輸事宜 台灣 廖家敏 電話：+886 2 2708 0859 轉 386 電子信箱：vickyliao@ravenel.com

香港 梁智琹 電話：+852 2889 0859 電子信箱：annieleung@ravenel.com

中國 董戈 電話：+86 10 8587 8099 電子信箱：jasondong@ravenel.com

其它地區 梁智琹 電話：+852 2889 0859 電子信箱：annieleung@ravenel.com 註一：所有拍品在貨款結清後，即可取貨； 買家請儘早通知安排取貨事宜，以利倉庫存 貨流通和集中安排辦理，本公司接受個人及 公司支票付款，惟需在兌現後始能提貨。恕 不接受旅行支票付款。其他各項貨品可在羅 芙奧辦公室提領，上班時間為週一至週五上 午9:30至下午6:30。 註二：我們的專業行政部門可為您建議或安 排最適當的運輸方式。 羅芙奧樂意提供您本次拍賣當中任何一項拍 品的狀況報告書，惟準買家需注意拍品均是 以「當時認定」之狀況賣出，相關細項請參 照目錄後之業務規則。請參照買家需注意事 項。

目次 / Contents 2

羅芙奧秋季拍賣會

Sale Information 3

羅芙奧之服務

Ravenel Services 8

珍藏珠寶及翡翠首飾

Fine Jewels and Jadeite 110

鑽石之4C分級

Diamonds The 4 C’s 111

戒指尺寸換算表

Conversion Charts 112

索引與簡歷

Index and Biographies 114

業務規則

Transaction Agreement 119

委託競投表格

Absentee Bid Form

封面 Front Cover : Lot 224 封底 Back Cover : Lot 205

101

102

101

TWO GEM-SET AND DIAMOND BROOCHES 粉紅藍寶石，石榴石與鑽石胸針；和南洋養殖金色珍珠配粉紅藍寶石及鑽石胸針

The first, designed as a pavé-set pink sapphire flowerhead with diamond collet pistils, to the brilliant-cut diamond stem and circular-cut tsavorite garnet leaves, mounted in white, pink and black gold; and the other, designed as a floral spray, set with a golden South Sea cultured pearl to the circular-cut pink sapphire florets, enhanced by brilliant-cut diamonds and milky diamonds, mounted in 18k white gold, 8.0 and 6.0 cm long

HK$ 20,000 - 40,000

102

US$ 02,500 - 005,000 NT$ 76,000 - 152,000

A STAR RUBY AND DIAMOND RING 5.40克拉緬甸天然星彩紅寶石配鑽石及黃鑽戒指

The stylised flowerhead centering upon a star ruby weighing approximately 5.40 carats, enhanced by yellow diamond stamens, to the openwork diamond-set petals and undulating shoulders, mounted in yellow and white gold, ring size 5 1/4

Accompanied by report no. GRS2006-082659 dated 30 August 2006 from the Gem Research Swiss Lab stating that the 5.40 carat ruby is of Burmese origin, with no indication of thermal treatment.

HK$ 90,000 - 110,000

Ravenel 8

US$ 011,500 - 014,000 NT$ 342,000 - 418,000 All lots highlighted with red title are to be sold "without reserve"

Fine Jewels and Jadeite Hong Kong 25 November 2012

103

103

A SAPPHIRE, CULTURED PEARL AND DIAMOND RING

104

11.74克拉蛋面藍寶石配養殖珍珠及鑽石戒指

Set with an arched cabochon sapphire weighing approximately 11.74 carats, surrounded by diamond-set border and cultured pearl fringe, to the brilliant-cut diamond shoulders, mounted in white gold, ring size 5 3/4

HK$ 70,000 - 90,000

104

US$ 009,000 - 011,500 NT$ 266,000 - 342,000

A TOURMALINE AND DIAMOND PENDANT NECKLACE 彩色碧璽配鑽石吊墜項鍊

The pendant, designed as a cascade of vari-shaped multi-coloured cabochon tourmalines, spaced by brilliant-cut diamond links, to the detachable diamond-set hoop surmount and similarly-set neckchain, mounted in 14k pink gold, necklace 41.0/46.0 cm long, pendant 12.5 cm long

HK$ 90,000 - 130,000

US$ 011,500 - 016,500 NT$ 342,000 - 494,000 All lots highlighted with red title are to be sold "without reserve"

105

106

105

A SET OF TOPAZ AND DIAMOND JEWELLERY 拓帕石配鑽石胸針及耳墜套裝

Comprising a brooch, designed as the brilliant-cut diamond scrolls suspending six topaz briolettes; and a pair of ear pendants, each designed as a line of graduated diamond-set bluebell flowers to a topaz briolette terminal, suspended from a brilliant-cut diamond hook; mounted in white gold (brooch can be worn as a pendant), brooch 8.5 cm long, ear pendants 4.8 cm long

HK$ 75,000 - 110,000

106

US$ 009,600 - 014,000 NT$ 285,000 - 418,000

A SUITE OF SOUTH SEA CULTURED PEARL AND DIAMOND JEWELLERY 南洋養殖黑色珍珠配鑽石項鍊及戒指套裝

Composed of a pendant necklace, designed as a brilliant-cut diamond scrolled trefoil cross, centering upon a black cultured pearl measuring approximately 17.1 x 16.6 mm, to an 18k white gold chain; and a ring, set with a black cultured pearl measuring approximately 17.6 x 17.2 mm, to a brilliant-cut diamond twin hoop surround; mounted in 18k white gold, necklace 45.8 cm long, ring size 7

HK$ 40,000 - 70,000

Ravenel 10

US$ 005,100 - 009,000 NT$ 152,000 - 266,000 The lot highlighted with red title is to be sold "without reserve"

Fine Jewels and Jadeite Hong Kong 25 November 2012

107

108

107

A BLACK OPAL AND DIAMOND BROOCH 蛋白石配鑽石蠍子胸針

Designed as a scorpion set with black opal and brilliant-cut diamonds, mounted in 18k black gold, 7.0 cm long

HK$ 50,000 - 70,000

108

US$ 006,400 - 009,000 NT$ 190,000 - 266,000

A SOUTH SEA CULTURED PEARL AND DIAMOND PENDANT NECKLACE 南洋養殖灰色珍珠與鑽石吊墜項鍊

The pendant, set with a drop-shaped grey cultured pearl measuring approximately 17.5 x 14.5 mm, enhanced by brilliant-cut diamond cap and surmount, suspended from a detachable pear-shaped diamond flowerhead to the vari-cut diamond neckchain, mounted in 18k white gold, necklace 42.0 cm long

HK$ 60,000 - 80,000

US$ 007,700 - 010,000 NT$ 228,000 - 304,000 The lot highlighted with red title is to be sold "without reserve"

109

111

110

109

A COLOURLESS JADEITE AND DIAMOND BROOCH 緬甸天然冰種翡翠配鑽石蜻蜓胸針

Designed as a dragonfly, the wing set with four carved colourless jadeite plaques of icy material, enhanced by diamond-set borders, with rose-cut diamond head and thorax to the brilliant-cut diamond abdomen, mounted in 18k pink gold, largest plaque approximately 46.1 x 12.3 x 1.7 mm, 10.0 cm wide

Accompanied by report no. SJ57249 dated 15 October 2012 from the Hong Kong Jade & Stone Laboratory stating that the wing tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 50,000 - 80,000

110

US$ 006,400 - 010,000 NT$ 190,000 - 304,000

AN AQUAMARINE, DIAMOND AND RUBY RING 25.43克拉長方形海藍寶配鑽石及紅寶石戒指

Set with a rectangular-cut aquamarine weighing approximately 25.43 carats, to the brilliant-cut diamond openwork floral gallery and shoulders with cabochon ruby details, mounted in 18k white gold, ring size 6 1/2

HK$ 50,000 - 80,000

111

US$ 006,400 - 010,000 NT$ 190,000 - 304,000

A KUNZITE, DIAMOND AND RUBY RING 14.30克拉橢圓形紫鋰輝石配鑽石及紅寶石戒指

The oval-shaped kunzite weighing approximately 14.30 carats, set between two diamond and yellow diamond borders, to the diamond and yellow diamond shoulders with ruby details, mounted in 18k yellow and white gold, ring size 5 3/4

HK$50,000 - 80,000

Ravenel 12

US$ 006,400 - 010,000 NT$ 190,000 - 304,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

112

113

112

A SUITE OF DIAMOND JEWELLERY 鑽石項鍊及耳墜套裝

Comprising a pendant necklace, designed as a brilliant-cut diamond chandelier suspending rose-cut diamond terminals, to the rose-cut diamond surmount and oval-link neckchain enhanced by diamond collet spacers; and a pair of ear pendants en suite; mounted in 18k white gold, necklace 41.5 cm long, ear pendants 6.7 cm long

HK$90,000 - 110,000

113

US$ 011,500 - 014,000 NT$ 342,000 - 418,000

A RUBY AND DIAMOND RING 紅寶石與鑽石戒指

Designed as a twin row calibré-cut ruby to the baguette and brilliant-cut diamond borders, mounted in 14k white gold, ring size 6 1/2

HK$ 100,000 - 120,000

US$ 012,800 - 015,500 NT$ 380,000 - 456,000

114

115

114

A PAIR OF DIAMOND EAR PENDANTS 鑽石耳墜

Each designed as a brilliant-cut diamond bluebell flower with rose-cut diamond floret details, suspending three rose-cut and collet-set diamond swags, to the similarly-set top, mounted in 18k white gold, 10.7 cm long

HK$ 75,000 - 90,000

115

US$ 009,600 - 011,500 NT$ 285,000 - 342,000

A SET OF MORGANITE, PERIDOT AND DIAMOND JEWELLERY 粉紅綠柱石與貴橄欖石配鑽石耳墜及戒指套裝

Comprising a pair of ear pendants, each set with a pear-shaped morganite suspended from a diamond-set line surmount, to a cushion-shaped peridot top enhanced by diamond-set frame; and a ring en suite; mounted in 18k white gold, ear pendants 5.9 cm long, ring size 5 1/2

HK$ 60,000 - 80,000

Ravenel 14

US$ 007,700 - 010,000 NT$ 228,000 - 304,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

117

116

116

A DIAMOND RING 彩鑽配鑽石戒指

Designed as a vari-cut multi-coloured diamond cluster to the brilliant-cut diamond shoulders, mounted in platinum, ring size 4 3/4

HK$ 100,000 - 150,000

117

US$ 012,800 - 019,000 NT$ 380,000 - 570,000

A DIAMOND RING 彩鑽配鑽石戒指

Designed as a pavé-set diamond oval bombé panel inlaid with vari-cut multi-coloured diamonds, to the yellow diamond border and pavé-set diamond shoulders, mounted in 18k white gold, ring size 6

HK$ 65,000 - 85,000

US$ 008,300 - 011,000 NT$ 247,000 - 323,000

118

119

118

A PAIR OF SOUTH SEA CULTURED PEARL AND DIAMOND EAR PENDANTS 南洋養殖珍珠配粉紅鑽石耳墜

Each set with a cultured pearl measuring approximately 16.6 and 16.8 mm, to the light pink diamond surmount and hook, mounted in 18k pink gold, 3.5 cm long

HK$ 48,000 - 60,000

US$ 006,100 - 007,700 NT$ 182,000 - 228,000

AN 18K WHITE GOLD "JULES AUDEMARS" WRISTWATCH, BY AUDEMARS PIGUET

119

18K白金鏤空腕錶，AUDEMARS PIGUET

Mechanical lever movement, the skeletonised dial with applied baton and Roman numerals, to the black leather strap with Audemars Piguet buckle, mounted in 18k white gold, with Swiss assay marks for gold, case diameter 35.0 mm wide, with original box and warranty

Dial, case and movement signed Audemars Piguet; Case no. 35911; Movement no. 691333

HK$ 80,000 - 120,000

Ravenel 16

US$ 010,200 - 015,000 NT$ 304,000 - 456,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

120

121

120

A PAIR OF RUBY AND DIAMOND EAR PENDANTS, BY MICHAEL YOUSSOUFIAN 天然紅寶石與鑽石耳墜，附GRS證書，MICHAEL YOUSSOUFIAN

Designed as a cascade of oval-shaped rubies and rose-cut diamond, each within a ruby-set surround to the diamond and ruby spacers, suspended from the diamond-set scrolled top enhanced by oval-shaped rubies and rose-cut diamonds, mounted in 18k pink and white gold, 7.5 cm long

With jeweller's mark for Michael Youssoufian Accompanied by report no. GRS2011-071218 (duplicated with modifications) dated 20 August 2012 from the Gem Research Swiss Lab stating that sixteen oval-shaped rubies tested shows no indication of thermal treatment. Also accompanied by an appendix stating that thirteen rubies are of Mozambican origin, two of Tanzanian origin and one with unknown origin

HK$ 350,000 - 450,000

121

US$ 0,045,000 - 0,058,000 NT$ 1,330,000 - 1,710,000

A RUBELLITE AND DIAMOND RING, BY MICHAEL YOUSSOUFIAN 40.42克拉橢圓形紅碧璽配鑽石戒指，MICHAEL YOUSSOUFIAN

The oval-shaped rubellite weighing approximately 40.42 carats, to the brilliant-cut diamond scrolls and foliates gallery, mounted in 18k white gold, ring size 6 1/4

With jeweller's mark for Michael Youssoufian

HK$ 280,000 - 350,000

US$ 0,036,000 - 0,045,000 NT$ 1,064,000 - 1,330,000

123 122

122

A GOLDEN SOUTH SEA CULTURED PEARL AND DIAMOND NECKLACE, BY DILYS' COLLECTION 南洋養殖金色珍珠配鑽石及黃鑽項鍊，DILYS' COLLECTION

The front, designed as two rows of golden cultured pearls interspersed with diamond-set rondelles, joined by diamond and yellow diamond oriental motif links, to the similarly-set single row golden cultured pearl backchain, mounted in 18k yellow and white gold (necklace can be detached and worn as two bracelets or a sautoir), necklace 49.5 cm long, bracelets 19.0 and 24.5 cm long

With jeweller's mark for Dilys' Collection, no. 62699

HK$ 170,000 - 210,000

123

US$ 022,000 - 027,000 NT$ 646,000 - 798,000

AN OPAL, GREEN GARNET, SAPPHIRE AND DIAMOND RING, BY MICHAEL YOUSSOUFIAN 19.77克拉蛋白石配石榴石，藍寶石及鑽石戒指，MICHAEL YOUSSOUFIAN

The oval-shaped opal weighing approximately 19.77 carats, within the pear-shaped green garnet and circular-cut sapphire cluster surround, to the brilliant-cut diamond bifurcated shoulders, mounted in 18k gold, ring size 7 1/4

With jeweller's mark for Michael Youssoufian

HK$ 90,000 - 120,000

Ravenel 18

US$ 011,500 - 015,000 NT$ 342,000 - 456,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

124

124

A SUITE OF GEM-SET JEWELLERY 貴橄欖石配綠松石項鍊及手鍊套裝；和金綠寶石配鑽石戒指

Comprising a necklace and two bracelets, each designed as multi-strands of peridot briolettes interspersed with turquoise beads and decorative gold charms; and a ring, set with an oval-shaped chrysoberyl to the diamond-set gallery and hoop, mounted in 18k white gold (two bracelets and a ring not illustrated), necklace 46.0 cm long, bracelets 18.5 and 19.0 cm long, ring size 5

HK$ 50,000 - 80,000

US$ 6,400 - 10,000 NT$ 190,000 - 304,000

126

125

125

A SUITE OF EMERALD AND DIAMOND JEWELLERY 18.97及16.45克拉蛋面祖母綠配鑽石項鍊及戒指套裝

Comprising a pendant necklace, set with a cabochon emerald weighing approximately 18.97 carats, to the brilliant-cut diamond surround and link neckchain; and a ring en suite, set with a cabochon emerald weighing approximately 16.45 carats; mounted in platinum, necklace 43.0 cm long, ring size 8 1/4

HK$ 400,000 - 500,000

126

US$ 0,051,000 - 0,064,000 NT$ 1,520,000 - 1,900,000

A SET OF CULTURED PEARL AND DIAMOND JEWELLERY, BY CARTIER 養殖珍珠配鑽石戒指及耳環套裝，CARTIER

Comprising a ring, designed as a cultured pearl bombé half-hoop with diamond borders; and a pair of ear clips en suite; mounted in 18k gold, 1991, ring size 6, ear clips 2.5 cm long

The ring signed Cartier, no. D51655; the ear clips signed Cartier, no. C96162

HK$ 50,000 - 80,000

Ravenel 20

US$ 006,400 - 010,000 NT$ 190,000 - 304,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

127

127

A BAROQUE SOUTH SEA CULTURED PEARL AND DIAMOND NECKLACE 南洋養殖珍珠配鑽石項鍊

The front designed as two rows of baroque cultured pearls and pavé-set diamond freeform panels, to the similarly-set single row backchain, mounted in 18k gold, 45.0 cm long

HK$ 100,000 - 120,000

US$ 012,800 - 015,000 NT$ 380,000 - 456,000

129

128

128

A BLACK SOUTH SEA CULTURED PEARL AND DIAMOND "BETWEEN THE FINGER" RING 南洋養殖黑色珍珠與彩鑽“幸福指間”戒指

Designed as a pavé-set multi-coloured diamond flowerhead, centering upon a black cultured pearl measuring approximately 16.1 mm, to the 18k white gold twin band (to be worn as two adjacent rings) , ring sizes 6 1/2 and 7 1/2

HK$ 80,000 - 130,000

129

US$ 10,300 - 16,500 NT$ 304,000 - 494,000

A PAIR OF EMERALD AND DIAMOND EAR PENDANTS, BY Michael Youssoufian 祖母綠配鑽石耳墜，MICHAEL YOUSSOUFIAN

Each designed as an openwork drop-shaped boule with pavé-set emerald flowerhead motifs, to a similarly-set flowerhead top spaced by a pavé-set diamond demi-boule, mounted in white gold, 6.8 cm long

With jeweller's mark for Michael Youssoufian

HK$ 65,000 - 80,000

Ravenel 22

US$ 8,300 - 10,000 NT$ 247,000 - 304,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

130

130

AN AMETHYST AND DIAMOND NECKLACE 紫水晶配鑽石項鍊

The front, designed as three swags of oval-shaped amethysts with diamond-set borders and spacers, gathered by rose-cut diamond threestone links to the similarly-set single row backchain, mounted in platinum, 43.5 cm long

HK$ 280,000 - 350,000

US$ 36,000 45,000 NT$ 1,064,000 - 1,330,000

131

(part)

131

A SUITE OF RUBELLITE, TANZANITE, YELLOW BERYL AND DIAMOND JEWELLERY 紅碧璽，黃色綠柱石與丹泉石配鑽石項鍊，耳墜及戒指套裝

Comprising a necklace, designed as a graduated row of heart-shaped rubellites to the pavé-set diamond intertwined scrolls, suspending a fringe of heart-shaped yellow beryls and tanzanites; a pair of ear pendants and ring en suite, mounted in 18k yellow and white gold, necklace 43.5 cm long, ear pendants 3.4 cm long, ring size 6

Total weight of the rubellites is approximately 43.59 carats; total weight of the tanzanites is approximately 28.78 carats; and total weight of the yellow beryls is approximately 22.34 carats

HK$ 300,000 - 450,000

Ravenel 24

US$ 38,000 58,000 NT$ 1,140,000 - 1,710,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

131

(part)

132

(part)

Ravenel 26

Fine Jewels and Jadeite Hong Kong 25 November 2012

132

(part)

132

A SUITE OF RUBELLITE, AMETHYST AND DIAMOND JEWELLERY 紅碧璽與紫水晶配鑽石項鍊，手鍊，耳墜及戒指套裝

Composed of a necklace, suspending a drop-shaped pavé-set diamond pendant set with an oval-shaped rubellite center, enhanced by cabochon amethysts, to a similarly-set neckchain; a bracelet, pair of ear pendants and ring en suite, mounted in 18k gold, necklace 43.0 cm long, bracelet 16.5 cm long, ear pendants 4.9 cm long, ring size 5 3/4

