Red Diamond Sets Records at Second Phillips Geneva Auction

At its second Geneva jewellery auction, Phillips achieved remarkable results, including a $12 million sale of a pink diamond and the setting of two records for a fancy-red diamond
Red Diamond Sets Records at Second Phillips Geneva Auction

The top lot was a 6.21-carat, fancy-vivid-pink, VS1-clarity, type IIa diamond ring, which sold for $12 million at the May 13 Geneva Jewels Auction: Two. This amount, equating to $1.9 million per carat, was within its presale estimate, Phillips announced on Tuesday.

Another standout was the Argyle Phoenix, a 1.56-carat, fancy-red diamond ring. This piece brought in $4.2 million, nearly tripling its high estimate and setting records for both the total price and per-carat price of a fancy-red diamond at auction. Originating from Rio Tinto’s renowned Argyle mine in Australia, the stone sold for $2.7 million per carat to Graff. Overall, the auction totalled $26.1 million, with 74% of items sold.

Among the other top lots, a 280.84-carat emerald pendant known as the Amazon Queen fetched $3.1 million, surpassing its upper presale estimate. Additionally, a fancy-intense-yellow and fancy-yellow diamond necklace by Harry Winston sold for $840,410, nearly double its upper estimate. A ruby and diamond necklace fetched $448,219, just below its upper presale price range.

“We are thrilled with the results achieved today, building on the success of Phillips’s first jewels sale in Geneva last November,” said Benoit Repellin, worldwide head of jewellery for Phillips. “The auction showcased outstanding pieces, notably the exceptional fancy-vivid-pink diamond ring, marking it the star lot of the season across Geneva auction houses. Another highlight was the Amazon Queen, which sparked a 30-minute bidding war. We eagerly await our next jewels auction in New York, where we are excited to carry this momentum forward.”

Diamond World