Red Diamond Sets Records at Second Phillips Geneva Auction

Phillips sold a pink diamond for $12 million at its second Geneva jewelry auction, which also saw two records set for a fancy-red. 

The 6.21-carat, fancy-vivid-pink, VS1-clarity, type IIa diamond ring was the leading lot at the May 13 Geneva Jewels Auction: Two, Phillips said Tuesday. The total, which amounted to $1.9 million per carat, fell within its presale estimate.  

Another item that performed well was the Argyle Phoenix, a 1.56-carat, fancy-red diamond ring. The piece, which nearly tripled its high estimate to bring in $4.2 million, scored a record for overall price of a fancy-red diamond at auction, as well as per-carat price. The stone, which originated from Rio Tinto’s famed Argyle mine in Australia, sold for $2.7 million per carat to Graff. In total, the sale achieved $26.1 million, with 74% of items finding buyers. 

Also among the top lots was a 280.84-carat emerald pendant known as the Amazon Queen, which fetched $3.1 million, beating its upper presale price, and a fancy-intense-yellow and fancy-yellow diamond necklace by Harry Winston that fetched $840,410, nearly double its upper estimate. Meanwhile, a ruby and diamond necklace went for $448,219, just under the top of its presale price range. 

“We are thrilled with the result…achieved today, building on the success of Phillips’s first jewels sale in Geneva last November,” said Benoit Repellin, worldwide head of jewelry 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 standout 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.”

Images: The 1.56-carat Argyle Phoenix (left); the 6.21-carat pink (right). (Phillips)