Total weight of the rubellites is approximately 156.96 carats; and total weight of the amethysts is approximately 50.26 carats

HK$ 750,000 - 900,000

US$ 96,000 - 115,000 NT$ 2,850,000 - 3,420,000

134

133

133

A PAIR OF JADEITE CUFF LINKS 緬甸天然翡翠與紫羅蘭翡翠配鑽石袖扣

Each set with a jadeite flowerhead of brilliant emerald green colour and good translucency, joined by a white gold bar, to the opposing terminal set with a fluted jadeite bead of lavender colour and very good translucency, enhanced by diamond collet center, mounted in white gold, largest flower approximately 17.0 x 15.7 x 4.0 mm, 3.0 cm long

Accompanied by two report nos. SJ55761 and SJ55762 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that two carved flowers tested are natural colour jadeite jade (Type A) and no resin is detected HK$ 50,000 - 60,000

134

US$ 6,400 7,700 NT$ 190,000 - 228,000

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然翡翠圓牌配鑽石耳墜

Designed as a line of two jadeite disks of very good translucency and bright green colour, each within a diamond-set surround suspending a rose-cut diamond terminal, to the diamond-set link spacer and hook, mounted in 18k white gold, largest disc approximately 15.1 x 1.7 mm, 7.2 cm long

Accompanied by report no. SJ55768 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the disc tested is natural colour jadeite jade (Type A) and no resin is detected HK$ 150,000 - 180,000

Ravenel 28

US$ 19,000 - 23,000 NT$ 570,000 - 684,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

135

136

135

A PAIR of JADEITE, GREEN GARNET AND DIAMOND EAR PENDANTS, BY MICHAEL YOUSSOUFIAN 緬甸天然翡翠配翠榴石及鑽石耳墜，MICHAEL YOUSSOUFIAN

Each designed as a tapered jadeite plaque of translucent material, suffused with section of green colour, depicting a butterfly amidst foliate and floral, to the triangular-shaped green garnet surmount and diamond-set foliate top, mounted in 18k white gold, largest plaque approximately 12.1 x 4.5 - 6.6 x 2.5 mm, 7.7 cm long

With jeweller's mark for Michael Youssoufian

HK$ 110,000 - 130,000

136

US$ 14,000 - 16,600 NT$ 418,000 - 494,000

A JADEITE AND DIAMOND PENDANT NECKLACE 緬甸天然翡翠蛋面與鑽石吊墜項鍊

The domed pendant, half section designed as a pavé-set diamond crescent enhanced by three black diamond-set Chinese characters "Ji " or "good fortune ", and the other half set with a cluster of diamond collets and vari-shaped jadeite cabochons of very good translucency and bright green colour, to the diamond-set surmount and black cord, mounted in 18k white gold, largest cabochon approximately 9.5 x 4.2 x 1.1 mm, pendant 2.7 cm long

HK$ 50,000 - 70,000

US$ 6,400 9,000 NT$ 190,000 - 266,000 The lot highlighted with red title is to be sold "without reserve"

137

138

137

A JADEITE AND DIAMOND PENDANT NECKLACE 緬甸天然翡翠配鑽石“喜事連連”吊墜項鍊

The pendant, set with two carved jadeite plaques of good translucency and strong emerald green colour, depicting magpies, lotus flowers and gourds, representing the rebus "may you have good fortune one after another" , to two diamond line surmounts, suspended from a detachable jadeite cabochon and diamond flowerhead neckchain, mounted in 18k white gold, largest plaque approximately 28.3 x 13.8 x 2.8 mm, necklace 40.5 cm long

Accompanied by report no. SJ57245 dated 15 October 2012 from the Hong Kong Jade & Stone Laboratory stating that the plaque tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 80,000 - 120,000

138

US$ 10,500 - 15,000 NT$ 304,000 - 456,000

A JADEITE AND DIAMOND RING 緬甸天然翡翠雙蛋面配鑽石戒指

Set with an oval jadeite double cabochon of high translucency and bright emerald green colour, within a pavé-set diamond surround, to the brilliant-cut diamond gallery and bifurcated shoulders, mounted in oxidised gold, cabochon approximately 16.4 x 10.8 x 6.0 mm, ring size 5 1/2

Accompanied by report no. SJ55766 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 200,000 - 300,000

Ravenel 30

US$ 25,500 38,500 NT$ 760,000 - 1,140,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

140

139

139

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然黑色翡翠配鑽石“壽”字耳墜

Each set with a pierced black jadeite disc depicting an archaic Chinese character "shou " or "longevity", within a diamond-set border, suspending brilliant-cut diamond and brown diamond briolette tassels, to the similarly-set surmount and top, mounted in 18k oxidised gold, largest disc 24.5 x 1.9 mm, 9.5 cm long

Accompanied by report no. SJ55769 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the disc tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 50,000 - 80,000

140

US$ 6,400 - 10,000 NT$ 190,000 - 304,000

A GROUP OF JADEITE, RUBY AND DIAMOND JEWELLERY 緬甸天然翡翠福豆配紅寶石及鑽石吊墜項鍊；和緬甸天然翡翠蛋面配鑽石耳環

Comprising a pendant necklace, set with a jadeite peapod of highly translucent bright green colour, enhanced by diamond-set frame, to the oval cabochon ruby and diamond surmount, suspended from a 14k white gold ropetwist chain; and a pair of earrings, each set with an oval jadeite cabochon of highly translucent and intense emerald green colour, to the marquise-cut diamond cluster surround, mounted in white gold, peapod approximately 32.7 x 10.4 x 6.0 mm, largest cabochon approximately 9.5 x 7.2 x 2.9 mm, necklace 41.0 cm long, earrings 1.9 cm long

Accompanied by report no. SJ55767 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the peapod is natural colour jadeite jade (Type A) and no resin is detected Accompanied by report no. SJ55760 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 80,000 - 100,000

US$ 10,300 - 13,000 NT$ 304,000 - 380,000

Ravenel 32

Fine Jewels and Jadeite Hong Kong 25 November 2012

141

(enlarged)

141

A JADEITE CARVING 緬甸天然翡翠配珊瑚“保平安”擺件

Suspending a carved jadeite vase of icy material, representing the rebus "may you have a safe journey" , joined by the coral and jadeite bead surmount, to the black cord terminating in jadeite bead tassels (with carved wooden stand), carving approximately 85.0 x 48.0 x 12.6 mm, wooden stand 33.0 cm high

Accompanied by report no. SJ51326 dated 11 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the carving is natural colour jadeite jade (Type A) and no resin is detected

HK$ 180,000 - 200,000

US$ 23,000 - 25,500 NT$ 684,000 - 760,000

142

142

A PAIR OF JADEITE BANGLES 一對緬甸天然冰種翡翠手鐲

Each cylindrical jadeite band of icy material, suffused with bright green streaks to the colourless background, inner diameters approximately 53.0 and 54.0 mm, widths approximately 9.2 and 8.9 mm, thicknesses approximately 9.0 and 8.5 mm

Accompanied by two report nos. SJ57433 and SJ57435 dated 17 October 2012 from the Hong Kong Jade & Stone Laboratory stating that both bangles are natural colour jadeite jade (Type A) and no resin is detected

HK$ 200,000 - 250,000

Ravenel 34

US$ 25,600 - 32,000 NT$ 760,000 - 950,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

143

143

A SUITE OF JADEITE BEAD AND DIAMOND JEWELLERY 緬甸天然紫羅蘭翡翠珠項鍊及耳墜套裝

The necklace comprising twenty-eight jadeite beads of lavender colour and very good translucency, measuring approximately from 12.3 to 15.9 mm, enhanced by green jadeite bead spacers, to a sterling silver bean-shaped clasp; and a pair of ear pendants, each set with a jadeite bead of matching material, suspending white gold link tassels, to a detachable brilliant-cut diamond surmount and hook, necklace 49.0 cm long, ear pendants 6.6 cm long

Accompanied by report nos. KJ74610, KJ74611 and KJ74612 dated 11 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the beads tested are natural colour jadeite jade (Type A) and no resin is detected HK$ 350,000 - 550,000

US$ 45,000 70,500 NT$ 1,330,000 - 2,090,000

144

A JADEITE BEAD NECKLACE 緬甸天然翡翠珠鍊

Comprising eighty-three jadeite beads of high translucency and bright green colour, measuring approximately from 7.0 to 10.1 mm, to a sterling silver bow clasp, 78.0 cm long

Accompanied by report no. KJ74609 dated 11 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the bead tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,500,000 - 2,500,000

145

US$ 192,000 - 320,000 NT$ 5,700,000 - 9,500,000

A JADEITE AND DIAMOND RING 緬甸天然翡翠蛋面配鑽石戒指

Set with an oval jadeite cabochon of bright green colour and good translucency, flanked by trilliant-cut diamonds to the diamond-set gallery, mounted in 18k white gold, cabochon approximately 20.1 x 14.7 x 8.2 mm, ring size 6 1/4

Accompanied by report no. SJ55763 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 250,000 - 350,000

US$ 32,000 45,000 NT$ 950,000 - 1,330,000

145

144

Ravenel 36

Fine Jewels and Jadeite Hong Kong 25 November 2012

146

147

146

A JADEITE AND DIAMOND RING 緬甸天然翡翠蛋面配鑽石戒指

Set with an oval jadeite cabochon of emerald green colour and good translucency, to the pavé-set diamond bombé surround and bifurcated shoulders, mounted in 18k white gold, cabochon approximately 14.6 x 13.0 x 8.0 mm, ring size 6 1/2

Accompanied by report no. SJ55765 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 250,000 - 350,000

147

US$ 32,000 45,000 NT$ 950,000 - 1,330,000

A JADEITE AND DIAMOND RING 緬甸天然翡翠馬鞍面配鑽石戒指

Set with a jadeite saddle top of bright green colour and very good translucency, to the pavé-set diamond half-hoop surround, mounted in 18k white gold, saddle top approximately 20.6 x 9.1 x 4.2 mm, ring size 8 1/4

HK$ 380,000 - 450,000

US$ 49,000 58,000 NT$ 1,444,000 - 1,710,000

148

(enlarged)

148

A JADEITE AND DIAMOND RING 緬甸天然翡翠配鑽石戒指

Set with a curved rectangular plaque of excellent translucency and brilliant emerald green colour, to the diamond-set gallery and shoulders, mounted in 18k white gold, plaque approximately 21.8 x 13.9 x 6.4 mm

Accompanied by report no. SJ55899 dated 20 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the plaque is natural colour jadeite jade (Type A) and no resin is detected

HK$ 850,000 - 1,200,000

Ravenel 38

US$ 109,000 - 154,000 NT$ 3,230,000 - 4,560,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

149

150

149

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然翡翠蛋面配鑽石耳墜

Each suspending a tapered jadeite cabochon of brilliant emerald green colour and very good translucency, within a diamond-set frame, to the vari-cut diamond foliate surmount and top, mounted in 14k white gold, largest jadeite cabochon approximately 17.3 x 6.8-11.7 x 3.6 mm, 4.0 cm long

Accompanied by report no. SJ54416 dated 29 August 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon tested is natural colour jadeite jade (Type A) and no resin is detected HK$ 800,000 - 1,000,000

150

US$ 103,000 - 128,000 NT$ 3,040,000 - 3,800,000

A JADEITE AND DIAMOND PENDANT NECKLACE 緬甸天然翡翠佛手配鑽石吊墜項鍊

The thick and highly translucent carved jadeite finger citron of bright emerald green colour, with a rat and ruyi atop, representing the rebus "good fortune and wealth ", to the diamond collet surmount and detachable oval-link chain, mounted in 18k white gold, finger citron approximately 39.5 x 21.2 x 9.4 mm, 49.5 cm long

Accompanied by report no. SJ54412 dated 29 August 2012 from the Hong Kong Jade & Stone Laboratory stating that the finger citron is natural colour jadeite jade (Type A) and no resin is detected HK$ 180,000 - 250,000

US$ 23,000 - 32,000 NT$ 684,000 - 950,000

151

152

151

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然翡翠蛋面配鑽石耳墜

Each set with a highly translucent oval jadeite cabochon of vivid emerald green colour, to the oval-shaped diamond cluster surround suspending an oval-shaped diamond terminal, mounted in 18k white gold, largest cabochon approximately 12.2 x 9.4 x 3.8 mm, 2.5 cm long

Accompanied by report no. SJ57247 dated 15 October 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,800,000 - 2,500,000

152

US$ 230,000 - 320,000 NT$ 6,840,000 - 9,500,000

A JADEITE AND DIAMOND RING 緬甸天然翡翠蛋面配鑽石戒指

Set with an oval jadeite cabochon of excellent translucency and even vivid emerald green colour, to the brilliant-cut diamond surround and bifurcated shoulders, mounted in white gold, cabochon approximately 14.9 x 11.2 x 5.5 mm, ring size 6 1/2

Accompanied by report no. SJ57243 dated 15 October 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 850,000 - 1,100,000

Ravenel 40

US$ 109,000 - 141,000 NT$ 3,230,000 - 4,180,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

153

(enlarged)

153

A JADEITE AND DIAMOND RING 緬甸天然翡翠雙蛋面配鑽石戒指

The oval jadeite double cabochon of icy material, suffused with intense green streaks against green background, to the brilliant-cut diamond surround, gallery and shoulders, mounted in 18k white gold, cabochon approximately 23.7 x 20.0 x 9.8 mm, ring size 6 1/4

Accompanied by report no. KJ74863 dated 17 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,000,000 - 1,500,000

US$ 128,000 - 192,000 NT$ 3,800,000 - 5,700,000

154

154

A JADEITE GUANYIN PENDANT NECKLACE 緬甸天然翡翠觀音配鑽石吊墜項鍊

The well-carved guanyin of icy pale green colour, suffused with bright green patches and streaks, depicting the Goddess of Mercy sitting on a lotus flower, holding a ruyi in one hand, with a rat clambering down her arm, to the diamond-set cluster surmount and adjustable black cord, mounted in 18k white gold, guanyin approximately 66.2 x 28.1 x 16.7 mm, 68.0 cm long

Accompanied by report no. KJ74860 dated 17 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the guanyin is natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,000,000 - 1,500,000

Ravenel 42

US$ 128,000 - 192,000 NT$ 3,800,000 - 5,700,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

155

155

A RUBY AND DIAMOND NECKLACE 緬甸紅寶石與鑽石項鍊，紅寶石共39.24克拉，鑽石共13.75克拉，附GIA證書

Designed as a row of alternately-set oval-shaped rubies and emerald-cut diamonds weighing a total of approximately 39.24 and 13.75 carats respectively, each within a diamond-set surround, mounted in 18k white gold, 40.0 cm long

Accompanied by seventeen reports dated from 25 August 2008 to 16 February 2010 from the Gemological Institute of America stating that seventeen diamonds weighing from 0.78 to 0.84 carat are D to E colour, VVS1 to VS1 clarity

HK$ 3,400,000 - 3,800,000

Ravenel 44

US$ 435,000 487,000 NT$ 12,920,000 - 14,440,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

156

(enlarged)

156

A SAPPHIRE AND DIAMOND RING, BY WILDS 12.14克拉枕形緬甸天然藍寶石配鑽石戒指，附SSEF證書，WILDS

Set with a cushion-shaped sapphire weighing 12.14 carats, enhanced by diamond-set prongs and surround, to the rose-cut diamond gallery and brilliant-cut diamond bombé shoulders, mounted in 18k white gold, ring size 6 1/4

Accompanied by report no. 54293 dated 1 September 2009 from the SSEF Gemmological Institute stating that the 12.14 carat sapphire is of Burmese origin and with no indications of heating With jeweller's mark for Wilds

HK$ 1,200,000 - 1,500,000

US$ 154,000 - 192,000 NT$ 4,560,000 - 5,700,000

157

(enlarged)

157

AN EMERALD AND DIAMOND RING, BY MICHAEL YOUSSOUFIAN 17.52克拉贊比亞祖母綠配石榴石及鑽石戒指，附Gübelin證書，MICHAEL YOUSSOUFIAN

Set with a hexagonal-shaped carved emerald weighing approximately 17.52 carats, within the emerald, green garnet and diamond foliate surround, to the brilliant-cut diamond bifurcated shoulders, mounted in white gold, ring size 7

With jeweller's mark for Michael Youssoufian Accompanied by report no. 12067039 dated 20 June 2012 from the Gübelin Gem Lab stating that the 17.52 carat emerald is of Zambian origin and with indications of minor clarity enhancement

HK$ 380,000 - 450,000

Ravenel 46

US$ 49,000 58,000 NT$ 1,444,000 - 1,710,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

158

(reduced)

158

AN IVORY, DIAMOND AND GEM-SET BRACELET, BY MICHAEL YOUSSOUFIAN 象牙配鑽石，粉紅藍寶及石榴石“福祿壽”手鍊，MICHAEL YOUSSOUFIAN

Designed as a row of four ivory plaques, each engraved with two children playing with peaches; flying a kite; playing with a boat of gold ingots; and juggling diabolo, representing the rebus "good fortune, wealth, longevity and protection from evil" , enhanced by diamond and yellow diamond scrolled edges, to the pink sapphire, green garnet and diamond floral and foliate spacers, mounted in 18k white gold, 17.5 cm long

With jeweller's mark for Michael Youssoufian

HK$ 120,000 - 180,000

US$ 15,500 - 23,000 NT$ 456,000 - 684,000

159

160

159

AN OPAL AND MULTI-COLOURED SAPPHIRE RING 17.21克拉蛋白石配彩色藍寶石戒指

Set with a rectangular cabochon opal weighing 17.21 carats, to the pavé-set multi-coloured sapphire surround, gallery and band, mounted in 18k oxidised gold, ring size 6 1/2

HK$ 140,000 - 180,000

160

US$ 18,000 - 23,000 NT$ 532,000 - 684,000

AN OPAL AND DIAMOND RING, BY MICHAEL YOUSSOUFIAN 47.59克拉蛋白石配鑽石戒指，MICHAEL YOUSSOUFIAN

The round cabochon opal weighing approximately 47.59 carats, to the brilliant-cut diamond sunray gallery and pavé-set diamond shoulders, mounted in 18k white gold, ring size 7

With jeweller's mark for Michael Youssoufian

HK$ 280,000 - 350,000

Ravenel 48

US$ 36,000 45,000 NT$ 1,064,000 - 1,330,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

Ethiopian opal In the early 1990’s, opal was first discovered in Mezezo, Shewa province in Ethiopia. In 2008, a much nicer material of vivid play-of-colour was found in Welo. This new mine is stable and available in a wide range of colours, such as white, blue, yellow, pink, red and so on.

Ethiopian Welo opal is popular because of its rich and spectacular phenomenon. A majority of the opals from this field have diverse play-of-colours from neon reds, oranges, greens, blues, whites, yellows and browns. The colours are more even, which are barely found in the Australian opals.

A majority of Ethiopian opals are hydrophane, which, when immersed in water for a short period of time – a few minutes to an hour - will become transparent, and sometimes the play-of-colour may vanish. The process is fully reversible within a few hours, depending on the humidity and thickness of the opal. This phenomenon is highly prized by collectors.

