Advanced Search

Phillips Garners Nearly $10M at Hong Kong Auction

Nov 26, 2019 7:16 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Phillips’s Hong Kong sale brought in $9.6 million, with a ruby ring standing out as one of the top-selling items, the auction house said Tuesday.

The 5.22-carat pigeon’s blood Burmese ruby and diamond ring fetched HKD 6.2 million ($785,970), just over its low estimate of HKD 5.9 million ($753,736) at the Jewels and Jadeite auction.

Meanwhile, a convertible ring, which can transform into a pair of ear studs, led a collection of 16 items featuring pink diamonds from the Argyle mine. The piece, which contains two heart-shaped diamonds weighing just over 1 carat each — one fancy intense purplish-pink and the second fancy vivid purplish-pink — earned HKD 6 million ($770,344) against an estimate of HKD 5.8 million to HKD 6.8 million ($739,860 to $867,423).

An emerald-cut, 7.09-carat diamond ring by Cartier fetched HKD 4.6 million ($586,349), beating its high estimate of HKD 3.3 million ($421,558), while a marquise-shaped diamond ring by Van Cleef & Arpels also did well. The 7.08-carat diamond piece garnered HKD 3.6 million ($463,064) against a high estimate of HKD 3.5 million ($447,105). A colored-diamond bracelet by Graff sold for HKD 1.1 million ($135,727), more than double its high estimate of HKD 500,000 ($63,872).

A rare Van Cleef & Arpels zip necklace with diamonds, sapphires and lapis lazuli brought in HKD 4.4 million ($555,683), just under its high estimate of HKD 4.5 million ($580,000). 

“Signed jewels by top jewelry houses ignited confident bidding,” said Terry Chu, head of jewelry for Phillips Asia. 

Other notable items included a cut-cornered modified brilliant-cut, 16.08-carat, fancy-vivid-yellow diamond ring, which garnered HKD 5.2 million ($663,029), in the middle of its HKD 4.5 million to HKD 5.5 million ($580,000 to 705,000) valuation. 
However, the most valuable item, a jadeite bead and diamond necklace, sold for HKD 7.5 million ($962,334), missing its low estimate of HKD 8.5 million ($1.1 million), while nearly 60% of the remaining jadeite pieces on offer went unpurchased.

Meanwhile, a pair of diamond pendant earrings and a fancy-intense-blue diamond ring by De Beers, both estimated at up to HKD 4.5 million ($574,844), also remained unsold.

Phillips sold 70% of the lots on offer.

Image: The 5.22-carat Burmese ruby and diamond ring. (Phillips)
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Argyle mine, Cartier, De Beers, Graff, Jewels and Jadeite auction, Phillips Hong Kong, Phillips’s, Rapaport News, Terry Chu, Van Cleef & Arpels, Van Cleef & Arpels zip necklace
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.