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

Botswana Minster of Minerals and Energy Bogolo Joy Kenewendo
EditorsJun 16, 2025
Q&A: Bogolo Joy Kenewendo on Mining, Tariffs, and the Energy of Las Vegas

Following visits to Vegas and New York, Botswana’s minerals minster sat down with Michelle Graff to discuss the state of the diamond market.

Greenwich Street Jewelers Your Love Has the Perfect Ring Campaign
IndependentsJun 16, 2025
Greenwich St. Jewelers Launches Commitment Campaign Celebrating LGBTQ+ Couples

The “Your Love Has the Perfect Ring” campaign showcases the strength of love and need for inclusivity and representation, the jeweler said.

Ivette Nersesyan-Stephanopoulos
MajorsJun 16, 2025
Ivette Nersesyan-Stephanopoulos Joins Tiffany & Co.

The former De Beers executive is the jewelry house’s new director of high jewelry for the Americas.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

New York Liberty Nyara Sabally Catbird campaign
MajorsJun 16, 2025
Catbird Names WNBA Star Nyara Sabally as Its New Brand Ambassador

The New York Liberty forward is the first athlete to represent the Brooklyn-based jewelry brand.

Weekly QuizJun 12, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Robinson Pelham Fruits of Love Pear Earrings
CollectionsJun 13, 2025
Piece of the Week: Robinson Pelham’s Pear Earrings

Take a bite out of the 14-karat yellow gold “Fruits of Love Pear” earrings featuring peridots, diamond stems, and tsavorite leaves.

Three diamonds with diagrams
Events & AwardsJun 13, 2025
AGA to Host ‘Diamonds From Mine to Market’ Education Conference

The one-day virtual event will feature speakers from De Beers, GIA, and Gemworld International.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Ella Sophie
EditorsJun 12, 2025
15 Questions With Jewelry Photographer Ella Sophie

The California-based creative talks jewelry photography in the modern era and tackles FAQs about working with a pro for the first time.

Gabriel Love Foundation Logo
Events & AwardsJun 12, 2025
Gabriel Love Foundation Introduces Scholarship Honoring Elias Gabriel

The foundation has also expanded its “Stronger Together” initiative with Jewelers for Children.

De Beers CEO Al Cook speaking at JCK Las Vegas 2025
EditorsJun 11, 2025
Q&A: Al Cook on Differentiating Natural Diamonds, Traceability, and Tariffs

The De Beers Group CEO discusses the company’s new “beacon” program, the likelihood diamonds will be exempt from tariffs, and “Origin.”

Pandora Las Vegas ribbon cutting ceremony
MajorsJun 11, 2025
Pandora Bets on Las Vegas for First North American Flagship

The Danish jewelry giant hosted its grand opening last weekend, complete with a Pandora pink roulette wheel.

Tiffany Stevens
GradingJun 11, 2025
Tiffany Stevens Exits IGI, Lab Appoints New Board Leader

Industry veteran Anoop Mehta is the new chairman and independent director of the IGI board.

Lee Min Seo and Ianyan Jewelry
Events & AwardsJun 11, 2025
Kering Announces Winners of Sustainability-Focused Award

The winners of the inaugural “Kering Generation Award x Jewelry” are student Lee Min Seo and China-based startup Ianyan.

De Beers desert diamonds
SourcingJun 10, 2025
De Beers Turns to Brown, Yellow Diamonds for New ‘Beacon’

“Ombré Desert Diamonds” will emphasize cream-, champagne-, and brown-colored diamonds, shades that set natural stones apart from lab grown.

Gresham grasshopper ring
AuctionsJun 10, 2025
Noonans to Auction 16th-Century Signet Ring

It's one of the “Gresham grasshopper” rings English financier Sir Thomas Gresham was known to gift to acquaintances or business associates.

Mary Chiam
CollectionsJun 10, 2025
Tabayer Names Mary Chiam as CEO

The brand also debuted its new “Zorae” collection featuring a talisman of protection and harmony inspired by a sheaf of wheat.

Lauren Johansen
MajorsJun 10, 2025
Lauren Johansen Joins Loudr

As Loudr’s new account manager, Johansen will partner with clients to craft and execute marketing strategies.

Lunar Rain cat locket
Events & AwardsJun 09, 2025
And the Winners of the 2025 Couture Design Awards Are …

Designers were recognized in 12 categories, from platinum to pearls, before the evening ended with a new, retail-focused award.

Nancy Astor tiara
AuctionsJun 09, 2025
Nancy Astor’s Cartier Tiara Sells for $1.2M

The rare turquoise and diamond jewel was the top lot at Bonhams’ June jewelry sale.

2025 National Jeweler Retailer Hall of Fame inductees
IndependentsJun 09, 2025
Here Are the 2025 Retailer Hall of Fame Inductees

This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.

2025 CASE Award Submission Graphic
Events & AwardsJun 09, 2025
CASE Awards Now Accepting Entries For 2025

The deadline to submit is June 16.

RDI Diamonds and Lavalier Personal Jewelry Insurance Logos
MajorsJun 09, 2025
RDI Diamonds Partners With Lavalier

The diamond wholesaler is working with the insurance provider to seamlessly offer personal jewelry insurance to RDI retailers’ clients.

Harwell Godfrey Granny Square Eleanor Necklace
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

 Laura Gallon Joaillerie “Dynasty” ring, Bijules “Compass” bolo tie, Löf “The Orbitalis” ring
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design Atelier

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

Jack Abraham The Royal Ruby Collection
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las Vegas

The “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.

Daymond John
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las Vegas

The entrepreneur and “Shark Tank” star will share his top tips for success.

×

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