Ravenel's inaugural jewellery sale in Hong Kong proudly presents two outstanding Ethiopian white opal rings (lot 159 and lot 160) – the new rising stars of the gemstone world. 埃塞俄比亞蛋白石 曾經多年前出現在國際拍賣會的埃塞俄比亞白蛋白石，近年來又再次引起收藏家 的注意。 有別於九十年代所發現的蛋白石礦區（Shewa省，Mezezo礦區），2008年在 Welo省附近所發現的新礦區，出產的蛋白石，無論產量，品質及色彩種類，皆比 舊礦區平穩和豐富。 新礦的蛋白石受市場推崇的原因，在於其質地較為細緻，虹彩效果非常耀眼， 色濃度十分艷麗而且多元化，虹彩的種類更為廣泛：霓虹紅，橘，綠，藍，白， 黃及棕色。而且顏色的分佈也更為平均，是澳洲蛋白石所無法呈現的。 大部份埃塞俄比亞蛋白石的親水性十足。將寶石放置水中約一小時，整顆蛋白石 會呈現完全透明的狀態。待取出水中，又隨既回復原來的虹彩風貌。這種特有的 虹彩效果，也是收藏家所推崇的。 Ravenel 此次的香港首拍，特別引薦兩顆白蛋白石戒指（Lot 159與Lot 160）－ 珠寶市場下一個注目之星，埃塞俄比亞白蛋白石。

161

(enlarged)

161

A GEM-SET PAPAYA RING, BY MICHAEL YOUSSOUFIAN 彩色藍寶石配黑瑪瑙木瓜戒指，MICHAEL YOUSSOUFIAN

Designed as a circular-cut yellow and orange sapphire papaya enhanced by onyx seeds, to the yellow sapphire bifurcated shoulders, mounted in 18k yellow and white gold, ring size 6 1/2

With jeweller's mark for Michael Youssoufian

HK$ 60,000 - 80,000

Ravenel 50

US$ 7,700 - 10,000 NT$ 228,000 - 304,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

162

163

162

A GEM-SET AND DIAMOND RING, BY JUDY CHAO 6.27克拉丹泉石配彩色藍寶石及鑽石戒指，JUDY CHAO

Designed as a flowerhead with a cushion-shaped tanzanite pistil weighing approximately 6.27 carats, to the diamond stamen and pavé-set diamond and multi-coloured sapphire petals, accented by multi-coloured sapphire briolettes, mounted in oxidised gold, ring size 6

With jeweller's mark for Judy Chao

HK$ 60,000 - 90,000

163

US$ 7,700 - 11,500 NT$ 228,000 - 342,000

AN AQUAMARINE, SAPPHIRE AND DIAMOND PENDANT NECKLACE, BY WILDS 66.37克拉海藍寶配藍寶石及鑽石吊墜項鍊，WILDS

The pendant, designed as a faceted aquamarine bar weighing approximately 66.37 carats, with brilliant-cut diamond details, to the pavéset sapphire and diamond cupola terminals suspended from a link chain, mounted in 18k white gold, necklace 61.0 cm long, pendant 7.6 cm long

With jeweller's mark for Wilds

HK$ 240,000 - 300,000

US$ 30,500 38,500 NT$ 912,000 - 1,140,000

165

164

164

TWO PAIRS OF DIAMOND EARRINGS 鑽石耳墜及耳環

The first pair, each designed as a brilliant-cut diamond twin hoop to a diamond-set line top; and the other, each designed as a cluster of brilliant-cut diamonds; mounted in 18k white gold, 4.0 and 2.7 cm long

HK$ 75,000 - 90,000

165

US$ 9,600 - 11,500 NT$ 285,000 - 342,000

A SOUTH SEA CULTURED PEARL AND DIAMOND "VIA LATTEA" NECKLACE 南洋養殖珍珠與鑽石“銀河”項鍊

The Milky Way composed of nineteen cultured pearls measuring approximately from 11.4 to 14.2 mm, to the faceted milky diamond bead spacers and multi-strand neckchain, mounted in white gold, 84.0 cm long

HK$ 160,000 - 180,000

Ravenel 52

US$ 20,500 - 23,000 NT$ 608,000 - 684,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

166

166

A PAIR OF RUBY AND DIAMOND EARRINGS, BY JUDY CHAO 4.26與4.73克拉六角形莫桑比克天然紅寶石配鑽石耳環，附GRS證書，JUDY CHAO

Each designed as a brilliant-cut diamond snowflake centering upon a hexagonal-shaped ruby weighing 4.26 and 4.73 carats, mounted in 18k white gold, 3.3 cm long

With jeweller's mark for Judy Chao Accompanied by two report nos. GRS2012-043615 and GRS2012-043614 dated 26 April 2012 from the Gem Research Swiss Lab stating that the 4.26 and 4.73 carat rubies are of Mozambican origin and with no indication of thermal treatment

HK$ 80,000 - 110,000

US$ 10,300 - 14,000 NT$ 304,000 - 418,000

167

168

167

AN EMERALD AND DIAMOND BROOCH, BY MAUBOUSSIN 祖母綠配鑽石盆栽胸針，MAUBOUSSIN

Designed as a bonsai, the pot set with a carved emerald plaque enhanced by brilliant-cut diamond border, to the pavé-set diamond miniature tree with carved emerald leaves, mounted in 18k white gold, 5.0 cm long

With jeweller's mark for Mauboussin, no. 26479

HK$ 130,000 - 190,000

US$ 16,500 - 24,500 NT$ 494,000 - 722,000

AN ART DECO CORAL, DIAMOND AND ONYX PENDANT NECKLACE

168

裝飾藝術時期珊瑚配鑽石及黑瑪瑙吊墜項鍊

The pendant, centering upon a semi-cylindrical shaped coral to the brilliant-cut diamond hexagonal panel surround, with faceted onyx details, suspended from the similarly-set surmount and neckchain, mounted in platinum, circa 1920, 44.0 cm long

HK$ 180,000 - 220,000

Ravenel 54

US$ 23,000 - 28,000 NT$ 684,000 - 836,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

170

169

169

AN ANTIQUE DIAMOND AND ENAMEL PENDANT NECKLACE 古典鑽石與琺瑯吊墜項鍊

The pendant, designed as an octagonal green enamel panel with old European-cut diamond accents and openwork half border, suspending a fringe of old-cut diamond collets, to the link chain spaced by green enamel bars, mounted in platinum, circa 1900, 45.5 cm long

HK$ 160,000 - 200,000

170

US$ 20,500 - 25,500 NT$ 608,000 - 760,000

A PAIR OF RUBELLITE AND DIAMOND EAR PENDANTS 11.45與12.10克拉紅碧璽配鑽石耳墜

Each set with a pear-shaped rubellite weighing approximately 11.45 and 12.10 carats, to the brilliant-cut diamond surround and hook, mounted in 18k white gold, 4.4 cm long

HK$ 120,000 - 140,000

US$ 15,500 - 18,000 NT$ 456,000 - 532,000

171

172

171

A NATURAL PEARL AND DIAMOND RING 天然珍珠配鑽石戒指，附AGTA證書

Set with a natural pearl measuring approximately 15.2 - 15.5 x 12.5 mm, to the old-cut diamond foliate shoulders, mounted in platinum, circa 1905, with French assay marks for platinum and gold, ring size 5 1/2

HK$ 180,000 - 250,000

172

US$ 23,000 - 32,000 NT$ 684,000 - 950,000

A FRESHWATER PEARL AND DIAMOND BRACELET, BY WILLIAM RUSER 鈕扣型淡水珍珠配鑽石手鍊，WILLIAM RUSER

Designed as an articulated band of button-shaped freshwater pearls, to the brilliant-cut diamond borders and scrolled spacers, mounted in platinum, 17.0 cm long

With jeweller's mark for William Ruser

HK$ 110,000 - 160,000

Ravenel 56

US$ 14,000 - 20,500 NT$ 418,000 - 608,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

173

174

173

A PAIR OF FRESHWATER CULTURED PEARL AND DIAMOND EAR PENDANTS, BY MICHAEL YOUSSOUFIAN 淡水養殖珍珠配鑽石耳墜，MICHAEL YOUSSOUFIAN

Each of double girandole design, suspending drop-shaped freshwater cultured pearls from the diamond-set intertwined frames, enhanced by cut-cornered rectangular-cut diamonds, mounted in white gold, 7.6 cm long

With jeweller's mark for Michael Youssoufian

HK$ 65,000 - 90,000

174

US$ 8,300 - 11,500 NT$ 247,000 - 342,000

A PINK SAPPHIRE AND DIAMOND RING 粉紅藍寶石配鑽石戒指

Designed as three butterflies, each with rose-cut pink sapphire wings to the brilliant-cut diamond body and details, mounted in 18k white gold, ring size 6 1/2

HK$ 48,000 - 68,000

US$ 6,100 8,700 NT$ 182,000 - 258,000

176

175

175

A RUBELLITE AND DIAMOND PENDANT NECKLACE 114.36克拉紅碧璽配鑽石吊墜項鍊

Set with an oval cabochon rubellite weighing approximately 114.36 carats, to the undulating diamond-set surround, suspended from a diamond-set hoop surmount and black cord, mounted in 18k white gold, pendant 4.9 cm long

HK$ 200,000 - 250,000

176

US$ 25,500 - 32,000 NT$ 760,000 - 950,000

AN ART DECO JADEITE AND DIAMOND JABOT PIN 裝飾藝術時期緬甸天然翡翠懷古配鑽石胸針

Each terminal set with a jadeite huaigu of good translucency and strong green colour, enhanced by scissor-cut diamond center, to the baguette and old brilliant-cut diamond bell-shaped panel, mounted in platinum, circa 1930, largest huaigu approximately 17.8 x 4.9 mm, 6.6 cm long

HK$ 220,000 - 260,000

Ravenel 58

US$ 28,000 - 33,000 NT$ 836,000 - 988,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

177

178

177

TWO DIAMOND CLIP BROOCHES 一對鑽石胸針

Each designed as a spray of brilliant and baguette-cut diamond scrolls, mounted in platinum and white gold, circa 1945, with French assay marks for platinum and gold, brooches 5.3 and 5.5 cm long

HK$ 180,000 - 250,000

178

US$ 23,000 - 32,000 NT$ 684,000 - 950,000

A LADY's DIAMOND WATCH, BY GÜBELIN 女裝鑽石腕錶，GÜBELIN

Mechanical lever movement, the cream dial with applied baton numerals, concealed within the pear-shaped and baguette-cut diamond cover, to the marquise-cut diamond lugs and baguette-cut diamond twin line bracelet, mounted in platinum, circa 1950, 16.0 cm long

Dial signed Gübelin

HK$ 380,000 - 450,000

US$ 49,000 57,500 NT$ 1,444,000 - 1,710,000

179

179

A JADEITE CARVING 緬甸天然翡翠“常食常有”擺件

The semi-translucent jadeite carving suffused with green and honey yellow patches, carved as lettuce sandwiched between a hamburger bun sprinkled with sesame seeds, representing the rebus "May you have inexhaustable wealth", carving approximately 90.0 x 70.0 x 45.0 mm

HK$ 30,000 - 50,000

Ravenel 60

US$ 3,800 6,400 NT$ 114,000 - 190,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

常食常有 充分詼諧表達出東方文化對「民以食為天」之恩典與感恩。 玉雕技術發展至清朝時期已經達到登峰造極狀態。 「巧作玉」始終是雕刻師傅琢玉歷程上一項嚴厲的考驗。除了造工嚴謹，一絲不苟外，另面對原石天然之 美與「玉不琢，不成器」之間的分寸如何巧妙拿捏，如何畫龍點睛更為一大挑戰。 雕刻家集陰線、陽線、平凸、隱起⋯等多種傳統造工，加以揉合變通，進而點出芝麻的欲滴、葉菜的青 嫩、龜裂麵包上的深淺棕色酥脆外皮、光澤帶出的可口香韻⋯等，將蘊藏在玉石內的精髓提煉融入生活玩 味，展現「一花一世界，一草一天堂」，原本頑石沉重、單調因此昇華，呈現盎然生氣。藝術、精工與玉 石融合相輔相成，點石成金。 「常食常有」亦能音譯為「嘗試常有」；為雕刻家用心寄予涵義，提醒正處逆境的人，勇於嘗試體驗，正 面迎擊，無懼挫折，化阻力為助力之意。

180

181

180

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然翡翠蛋面配鑽石耳墜

Of chandelier design, each suspending three brilliant-cut diamond tassels terminating with oval jadeite cabochons of vivid emerald green colour and high translucency, enhanced by brilliant-cut diamond surmount, to the rose-cut diamond top within diamond-set frame, mounted in 18k white gold, largest cabochon approximately 7.8 x 5.8 x 2.6 mm, 5.9 cm long

Accompanied by report no. SJ54417 dated 29 August 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 90,000 - 130,000

181

US$ 11,500 - 16,500 NT$ 342,000 - 494,000

A JADEITE AND DIAMOND RING 緬甸天然翡翠蛋面配鑽石戒指

Set with a high domed oval jadeite cabochon of excellent translucency and vivid emerald green colour, to the brilliant-cut diamond two-tiered surround and pavé-set diamond shoulders, mounted in 18k white gold, cabochon approximately 10.3 x 8.9 x 6.0 mm, ring size 5 3/4

Accompanied by report no. SJ54415 dated 29 August 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 120,000 - 160,000

Ravenel 62

US$ 15,500 - 20,500 NT$ 456,000 - 608,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

184

182

183

182

A JADEITE AND DIAMOND RING 緬甸天然翡翠蛋面配鑽石戒指

Set with a navette-shaped jadeite cabochon of bright emerald green colour and very good translucency, flanked to each side by a baguette-cut diamond, to the brilliant-cut diamond gallery and shoulders, mounted in 18k white gold, cabochon approximately 28.3 x 11.2 x 6.5 mm, ring size 6

Accompanied by report no. SJ55771 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 300,000 - 380,000

183

US$ 38,500 49,000 NT$ 1,140,000 - 1,444,000

A PINK SAPPHIRE AND DIAMOND RING 3.09克拉天然粉紅藍寶石配鑽石戒指，附GRS證書

Set with a cushion-shaped pink sapphire weighing approximately 3.09 carats, to the brilliant-cut diamond twin row surround and bifurcated shoulders, mounted in 18k white gold, ring size 6 1/4

Accompanied by report no. GRS2012-073244 dated 17 July 2012 from the Gem Research Swiss Lab stating that the 3.09 carat pink sapphire shows no indication of thermal treatment

HK$ 75,000 - 100,000

184

US$ 9,600 - 12,800 NT$ 285,000 - 380,000

A DIAMOND AND EMERALD JABOT PIN, BY MICHAEL YOUSSOUFIAN 3.18克拉三角形D/SI1鑽石配祖母綠及黃鑽胸針，附GIA證書，MICHAEL YOUSSOUFIAN

Set with a triangular mixed-cut diamond weighing 3.18 carats, spaced by a square-cut emerald to a tapered rectangular-cut yellow diamond, mounted in 18k white gold, 6.7 cm long

With jeweller's mark for Michael Youssoufian Accompanied by report no. 13654473 dated 13 September 2004 from the Gemological Institute of America stating that the 3.18 carat diamond is D colour, SI1 clarity

HK$ 390,000 - 450,000

US$ 50,000 57,500 NT$ 1,482,000 - 1,710,000

185

186

185

A SET OF RUBY AND DIAMOND JEWELLERY 紅寶石與鑽石胸針及耳環套裝

Comprising a double clip brooch, each designed as a cascade of brilliant and baguette-cut diamonds with oval-shaped ruby details; and a pair of ear clips en suite, mounted in 18k white gold, double brooch 7.4 cm long, ear clips 4.1 cm long

HK$ 310,000 - 360,000

186

US$ 40,000 46,000 NT$ 1,178,000 - 1,368,000

A DIAMOND RING 5.09克拉正方形I/VS1鑽石戒指，附GIA證書

Set with a modified square-cut diamond weighing 5.09 carats, to the princess-cut diamond border and pavé-set diamond bombé shoulders, mounted in 18k white gold, ring size 6 1/2

Accompanied by report no. 5141886766 dated 14 August 2012 from the Gemological Institute of America stating that the 5.09 carat diamond is I colour, VS1 clarity

HK$ 750,000 - 850,000

Ravenel 64

US$ 96,000 - 109,000 NT$ 2,850,000 - 3,230,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

188

189

187

187

A DIAMOND RING 5.23克拉長方形H/SI1鑽石戒指，附GIA證書

The modified rectangular-cut diamond weighing 5.23 carats, flanked by trilliant-cut diamonds, to the 18k white gold band, ring size 7 1/4

Accompanied by report no. 2145886748 dated 14 August 2012 from the Gemological Institute of America stating that the 5.23 carat diamond is H colour, SI1 clarity

HK$ 350,000 - 450,000

188

US$ 45,000 57,500 NT$ 1,330,000 - 1,710,000

A PAIR OF DIAMOND EARRINGS 鑽石耳環

Each centering upon a pear-shaped diamond to the tapered baguette-cut diamond hoop surround, mounted in 18k white gold, 2.5 cm long

HK$ 90,000 - 120,000

189

US$ 11,500 - 15,500 NT$ 342,000 - 456,000

A DIAMOND RING 4.02克拉橢圓形E/VVS1鑽石戒指，附GIA證書

Set with an oval-shaped diamond weighing 4.02 carats, to the princess-cut diamond shoulders enhanced by tapered baguette-cut diamond borders, mounted in white gold, ring size 7

Accompanied by report no. 2145886714 dated 14 August 2012 from the Gemological Institute of America stating that the 4.02 carat diamond is E colour, VVS1 clarity

HK$ 720,000 - 820,000

US$ 92,000 - 105,000 NT$ 2,736,000 - 3,116,000

190

191

190

A RUBY AND DIAMOND BROOCH 4.50克拉紅寶石配鑽石胸針，附AGTA證書

The flower, centering upon a cushion-shaped ruby weighing 4.50 carats, surrounded by pear-shaped diamond petals and marquise-cut diamond sepals, to the baguette-cut diamond stem and vari-cut diamond leaves, mounted in platinum, 5.3 cm long

HK$ 220,000 - 300,000

191

US$ 28,000 38,500 NT$ 836,000 - 1,140,000

A SAPPHIRE AND DIAMOND BRACELET 斯里蘭卡藍寶石共40.34克拉配鑽石手鍊，附GRS證書

Designed as a row of cut-cornered rectangular-cut sapphires weighing a total of approximately 40.34 carats, to the brilliant-cut diamond three-stone spacers and marquise-cut diamond borders, mounted in 18k white gold, 17.0 cm long

Accompanied by report no. GRS2010-110969 dated 4 November 2010 from the Gem Research Swiss Lab stating that eighteen sapphires are of Sri Lankan origin. Also accompanied by an appendix stating that fifteen sapphires show no indication of thermal treatment and three sapphires are enhanced by heat

HK$ 680,000 - 850,000

Ravenel 66

US$ 87,000 - 109,000 NT$ 2,584,000 - 3,230,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

192

193

192

A SAPPHIRE AND DIAMOND RING 13.72克拉緬甸天然蛋面藍寶石配鑽石戒指，附GRS證書

Set with an oval cabochon sapphire weighing approximately 13.72 carats, flanked to each side by a smaller cabochon sapphire, to the marquise and brilliant-cut diamond borders, mounted in platinum, ring size 5 1/2 (ring size can be adjusted to size 7 1/2)

Accompanied by report no. GRS2002-09688 dated 29 September 2002 from the Gem Research Swiss Lab stating that the 13.72 carat sapphire is of Burmese origin and with no indication of thermal treatment HK$ 280,000 - 350,000

193

US$ 36,000 45,000 NT$ 1,064,000 - 1,330,000

AN EMERALD AND DIAMOND RING 6.13克拉哥倫比亞祖母綠配鑽石戒指，附GRS證書

Set with an octagonal-shaped emerald weighing approximately 6.13 carats, to the pear-shaped diamond cluster surround, mounted in platinum, ring size 6

Accompanied by report no. GRS2012-062599 dated 22 June 2012 from the Gem Research Swiss Lab stating that the 6.13 carat emerald is of Colombian origin, with insignificant clarity enhancement HK$ 800,000 - 900,000

US$ 103,000 - 115,000 NT$ 3,040,000 - 3,420,000

194

(reduced)

