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Phillips Garners $23M at Hong Kong Sales

Dec 5, 2021 7:26 AM   By Rapaport News
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Two rare jewelry collections were the highlights of the most recent Hong Kong auctions at Phillips, which yielded a combined total of $23.3 million.

A ring featuring a 20.27-carat, D-flawless diamond was the top seller at the November 27 live Jewels & Jadeite auction, bringing in $2 million, within its estimate, Phillips said last week. A 14.03-carat, D-color, VVS1-clarity diamond ring fetched $838,684, also with its presale valuation, the auction house added.

A 16.32-carat, I-color, VVS1-clarity diamond ring smashed its upper estimate, going for $581,515, while a pair of ear studs containing D-color, internally flawless diamonds weighing 5.01 and 5.09 carats sold for $549,209, at the high end of its expected range.

Other notable items at the sale, which featured a group of pieces called Sensational Jewels from a Prominent Middle Eastern Collector, included a 24.33-carat, K-color, VS2-clarity diamond ring. That item more than doubled its upper valuation, fetching $484,596. In total, the live auction earned $18.7 million, with 90% of goods on offer finding buyers.

Meanwhile, Phillips held a concurrent online auction called Treasures from Zambia: An Exceptional Emerald Collection, which ran from November 27 to December 2. That sale saw the highest price achieved for a Zambian emerald at auction, with a 56.87-carat emerald and diamond pendant necklace bringing in $1 million, or $24,334 per carat. The piece also scored a record for highest per-carat price for a Zambian emerald sold at auction.

A pair of earrings, set with emeralds weighing 19.98 and 20.85 carats, fetched $210,155 at the digital sale, exceeding its high estimate. Two pieces blasted their presale estimates, including an 11.20-carat emerald and diamond pendant necklace that can be converted into a ring, which went for three times its high valuation, and an 8.63-carat emerald and diamond ring, which garnered six times its upper estimate. Both jewels sold for $210,155. In total, the online sale made $4.6 million, with Phillips selling 92% of items on offer.

“These results achieved the highest sell-through rates for Phillips Jewels in Asia, concluding 2021 as a record year for the category in Hong Kong,” said Graeme Thompson, worldwide head of jewelry at Phillips. “The number of online registrants doubled that of last season, with 30% of lots selling to online bidders.”

Image: The 20.27-carat diamond. (Phillips)
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Tags: diamonds, Graeme Thompson, Hong Kong, Jewelry, jewels, Jewels & Jadeit, Phillips, Rapaport News, Sensational Jewels from a Prominent Middle Eastern Collector, Treasures from Zambia: An Exceptional Emerald Collection
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