Jeweller - May 2024

News
Pink diamond expected to shine bright at auction
A remarkable pink diamond is expected to make
headlines at an upcoming Phillips auction in
Geneva, commanding an impressive presale
estimate.
The 6.21-carat fancy vivid pink diamond is
expected to return $USD15 million ($AUD22.78
million) at the 13 May auction. The event will be
hosted at the Hotel President Geneva.
More than 100 specially curated pieces from
designers, including Cartier, Suzanne Belperron,
and Van Cleef & Arpels, will also be displayed.
Another notable entry in the auction is the
Amazon Queen, a 280-carat Colombian emerald
from a private collection.
The emerald will enter the sale with a presale
estimate of $USD1.5 million ($AUD2.28 million).
A 27.27-carat fancy vivid yellow diamond ring is
also expected to impress bidders.
It commands a presale estimate of $USD1.1
million ($AUD1.67 million).
Before the auction, Phillips will host exhibitions
of the gemstones and jewellery in New York,
London, Taipei, Taiwan, and Singapore.
This auction comes after a fancy colour yellow
diamond ring was the star of the show at a
Phillips auction in Hong Kong, returning
$USD1.1 million ($AUD1.69 million).
Rare fancy colour diamonds
make waves at auction
Collectors out in force: Records set at Hong Kong auction
Two new records were set at a recent Sotheby’s
watch auction in Hong Kong, suggesting that
collectors' appetite for rare timepieces remains
healthy.
The Hong Kong Important Watches auction, held
on 7 April, raised $USD16.1 million ($AUD24.75
million).
The feature of the evening was the sale of a Patek
Philippe reference 2499 (1960), which provoked
fierce bidding among buyers.
After nearly 20 bids, the watch was sold for
$USD1 million ($UAD1.54 million).
A Patek Philippe reference 2526 was sold for
$USD729,977 ($AUD1.12 million), setting a record
for the highest return for this specific model.
“Patek Philippe's reference 2526 needs no
introduction and is arguably one of the greatest
time-only watches of all time,” writes Kayan
Wong of The Value.
“The first automatic watch ever introduced by the
prestigious maison [brand], it was designed to be
extraordinary from the outset – new movement,
exemplary finishing, and fitted with enamel dials
of the highest quality.”
It was a similar story with the sale of a platinum
Cartier Paris Cloche, No. 1/1, which returned
$USD210,882 ($AUD324,142) – also a record for
that specific model.
Sotheby’s said in a statement that nearly half
of the pieces at the auction sold for above their
presale estimate.
The passion for fancy colour diamonds has yet
to show signs of slowing at recent international
auctions, fetching impressive returns.
A fancy colour yellow diamond ring was the headline
act at a Phillips auction in Hong Kong, returning
$USD1.1 million ($AUD1.69 million).
The round brilliant-cut, 15.51-carat fancy vivid yellow
VS2-clarity diamond fell within its pre-sale estimate
on 28 March.
The auction returned $USD4.1 million ($AUD6.29
million) in total, with 73 per cent of items sold. Head
of jewellery Benoît Repellin said it was pleasing to
see the passion for remarkable diamonds remains
strong.
“The sale total for our spring auction in Hong Kong
increased by 20 per cent over the previous season,
demonstrating the resilience of the global demand
for rare and important jewels across the board,” he
said.
“Fancy colour diamonds commanded the sale.
Vintage signed pieces also performed well. We also
saw notable demand for [the] finest Burmese rubies,
emeralds and sapphires.”
Among the other items of interest was a 1985 Van
Cleef & Arpels necklace, set with brilliant-cut
diamonds and cabochon turquoise. The necklace
returned $USD584,000 ($AUD895,000), more than
three times its pre-sale estimate.
May 2024 | 23