A BLACK ALLIGATOR TOTES BAG, BY CHANEL

194

鱷魚皮手提袋，CHANEL

With silver metal hardware, 2007, dimension 53.0 x 14.0 x 40.0 cm , with Chanel dustbag HK$ 380,000 - 450,000

Ravenel 68

US$ 49,000 57,500 NT$ 1,444,000 - 1,710,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

195

(reduced)

195

A SUITE OF 18K WHITE GOLD AND DIAMOND JEWELLERY, BY CHANEL 18k白金與鑽石項鍊，耳環及戒指套裝，CHANEL

Comprising a collar necklace, designed as an articulated 18k white gold band with a series of camelia, diamond collet and four-leaf clover overlays; a pair of ear clips and ring en suite, with French assay marks for gold, necklace 45.0 cm long, ear clips 2.0 cm long, ring size 5 1/2

The necklace signed Chanel, no. 17G663; the ear clips signed Chanel, no. 17E160; the ring signed Chanel, no. 17E381 HK$ 150,000 - 180,000

US$ 19,000 - 23,000 NT$ 570,000 - 684,000

197

196

196

A DIAMOND "COMÈTE" RING, BY CHANEL 1.00克拉E/VVS1鑽石“彗星”戒指，附GIA證書，CHANEL

Of crossover design, one terminal designed as a star centering upon a brilliant-cut diamond weighing 1.00 carat, to the brilliant-cut diamond band, mounted in platinum, ring size 5

Signed Chanel, No. 7E102 Accompanied by report no. 6135855401 dated 27 August 2012 from the Gemological Institute of America stating that the 1.00 carat diamond is E colour, VVS1 clarity HK$ 140,000 - 180,000

197

US$ 18,000 - 23,000 NT$ 532,000 - 684,000

A SET OF SAPPHIRE AND DIAMOND "COMÈTE" JEWELLERY, BY CHANEL 藍寶石與鑽石“彗星”戒指及耳環套裝，CHANEL

Comprising a ring, designed as the brilliant-cut diamond shooting star to the oval-shaped sapphire night sky, enhanced by a diamond collet, mounted in 18k white gold; and a pair of ear clips en suite, with French assay marks for gold, ring size 5 3/4, ear clips 2.2 cm long,

The ring signed and with maker's mark for Chanel, No. 14F258; the ear clips signed and with maker's mark for Chanel, No. 14F229 HK$ 180,000 - 220,000

Ravenel 70

US$ 23,000 - 28,000 NT$ 684,000 - 836,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

198

198

A RUBY AND DIAMOND RING 9.06克拉緬甸蛋面紅寶石配鑽石戒指，附GRS證書

Set with a pear-shaped cabochon ruby weighing 9.06 carats, within the pear-shaped and marquise-cut diamond cluster surround weighing a total of approximately 6.76 carats, to the brilliant-cut diamond crossover band, mounted in white gold, ring size 6 1/2

Accompanied by report no. GRS2010-082685 dated 21 August 2010 from the Gem Research Swiss Lab stating that the 9.06 carat ruby is of Burmese origin, vivid red colour (GRS type "pigeon's blood"), enhanced by heat and with no surface cavity fillings

HK$ 700,000 - 950,000

US$ 90,000 - 122,000 NT$ 2,660,000 - 3,610,000

Gimel Gimel’s workshop looks out into Japan's Rokko Mountains National Park. Separated by glass walls, the magnificent surrounds gave the creator, Ms Kaoru Kay Akihara a sense of closeness to nature. The composed and contemplative creator believes that a harmonious environment is required to create beautiful jewellery. Her signature trademark, is playfully hiding a small gem-set bug in each of her pieces – however small, like the ruby ladybird and sapphire ant on the reverse of the daisy (lot 201) and canary tourmaline sunflowers (lot 200).

Ms Akihara personally handpicks each stone for all her jewellery, with an uncompromising eye. Each Gimel piece is memorable for the subtle graduation of colour attained by the careful selection of specific gemstones. Often using coloured diamonds as shading and demantoid garnets to portray the beauty of nature's green, as exclusively presented by the stunning jadeite hoop necklace in lot 199. Her love for pearls, whether cultured or natural, is often used in many of her designs. Ms Akihara believes that pearls become a part of the wearer's life and will lasts for generations beyond.

Ms Akihara is driven by her fascination with the natural world. Simplicity and exquisite workmanship is what makes a Gimel piece the pinnacle of any jewellery collection. Gimel proves that standing the test of time can be achieved by skills and dedicated craftsmanship. Ms Akihara's goal is to create something aesthetical and everlasting for the future world to see and behold.

Ravenel 72

Fine Jewels and Jadeite Hong Kong 25 November 2012

從Gimel工作室看出去映入眼簾的是日本六甲山國家公園；透過大片玻璃牆，四周秀麗的景緻讓Gimel品牌設計師亦創辦人 Kaoru Kay Akihara女士貼近大自然，汲取靈感；她氣定神閒的相信且表示，創造瑰麗珠寶精品在一個和諧恬靜的環境是必 要的。在Akihara的每一件作品，即使小小一件，都有象徵她的專屬商標－一隻鑲滿寶石的小昆蟲；像是在小雛菊後的紅寶 石瓢蟲 (lot 201) 和在金碧耀眼向日葵後的藍寶石螞蟻 (lot 200) 。 Akihara女士完美堅持和那獨道的眼光，執手親挑細選起每一塊寶石，鑲嵌、點綴、精心設計製作珠寶作品的每個小細節。 Gimel精於細膩運用頂級精選寶石於每一作品，渾然天成的鋪陳自然生動的氛圍。如在Ravenel本次秋拍中，天然翡翠圈及 翠榴石，配以小鑽，再鑲有18K黃金的項鍊 (lot 199)，此件精品就是絕妙運用彩鑽鑲崁與翠榴石色澤，相互透出層次呼應， 引出大自然的翠綠盎然感，細膩如畫的色調讓人留連忘返、驚艷難以忘卻。此外，Akihara女士喜愛運用珍珠設計創作，不 論是養殖或天然的珍珠作為題材，她相信珍珠可以絕妙融入穿戴者生活一部分，並可以世代珍藏相傳。 引領Akihara女士創作靈感來自於她對大自然魅力的追求與親近。簡潔與精巧絕妙的工藝，讓Gimel的作品成為頂尖的珠寶收 藏品。Gimel驗證了設計獨特，工藝精湛的創意珠寶是經得起時間的淬練與考驗。美麗的珠寶是雋永的，能世世代代讓人欣 賞與擁有，這就是Akihara的目標。

“Dancing lights, young fresh leaves eager with breath of life.

Humming bumblebees in search of honey, abound in fragrant with flowers.

Sunflowers face strongly towards the burning sun.

A dragonfly dances within the cool breeze.

Rhythmical cosmos sprays the autumn field, Maple deepens its red, smiling in the tranquil sunshine.

"婆娑的光影，初生的嫩葉，

Acknowledge the approaching winter.

展露著生命氣息，

The earth falls slowly to sleep as white crystals descend from heaven.

蜜蜂嗡嗡，輕舞穿梭花香間，覓蜜，

What have been lost and what will be lost, circle of life.

This beautiful and irreplaceable nature expressed in jewelry.

向日葵昂首迎向熾熱艷陽， 那一蜻蜓，隨著清涼微風，翩翩起， 和諧悠揚韻律灑落在秋瑟田野，

That is Gimel.”

楓葉深深紅暈，微笑迎接和煦的陽光，

- Gimel

即將來臨的冬季示意， 大地逐漸沉睡，銀白色水晶天堂降臨 殆盡的，將失去的，生命交替循環 將這美麗、無與倫比的大自然 寄予在瑰麗珠寶的千情萬種中 這就是 Gimel" - Gimel.

Ravenel 74

Fine Jewels and Jadeite Hong Kong 25 November 2012

199 199

A JADEITE, DEMANTOID GARNET AND DIAMOND PENDANT NECKLACE, BY GIMEL 緬甸天然翡翠圈配翠榴石及鑽石吊墜項鍊，附GIA證書，GIMEL

Designed as three jadeite hoops of different sizes, each of highly translucent material, suffused with brilliant emerald green streaks against light green background, to a detachable demantoid garnet hoop neckchain, mounted in 18k gold (with an extra 18k gold and diamond neckchain, and three diamond-set links), jadeite hoops inner diameter approximately 28.0, 35.5 and 43.5 mm, widths approximately 13.1 mm each, thicknesses approximately 3.0 mm each, neckchain 45.0 and 41.5 cm long

Signed Gimel Accompanied by report no. 6145050387 dated 26 September 2012 from the Gemological Institute of America stating that three green hoops are jadeite jades, natural colours and no evidences of impregnation were detected HK$ 4,800,000 - 6,800,000

US$ 615,000 870,000 NT$ 18,240,000 - 25,840,000

200

200

A CANARY TOURMALINE, DIAMOND AND DEMANTOID GARNET "SUNFLOWER" BROOCH, BY GIMEL 4.86與11.06克拉圓形綠黃色碧璽配翠榴石，鑽石及藍寶石“向日葵”胸針，GIMEL

Designed as two sunflowers, each set with a circular-cut canary tourmaline weighing 4.86 and 11.06 carats, surrounded by diamond and yellow diamond petals, to the demantoid garnet leaves, accented by a cabochon sapphire ant on the reverse, mounted in platinum and 18k gold, 4.0 cm wide

Signed Gimel HK$ 480,000 - 680,000

Ravenel 76

US$ 61,500 87,000 NT$ 1,824,000 - 2,584,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

201

201

A PEARL, DIAMOND AND DEMANTOID GARNET "DAISY" BROOCH, BY GIMEL 珍珠配粉紅鑽石，鑽石，翠榴石及紅寶石“雛菊”胸針，GIMEL

The flowerhead, centering upon a pearl measuring approximately 9.2 x 8.9 mm, within the pavé-set diamond and pink diamond petals, on the reverse enhanced by a cabochon ruby ladybird, to the demantoid garnet leaves, mounted in platinum and 18k gold, 9.5 cm long

Signed Gimel HK$ 780,000 - 1,200,000

US$ 100,000 - 155,000 NT$ 2,964,000 - 4,560,000

202

202

A SOUTH SEA CULTURED PEARL AND DIAMOND NECKLACE 南洋養殖珍珠配鑽石項鍊

Composed of twenty-five cultured pearls measuring approximately from 15.9 to 18.9 mm, to the diamond-set openwork boule clasp, mounted in 18k gold, 46.0 cm long HK$ 340,000 - 420,000

Ravenel 78

US$ 43,000 54,000 NT$ 1,292,000 - 1,596,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

203

203

A JADEITE AND DIAMOND PENDANT 緬甸天然翡翠配鑽石“吉祥”吊墜

The jadeite disc of very good translucency and bright green colour, carved in low relief with a dragon and two Chinese characters "ji xiang ", symbolising "May you have a propitious life ", to the brilliant-cut diamond surround and surmount, mounted in white gold, disc approximately 49.7 x 5.4 mm, 7.1 cm long

Accompanied by report no. KJ74861 dated 17 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the disc is natural colour jadeite jade (Type A) and no resin is detected HK$ 1,000,000 - 1,500,000

US$ 128,000 - 192,000 NT$ 3,800,000 - 5,700,000

204

204

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然紫羅蘭翡翠雙環配鑽石耳墜

Each set with a jadeite double hoop of high translucency and lavender colour, to a butterfly-shaped diamond surmount, suspended from a diamond-set hook, mounted in 18k pink gold, largest double hoop approximately 24.7 x 18.8 x 5.5 mm, 4.9 cm long Accompanied by report no. KJ76572.dated 15 October 2012 from the Hong Kong Jade & Stone Laboratory stating that the double hoop tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 520,000 - 620,000

Ravenel 80

US$ 67,000 80,000 NT$ 1,976,000 - 2,356,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

205

(enlarged)

205

A JADEITE AND DIAMOND BROOCH 緬甸天然翡翠長壽龜配鑽石胸針

Designed as a turtle with carved jadeite shell, head, limbs and tail, each of highly translucent brilliant emerald green material, to the reverse with pavé-set diamond stamach, mounted in 18k white gold, jadeite shell approximately 17.5 x 15.2 x 6.9 mm, 2.8 cm long

Accompanied by report no. SJ57248 dated 15 October 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon tested is natural colour jadeite jade (Type A) and no resin is detected HK$ 900,000 - 1,200,000

US$ 115,000 - 155,000 NT$ 3,420,000 - 4,560,000

206

207

A CONCH PEARL, CULTURED PEARL AND DIAMOND RING

206

天然海螺珍珠配鑽石及養殖珍珠戒指

Designed as a baroque conch pearl measuring approximately 13.1 x 13.4 x 10.7 mm, within the cultured pearl and faceted diamond bead frames, to the cultured pearl bifurcated shoulders, mounted in 18k white gold, ring size 6 1/4

HK$ 330,000 - 390,000

US$ 0,042,000 - 0,050,000 NT$ 1,254,000 - 1,482,000

A PAIR OF CONCH PEARL AND DIAMOND EAR PENDANTS

207

天然海螺珍珠配鑽石耳墜

Suspending a baroque conch pearl measuring approximately 17.0 x 12.7 x 12.8 and 18.2 x 12.2 x 13.2 mm, to the triangular-shaped and brilliant-cut diamond cap, enhanced by a line of two triangular-shaped diamond pentagonal surmounts each centering upon an ovoid conch pearl, mounted in white gold, 4.8 cm long

HK$ 630,000 - 700,000

Ravenel 82

US$ 0,081,000 - 0,090,000 NT$ 2,394,000 - 2,660,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

208

208

A PAIR OF DIAMOND EAR PENDANTS, BY WILLIAM GOLDBERG 梨形，欖尖形，橢圓形及圓形D-F/SI1-SI2鑽石耳墜，附GIA證書，WILLIAM GOLDBERG

Each designed as a marquise-cut diamond top within a brilliant-cut diamond cluster surround, enhanced by a brilliant-cut diamond spacer, to a similarly-set surmount suspending three vari-cut diamond tassels, mounted in platinum, 7.4 cm long

Signed William Goldberg, no. E2690 Accompanied by twenty-three reports dated from 4 June 2008 to 6 December 2010 from the Gemological Institute of America with the following details: Report

Weight

Colour

Clarity

Cut

Report

Weight

Colour

Clarity

Cut Marquise

17245938

2.11

F

SI1

Oval

1116984766

1.03

E

SI1

1122799146

2.01

E

SI2

Oval

5121804173

1.03

F

SI2

Pear

2121715785

1.80

F

SI1

Marquise

2121159904

1.01

D

SI1

Marquise

17423179

1.52

E

SI1

Pear

2121850130

1.01

D

SI1

Pear

1109840099

1.52

F

SI2

Pear

1119499386

1.01

E

SI1

Marquise

2121502294

1.51

F

SI1

Marquise

1112818403

1.01

F

SI1

Pear

2106816047

1.27

D

SI1

Marquise

2125670606

1.00

E

SI2

Marquise

5121644517

1.13

E

SI1

Marquise

5116600249

1.00

E

SI1

Pear

5121532225

1.13

F

SI1

Marquise

6127850128

1.00

F

SI2

Pear

2111721661

1.11

F

SI1

Marquise

5116556799

1.00

F

SI1

Pear

1122856440

1.06

E

SI2

Pear

6111682632

0.70

F

SI1

Brilliant

2121299853

1.05

F

SI1

Pear

HK$ 1,500,000 - 2,000,000

Ravenel 84

US$ 192,000 - 256,000 NT$ 5,700,000 - 7,600,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

209

209

A SUITE OF RUBY AND DIAMOND JEWELLERY 5.02，4.04與3.07克拉心形緬甸天然紅寶石配鑽石項鍊及耳墜套裝，附GRS證書

Comprising a pendant necklace, set with a heart-shaped ruby weighing 5.02 carats, to the ruby and diamond cluster surround and surmount, suspended from the alternately-set vari-cut ruby and diamond neckchain; and a pair of ear pendants en suite, each set with a heart-shaped ruby weighing 3.07 and 4.04 carats; mounted in platinum, necklace 52.0 cm long, ear pendants 4.5 cm long

Accompanied by report no. GRS2012-091130 dated 7 September 2012 from the Gem Research Swiss Lab stating that thirty-seven rubies are of Burmese origin, red to vivid red colour (GRS type "pigeon's blood") and with no indication of thermal treatment Accompanied by report no. GRS2012-091131 dated 7 September 2012 from the Gem Research Swiss Lab stating that eighteen rubies are of Burmese origin, vivid red colour (GRS type "pigeon's blood") and with no indication of thermal treatment

HK$ 3,800,000 - 4,500,000

Ravenel 86

US$ 487,000 577,000 NT$ 14,440,000 - 17,100,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

210

210

A SET OF SAPPHIRE AND DIAMOND JEWELLERY 緬甸天然蛋面藍寶石配鑽石戒指及耳墜套裝，附GIA證書

Comprising a ring, set with an oval cabochon sapphire weighing approximately 15.14 carats, to the pear-shaped diamond cluster surround enhanced by circular-cut sapphires; and a pair of ear pendants en suite, each centering upon an oval cabochon sapphire weighing a total of approximately 18.42 carats, mounted in white gold, ring size 5, ear pendants 4.5 cm long

Accompanied by report no. 1147206469 dated 26 October 2012 from Gemological Institute of America stating that the 15.14 carat cabochon sapphire is of Burmese origin and with no indications of heating Accompanied by report no. 6142206481 dated 26 October 2012 from Gemological Institute of America stating that two cabochon sapphires weighing a total of 18.42 carats are of Burmese origin and with no indication of heating Both certificates with comments stating that the colour appearance of these three cabochon sapphires is described in the trade as "Royal Blue". The sapphire in a ring having a client stated weight of 15.14 carats and the sapphires in earrings having a client stated total weight of 18.42 carats are a wonderful example of the classic Royal Blue colouration. This is made ever more significant in the knowledge that man has not sought to improve upon nature's great gift and the colour of these sapphires remains as nature truly intended. Indeed these gemstones speak volumes when they come to representing the aura that surrounds that unstoppable combination of great rarity and beauty... A Burmese origin is typically considered one of the finest pedigrees for sapphires. The sapphires described in GIA Report number 1147206469 and 6142206481 hail from this magical and wondrous part of the world.

