The Phillips Hong Kong Jewels Auction experienced robust activity last week, with competitive bidding across all platforms, including phone, in-room, and online participation. The auction concluded with a total of HK$51 million (£5 million) in sales, successfully selling 76% of the 97 lots on offer.
Benoît Repellin, the worldwide head of jewellery at Phillips, commented on the auction’s success: “Phillips Jewels is currently witnessing an extraordinary phase of growth. The results from both the spring and this autumn’s Hong Kong sale reflect the market’s resilience and our strong position within it.”
Repellin also highlighted the auction house’s remarkable 191% increase in global sales during the first half of 2024, adding that the Hong Kong Jewels Auction saw an impressive 89% year-on-year growth this season.
A notable achievement of the auction was the performance of 35% of sold lots, which exceeded their presale high estimates, while 15 lots fetched more than double their presale low estimates. Rare coloured gemstones and signed jewellery pieces attracted strong interest from collectors, resulting in highly competitive prices.
Among the top performers was a 7.02-carat Burmese ruby and diamond ring, which fetched HK$9.88 million (£970,000), making it the highest-selling lot of the auction. Other standout sales included a Burmese ruby and diamond necklace, featuring rubies totaling 54.18 carats, which achieved HK$8.25 million (£810,000), and a 10.84-carat cushion-shaped alexandrite chrysoberyl and diamond ring, selling for HK$7.6 million (£750,000), over three times its low estimate.
The auction also saw exceptional results for signed jewels, with nearly 94% of the pieces finding buyers. Noteworthy sales included a Cartier diamond ring set with a 5.58-carat emerald-cut diamond, which sold for HK$1.14 million (£110,000), as well as a Bulgari Serpenti Viper diamond bangle, which went for HK$444,500 (£43,645).
Additional highlights included a Chaumet Joséphine Aigrette Impériale ruby and diamond ring, which sold for HK$431,800 (£42,398), and an aquamarine and diamond ring by Van Cleef & Arpels, which brought in HK$241,300 (£23,693).
Phillips is set to continue its success with the upcoming Hong Kong Jewels online sale this month, followed by the Geneva Jewels Auction on 11 November.
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