A pair of emerald earrings sold for over $4 million at auction in Hong Kong, have set a new world record. The 25.39 carat and 23.12 carat earrings were hotly bid for by enthusiasts.

Vickie Sek, director of Christie's, Asia, said: "Once again it proves that despite the economic crisis and the instability of the market, all the collectors and investors still go for the best gem quality stones."

At another auction in Hong Kong, a tiny imperial Chinese "famille-rose" used to contain tobacco powder, became the most expensive snuff bottle, selling for more than $3 million. The bottle was made in the Imperial Palace workshops during the Emperor Qianlong period some 200 years ago.