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SOTHEBY’S HONG KONG MAGNIFICENT JEWELS AND JADEITE SPRING SALE
16 March 2015
Sotheby's Hong Kong Magnificent Jewels and Jadeite Spring Sale 2015 will take place on 6 April at the Hong Kong Convention and Exhibition Centre. The upcoming sale will highlight an array of rare and important colourless and coloured diamonds, including a 77.77-carat fancy vivid yellow diamond ring worth estimated to be worth between US$6.8-7 million, and a 23.15-carat DIF type IIa Golconda diamond ring dubbed "The Legend of Golconda", which is expected to sell for between US$4.3-5 million.

The Spring Sale will also offer a selection of vintage and contemporary jewelry pieces signed by renowned jewellers, including Bulgari and Boucheron, among others.

Altogether the sale will offer approximately 320 lots estimated in excess of US$99 million.

Sotheby's New President and CEO Announced

Sotheby's has announced that its Board of Directors has concluded its CEO search and appointed Tad Smith as President and Chief Executive Officer, effective March 31, 2015. Smith will also join the Sotheby's Board of Directors. He succeeds William F. Ruprecht who served as CEO since 2000.

Smith, 49, has been President and CEO of the Madison Square Garden Company since February 2014, overseeing the overall strategy and day-to-day operations of MSG Sports, MSG Media, and MSG Entertainment.

Sotheby's also announced it will separate the roles of Chairman and Chief Executive Officer and that the Board has elected Lead Independent Director Domenico De Sole to succeed Ruprecht as Chairman of the Board.

"Tad Smith's appointment is the result of a thorough search process to identify an extraordinary leader to build on Sotheby's strengths," said De Sole. "The Board is unanimous in its view that Tad is the ideal CEO for the Company. He is a proven leader and value creator with CEO experience, strategic vision, brand-building expertise, an ability to understand and serve client needs, and a track record of driving revenue and profit growth. He also has a passion for art and collectibles. We welcome him to Sotheby's. On behalf of the Board, I also want to thank Bill Ruprecht for his exemplary service over the past 35 years. We deeply appreciate all he has done to put Sotheby's in a strong position for continued success."

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