Phillips’ Geneva Jewelry Auction Achieves $26.1 Million with Record-Breaking Sales
Phillips’ Geneva jewelry auction proved to be a resounding success, achieving a remarkable total of $26.1 million in sales. The highly anticipated event, held on May 13, witnessed fierce bidding wars and record-breaking prices for some of the world’s most exceptional gemstones. The auction showcased a stunning array of rare and exquisite pieces.
Fancy-Vivid-Pink Diamond Ring: The Star Lot
The fancy-vivid-pink diamond ring stole the show at the Phillips’ Geneva Auction, captivating bidders with its exquisite 6.21-carat size, VS1 clarity, and type IIa classification. The ring fetched an impressive $12 million, translating to a remarkable $1.9 million per carat, solidifying its position as the leading lot at the auction. Its rare and vibrant hue made it a standout piece, reflecting the ongoing allure and demand for exceptional colored diamonds in the world of high-end jewelry auctions. The meticulous craftsmanship and rarity of these jewels truly made them the center of attention, showcasing the discerning taste of collectors and the expertise of the auction house in curating such remarkable pieces.
Argyle Phoenix: Record-Breaking Fancy-Red Diamond
The Argyle Phoenix, a stunning 1.56-carat fancy-red diamond ring, made history at the auction by fetching a record price of $4.2 million, nearly tripling its high estimate. This exceptional gem not only set a new record for the overall price of a fancy-red diamond at auction but also achieved a remarkable per-carat price of $2.7 million. Its origin from Rio Tinto’s Argyle mine in Australia adds to its allure, the significance of diamonds from Rio Tinto’s Argyle mine in Australia lies in their rarity and exceptional quality. And the piece found its new home with Graff, further solidifying its place in jewelry auction history.
Other Notable Sales
Amazon Queen: 280.84-carat emerald pendant fetched $3.1 million, surpassing the presale price. This standout piece attracted significant attention at the auction, ultimately commanding a price that outperformed initial estimates.
Harry Winston’s captivating fancy-intense-yellow and fancy-yellow diamond necklace achieved remarkable success at the auction, commanding a selling price of $840,410, almost twice the initial estimate.
A ruby and diamond necklace sold for $448,219, just shy of its presale range. These exceptional sales stood out in a sea of luxury offerings at the auction, demonstrating the diverse range of exquisite pieces that captured the attention of discerning buyers. The successful sale of the necklace at the Phillips Geneva Jewels Auction highlights the appreciation for exceptional gemstones and intricate craftsmanship within the luxury market. Each item showcased the brilliance and craftsmanship that define the world of high-end jewelry auctions.
Overall Auction Performance
Totaling an impressive $26.1 million, the recent Geneva Jewelry Auction by Phillips garnered attention for its remarkable sales performance, the auction displayed strong performance with 74% of the items garnering buyers, demonstrating a robust market interest and enthusiastic participation. Benoit Repellin, Phillips’ worldwide head of jewelry, enthusiastically commended the outcome and anticipated further success.
The auction’s success underscores the enduring appeal of luxury items and the continued relevance of high-end jewelry auctions in the market. The achieved results undoubtedly exceed expectations, setting a stellar precedent for future auctions. Repellin’s enthusiasm echoes the overall sentiment at Phillips, where the remarkable sales figures solidify their position as a leading auction house in the jewelry sector. The stellar outcomes not only validate their strategies but also pave the way for continued innovation and excellence in the realm of luxury auctions.
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