High Stakes in Hong Kong and Geneva Jewelry Auctions

16/05/2024 17:15

The world of high-end jewelry auctions recently witnessed a dazzling display of opulence and prestige, with events in both Hong Kong and Geneva showcasing exceptional diamonds, gemstones, and exquisite craftsmanship.

In Hong Kong, Phillips and Sotheby's captivated bidders with a mesmerizing array of treasures. Phillips boasted a 15.51-carat fancy vivid yellow brilliant cut diamond, fetching a remarkable US$1.14 million, while Sotheby's presented a breathtaking 55.55-carat oval brilliant-cut, D-flawless diamond, commanding an impressive US$5.8 million. Sotheby's also achieved a remarkable 76% sell-through rate, with sales totaling US$36.5 million, featuring colored diamonds and gemstones that soared 60% above their high estimates.

Meanwhile, in Geneva, Phillips orchestrated a spectacle of luxury, headlined by a 6.21-carat pink diamond ring that sold for a staggering US$12 million. The auction also featured the "Argyle Phoenix," a rare 1.56-carat fancy-red diamond ring, which nearly tripled its estimate and was sold to Laurance Graff for a record-breaking result of US$4.2 million, or US$2.7 million per carat. Sourced from Australia's famed Argyle mine, this gem stands as the largest known round brilliant fancy red diamond, adding to its allure following the mine's closure in 2020.

Benoît Repellin, Phillips' Worldwide Head of Jewelry, underscored the significance of the Argyle Phoenix's sale, emphasizing its rarity and historical context. Alongside these remarkable diamonds, standout pieces like the Amazon Queen emerald pendant and a Harry Winston necklace exceeded expectations, contributing to the auction's impressive $26.1 million in sales and a commendable 74% sell-through rate.

The auctions in Geneva and Hong Kong stand as a testament to the enduring demand for exceptional gemstones and artisanal jewelry, captivating collectors and enthusiasts worldwide with their unparalleled beauty and rarity.


Photo credit: Phillips, The Argyle Phoenix Diamond