HK$ 1,850,000 - 2,300,000

Ravenel 88

US$ 237,000 - 295,000 NT$ 7,030,000 - 8,740,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

211

211

A JADEITE AND DIAMOND PENDANT 緬甸天然翡翠蛋面配鑽石吊墜

Set with an oval jadeite cabochon of bright emerald green colour and good translucency, within a brilliant-cut diamond surround, to the rose-cut diamond fringes and surmount, mounted in 18k white gold, cabochon approximately 22.3 x 17.2 x 8.7 mm, 4.5 cm long

Accompanied by report no. KJ74862 dated 17 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,200,000 - 1,500,000

Ravenel 90

US$ 154,000 - 192,000 NT$ 4,560,000 - 5,700,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

212

212

A JADEITE AND DIAMOND RING 緬甸天然翡翠馬鞍面配鑽石戒指

The jadeite saddle top of high translucency and vivid emerald green colour, to the pavé-set diamond borders and shoulders, mounted in white gold, saddle top approximately 20.3 x 9.1 x 3.7 mm, ring size 8

Accompanied by report no. KJ74866 dated 17 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the saddle top is natural colour jadeite jade (Type A) and no resin is detected

HK$ 550,000 - 750,000

US$ 70,500 96,000 NT$ 2,090,000 - 2,850,000

213

213

A JADEITE AND DIAMOND RING 緬甸天然翡翠蛋面配鑽石戒指

Set with an oval jadeite cabochon of good translucency and even emerald green colour, to the brilliant-cut diamond surround and bifurcated shoulders, mounted in 18k white gold, cabochon approximately 22.9 x 18.2 x 10.2 mm, ring size 6

Accompanied by report no. KJ74865 dated 17 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the cabochon is natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,300,000 - 1,800,000

Ravenel 92

US$ 167,000 - 230,000 NT$ 4,940,000 - 6,840,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

214

214

A SET OF JADEITE AND DIAMOND JEWELLERY 緬甸天然翡翠蛋面配鑽石戒指及耳環套裝

Comprising a ring, set with an oval jadeite cabochon of brilliant green colour and very good translucency, to the tapered baguette-cut diamond ballerina surround; and a pair of ear clips en suite, mounted in 18k gold, largest cabochon approximately 18.7 x 12.4 x 6.2 mm, ring size 5 1/2, ear clips 2.0 cm long

Accompanied by report nos. KJ73597, KJ73598 and KJ73599 dated 7 June 2012 from the Hong Kong Jade & Stone Laboratory stating that three cabochons are natural colour jadeite jade (Type A) and no resin is detected

HK$ 2,500,000 - 3,500,000

US$ 320,500 449,000 NT$ 9,500,000 - 13,300,000

215

216

215

A DIAMOND RING 5.02克拉圓形E/VVS1（極優切割，打磨及比例）鑽石戒指，附GIA證書

Set with a brilliant-cut diamond weighing 5.02 carats, to an 18k white gold band (illustrated as unmounted), ring size 6 1/2

Accompanied by report no. 2141066297 dated 1 December 2011 from the Gemological Institute of America stating that the diamond is E colour, VVS1 clarity, with excellent cut, polish and symmetry

HK$ 3,150,000 - 3,400,000

216

US$ 404,000 436,000 NT$ 11,970,000 - 12,920,000

A DIAMOND RING 7.49克拉長方形F/VVS2鑽石戒指，附GIA證書

Set with a emerald-cut diamond weighing 7.49 carats, to an 18k white gold band (illustrated as unmounted), ring size 6 1/2

Accompanied by report no. 6147646223 dated 30 April 2012 from the Gemological Institute of America stating that the diamond is F colour, VVS2 clarity

HK$ 2,950,000 - 3,200,000

Ravenel 94

US$ 378,000 410,000 NT$ 11,210,000 - 12,160,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

217

217

A PAIR OF JADEITE BANGLES 一對緬甸天然翡翠“福祿壽”手鐲

Each cylindrical jadeite band of good translucency, suffused with bright green and bright russet colour to the celadon background, representing the rebus "good fortune, prosperity and longevity", inner diameters approximately 54.0 and 54.0 mm, widths approximately 8.1 and 8.3 mm, thicknesses approximately 8.3 and 8.6 mm

Accompanied by two report nos. KJ74656 and KJ74657 dated 12 July 2012 from the Hong Kong Jade & Stone Laboratory stating that both bangles are natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,800,000 - 2,500,000

Ravenel 96

US$ 230,000 - 320,000 NT$ 6,840,000 - 9,500,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

218

218

A JADEITE AND DIAMOND BEAD NECKLACE 緬甸天然翡翠珠鍊配鑽石

Comprising thirty-six jadeite beads of very good translucency and emerald green colour, measuring approximately from 11.6 to 15.9 mm, to the diamond-set 18k white gold boule clasp, 51.0 cm long

Accompanied by report no. KJ74660 dated 12 July 2012 from the Hong Kong Jade & Stone Laboratory stating that the bead tested is natural colour jadeite jade (Type A) and no resin is detected

HK$ 3,000,000 - 5,000,000

Ravenel 98

US$ 385,000 641,000 NT$ 11,400,000 - 19,000,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

219

220

219

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然翡翠圈配鑽石耳墜

Each set with a jadeite disc of high translucency and brilliant emerald green colour, to the diamond-set line surmount enhanced by marquise-cut diamonds, suspended from a diamond collet top, mounted in 18k white gold, largest disc approximately 21.2 x 4.5 mm, 4.6 cm long

Accompanied by report nos. KJ74856 and KJ74857 dated 17 July 2012 from the Hong Kong Jade & Stone Laboratory stating that both disks are natural colour jadeite jade (Type A) and no resin is detected

HK$ 1,200,000 - 1,800,000

220

US$ 154,000 - 230,000 NT$ 4,560,000 - 6,840,000

A JADEITE AND DIAMOND PENDANT 緬甸天然翡翠懷古配鑽石吊墜

Set with a jadeite huaigu of bright emerald green colour and very good translucency, enhanced by diamond collet center, mounted in 18k white gold, huaigu approximately 25.0 x 2.6 mm, 3.3 cm long

Accompanied by report no. SJ55770 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that the huaigu is natural colour jadeite jade (Type A) and no resin is detected

HK$ 180,000 - 200,000

US$ 23,000 - 26,000 NT$ 684,000 - 760,000

221

221

A JADEITE AND DIAMOND PENDANT NECKLACE 緬甸天然翡翠福豆配鑽石吊墜項鍊

The pendant, set with a jadeite peapod of glassy material and vivid emerald green colour, to the diamond-set frame suspended from a pear-shaped diamond surmount and black cord, mounted in 18k white gold, peapod approximately 41.4 x 13.9 x 7.3 mm, pendant 5.5 cm long

Accompanied by report no. KJ76571 dated 15 October 2012 from the Hong Kong Jade & Stone Laboratory stating that the peapod is natural colour jadeite jade (Type A) and no resin is detected

HK$ 3,300,000 - 3,800,000

Ravenel 100

US$ 423,000 487,000 NT$ 12,540,000 - 14,440,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

222

222

A PAIR OF JADEITE AND DIAMOND EAR PENDANTS 緬甸天然翡翠如意配鑽石耳墜

Each set with a carved jadeite ruyi of excellent translucency and brilliant emerald green colour, to the diamond collet line surmount and top, mounted in 18k white gold, ruyi approximately 25.0 x 20.0 x 5.2 and 24.9 x 20.2 x 5.3 mm, 5.1 cm long

Accompanied by report nos. KJ76242 and KJ76243 dated 19 September 2012 from the Hong Kong Jade & Stone Laboratory stating that both ruyi are natural colour jadeite jade (Type A) and no resin is detected

HK$ 3,200,000 - 4,500,000

Ravenel 102

US$ 410,000 577,000 NT$ 12,160,000 - 17,100,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

Ravenel 104

Fine Jewels and Jadeite Hong Kong 25 November 2012

223

223

A PAIR OF EMERALD AND DIAMOND EAR PENDANTS 7.62與8.37克拉哥倫比亞祖母綠配鑽石耳墜，附Gübelin證書

Each set with a pear-shaped emerald weighing 7.62 and 8.37 carats, to the diamond-set border and gallery, suspended from a vari-cut diamond line surmount and similarly-set top, mounted in 18k white gold, 5.9 cm long

Accompanied by two report nos. 0910071 and 0910073 dated 9 October 2009 from the Gübelin Gemmological Laboratory stating that both the 7.62 and 8.37 carat emeralds are of Colombian origin and with indications of minor clarity enhancement

HK$ 1,250,000 - 1,600,000

US$ 160,000 - 205,000 NT$ 4,750,000 - 6,080,000

Toi Et Moi Ring

TOI ET MOI RING Toi et Moi ring or the "You and Me� ring, was once prevalent in the late Victorian and Edwardian period. This particular style of ring has bounced back into fashion over the last few years since Sandra Bullock was presented with an octagonal diamond platinum Toi et Moi ring by Jesse James in 2005.

The "You and Me" rings were originally designed purely for the purpose of romance - an engagement ring. Although the design may vary, all "You and Me" rings have one trait in common - two stones setting opposite one another. The two stones may be matching or different, or even surrounded by other gemstones, but at least one diamond must be present.

In this Hong Kong autumn sale, Ravenel is proud to offer a stunning Toi et Moi ring (lot 224) of two exceptional VVS1 and internally flawless 2.33 carat fancy intense pink and 2.07 carat fancy intense blue diamonds. Pink and blue diamonds are amongst the most highly prized gems in the world because of their rarity. Coloured diamonds usually come in less than a carat size and are typically included. Both fancy coloured diamonds in Lot 224 are extremely rare find not only for their sizes but also for their loupe clean clarity grade. The design of the ring offered in this sale was inspired by the original meaning of the Toi et Moi ring. The colour with the same intensity of pink and blue hues harmonised perfectly with each other; both the pear shapes represent two halves of a heart symbolising the unity of "You and Me"; and the infinity design of the oval-shaped diamonds encircled both the pink and blue express eternal and everlasting love. With its rarity, this ring portraying the romance in the air will be a true treasure to acquire and to be cherished forever.

Ravenel 106

Fine Jewels and Jadeite Hong Kong 25 November 2012

你與我 「Toi et Moi」 (中譯：你與我)的戒指早先風靡盛行於英國維多利亞晚期與愛德華時期。影星珊卓布拉克2005年戴上與傑西詹姆士的定情戒就是 「Toi et Moi」，這獨特非凡的戒指更因此重返回時尚圈這流行舞台。 「你與我」的戒指最初單純設計靈感為一只羅曼蒂克的定情戒，含蘊彼此無可言喻的應許。雖然每件樣式或許有所差別：有的戒指兩顆主石不一 定為相同；有的環繞不同的寶石綴飾；但不變的是兩顆寶石主體交疊，其中一顆必定是鑽石；這樣的精心設計才能稱上為「Toi et Moi」戒指。 羅芙奧香港2012秋季珠寶首拍，lot 224，此款名為「你與我」的戒指，兩顆主石彩鑽分別為2.33克拉VVS1濃彩粉紅鑽石及2.07克拉內部無瑕濃 彩藍色鑽石。粉紅色及藍色鑽石在國際市場一直是買家競相爭奪的拍品。高色度的濃彩鑽石對上幾乎無瑕的淨度，對收藏家而言，更是伯樂之合 的稀世佳作。 設計師以兩顆彩鑽色感相互交融，以「∞」象徵無限的符號線條勾勒，注入安適、穩定、恬靜氣息的瑰麗藝術品。雙雙對對的梨形彩鑽代表心心 相印的兩邊，缺一不可，你儂我儂，生生世世，天長地久。此件「Toi et Moi」戒指拍品所呈現的浪漫情懷與彌足珍貴，代表著永恆久遠，絕對 是您值得永久珍藏。

224

(enlarged)

224

A COLOURED DIAMOND AND DIAMOND "TOI ET MOI" RING, BY MICHAEL YOUSSOUFIAN 2.07克拉梨形濃彩藍色內部無瑕鑽石及2.33克拉梨形濃彩粉紅色VVS1鑽石戒指，附GIA證書，MICHAEL YOUSSOUFIAN

The pear-shaped fancy intense blue and fancy intense pink diamonds weighing 2.07 and 2.33 carats respectively, within the oval-shaped diamond intertwined surround symbolising "infinity", to the circular-cut diamond gallery and hoop, mounted in platinum, ring size 8

With jeweller's mark for Michael Youssoufian Accompanied by report no. 10239058 dated 29 January 1998 from the Gemological Institute of America stating that the 2.07 carat diamond is fancy intense blue, natural colour, internally flawless clarity Accompanied by report no. 8669092 dated 23 October 1995 from the Gemological Institute of America stating that the 2.33 carat diamond is fancy intense pink, natural colour, VVS1 clarity

HK$ 17,200,000 - 19,500,000

Ravenel 108

US$ 2,200,000 - 2,500,000 NT$ 65,360,000 - 74,100,000

Fine Jewels and Jadeite Hong Kong 25 November 2012

CONVERSION CHART RING SIZE American

French/Japanese

Metric

½

__

37.8252

¾

__

38.4237

1

__

39.0222

1¼

__

39.6207

1½

__

40.2192

1¾

__

40.8177

2

1

41.4162

2¼

2

42.0147

2½

__

42.6132

2¾

3

43.2117

3

4

43.8102

3¼

__

44.4087

3¼

5

45.0072

3½

__

45.6057

3¾

6

46.2042

4

__

46.8027

4¼

7

47.4012

4½

8

47.9997

4¾

__

48.5982

5

9

49.1967

5¼

10

49.7952

5½

__

50.3937

5¾

11

50.9922

6

__

51.5907

6¼

12

52.1892

6½

13

52.7877

6¾

__

53.4660

7

14

54.1044

7

15

54.7428

7¼

__

55.3812

7½

16

56.0196

7¾

__

56.6580

8

17

57.2964

8¼

18

57.9348

8½

__

58.5732

8¾

19

59.2116

9

20

59.8500

9¼

_

60.4884

9½

21

61.1268

9¾

22

61.7652

10

__

62.4026

10¼

23

63.0420

10½

24

63.6804

10¾

__

64.3188

11

25

64.8774

11¼

__

65.4759

11½

26

66.0744

11¾

__

66.6729

12

__

67.2714

12¼

__

67.8699

12½

__

68.4684

111

INDEX

Biographies

A

Audemars Piguet

Audemars Piguet 119

C Chanel 194, 195, 196, 197 Cartier 126

D Dilys’ Collection 122

G Gimel 199, 200, 201 Gϋbelin 178

J Judy Chao 162, 166

M Mauboussin 167 Michael Youssoufian 120, 121, 123, 129, 135, 157, 158, 160, 161, 173, 184, 224

W

Audemars Piguet started in 1874, when Jules Louis Audemars met Edward Auguste Piguet in their early twenties, both born in Le Brassus and went to Vallée de Joux to start working together in watch manufacturing. Audemars started producing component parts for movements and Piguet got the job of a repasseur, maker of the final regulation of the timepiece. In 1875, they founded a firm later known as Audemars Piguet et Cie. Since 1882, members of the Audemars and Piguet families have always been on the board of directors and have, therefore, directly or indirectly run the company. The business started with Audemars managing the production and technical part, and Piguet focusing on sales. The Audemars Piguet trademark was registered in 1882 and was officially founded in 1889, where they opened their first branch in Geneva. At this point, Audemars Piguet et Cie became one of the largest employers for watch making in the whole of Vaud, southwestern Switzerland. Between 1894 and 1899, the company produced about 1,200 timepieces, including some very complex watches. When Audemars and Piguet died, in 1918 and 1919 respectively, the company steadily grew and became more famous.

Chanel Gabrielle Chanel founded The House of Chanel and her first boutique in 1910; called ‘Chanel Modes’ at 21 rue Cambon in Paris. In 1921 she launched N°5, the first perfume of a couturier. Chanel presented her first and unique ‘Diamond Jewellery’ collection made entirely in platinum and diamonds, in 1932, at her Paris mansion. In 1987, the company launched their first collection of watches, followed by the creation of the ‘Haute Joaillerie’ line in 1993, and with the inspiration of Coco Chanel the collection is constantly renewed with creativity

Wilds 156, 163 William Goldberg 208 William Ruser 172

112

Cartier

In 1847, Louis-François founded Cartier, but it was his three grandsons, Louis, Pierre and Jacques, who made the ‘Cartier’ brand, a worldwide famous empire. Louis became responsible for the Paris branch, moving it to the rue de la Paix in 1899. Jacques took charge of the London operation in 1906, which had opened in 1902, eventually moving to the current location on New Bond Street.

Pierre established the New York branch in 1909, relocating it in 1917 to the current location at 653 Fifth Avenue. Branches were opened in Moscow and the Persian Gulf in 1910, followed by openings in Cannes and Monte Carlo. Charles Jacqueau, who became one of the most outstanding amongst Cartier’s gifted team, joined Louis Cartier in 1909.

In 1933, Jeanne Toussaint was appointed to become Director of Fine Jewellery. After the death of Pierre, in 1964, the family sold their Paris, London and New York shops. A group of investors led by Joseph Kanoui bought Cartier Paris, in 1972. Robert Hocq became the president, originator of the concept “Les Must de Cartier” in collaboration with Alain Dominique Pierrin. Cartier brought back London in 1974 and in 1976, Cartier New York was also brought back. In 1983, Eric Nussbaum initiated the “Art of Cartier Collection”.

Currently, Cartier is part of the Richemont group.

Dilys' Collection Dilys’ Collection was established in 1991, with every handcrafted piece designed by creator Dilys Young, winning the admiration of connoisseurs with its signature style – the rich yet subtle play of colour and vivid interpretations of flora and fauna in sculptural forms. Dilys began her career by developing new and trendy designs for natural rare gemstones removed from old settings, when some the go out of style. In the 1990s, while the jewellery market was still dominated by colourless diamonds, Dilys started using diamonds in brown, champagne and black in her innovative designs. With their technical expertise and master jewellery artisans in the company’s exclusive workshop in Hong Kong, Dilys incorporates many innovative techniques developed in-house in the production of her exclusive designs. Her aspiration is to build “Dilys’ Collection” into an international luxury jewellery brand with its collection entirely made in Hong Kong.

Gϋbelin

Michael Youssoufian

Wilds

Gϋbelin was founded 1854 and has always been a family enterprise. Located in Lucerne, Switzerland, they have created superior quality watches and clocks for more than one hundred years. The collaboration with New York jeweller, Edmond Frisch led the company to create jewelled watches and jewellery.

Currently, Gϋbelin has salons throughout Europe.

Michael Youssoufian, a brand founded by Michael himself, comes from a very long tradition in jewellery business. His Grandfather was the personal jeweller to the Royal Court of Egypt, the Royal Highness King Fouad and later King Farouk. In 1956, when King Fouad was abdicated, the new rulers of Egypt confiscated the shop. Though Michael’s father Alfred, stayed in Egypt for a few years, he made frequent trips to London where he found his opportunity there and eventually left Egypt for good. In 1962, Alfred Youssoufian decided to open a shop in Geneva, Switzerland and later two other shops in Capriand and Rome of Italy. The latter two shops were sold in 1980. But the shop in Geneva is still operated

by Alfred.

Founded in 2000, H.H. Gems Co. Ltd. created the brand “Wilds” to celebrate their company’s 10th Anniversary. In its drive for quality perfection, and with some of the world’s rarest colored gemstones, Wilds creates designoriented pieces of timeless appeal that capture the beauty of the gemstones for eternity.

Wilds jewelry pieces are family treasures that reflect the investment value of top-end colored gemstones. Supported by the ample supply of the best-cut gemstones in exuberant colors and the artistry of the highly skilled craftsmen, Wilds has developed unparalleled know-how and expertise for its own creations and established its signature styles. By collaborating with creative designers from around the world, Wilds creates upscale jewelry designs synthesizing diverse cultural roots and unique aesthetic styles, achieving a goal coveted by the top jewelry business.

Judy Chao Judy Chao began designing her own line of bespoke tailor-made jewellery in 1992. At the time, the jewellery was solely made upon the request of friends and family. It wasn’t until 4 years later, that Chao established her own boutique in Taipei City and opened her jewellery designs to the public. Carving out the path in jewellery design came naturally to Chao, who stemmed from three generations of bespoke jewellery designers. Focusing on the latest fashion trends, Chao tries to incorporate her knowledge in the art of jewellery to everyday life, making her tailor–made jewellery easy to wear for her clients.

Mauboussin Founded in 1827, M. Rocher and his cousin Jean-Baptiste Noury established a jewellery shop in Paris, which, by 1850, Noury had taken over the business. His nephew, Georges Mauboussin joined the firm and assumed control in 1896. ‘Mauboussin, Successeur de Noury’ was later changed to simply ‘Mauboussin.’ The House of Mauboussin was offered a medal in 1878 for its solid recognition of French jewellery. The House of Mauboussin also contributed to all major international exhibitions, organising 3 exhibitions with 3 different themes: 1928 emerald, 1930 ruby and 1931 diamond. The jury awarded the Grand Prix to The House of Mauboussin during the Exposition des Arts Decoratifs in Paris. In October 1929, they opened an office in New York, but following the stock market crash less than one month later, a merger was negotiated with the American jeweller, Trabert & Hoeffer. The location, stock and all the jewellry retailed under their name were signed over to Trabert & Hoeffer Inc.– Mauboussin.

This agreement lasted until the 1950s. A Swiss businessman, named Dominique Frémont acquired the majority of the firm, with Patrick Mauboussin remaining involved with the creation of the jewellery.

