Auctions

Red Diamond Breaks Records at Phillips Geneva

AuctionsMay 15, 2024

Red Diamond Breaks Records at Phillips Geneva

The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.

The Argyle Phoenix red diamond
A fancy red diamond, the “Argyle Phoenix,” set a world auction record this week, selling at Phillips Geneva for $4.2 million, well above its high estimate of $1.5 million.
Geneva—At Phillips’ recent Geneva auction, a fancy red diamond set a world record while a 6-carat fancy vivid pink diamond brought in over $10 million.

The “Argyle Phoenix” sold to Laurence Graff, founder of Graff Diamonds, for more than double its estimate, going for CHF 3.8 million ($4.2 million, or $2.7 million per carat).

Phillips said the stone set two auction records for a fancy red diamond, one for price and one for price per carat.

The Argyle Phoenix red diamond
The “Argyle Phoenix” set two records at Phillips Geneva this week.

The 1.56-carat stone, sourced from the now-closed Argyle mine in Australia, is the largest known round brilliant fancy red diamond, according to Phillips’ Worldwide Head of Jewelry Benoît Repellin.

The auction’s expected top lot was a 6.21-carat fancy vivid pink diamond set in a ring. 

The Type IIa diamond garnered CHF 10.8 million ($11.9 million or $1.9 million per carat), selling within its estimate of CHF 9.5 million to 13.6 million ($10.5 million to $15 million).

6 carat pink diamond
This 6.21-carat Type IIa fancy vivid pink diamond with VS1 clarity sold within its estimate of CHF 9.5 million to 13.6 million ($10.5 million to $15 million).

 
Colored gemstones were a highlight of the May 13 sale, “The Geneva Jewels Auction: Two,” which garnered CHF 23.6 million ($26 million) in total. 

With 97 lots sold of the 131 lots offered, the auction was sold 74 percent by lot and 86 percent by value. 

“We are thrilled with the result of CHF 23.6 million achieved today, building on the success of Phillips' first Jewels sale in Geneva last November,” Repellin said.  

“The Geneva Jewels Auction: Two 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.” 

 Related stories will be right here … 

Another standout of the sale was the “The Amazon Queen,” a 280.84-carat emerald, which Repellin said sparked a 30-minute bidding war.

It sold for CHF 2.8 million ($3 million), exceeding the high-end of its CHF 2.4 million ($2.6 million) estimate.

The Amazon Queen
“The Amazon Queen,” with minor oil, is one of the largest gem-quality emeralds to appear at auction, Phillips said.


Other colored diamond pieces also sold above their estimates. 

A fancy intense yellow and fancy yellow diamond necklace from Harry Winston estimated to go for up to CHF 460,000 ($508,527), sold for CHF 762,000 ($840,410). 

A 2-carat fancy intense green diamond also sold above its estimate, fetching CHF 368,300 ($406,198), or $180,000 per carat. 

 

As for other colored gemstones, a ring featuring a nearly 15-carat no-heat sapphire from Burma went for CHF 304,800 ($336,164), more than double the high-end of its estimate.

14.96-carat blue sapphire and diamond ring
This 14.96-carat sapphire and diamond ring sold for well over its high estimate of CHF 140,000.
 

A ruby and diamond necklace went for CHF 406,400 ($448,219), within its estimate, while a ring featuring an 18.01-carat step-cut sapphire sold for CHF 196,850 ($217,106), more than triple its high-end estimate of CHF 55,000 ($60,877).  

Also, a pair of earrings, one featuring a 15.04-carat no-heat Burma sapphire and the other a 13.03 no-heat Ceylon sapphire, sold above its estimate, going for CHF 266,700 ($294,143). 

 
Another top lot, a ring featuring a 10.08-carat diamond of F color with VS1 clarity sold for CHF 304,800 ($336,164), within its pre-sale estimate.  

Jewels from Cartier, Van Cleef & Arpels, and Harry Winston, also did well at the sale. 

“We are truly proud of today's achievements and extremely grateful to all the collectors who continue to put their trust in us and to the dedicated bidders who participated— particularly those who journeyed to join us at our new venue in the Hotel President,” said Repellin. 

“We eagerly await our next Jewels auction in New York on June 12, where we are excited to carry this momentum forward.” 


The Latest

De Beers CEO Al Cook and Signet Jewelers CEO Gina Drosos
SourcingMay 24, 2024
Signet, De Beers Have a Plan to Promote Natural Diamonds

The two industry giants are working together on a new marketing campaign.

