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Tuesday, 25th November 2008 (710 views)

A gold ring was among the items in a set that sold for nearly $1 million (£653,000) at auction recently.

The set was one of a number of lots made by Jacob & Co at Sotheby's Magnificent Jewels and Jadeite auction in Hong Kong.

Jacob Arabo, founder of Jacob & Co, noted that the company is continuing to perform strongly despite the global economic downturn.

He explained that consumers recognise the long-term value and "recession-proof" nature of gold.

"It is a source of genuine pride for me to see our pieces be among the top selling items at one of the most prestigious jewellery auctions in the world," added Mr Arabo.

A number of antique gold items are due to go to auction in the US on Sunday December 7th.

Lots will include an 18-c gold Victorian ring and a Tiffany 14-c gold ladies compact, both owned by late antiques dealer Louise Graham.

 

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