William Ruser In 1947, after his tour of duty in World War II, William Ruser and his wife opened a boutique on Rodeo drive in Beverly Hills, CA. While maintaining an elegant inventory of important diamond jewellry and fine gem-set jewels, he specialized in important pieces designed around his marvelous collection of unusually shaped and carefully selected freshwater pearls. Larger baroque pearls were set in rings and smaller pearls were circled with diamonds or set in sculpted gold of subtle floral design. He even fabricated flowers of pink petals as brooches and earrings. Though he quickly became sought after for his wonderful sculptural pieces featuring pavė-set diamonds and gemstones, he also crafted incredible pieces using those American freshwater pearls. In 1969, William Ruser retired and sold his establishment to Van Cleef & Arpels, which still occupies the same spot. From time to time, Ruser’s beguiling little jewels appear at auction or in antique shops, where discerning collectors quickly snaps them up.

Not only do they evoke the optimism of the 1950s and 1960s, their imaginative use of natural freshwater pearls makes each one unique and irreplaceable.

113

William Goldberg Goldberg was born December 22, 1925 in Brooklyn, New York City. He started cutting diamonds in 1948, but found that his aptitude lay with buying and selling diamonds rather than cutting them. In 1952 he founded Goldberg & Weiss with diamond cutter Irving Weiss. In 1973 he formed the William Goldberg Diamond Corporation, located on 48th Street in New York City’s Diamond District.

In 1978 he became president of the New York Diamond Dealers Club and served three terms. He had traded well-known diamonds including the Queen of Holland diamond, the Premier Rose diamond, the Red Shield diamond and the Pumpkin diamond. He died of pancreatic cancer on October 20, 2003, aged 77. Following his death, members of Goldberg’s family created the William Goldberg Endowed Scholarship Fund at the Gemological Institute of America.

Transaction Agreement

The following provisions are entered into by and between the Company, as the auctioneer, and the Seller (hereinafter the “Seller”). This Agreement is also entered into by and between the Company as the agent of the Seller and the Buyer (hereinafter the “Buyer”). Both the Buyer and the Seller must carefully review all provisions hereunder. The Buyer should pay special attention to Article 5 which provides limitations as to the legal responsibilities of the Company.

I. The Buyer 1. Ravenel as the Agent The Company, as the auctioning party, shall act as the agent of the Seller. Except otherwise provided, items successfully sold in the auction held by the Company shall be bound by the agreement made by and between the Seller, through the agency of the Company, and the Buyer.

2. Prior to the auction a. Authentication We strongly recommend that the prospective buyers conduct their own authentication for the items they are interested in bidding prior to the auction. We provide no guarantees to the buyer (with the exception of the guarantee with regard to counterfeits as defined in Section III of the Transaction Agreement). b. Important Notice Attention, prospective buyers: As far as possible, the descriptions of auction items will mention obvious defects of the items; however, they do not necessarily include all flaws, defects, or incomplete aspects. The Company regrets that it is unable to guarantee that the wristwatches on auction are in good working condition and the descriptions in the catalogue must not be construed as implying such. The description of the auction items also do not imply that the items have not gone through readjustment or repair or allude anything about the current state or storage conditions of the items. Any omission in the catalogue description regarding the current condition or the appraisal of defects in the items by no means represent that those items are in good condition, function normally, or that there will be any free repair or replacement of parts. We strongly recommend prospective buyers to personally view the items for which they plan to bid before the auction itself. If a prospective buyer is unable to view an item for whatever reason, then in our role as a service provider, we would be more than happy to offer our opinion of an item’s special characteristics and current condition. However, the Company is not a professional restorer of wristwatches; therefore, any description in the catalogue is purely the Company’s subjective opinion and not a statement of fact.

Please note: The outer shells of many of the water-resistant watches have been opened in order to investigate their working condition and their type; therefore, it must not be assumed that they are currently water-resistant. We recommend buyers to have such watches checked by a competent watchmaker before use.

Please note: The restoration of the items on auction may have resulted in original parts being replaced; therefore, we are unable to guarantee that any given watch’s parts are from the original set of parts.

All of the items on auction are being sold in “as is” condition.the Company does not provide any representation or guarantee as to the condition of any of the items. Unless otherwise stated, the Company does not provide any warranty with the items. c. Symbol Key The following key explains the symbol you may see inside this catalogue.

Premium Lot In order to bid on “Premium Lots” the Buyer must complete the required pre-registration application and deliver to Ravenel such necessary financial references, guarantees, deposits and / or such other security as Ravenel’s may in its absolute discretion require for your bid. Ravenel decision whether to accept any preregistration application shall be final. We recommend you complete and return the Lot pre-registration form in this catalogue in the manner required therein or contact Ravenel at least 5 working days prior to the relevant sale in order to process the pre-registration. Please bear in mind that we are unable to obtain financial references over weekends or public holidays. Ravenel will provide a special paddle number for the register of “Premium Lot”.

Endangered Species Property made of or incorporating endangered and other protected species of wildlife are marked in the catalogue with a symbol ( ) next to the title of the said lot. Such materials include coral, ivory, tortoiseshell, crocodile skin, rhinoceros horn, whalebone, etc. Clients should be aware that some countries prohibit altogether the importation of property containing such materials, and that other countries may require a licence or certificate (e.g. a CITES permit) in the countries of exportation as well as importation. For example, the United State prohibits the importation of elephant ivory that is less than 100 years old. Ravenel suggests that clients check with their own government regarding wildlife import requirement prior to placing a bid. Please note that it is client’s responsibility to obtain any licences and/or certificates as well as other required documentation applying to the importation or exportation of the property containing endangered and other protected wildlife materials. The inability of a client to import or export such property is not a basis for cancellation or rescission of the sale. ○ Guaranteed Property The Seller of the Lots with this symbol next to the Lot number has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by the Company, by a third party or jointly by the Company and a third party. A guarantee may be in the form of an irrevocable bid provided by a third party. Third parties providing or participating in a guarantee may benefit financially if a guaranteed Lot is sold successfully and may incur a loss if the sale is not successful. If third parties providing or participating in a guarantee is the successful bidder for the guaranteed Lot, they should be required to pay the full service fee. d. Reserve All the lots in this catalogue are offered subject to a reserve, which is the confidential minimum price established between Ravenel and the seller and below which the lot will not be sold. The reserve will not exceed the low estimate for the lot. If any lots are offered without a reserve, these lots will be identified with the red title, and a Special Note will be included to this effect. e. Catalogue Explanations Any statement of the author, history, date, year, size, material, ownership, authenticity, origin, condition of preservation or estimated selling price of any of the Lots shown in the catalogue or the authentication opinion made by the Company, or any other verbal or written statements made separately shall be solely statements of opinions and shall not be deemed the basis for the statements of actual fact. The photographs shown in the catalogue shall serve as reference

only and shall not be deemed as the basis for determining the color or tone of any Lots or disclosure of the defects of such item. The estimates of the auction price shall not be deemed the price at which such item will be successfully sold or the statement of the value of the item for other purposes.

Many auction items fail to maintain their perfect condition because of time and other environmental factors. Some of the explanations in the catalogue or the authentication opinions will state defects and/or the repair background of the Lots. Such information is meant for reference only. Missing information in the statements does not mean the Lot has no defects or has not been repaired. Any statement of one particular defect does not mean there is no any other defect. f. Responsibility of the Buyer The Buyer is responsible for clarifying and satisfying himself about the condition of the items and any related matters stated in the catalogue descriptions.

3. In the auction a. Refusal of Admission The auction is held at the premises of the Company or any location where the Company has control of for the auction. The Company has full discretion to exercise the right to refuse entry to the premises for the auction or to prevent participation in the auction. b. Registration Prior to the Bidding Prospective buyers must fill in and sign the registration forms prior to the bidding and provide personal identification. Prospective buyers should also note that the Company may be requested to conduct credit checks against buyers. c. The Bidder is the Buyer Unless a written agreement has been made upon registration that the bidder will be the agent who acts on behalf of a third person and such third person is accepted by the Company, the bidder will be deemed as the Buyer who will bear individual legal responsibilities. d. Bid by Phone The Company will make proper effort to contact the bidder so he can participate in the auction by phone if the prospective buyer make arrangements with the Company prior to the auction. However, the Company will bear no responsibilities to the Seller or any prospective buyer if no contact is made under any circumstances. e. Online Bids via LiveAuctioneers If the bidder cannot attend the auction, it may be possible to bid online via LiveAuctioneers for selected Lots. This service is free and confidential. For information about registering to bid via LiveAuctioneers, please refer to ravenel.com.

Bidders using the LiveAuctioneers service are subject to the additional terms and conditions for online bidding via LiveAuctioneers, which can be viewed at ravenel.com. f. Exchange Rate Conversion Board There will be an exchange rate conversion board operating at some auctions.

The exchange rate is calculated at the exchange rate of the one-month future goods reported to the Company from the bank when starting business on the day of the auction. Nonetheless, the auction will still be conducted in HK dollars.

The exchange rate conversion board is not absolutely reliable. The accuracy of either the Lot numbering shown on the board or the equivalent of the bid price in any foreign currency is not within the control of the Company. The Company will not be responsible for any losses caused by the reliance of the Buyer on the exchange rate conversion board. g. Recorded Images There is image projection in some auctions; however, errors may occur during the operation. The Company is not liable for the color accuracy of the reproduced image and whether the projected image corresponds to the item being auctioned. h. Determining Power of the Auctioneer The auctioneer has the absolute power to reject any bid, push for bids at his discretion, withdraw any auction items, separate or combine two or more auction items, and if there is any error or dispute, re-auction the items. i. Successful Bids Under the discretion of the auctioneer, the fall of the hammer indicates the acceptance of the highest bid price, i.e., the Seller and the Buyer enter into a successful auction agreement.

4. Following the auction a. The service fee of each lot payable by the Buyer (1) The Buyer should pay the hammer price and, in addition, the service fee to the Company. For hammer price below HK$ 8,000,000 (inclusive), the service fee should be calculated at 20% of the hammer price.

(2) For hammer price higher than HK$ 8,000,000, the first HK$ 8,000,000 should be calculated at 20% and the rest of the amount should be 12%. b. Taxes All the payments payable by the Buyer to the Company do not include any government tax, any commodity or service taxes or any other value added taxes.

The Buyer should be responsible for paying any applicable taxes as required by the law. c. Payment The Buyer should provide his name and permanent address to the Company upon the successful bid. Relevant bank information should also be provided upon request. All payments due (including the hammer price, service fee and any applicable taxes) should be paid within 7 days following the auction date.

The aforesaid provision also applies if the Buyer intends to export the Lot and (may) need the export permit.

If the Buyer fails to pay to the Company all the payments due, the Buyer will not acquire the ownership of the Lot even if the Company has delivered such item to the Buyer. If the payment to Ravenel are made in any currency other than HK dollars, the Company will collect from the Buyer any foreign exchange expense incurred therefrom, including bank charges and foreign exchange service fees.

The exchange rate of the payments to the Company in any currency other than HK dollars should be the exchange rate reported by the Hongkong and Shanghai Banking Corporation (HSBC) to the Company on the auction date and should be based on the certificates issued by the Company according to such exchange rate. d. Collection of the Lot sold Unless otherwise agreed by the Company, the Company will hold temporarily the successfully sold Lots until all payments to the Company are made in full.

The Lot will be covered by the insurance of the Company from the auction date for 7 days during the temporary holding period. The insurance coverage will terminate upon collection of such item. The Buyer should be responsible for all risks following expiration of the said 7-day period or the collection (whichever is the earlier).

114

e. Packaging and transportation The Buyer is requested to note that he should bear all the risks upon expiration of the said 7 days period or from collection of such items. f. Referral of packaging or transportation companies The shipping department of the Company may act as the agent of the Buyer to arrange for delivery. Although we can refer freight forwarders upon special request, the Company will not be held liable for any legal responsibilities in this regard. g. Remedies for non-payment or non-collection of items sold The Company is entitled to exercise one or more of the following rights or remedies if the Buyer fails to make payment within 7 days: (1) An interest at the annual rate of no higher than 10% plus the base interest rate of Hongkong and Shanghai Banking Corporation (HSBC) will be imposed on all of the payment due if payment is not made within 7 days following the auction date. Besides, we have the right of charging also 1% selling price (including of hammer price and the commission) multiplied by the number of delayed days as fine for the default. The payment to be made by the Buyer should offset any payment owed by the Company or its subsidiaries to the Buyer for any other transactions.

(2) To exercise lien of any items owned by the Buyer and held by the Company for any purpose. The Company may arrange to sell such items after serving a 14-day notice to the Buyer about his non-payment. The proceeds shall make up for the payment due.

(3) If the Buyer owes the Company several payments as a result of different transactions, the payments will setoff any payments due in any particular transaction, regardless of whether the Buyer specifies to setoff such payments.

(4) Refuse the Buyer to make, or to make on behalf of others, bids in any future auctions and/or to require a security deposit from the Buyer before accepting any future bids from him. If the Buyer fails to make payment within 35 days, the Company is entitled to exercise the following rights in addition to the aforementioned: (5) To bring legal proceedings against the Buyer on behalf of the Seller to claim the entire payment due and the legal fees resulting from such proceeding based on a total claim.

(6) Cancel the transaction of Lots bid by the Buyer or any other auction items sold to the Buyer at the same or any other auctions.

(7) To arrange a public or private re-sale of the Lot. If the re-selling price is lower, the difference will be claimed against the Buyer together with any cost incurred as a result of the non-payment by the Buyer. h. No collection of the Lot sold The Company will arrange for the storage of the Lot if such item sold is not collected within 7 days of the successful auction, regardless of payment. Such storage cost will be borne by the Buyer. Only when the storage, shipping, insurance cost and any other expenses together with any other payments due to the Company are paid can the sold Lot be collected. i. Export permit Except where otherwise agreed in writing by the Company, the fact that the Buyer’s wishes to apply for an export permit does not affect the Buyer’s responsibility to make the payments in 7 days; nor does it affect the Company’s right to impose interest on delayed payments.

If the Buyer requests that the Company applies for the export permit on his behalf, the Company is entitled to collect monies made in connection with such an application and any miscellaneous expenses together with any relevant value added taxes.

If the Buyer makes the payment regardless of the fact that an export permit is needed, the Company is not responsible for returning to the Buyer any interest or other expenses incurred therefrom.

5. The legal responsibility of the Company The Company is responsible for returning payment to the Buyer pursuant to Article Otherwise, whether the Buyer, the Company, any employees or agents of the Company will not be held liable for any statements of the author, history, date, year, ownership, authenticity or origin of any auction item or any errors with respect to any explanations and any flaws or defects of any auction item. The Buyer, the Company, the employees or the agents of the Company make no guarantee with respect to any auction items. Any warrantee of any kind shall not be included herein.

6. Return of payments for counterfeits The transaction will be cancelled and payments made will be returned to the Buyer if the Lot of the Company is confirmed to be a counterfeit. However, if: a. The catalogue explanations or the notice at the auction distributed on the auction day corresponds to the opinions generally accepted by the academic or professional fields; b. The method used to prove that the Lot is a counterfeit is a scientific procedure not generally accepted for use before the publication of the catalogue or a procedure unreasonably expensive on the day of the auction, or impractical, or may cause damage to the Lot; the Company is not liable for the return of any payment under any circumstances. In addition, the Buyer’s payment can only be refunded when the following terms are met: (1)The Buyer must notify the Company in writing within 10 days following the auction day that he considers the relevant auction item a counterfeit.The Buyer must return the Lot to the Company within the following 14 days and the condition of the item must be the same as on the auction day.

(2)Upon returning the Lot, the Buyer must present evidence as soon as possible to convince the Company that the Lot is a counterfeit. The Buyer may also assign the good ownership of the Lot to the Company, which shall not concern any third party claim.

Under no circumstances is it necessary for the Company to pay the Buyer an amount more than what the Buyer pays in connection with the Lot and the Buyer can not claim interests.

The interests of the warrantee cannot be assigned and belong solely to the Buyer who receives the original invoice from the Company when the Lot is sold. Such Buyers shall remain the owner of the auction Lot and cannot assign any interest of the Lot to any other person. The Company is entitled to ascertain that the Lot is not a counterfeit based on a scientific procedure or any other procedure, regardless of whether such procedure is being used on the day of the auction.

II. The Seller 1. Ravenel as the Agent The Company acts as the agent of the Seller at a public auction. The Closing Agreement of the Lot is the agreement by and between the Buyer and the Seller.

2. Expenses The Seller shall bear costs relating to the following: a. Packing of the Lot and shipping to the Company for the auction b. Any applicable shipping insurance c. The packaging and shipping if the item is delivered back to the Seller. Any applicable custom duties

115

d. Insured under the Company art relic insurance policy (explained in detail later) indicate cohere (we point below) e. Any repairs made to the Lot as per prior agreement with the Seller f. Authentication made by independent professionals which the Company believes to be necessary in preparing the catalogue explanations. g. Any independent professional opinions which the Company deems proper h. The storage of the Lot after the auction (if applicable) i. The administration cost of the Company reaches 10% of all the expenses incurred as a result of client services provided. j. Any marketing and promotional expenses 3. Insurance Coverage to be Arranged by the Company a. Unless otherwise agreed by the Company, the Lot will be automatically insured under the the Company art relic policy in the amount as deemed appropriate by the Company. However, the insured amount is not the amount the Company undertakes to be successfully reached during the auction. b. The Company will collect 1% of the hammer price from the Seller or 1% of the reserve price if the Lot is not successfully auctioned. If the shipping is arranged by the Company, an additional amount will be collected by the Company from the Seller as the shipping insurance. Such amount varies depending on the individual condition of each auction item. The Company will refer a freight forwarder if necessary. However, the Company is not responsible for any legal responsibilities incurred therefrom. c. The Lot will remain insured up to 7 days after the sale. If the Lot has not been sold, it will be at the Seller’s risk upon the expiry of 7 days. d. We are unable to accept responsibility for damage caused by woodworm or changes in atmospheric conditions.

4. Insurance Purchased by the Owner If the Seller instructs the Company specifically that it is unnecessary to purchase insurance for the Lot, the risks shall be borne entirely by the Seller until the Buyer makes all the payments. The Seller must indemnify the Company, the employees and agents of the Company and the Buyer (if applicable) any claims in connection with the auction against the Company, the employees and agents of the Company and the Buyer, regardless of the cause of such claim. The Buyer must also pay for the expenses incurred as a result of such claim if requested by the Company, the employees and agents of the Company and the Buyer, even if such expenses are made as a result of negligence by the Company, the employees and agents of the Company and the Buyer without proof of legal responsibility. The Seller must inform the underwriter of the Seller the provision herein.

5. Commitments Made by the Seller with Respect to the Lot The standards for the Company to handle the Lots are provided hereunder. These standards also limit the relationship between the Seller and Buyer. In the event such standards are incorrect in any aspect, the Company or the Buyer may bring legal actions against the Seller.

The Company should base the purchase and handling of auction items on the following undertaking made by the Seller: a. The Seller is the only owner of the Lot and has the unlimited right to assign his ownership to the Buyer which should not concern any third party right or claim (including copyright claims). b. The Seller complies with all the laws in connection with the import and export of auction items and any other laws and has notified the Company in writing any failure to comply with such rules in the past. c. The Seller has notified the Company in writing of any major modifications in the Lot to the best of his knowledge and any concern the third party has raised with respect to the ownership of the Lot and the condition.

In the event of any inaccuracy of the above a, b and c, the Seller must guarantee, if requested, to identify fully the Company and/or the Buyer all the claims, costs and expenses arising herefrom, whether caused by the Lot or the auction proceeds.

