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Phillips New York Auction Nets $5.4M

Dec 11, 2019 4:50 AM   By Rapaport News
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RAPAPORT... A blue diamond ring by Tiffany & Co. was the top seller at Phillips’ New York sale, leading the $5.4 million auction.

The cut-cornered square modified brilliant-cut, 3.02-carat, fancy-intense-blue, VS2-clarity diamond ring fetched $1.6 million, against a presale estimate of $1.5 million to $2.5 million at Monday’s New York Jewels sale.

A fancy-color diamond and gold necklace featuring a pear modified brilliant-cut, 3.01-carat, fancy-blue-grey diamond sold for $500,000, beating its high estimate of $450,000. Meanwhile, a cut-cornered square step-cut, 16.23-carat, fancy-intense-yellow, VS1-clarity diamond ring by De Beers brought in $275,000. That piece was estimated at $220,000 to $400,000.

Other notable items included a 1925 Art Deco ring by Spaulding & Co., featuring a modified marquise brilliant-cut, 7.69-carat, D-color, VS2-clarity, type IIa diamond, which went for $200,000, in the middle of its $150,000 to $250,000 presale valuation. A pair of earrings, together set with two old mine-cut diamonds weighing 9.12 carats and 8.18 carats, fetched $175,000, just shy of its $180,000 upper estimate.

“After reintroducing our jewels auctions to New York last December, we are delighted to see such continued enthusiasm in the market,” noted Susan Abeles, Phillips’ head of jewelry for the Americas. “We saw strong international participation, with collectors bidding across the globe.”

In total, the auction house sold 73% of its lots, noting strong participation from bidders.

“The December auction…saw the highest number of bidders for any Phillips jewels auction, a testament to the continued investment in this space,” said Graeme Thompson, worldwide head of jewelry at Phillips.

Image: The 3.02-carat Tiffany & Co. blue diamond ring. (Phillips)
Tags: Graeme Thompson, New York Jewels, Phillips, Phillips’ New York, Rapaport News, Spaulding & Co, Susan Abeles, Tiffany, Tiffany & CO.
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