At its Geneva jewelry auction last week, Phillips broke records for a red diamond and achieved more than $11.8 million for a 6.2 ct. pink diamond.
The 1.56 ct. “Argyle Phoenix” red diamond sold for 3.8 million Swiss francs (CHF)—equivalent to almost $4.2 million—more than double its estimated value. Phillips confirmed that the stone set auction records for a fancy red diamond in both total price and price per carat (approximately $2.68 million).
Purchased by Laurence Graff, the founder of Graff Diamonds, the record-breaking Phoenix is the largest known round brilliant fancy red diamond, sourced from the now-defunct Argyle mine in Australia.
Overall, Phillips took in 23.6 million francs for the auction. “We are thrilled with the result…building on the success of Phillips’ first jewels sale in Geneva last November,” Benoît Repellin, the auction house’s worldwide head of jewelry, said in a statement. “The auction showcased outstanding pieces, notably the exceptional fancy vivid pink diamond ring, fetching CHF 10.8 million, making it the star lot of the season across Geneva auction houses.
“Another standout was the ‘Amazon Queen,’ an outstanding emerald weighing 280.84 carats, which sparked a 30-minute bidding war, ultimately selling for CHF 2.7 million,” said Repellin. “Notable jewels from esteemed houses like Cartier, Van Cleef & Arpels, and Harry Winston, alongside exquisite colored diamonds, sapphires, and emeralds, also achieved impressive results.”
Phillips’ next live jewels auction is set to take place in New York on June 12.
Top: The 1.56 ct. brilliant-cut fancy “Argyle Phoenix” diamond broke world records and went for more than double its estimate at Phillips’ recent Geneva Jewels auction. (Photos courtesy of Phillips)
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