6. Auction Arrangements a. The Company has absolute discretion over the description of the auction in the catalogue, display layouts, authentication opinions, location and method of the auction, who will be allowed to bid and the acceptance of the bid price, whether to seek professional opinion and whether to combine or separate the Lots. b. Any price estimates, whether verbal or written are strictly opinions and shall not serve as a guarantee of the final price for the Lot to be sold. c. The Seller cannot withdraw the Lot without obtaining consent from the Company. The Company reserves the right to withdraw the Lots for the following reasons. These reasons include: 1. The Company is doubtful about the definition or authenticity of the Lot or the accuracy of the statement referred to in Articles 5a, b. or c.

2. Any violations of the Transaction Agreement.

3. The Company deems it inappropriate to include the Lot in the auction. d. If the Company wants to withdraws his/her/its mandate for the item(s) or the authorization to Ravenel under this Agreement, the Company shall give Ravenel not less than 30 days’ prior written notice and the Company shall also pay all costs and expenses previously incurred by Ravenel under this Agreement.

7. Auction Rules a. The Company will auction the item according to the Reserve. The Reserve may not be higher than the minimum of the estimates set in the catalogue except otherwise if the Reserve agreed is in a currency other than HK dollars and the Reserve is higher than the minimum of the estimates caused by the exchange rate fluctuation between the Reserve agreement day and the auction day.

Under such circumstances, except where otherwise agreed by the Company, the Reserve shall be in HK dollars calculated by the exchange rate at the closing of the market the day immediately before the successful auction. If the bid price is lower than the Reserve, the Company is in no way to be held liable; however, the Company is entitled to auction the item at a price lower than the Reserve. If the Company so auctions the item, the Company is responsible to pay the Seller the difference between the closing price and the Reserve. b. The Seller may not increase the price of sale without fair reasons, nor participate in the bidding of his/her/its auction item(s), however, Ravenel is authorized to bid on behalf of the Seller at the price not higher than the Reserve Price.

8. After the Successful Auction a. Settlement Upon the successful auction, the Company will request the Buyer to make full payment no later than within 7 days, including the compensation payable by the Buyer. Upon payment by the Buyer, unless the Company receives a notice claiming such auction item is a counterfeit (as defined in Article 1 of the Transaction Agreement), the Company will remit to the Seller within 60 days following the successful auction day an amount equal to the closing price taking away all the expenses payable by the Seller. In the event the Buyer delays the payment, the Company will remit to the Seller within 10 days following the payment by the Buyer. If for any reason the Company pays the Seller before the Buyer makes his payments, the Company acquires the full ownership of the item. However, if the Company is forced to reclaim the Lot from the Buyer because such item is a counterfeit, the Seller must return the auction proceeds to the Company.

Unless otherwise instructed by the Seller in writing, the Company will make

its payment in HK dollars. If the Seller requests to pay in currencies other than HK dollars, the exchange rate should be according to what the Hongkong and Shanghai Banking Corporation (HSBC) reports and the Company announces on the auction date. b. Non-payment by the Buyer If the Buyer fails to make all the payments due within 7 days following the auction day, the Company is entitled to negotiate special terms in connection with the payments, storage, and insurance on behalf of the Seller and act as deemed necessary by the Company to collect payments payable from the Buyer. However, the Company is not responsible for making remittance to the Seller nor for bringing any legal actions on behalf of the Seller. The Company will discuss with the Seller to adopt appropriate actions to claim auction payments from the Buyer. c. Counterfeits If the Buyer convinces the Company that the Lot is a counterfeit (as defined in Article 1 of the Transaction Agreement) within 10 days following the auction day, then 1. If the Buyer has not paid all or part of the payment, the Company is entitled to call off the transaction and/or 2. If the Company at that time has paid all or part of the payments payable to the Seller, the Seller must return all the payments made to the Company if requested. The Company will exercise lien for the latter. Any items belonging to the Seller under control of the Company will be kept as security of the payments to be returned. d. Items Not Successfully Auctioned Any items not successfully auctioned, not included in the auction or withdrawn from the auction for any reason must be collected by the Seller within 35 days upon notification by the Company to the Seller that he must reclaim the Lot. A storage fee of HK$300 per day per piece will be imposed on each item not collected after such 35 day period together with an additional charge for purchasing insurance coverage. The Seller may not reclaim such item until all the payments due are made. Such items may be removed to a third party warehouse if not collected in 60 days after the notification of collection is issued. The expenses arising therefrom shall be borne by the Seller. The Company may dispose of the Lot in the manner it deems appropriate if such item is not collected within 90 days following the auction date or the notice date (whichever is the earlier).

Such disposal includes removing the item to a third party warehouse with the associated expenses borne by the Seller and to auction such items under terms deemed appropriate by the Company (including the terms of estimates and the Reserve). The Company will pay the Seller the auction proceeds after payments owed are offset.

The Company is authorized to act as the sole agent of the Seller within 2 months following the auction for any auction item withdrawn from the auction or not sold. The Company may auction in private the item based on the net amount the Seller may receive (the amount after deducting all the expenses payable by the Seller) or sell such item in private at a lower price agreed upon by the Company and the Seller. Under such circumstances, the Seller’s responsibilities and liabilities to the Company are the same as during an auction.

All the notices distributed according to the Transaction Agreement herein shall be made in writing. Any notice shall be deemed served to the recipient on the second day following delivery if sent by mail. If the recipient is abroad, the notice shall be deemed served on the fifth working day following delivery by mail.

3. Severability If any part of the Transaction Agreement is deemed invalid, illegal or unenforceable by any court, such part can be ignored and the rest of the Transaction Agreement continues to be valid and enforceable to the maximum extent permitted by the law.

4. Jurisdiction The Transaction Agreement are governed under the Hong Kong laws and the interpretation and effect of the Rules shall be subject to the laws of Hong Kong. The Buyer and Seller shall submit themselves to the exclusive jurisdiction of the Hong Kong courts for the interests of the Company.

5. Languages This Agreement has been executed in Chinese and English. The Chinese language will control the interpretation of this Agreement. Any translated writing, including this Agreement, will not alter the legal meaning of such writing or the intent of the parties. In the event of a conflict between the Chinese and the English versions, the Chinese language version shall prevail.

Please refer to our website for seller’s Transaction Agreement. http://ravenel.com

9. Photographs and Display The Company owns non-exclusive rights to the photographs, recordings and other reproduced images of the Lot. All the rights of such images shall belong to the Company and the company is entitled to use such images in any manner it deems appropriate.

10. Taxes a. According to the tax laws of Hong Kong, Ravenel shall submit to the competent revenue agency the name of the Mandator and other relevant documents supplied by the Mandator. b. If the Mandator is a Hong Kong resident (corporation or individual), according to the tax laws of Hong Kong, no withholding amount of the profit tax will be deducted. However, Ravenel shall reserve the rights to claim for the tax amount and other related expenses (including but not limited to interests, penalty) from the Mandator if the representation made or document provided by the Mandator is not true. c. Where the Mandator is a foreigner, the Mandator agrees that Ravenel may deduct an amount equivalent to 0.5% of the hammer price or the Reserve Price (if the Reserve Price is higher than hammer price) and submit the deducted amount as Profits tax to the competent revenue agency. The amount to be withheld by Ravenel shall be subject to change once the applicable tax rate is adjusted.

III. Definition Some of the phrases commonly seen herein are defined as follows: 1. “The Buyer” shall mean highest bidder accepted by the auctioning party.

2. “The Lot” shall mean the item delivered to the Company to be sold in an auction, especially the single or multiple pieces of items numbered in the catalogue.

3. “Hammer price” shall mean the highest bid with respect to one particular auction item accepted by the auctioning party.

4. “Compensation paid by the Buyer” shall mean the fee based on a certain percentage of the Hammer price paid by the Buyer; the percentage shall be as prescribed in Article 4a, section I. 5. “The Reserve” shall mean the lowest price agreed by the Company and Seller. The Lot cannot be sold at a price lower than such price.

6. “Counterfeit” shall mean the Lot constitutes imitation and the original concept of the imitation and its overall execution result in fraud to cause deception in connection with the author, history, year, age, culture or origin of the Lot, for which the accurate description is not reflected in the catalogue and the value of the Lot on the auction day is far less than the value it should have according to the description in the catalogue. Therefore, no auction item will become a counterfeit as a result of any damage and/or any repairing in any manner (including repaints).

7. “Insured amount” shall mean the value of the insurance purchased for the Lot which the Company considers necessary under its absolute power from time to time (regardless whether such insurance is purchased by the Company).

IV. Terms Applicable to Both the Buyer and the Seller 1. Copyright The copyright of all the images, photographs and written material in connection with the Lot shall maintain and belong to the Company at any time. The Buyer or any person may not use such items without obtaining prior written consent from the Company.

2. Notices

116

業務規則

本業務規則，為睿芙奧股份有限公司(「本公司」)作為拍賣公司與賣家訂立合約之條款，亦 作為賣家之代理人與買家訂立合約之條款。買家及賣家務須細讀各項規則。買家請特別留 意第5條，其對本公司之法律責任作了限定。 Ⅰ.買家 1. 羅芙奧（以下稱本公司）作為代理人 本公司作為賣家之代理人 作為拍賣公司，本公司以作為賣家代理人之身分行事。除另行協定外，在本公司之拍賣中 成功拍賣之物品，即產生賣家通過本公司之代理與買家達成之合約。在拍賣中，本公司有 權代表賣家參與競投。 2. 拍賣前 a. 鑑定物品 本公司鄭重建議，準買家應於拍賣進行之前親自鑑定其有興趣競投之物品。除香港法 例(如商品說明條例)另有規定外，本公司不會就拍賣品是否膺品（如本業務規則第III項 所界定者）對買家作任何保證。 b. 拍品狀況之重要注意事項 請準買家注意，在可能的範圍內，目錄中對於拍賣品特性上之描述，皆已提及顯著的 損壞，惟不包括所有的缺陷、瑕疪與不完整。對任何拍賣品之描述亦不應視作表示其 無經過重整或修理，亦不應視作對拍賣品狀態或保存情況的陳述或保證。在目錄中若 有狀態陳述的缺乏或損害鑑定的缺乏，並不代表拍賣品是為良好狀態。本公司鄭重建 議，準買家在拍賣進行之前，對於有興趣競投之拍賣品狀況應經由親自檢閱，不應依 據目錄中的描述或陳述，因為任何在目錄中所列出的描述或陳述是為純粹本公司的主 觀意見。所有拍賣品均以「現狀」售出。除香港法例(如商品說明條例)另有規定外， 本公 司對於任何拍出之拍賣品狀態不作任何承諾或保證。 c. 符號表示 以下為本目錄所載符號之說明 高估價拍賣品 為對「高估價拍賣品」（ ）作出競投，買家必須填妥拍賣品預先登記表，並向本公 司交付所需的財政狀況證明、擔保、存款證明及／或本公司可絕對酌情要求買家為競 投須作出的其他抵押。本公司對是否接受任何預先登記申請有最終決定權。本公司建 議買家在有關拍賣日期至少五個工作日前聯絡本公司，以進行預先登記。請注意本公 司不能在週末或公眾假期期間取得財政狀況證明。「高估價拍賣品」登記競投者，本 公司將提供特殊的競投牌號參與競投。 含有瀕臨絕種及其他受保護動物物科之拍賣品 如拍賣品屬性含有瀕臨絕種及珍貴稀有之保育野生動植物等材質成分，在目錄中會於 標題處以『 』方式標示註記，以供辨識。這些物料舉凡珊瑚類、象牙、玳瑁角、鱷 魚皮、犀牛角、鯨鬚製品⋯等。買家請留意知悉:許多國家對於含有上述材質之物品完 全禁止進口，而有些國家則規定含有以上成分物品之進、出口是須向相關管理機構取 得許可證(如:CITES許可證)。以美國國家為例，禁止進口歷史年資低於100年的象牙製 品。羅芙奧建議買家於拍賣喊價投標前，負責並確定滿足適用於含有瀕臨絕種動物及 其他受保護野生動植物物料的物品出入口進出口等任何相關法規之要求。如含有瀕臨 絕種動物或其他受保護野生動植物物料的拍賣品項無法進、出口，係不構成撤銷競投 或解約理由之因素。 ○保證項目 拍賣品編號旁註有○符號者，表示賣家已取得本公司保證，可在一次或一連串拍賣中 得到最低出售價格。此保證可由本公司、第三方或由本公司與第三方共同提供。保證 可為由第三方提供之不可撤銷競投之形式做出。若保證拍賣品成功售出，提供或參與 提供保證之第三方可能會取得財務利益；惟銷售不成功時，則可能會產生虧損。若提 供或參與保證之第三方成功競投保證拍賣品時，他們仍需支付全額的買家服務費。 d. 底價 本目錄中的所有拍賣商品均定有羅芙奧與賣家雙方同意之底價,即不會以低於此價出 售的一個保密的最低價；且此底價不高於目錄中所示的最低估價。如有拍賣品不約制 於此底價限制，將特別會以紅色字樣標註於拍賣品標題名稱欄位處並會加以註示。 e. 目錄說明 本公司於目錄或鑑定意見書內對任何拍賣品之作者、來歷、日期、年代、尺寸、材 質、歸屬、真實性、出處、保存狀況或估計售價之陳述，或另行對此等方面之口頭或 書面陳述，均僅屬本公司主觀意見之陳述，不應依據為確實事實之陳述，亦不應視為 本公司對於任何拍賣品之狀態所作之承諾或保證。目錄圖示亦僅作為參考而已，不應 作為任何拍賣項目之依據，藉以決定其顏色或色調，或揭示其缺陷。拍賣價格之估 計，不應依據為拍賣品會成功拍賣之價格或拍賣品作其他用途之價值陳述。 許多拍賣品基於其年代或性質，使其未能有完美之狀況，目錄內有些說明或鑑定意見 書會提述拍賣品之損壞及／或修整資料。此等資料僅作為參考而已，如未有提述此等 資料，亦不表示拍賣品並無缺陷或修整，如已提述特定缺陷，亦不表示並無其他缺 陷。 f. 買家之責任 有關拍賣品之狀況以及目錄說明所提述之事項，買家有責任查明並了解，並確使自己 感到滿意。 3. 拍賣時 a. 拒絕入場 拍賣於本公司之場地進行，或於本公司為拍賣而具有控制權之場地進行，本公司具有 完全之決定權，可行使權利拒絕任何人進入拍賣場地或參與拍賣而無須作出任何解 釋。 b. 競投之前作出登記 每一準買家在作出競投之前，必須填妥及簽署登記表格，並提供身分證明。準買家應 注意，本公司通常會要求對買家作出信用核查。 c. 競投者為買家 除非登記時已書面協定，競投者將為代第三人行事之代理人，而該第三人為本公司所 接受者，否則競投者將被視為買家而須承擔個人法律責任。 d. 電話競投 如準買家於拍賣前與本公司作好安排，本公司將盡適當努力聯絡競投者，使其能以電 話參與競投，但在任何情況下，如未能聯絡，本公司對賣家或任何準買家均不負任何 責任。 e. 即時網上競投 若準買家未能出席拍賣會，或可透過 LiveAuctioneers 網上競投服務於網上競投部分 拍品。此項服務乃免費及保密。有關透過 LiveAuctioneers 網上競投服務登記，進行 網上競投之詳情，請參閱羅芙奧網頁ravenel.com。使用 LiveAuctioneers 網上競投 服務之準買家須接受透過 LiveAuctioneers 網上競投服務進行即時網上競投之附加條 款（可參閱羅芙奧ravenel.com），以及適用於該拍賣之業務規則所規限。 f.匯率轉換顯示板 在有些拍賣中，會有一具匯率轉換顯示板操作。匯率按拍賣日當天本公司合作銀行開 市時向本公司報出之一個月期貨匯率計算。然而競投仍會以港幣進行。匯率轉換顯示 板並非時常可靠，不論是顯示板所示之拍賣品編號或是港幣競投價之相等外匯，其準 確程度均可能會出現非本公司所能控制之誤差。買家因依賴匯率轉換顯示板（而非因

117

以港幣競投）所導致而蒙受之任何損失，本公司概不負責。 g. 錄映影像 在有些拍賣中會有影像投射，但其操作或會出現錯誤。不論影像是否與成功拍賣之拍 賣品相配合，或是如翻版影像之質素，本公司對買家均不負任何責任。 h. 拍賣官之決定權 拍賣官具有絕對決定權，包括但不限於有權拒絕任何競投、以其決定之方式推動出 價、將任何拍賣品撤回或分批、將任何兩件或多件拍賣品合併，以及如遇有誤差或爭 議，將拍賣品重新拍賣。拍賣官會於拍賣開始前或於相關拍賣品競標前對應注意事項 作出通告，買家須自行注意此等通告。 i. 成功競投 在拍賣官之決定權下，下槌即顯示對最高競投價之接受，亦即為賣家與買家之成功拍 賣合約之訂立。 4. 拍賣後 a. 買家支付每件拍品之服務費率 （1）買家除支付落槌價外，另須支付服務費予本公司，落槌價於港幣捌佰萬元以下者含 港幣捌佰萬元20％計算。 （2）落槌價於港幣捌佰萬元以上者分為二級，其中港幣捌佰萬元以20％計算，超過港幣 捌佰萬元之部份以12％計算。 b. 稅項 買家應付予本公司之所有款項均不包括任何國家或地區稅賦、貨物或服務稅或其他稅 款。如有任何此等稅項適用，買家須負責按有關法律所規定之稅率及時間繳付此稅 款。 c. 付款 成功拍賣後，買家須向本公司提供其姓名及永久地址。如遇要求，亦須提供付款銀行 之詳情。然後於拍賣日期後七天內悉數支付應付予本公司之款項（包含落槌價、服務 費，以及任何適用之稅款及其他費用）。即使買家希望將拍賣品出口並需要（或可能 需要）出口許可證，此一付款條件亦適用。 買家如未向本公司支付應付之全部款項，則不能取得拍賣品之所有權，即使本公司已 將拍賣品交付予買家亦然。如支付予本公司之款項為港幣以外之貨幣，本公司將向買 家收取所引致之任何外匯費用。這包括銀行收費與兌換貨幣之規費及匯差。 以港幣以 外之貨幣付款予本公司之匯率，依拍賣日現場由香港匯豐銀行公佈之匯率，並以本公 司就此兌換率而發出之憑證為準。 d. 領取已購拍賣品 除非本公司另有特別相反協定，否則本公司將暫時保留已成功拍賣之拍賣品，直至所 有應付予本公司之款項已悉數由買家支付為止。拍賣品在暫時保留期間，由成功拍賣 日期起為期七天將受保於本公司之保險，如屆時拍賣品已被領取，則受保至領取時為 止。七天期滿後或自領取時起（以較早者為準），拍賣品之風險全由買家承擔。 e. 包裝及搬運 本公司謹請買家注意，七天期滿後或自領取時起，拍賣品之風險全由買家承擔。 f. 介紹裝運及運輸公司 本公司之貨運部門在買家要求下可為買家介紹運輸公司、安排付運及購買特定保險， 但本公司在此方面不負任何法律責任。運送費用買家必須預先繳付。 g. 不付款或未有領取已購拍賣品之補救辦法 如買家未有在七天內付款，本公司即有權行使下述一項或多項權利或補救辦法： （1）在拍賣日期後超過七天仍未付款，則按不超過香港匯豐銀行最優惠利率加10%之 年利率收取整筆欠款之利息。此外本公司可同時按日收取依賣價（含佣金）1％計 算之違約金。將買家未付之款項，用以抵銷本公司或其他附屬公司在任何其他交 易中欠下買家之款項。 （2）對任何屬於買家所有而因任何目的而由本公司管有之物品行使留置權，並在給予 買家有關其未付之欠繳之14天通知後，安排將該物品出售並將收益用以清償該未 付之欠款。 （3）如買家因多項不同之交易而欠下本公司數筆款項，將所付之款項用以清償就任何 特定交易而欠下之任何款項，而不論買家是否指示用以清償該筆款項。 （4）在將來的任何拍賣中，拒絕買家作出或由他人代其作出之競投，或在接受其任何 競投之前先收取買家一筆保證金。如買家未有在三十五天內付款，本公司除上述 者外，另有權： （5）代賣家針對買家進行法律程序，以追討整筆欠款，連同此項以悉數賠償為基準之 法律程序之訴訟費及律師費等相關費用。 （6）取消同一次或任何其他拍賣中買家競投得之拍賣品或任何其他售予買家之拍賣品 之交易。 （7）安排將拍賣品公開或私下重售，如重售所得價格較低，就差額連同因買家未有付 款而引致之任何費用一併向買家索償。 h. 未有領取已購拍賣品 如已購得之拍賣品未有被買家在成功拍賣後七天內領取，則不論是否已付款，本公司 將安排貯存事宜，費用由買家承擔。而只在所引起之貯存、搬運、保險及任何其他費 用，連同欠本公司之所有其他款項付清後，買家方可領取已購得之拍賣品。 i. 出口許可證 除本公司另有書面同意外，買家希望申請出口許可證之事實，並不影響買家在拍賣日 後七天內付款之責任，亦不影響本公司對延遲付款收取利息之權利。 如買家要求本公司代為申請出口許可證，本公司有權向其收回與此項申請有關之付出 款項及零碎開支連同任何有關之稅款。 如買家不管需要有出口許可證之事實而作出付款，本公司並無責任退還買家因此而引 致之任何利息或其他開支。 5. 本公司之法律責任 本公司有責任在第6條所列之情況下退還款項予買家。除此之外，不論賣家或本公司，或本 公司任何僱員或代理人，對任何拍賣品之作者、來歷、日期、年代、尺寸、材質、歸屬、 真實性、出處、保存狀況或估計售價之陳述，或任何拍賣品之任何缺陷，均不負有任何責 任。賣家、本公司、本公司之僱員或代理人，均無就任何拍賣品作出任何保證。 6. 膺品之退款 如經本公司拍賣之拍賣品證實為膺品或贓物，則交易將取消，已付之款項則退還予買家。 但如： a.在拍賣日發出之目錄說明或拍賣場通告符合當時學者或專家普遍接納之意見，或清楚 表明有抵觸當時學者或專家普遍接納之意見，或 b.證明拍賣品為膺品之方法，只是一種在目錄出版前仍未普遍獲接納使用之科學程序， 或是一種在拍賣日仍屬昂貴得不合理或並不實際或很可能會對拍賣品造成損壞之程 序，則本公司無論如何並無責任退還任何款項。此外，買家只在滿足下述條件下方可 獲得退款： （1）買家必須在付款領取拍賣品後的十日內以書面通知本公司，說明買家認為有關拍 賣品乃膺品或贓物之詳細理由及將拍賣品送還本公司，而其狀況與拍賣當日相同；及 （2）送還拍賣品時，買家須出示證據，足以使本公司確信拍賣品乃膺品或贓物(本公司 於這方面的決定乃是最終及不可異議的)。在任何情況下，本公司均毋須向買家支

