Phillips Breaks Records with $11.8M Pink Diamond at Geneva Auction


Especially impressive 6.2 carat pink diamond was auctioned by Phillips and gained a lot of admirers’ attention.

Posted on May 27, 2024

Phillips held their first jewelry auction last November in Geneva and it didn’t disappoint. The recent jewelry sale set a new standard by gaining over $11.8 million for an exceptional pink diamond (6.2 carat).

In general, many worthwhile and meaningful lots were displayed at the auction, for example, an exclusive, luxurious pink diamond ring that was sold for 10.8 million Swiss francs (CHF). A diamond of such splendor was definitely going to steal the spotlight among Geneva auction houses.

The auction had its tense moments. One piece provoked a bidding battle, which lasted for 30 minutes. The highly-demanded item was the “Amazon Queen”, an impressive emerald weighing 280.84 carats that finally was sold for CHF 2.7 million ($4.18 million).

Among the auction’s highlights was the 1.56-caratArgyle Phoenix” acquired by Laurence Graff, the founder of Graff Diamonds, a prestigious British jewelry company. This unique gem fetched CHF 3.8 million which equals to nearly $4.2 million. Interestingly, the price set a record for a red diamond in both total cost and price per carat (about $2.68 million); although the initial estimate was twice lower than the final deal. It must be mentioned that the “Argyle Phoenix” is considered the largest round red diamond. This rare stone, valued for its vibrant color and pure clarity, was discovered in the now-closed Argyle mine in Australia.

Benoit Repellin, Phillips’s worldwide head of jewelry, expressed his excitement over the auction’s results, as the bar was rather high. Apart from the lots mentioned above, the auction displayed outstanding pieces from well-known houses like Cartier, Van Cleef & Arpels, and Harry Winston, as well as other exquisite colored diamonds, sapphires, and emeralds.

These stunning items allowed Phillips to earn CHF 23.6 million in total. Those who are interested should save the date because Phillips has already scheduled its next live jewelry auction. This exciting event will take place on June 12 in New York.

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