Fancy Intense Yellow Fetches $550,000, but Auction Highlight is Unsold
October 02, 26
(IDEX Online) - A 23.34-carat fancy intense yellow VVS1 diamond ring sold for HKD4.3 million ($550,810) at Phillips' Hong Kong Jewels Auction, just shy of its high estimate.
But what was billed as the highlight of the event, a Bulgari 9.86-carat Kashmir sapphire and diamond ring, carrying an estimate of HKD7.5 million to HKD9.5 million ($962,000 to $1.22 million), did not sell.
Phillips' published results do not indicate whether the lot was withdrawn or went unsold, and the auction house has yet to respond to a request from IDEX Online for details.
The auction also included a pair of oval diamonds weighing 7.02 and 7.04 carats, graded E and F color respectively and VVS2 clarity
Another high-value lot a pair of 7.02-ct and 7.04-ct oval diamond earrings (E and F color respectively and VVS2 clarity) with an estimate of HKD 3.3 million to HKD 4.3 million ($423,000 to $551,000) also does not appear in published results.
The fancy intense yellow diamond fetched the highest price in a sale that included jewels from major houses including Van Cleef & Arpels, Cartier and Graff.
The cut-cornered rectangular mixed-cut diamond accounted for almost 12% of the reported total by value, with HKD 37.2 million ($4.7 million) in sales from 91 lots.
Other notable lots included a pair of earrings featuring fancy brown-yellow diamonds weighing 12.55 and 12.56 carats.
They sold for HKD 1.9995 million ($256,000), below their HKD 2.2 million to HKD 3 million ($282,000 to $385,000) estimate.
Pic shows the 23.34-carat fancy intense yellow VVS1 diamond ring.