付多於買家就有關拍賣品而支付予本公司之款項，而買家亦不能索取利息或任何 賠償。 本條款之利益不能轉讓，完全屬於拍賣品成功拍賣時獲本公司發給正本發票之買 家所有，該名買家並須自拍賣後一直保持拍賣品擁有人之身分，而且並無將拍賣 品之任何利益讓予任何第三人。本公司有權依據任何科學程序或其他程序確定拍 賣品並非膺品，不論該程序在拍賣當日是否已使用或已在使用。

本公司發出通知予賣家要求賣家領回拍賣品後之35天內，賣家必須領回拍賣品。任 何此等拍賣品如在35天過期後仍未領回，睿芙奧可向委託者徵收每天每件標的作品參 佰港元 (HK$300)貯存費，並收取額外費用以購買保險。賣家須在付清所有未付費用 後，方可領回拍賣品。此等拍賣品如在發出領回通知後之60天內仍未領回，則可被移 往第三人之貨倉貯存，開支費用由賣家承擔。 任何此等拍賣品如在拍賣日期後或上述通知日期後之90天內（以較早之日期為準）未 被領回，則本公司可視乎是否合適而將該拍賣品處置。處置包括將拍賣品移往第三人 之貨倉而開支費由賣家承擔，以及將該拍賣品按本公司認為適當之條款（包括有關估 價與底價之條款）公開拍賣。本公司其後會將拍賣收益扣除所有欠款後支付予賣家。 任何拍賣品如在拍賣中收回或未能成功拍賣，則本公司獲賣家授權在拍賣後的兩個月 內作為賣家之獨家代理人，按原定的底價，私下出售拍賣品，或按本公司與賣家另行 同意之較低價格私下出售拍賣品。在此情況下，賣家就該拍賣品而對本公司所負有之 責任，與拍賣品成功拍賣時一樣。

II.賣家 1. 本公司作為代理人 本公司在公開拍賣會中，以作為賣家代理人身份行事。拍賣品成功拍賣後，即產生賣家通 過本公司之代理與買家達成之合約，由賣家負責向買家履行。 2. 開支 賣家須負責與下述各項有關之費用： a.將拍賣品包裝並運予本公司作拍賣。 b.任何適用之運送保險。 c.如拍賣品交回賣家其包裝與付運。若拍賣品由海外進口，付運費與進口適用之稅項。 d.受保於本公司之精品保險單（下文另有解釋）。 e.預先與賣家協定之對拍賣品作出之任何修整。 f.本公司相信為擬定目錄說明需由外界專家作出之鑑定。 g.本公司相信為適當之任何外界專家意見。 h.拍賣品拍賣前後之貯存。 i.本公司之行政費用，數目為因賣家而引致之一切費用之10%。 j.任何市場推廣費用。 3. 由本公司安排保險事宜 a.除非與本公司另有協定，否則拍賣品將自動受保於本公司藝術品精品保險單，保額為 本公司當時認為適當者。然而保額並非本公司承諾拍賣品會成功拍賣之款額。 b.本公司將向賣家收取拍賣品底價之1%，作為保險費。如由本公司安排運送，本公司將 向賣家收取額外款項，作為運送保險費，款額視每宗拍賣品之特定情況而定。如有需 要，本公司可建議/介紹承運人，但本公司不承擔任何有關此方面之法律責任。 c.拍賣品在拍賣後七天內保險仍然有效。如拍賣品未能成功拍賣，逾期後風險全由賣家 承擔。 d.由蛀木蟲空氣情況轉變或其他不能預見或人力不可抗拒情況而對拍賣品造成之損壞， 本公司不承擔任何法律責任。 4. 物主購買保險 如賣家特別指示本公司毋須為拍賣品購買保險，風險全由賣家承擔，直至拍賣品交付予買 家為止。賣家須保障本公司、本公司之僱員與代理人，以及買家（如適用）免負因拍賣品 而針對本公司、本公司之僱員與代理人，以及買家索償之賠償責任，而不論索償因何引 起。賣家亦須應本公司、本公司之僱員與代理人，以及買家所要求而償還因此種索償而引 致之開支，縱使本公司、本公司之僱員與代理人，以及買家有疏忽之處，而未證明有任何 法律責任而作出之付款，亦須償還。賣家須將本條條款告知賣家之承保人。 5. 賣家就拍賣品所作之承諾 本條列出本公司處理拍賣品之基準，此基準亦規限賣家與買家之間的關係。如此基準在任 何方面有不確實之處，本公司或買家可採取針對賣家之法律行動。本公司處理拍賣品及購 買拍賣品，均以賣家所作之下述承諾為基準： a.賣家為拍賣品之唯一物主及/或合法持有人，具備將其所有權(於無質押、產權負擔及 第三人權益或申索的情況下)轉讓予買家之無限制權利。 b.賣家已遵守一切與拍賣品之進出口有關之法律或其他方面之規定，並已將過去任何第 三人未能遵守此等規定之事以書面通知本公司。 c.賣家已將其所知之有關拍賣品之任何重大修改以及第三人就拍賣品之所有權、狀況或 歸屬所表示之任何關注以書面通知本公司。 如上述a、b或c有任何不確實之處，賣家須應本公司及/或買家之要求，完全負責及彌償本 公司及／或買家一切因此而引起之損失索償、費用及開支，而不論是因拍賣品還是因拍賣 收益而引起。 6.拍賣安排 a.本公司對目錄內拍賣品之描述與圖示方式、鑑定意見書、拍賣地點與方式、讓何人進 場競投以及競投價之接受、是否應尋求專家意見，以及將物品合併或分開拍賣等均有 完全之決定權。 b.任何估價，不論口頭或書面，均只屬意見，而非拍賣品最終可賣得的價錢之保證。 c.未得本公司書面同意，賣家不可撤回拍賣品。但本公司保留隨時因後述原因而撤回拍 賣拍賣品之權利。此等原因為： 1.本公司對拍賣品之界定或真實性或上述第5a、 b或c條所指之承諾之準確性有懷疑； 2.有任何違反本業務規則之情況；或 3.本公司相信將拍賣品納入拍賣並不適當。 d.若委託者要撤回標的作品之委託或授與睿芙奧之權利，委託者除須給予睿芙奧不少於 30日之書面通知外，尚須支付睿芙奧所有之前為履行本授權書所產生的費用及開支。 7.拍賣守則 a.本公司將會參照底價將拍賣品拍賣。底價不得高於目錄所印估價之下限，但如所同意 之底價為港幣以外之貨幣，並因協定底價之日與成功拍賣之日上匯率波動而致底價高 於估價下限，則不在此限。在此情況下，除本公司另行同意外，底價須為相等於以緊 接成功拍賣前一個工作天之收市匯率計算之港幣款項。如競投價不能達到底價，本公 司在任何情況均不負有任何責任。但本公司有權將拍賣品以低於底價拍賣。如本公司 如此將拍賣品拍賣，本公司將有責任向賣家支付成交價與底價之差額。 b.賣家不得隨意哄抬價格，不得參與競標拍賣品，亦不得聘請任何人代賣家參與競投， 惟本公司有權代賣家參與競投。

9.圖片與圖示 本公司有權對拍賣品制作照片、圖示、錄像或其他形式的影像制品，此等照片、圖示、錄 像及影像制品之一切權利均屬本公司所有，且本公司有權以任何本公司認為適合之方式使 用之。 10.稅制 a. 依香港稅法規定，標的作品成交後委託者須提供報稅名單及相關資料，由睿芙奧提 報稅捐單位。 b. 如果賣家為香港公司或香港居民，根據香港稅法，本公司毋須向賣家代扣香港利得 稅。如果本公司其後發現賣家之聲明及文件不實，本公司保留向賣家追討香港稅款 及其他相關費用（如利息、罰款及律師費等）的權利。 c. 若委託者非香港本地人士，委託者並同意睿芙奧直接代扣落槌價或底價(如底價高於 落槌價)之0.5%，作為拍出後之利得稅，由睿芙奧代為申報並繳交稅捐單位。由睿芙 奧扣除的款項將隨著當時的稅率而調整。 III.本業務規則所用詞彙之意義 在本業務規則中，某些常用詞彙需加以解釋。此等詞彙如下： 1.「買家」：指本拍賣公司所接受之出價最高之人或公司。 2.「拍賣品」：指交予本公司以供拍賣出售之物品，尤其在任何目錄內以任何編號描述之 一項或多項物品。 3.「落槌價」：指本拍賣公司就某一拍賣品而接受之最高出價之價款。 4.「買家支付之酬金」：指買家按落槌價之某一百分比而支付之費用；收費率如I項第4a條 所列。 5.「底價」：指本公司與賣家協定之最低價格，拍賣品不能以低於該價之價格售出。 6.「膺品」：指拍賣品構成模仿，而模仿之原構想及其整體執行均具有欺詐意圖，以就拍 賣品之作者、來歷、年代、時期、文化或來源進行欺騙，而對此等事項之正確描述並 未在目錄之描述上反映出來，而拍賣品在拍賣當日之價值，遠低於按照目錄之描述所 應有之價值。按此定義，任何拍賣品均不會因為有任何損壞及／或任何形式之修整而 成為膺品。 7.「保險值」：指本公司不時按其絕對決定權認為拍賣品所應購買之保險之價值（不論保 險是否由本公司安排購買）。 IV.買家與賣家均適用之條件 1.版權 與拍賣品有關之一切影像、圖示與書面材料之版權，於任何時候均屬於本公司之財 產。未得本公司事先書面同意，賣家、買家或任何人均不得使用。 2.通知 a.根據本業務規則發出之通知，均須以書面發出。如採用郵遞發出，則在付郵寄出後 第二個工作天即當作由收件人收妥；如收件人在海外，則為付郵寄出後第五個工作 天。 b. 本公司根據本業務規則、委託授權書或買家所提供之聯絡資料對賣家或買家發出之通 知，凡已依據委託授權書後附或買家所提供資料上所載的地址、電子郵件地址或傳 真號碼統稱「聯絡方式」)以書面發出該通知者，均視為該通知已有效發出。若賣家 或買家之聯絡方式有變更時，應立即以書面通知本公司。 3.可分割性 如本業務規則有任何部份遭任何法院認定為無效、不合法或不可強制執行，則該部分 可不予理會，而本業務規則之其他部份在法律許可之最大範圍內須繼續有效及可強制 執行。 4.法律及管轄權 本業務規則受香港法律規限，本業務規則之解釋與效力均適用香港法律。賣家與買家 須服從香港法院之排他性管轄權。 5. 語言 此業務規則以中英對照形式簽立，如有不一致，應以中文文本為準。任何譯本，包括 本業務規則的英文文本，將不會影響本規則的法律解釋，與合約各方訂約意圖。 賣方業務規則請參閱羅芙奧網站 http://ravenel.com

8.成功拍賣後 a.結算 成功拍賣後，本公司將要求買家最遲於7日內全數付款。在買家付款及領取拍賣品後 的10天內，除非本公司收到買家通知拍賣品為膺品（如本業務規則第III項所界定者） 或贓物，否則，本公司會於買家付款後之60天內，將一筆相等於成交價減去賣家應支 付之所有費用之款額給予賣家。如遇買家延遲付款及在買家沒有於付款及領取拍賣品 後的10天內通知本公司拍賣品為膺品或贓物，則本公司將在買家付款後之60天內付款 予賣家。 除賣家另有書面指示外，本公司將以港幣付款。如賣家要求以港幣以外之貨幣付款， 依拍賣現場由香港匯豐銀行公佈之匯率計算。 b.買家不付款 如買家在拍賣日期後之7天內未有支付應付之全部款項，本公司即有權代賣家就付 款、貯存與保險而協定特別條款，並採取本公司認為適當的任何步驟以向買家收取其 應付之款項。但本公司並無責任向賣家付款，亦無責任代賣家採取任何行動(包括但不 限於法律行動)。但本公司將與賣家討論如何採取適當行動以向買家追討拍賣款額。 c.膺品/贓物 如買家於付款領取拍賣品後之十日內，使本公司相信拍賣品為膺品（如本業務規定第 III項所界定者）或贓物，本公司會無條件退還全數金額予買家，而拍賣品將由本公司 退回賣家或送交警方處理，賣家不得異議。 d.未能成功拍賣之拍賣品 任何拍賣品如未能成功拍賣，或不包括在拍賣之內，或因任何理由而撤回拍賣，則在

118

ABSENTEE BID FORM The absentee bid forms must be delivered to the Customer Service Department at least 24 hours before the auction begins.

The bid forms may be faxed to: Jewellery Auction Division Tel: +852 2889 0859 Fax: +852 2889 0850

Auction

Date Location Address

RAVENEL AUTUMN AUCTION 2012 HONG KONG Fine Jewels and Jadeite Sunday 25 Nov 2012, 2:30pm Grand Hyatt Hong Kong – Grand Ballroom 1 Harbour Road, Wanchai, Hong Kong

Bidder’s Details Name ID number Address Postal code Tel: (Daytime) (Evening) Fax Email Signature (We must have your signature to execute this bid.)

It is requested hereby that Ravenel tenders the bid on my behalf for the following auction items within the bidding range described hereunder.

I understand that Ravenel provides such bid services for the convenience of customers and Ravenel shall not be held liable for any failure to execute a bid. If Ravenel receives more than one commission of the same bid price with regard to a particular auction item, priority will be given to the person whose bid is first received.

I understand that if my bid is successful, I shall pay the final hammer price together with the service fee and any applicable sales tax.

The service fee shall be calculated as 20% of the final hammer price (not applicable to wines). For detail please refer to Articles 4a, c and d of the Transaction Agreement to the Buyer. (4a. The service fee of each lot payable by the Buyer: (1) The Buyer should pay the hammer price and, in addition, the service fee to the Company. For hammer price below HK$ 8,000,000 (inclusive), the service fee should be calculated at 20% of the hammer price; (2) For hammer price higher than HK$ 8,000,000, the first HK$ 8,000,000 should be calculated at 20% and the rest of the amount should be 12%.)

The bid shall be subject to the Transaction Agreement prescribed in the catalogue. Please note especially the limited guarantee and exclusive warrantees that may be provided for certain items.

PLEASE PRINT LEGIBLY Auction item number (in numerical order)

Title

Bid price (HK$) (excluding service fee)

Interested buyers should provide Ravenel with their current bank and/or other relevant material to ensure all bids will be accepted and the delivery of the auction item will not be delayed, and authorize us to verify the provided informations with the bank. Kindly provide this information for processing in advance of the auction date.

Bank Reference Approval Name of the bank Address of the bank

Name of the account Account number Contact of the bank Tel. No.

Ravenel Fine Arts Limited Unit 601-3, 50 Connaught Road, Central, Hong Kong Tel: +852 2889 0859 Fax: +852 2889 0850 ravenel.com

委託競投表格 委託競投表格須於拍賣24小時前送抵客戶服務部。競投表格可傳真 至： 珠寶拍賣部 電話：+852 2889 0859 傳真：+852 2889 0850

拍 賣 名 稱： 羅芙奧香港2012秋季拍賣會 珍藏珠寶及翡翠首飾 香港拍賣日期：2012年11月25日（星期日） 下午2:30 香港君悅酒店（宴會大禮堂）灣仔港灣道一號

投標者資料 客戶編號 （如有） 姓名 身份證號碼 地址 郵碼 電話 （住宅） （辦公室） 傳真 電郵 簽名 （本公司在取得閣下之簽名後方才接受競標）

茲請求羅芙奧就下列拍賣品於下列競投價範圍內投標。 本人亦明白，羅芙奧為方便顧客而提供代為投標的服務，羅芙奧不因怠於投標而負任何責任。倘羅芙奧就同一項拍賣品收到相同競價之委託，以 最先收到者優先辦理。 本人知悉如投標成功，本人應付之購買價款為最後之落槌價加上服務費，（連同該最後落槌價及服務費之營業稅）服務費依最後落槌價乘以服務 費率得之。詳見業務原則規定第4條a,c,d之規定。（4a.買家支付每件拍品之服務費率：（1）買家除支付落槌價外，另須支付服務費予本公司， 落槌價於港幣捌佰萬元以下者含捌佰萬元以20％計算；（2）落槌價於港幣捌佰萬元以上者分為二級，其中港幣捌佰萬元以20％計算，超過港幣 捌佰萬元之部份以12％計算。） 本競投，本人同意並遵守本目錄所載所有業務規則（特別是有限保證、不負其他瑕疵擔保等規定）。

請用正楷填寫清楚 拍賣品編號 （按數字順序）

名

稱

競投價（港元） （服務費不計在內）

為確保所有投標均得以接受及拍賣品之送交不延誤，有意買家應向羅芙奧提供往來銀行或其他適當之參考資料，並予以授權羅芙奧得向銀行查 證。該等資料應及時提供，以便在拍賣前著手處理。

銀行證明 銀行名稱 銀行地址 銀行帳戶名稱 銀行帳號 銀行聯絡者 銀行電話

睿芙奧股份有限公司 香港中環干諾道中50號六樓601-3室 Unit 601-3, 50 Connaught Road Central, Hong Kong Tel: +852 2889 0859 Fax: +852 2889 0850 ravenel.com