Sotheby's have continued their Asian adventure with another superb sale as part of their Spring Series in Hong Kong.

The auction, which attracted super-rich collectors and investors from throughout mainland China and beyond, saw highly competitive bidding and high estimates surpassed.

"Our extremely strong total of HK$499 million (US$64 million) represents one of the highest totals for jewellery sales ever held in Asia by Sotheby's," said QUEK Chin Yeow, Deputy Chairman and Head of the Jewellery Department at Sotheby's Asia.

"Throughout the day there was spirited competition among collectors from across Asia for top quality round white diamonds and pink diamonds, as well as for Burmese ruby, Colombian emerald and jadeite jewellery."

The 8.01-carat blue diamond ring, which sold for $12.72m

Headlining the sale was an extraordinary 8.01-carat emerald-cut fancy vivid blue diamond ring which sold for HK$99.22m (US$12.72m).

The ring achieved the second highest-ever price per carat for a blue diamond sold at auction - topped only by the 6.01-carat Fancy Vivid Blue Diamond sold by Sotheby's in Hong Kong in October 2011.

This was followed by an 11-carat brilliant-cut unmounted DFL diamond which achieved HK$30,900,000 (US$3,961,538), a 28-carat internally flawless fancy vivid pink diamond ring which sold for HK$25,300,000 ($3,243,590) and a Burmese ruby and diamond necklace which brought HK$24,180,000 (US$3,100,000).

The demand for coloured diamonds has risen intensely in recent years, and the appetite of Asian collectors for the finest gems continues to grow.

It was no surprise that the sale achieved one of the best Asian jewellery results in the company's history; the results from every sale in the 2012 Spring Series so far has demonstrated why China is now the world's biggest market for art and antiques.