Jade Ring Bid at $2.6 Million as Chinese Seek Green Gems

Hong Kong jewelry collector Dennis Sun has been buying jade for three decades. Lately, it has been harder to snag the perfect piece as mainland Chinese buyers drive prices through the roof.

At a Christie’s auction in May, he watched a jadeite ring sell for about HK$20 million ($2.6 million), or five times its estimated price. Last month, he bought a jade bangle for almost HK$1 million even though the color and quality weren’t all had hoped for.