Stock image of a diamond engagement ring
SourcingMay 24, 2024
De Beers’ Sales Slide in Fourth Round of Sales This Year

The company sold $380 million in rough diamonds, compared with $479 million in the same period last year.

Tiffany Venetian glass bead ear clips
TrendsMay 23, 2024
State of Jewelry Design: 3 Themes That Will Shape the Next 5 Years

Color, storytelling, and the use of nonconventional materials are the signatures of today’s most innovative and influential designers.

1872 x 1052 Gemolite.jpg
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional Edition

GIA®’s most advanced microscope has new features to optimize greater precision and comfort.

Inoveo Platinum
MajorsMay 23, 2024
PGI to Debut New Platinum Alloy in Las Vegas

Inoveo Platinum will be distributed exclusively by Stuller in the U.S.

Weekly QuizMay 23, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these seven questions.
Take the Quiz
Alan Hart Headshot
MajorsMay 23, 2024
Gem-A CEO Alan Hart Resigns

He is stepping down in August after eight years as CEO.

Rose cut arch cabochons Columbia Gem House
SourcingMay 22, 2024
State of Colored Stones: Why the Market Is More Colorful Than Ever

As prices of “The Big Three” skyrocket, supply dwindles, and focus on sustainability grows, an age of open-mindedness is dawning.

Royal Chain gold chains
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.

Despite the rising prices, consumers continue to seek out the precious metal.

Pandora Essence jewelry
CollectionsMay 22, 2024
Pandora’s New Jewelry Collection Reimagines the Essentials

The “Pandora Essence” collection brings a contemporary and sculptural feel to staples like gold hoops and pearl necklaces.

Instore show 2024
Events & AwardsMay 22, 2024
InStore ‘Cram Day’ To Focus on Lab-Grown Diamond Education

The limited-seating learning event precedes its second annual trade show, which starts Aug. 11.

Swarovski New York City flagship
IndependentsMay 21, 2024
State of Retail: 4 Retail Design Trends for 2024

From lighter color palettes to the integration of AR, experts offer inspiration for jewelers in need of an aesthetic refresh.

Dame Shirley Bassey’s
AuctionsMay 21, 2024
Dame Shirley Bassey’s Diamonds Are Ready for Their Encore

Sotheby’s will auction jewelry belonging to the “Diamonds Are Forever” singer in Paris this October.

National Jeweler columnist Sherry Smith
ColumnistsMay 21, 2024
Successful Vendor Relationships: A Win-Win Approach

Sherry Smith shares tips for fostering successful vendor-retailer partnerships, from marketing investment to fast-seller replenishment.

Jennifer Herold, Independent Jewelers Organization vice president
IndependentsMay 21, 2024
Jennifer Herold Promoted to VP at IJO

Herold has been with the organization for 22 years and will continue in her current role of conference director.

Studs pop-up
MajorsMay 20, 2024
Studs Opens Luxury Piercing Pop-Up in NYC

“Fancy Studs” will feature revamped branding and a new lab-grown diamond fine jewelry collection.

Nivoda executive team at table
SourcingMay 20, 2024
2 Business-to-Business Platforms Secure Millions in Funding

Nivoda and Liquid Diamonds both have big plans for the new capital.

Stuller Packaging & Displays 2024-2025 catalog
MajorsMay 20, 2024
Stuller Issues New Packaging & Display Catalog

The 2024-2025 edition features new colors and styles, as well as storytelling elements.

Elephants wading in the Okavango Delta in Botswana
SourcingMay 20, 2024
State of the Diamond Industry: Botswana Beyond Diamonds

From moringa to ecotourism in the Okavango Delta, the country and its leaders are exploring how Botswana can diversify its economy.

Rough diamonds from De Beers
SourcingMay 20, 2024
Anglo American Confirms It Is Looking to Sell De Beers

The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”

Buccellati jewelry
FinancialsMay 17, 2024
Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEO

The announcement coincided with its full-year results, with growth driven by its jewelry brands.

Watches of Switzerland Mall of America store
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat

Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.

My Next Question webinar series graphic
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show Success

Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.

Cartier ring-tailed lemur brooch circa 1991
AuctionsMay 17, 2024
Piece of the Week: Cartier’s Ring-Tailed Lemur

This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.

202.18 carat fancy intense yellow diamond The Yellow Rose
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite Cyberattack

Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.

The Allnatt yellow diamond
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from Auction

Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.

National Jeweler columnist Lilian Raji
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve Done

Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.

Mothae Diamond Mine Lesotho
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine

The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy