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Benoît Repellin, Worldwide Head of Jewellery said, “Phillips Jewels is experiencing an extraordinary period of growth. The results from this Spring and the Hong Kong Fall sale are a testament to both the market’s resilience and our strength within it. Following a 191% year-on-year increase in global sales for H1 2024, we achieved an outstanding 89% year-on-year increase for this season’s jewels auction in Hong Kong. Notably, 35% of sold lots exceeded their presale high estimates, and 15 lots achieved more than double their presale low estimates. Collectors actively participated in all areas of the sale, paying strong prices for rare coloured gemstones and signed pieces. We look forward to continuing these robust results with the Hong Kong Jewels online sale this month and The Geneva Jewels Auction on 11 November.”
Strong results were achieved for coloured stones, including the sale’s top lot: a 7.02-carat Burmese ruby and diamond ring, which sold for HK$9.88 million/ US$1.27 million. Additionally, a Burmese ruby and diamond necklace with rubies totaling approximately 54.18 carats sold for HK$8.25 million/ US$1.06 million, and a 10.84-carat cushion-shaped alexandrite chrysoberyl and diamond ring sold for HK$7.6 million/ US$980,694 million, exceeding its pre-sale low estimate by three times.
Outstanding results were seen throughout the sale for signed jewels, with nearly 94% of the pieces offered being sold. Highlights including a Cartier diamond ring set with a 5.58-carat emerald-cut diamond, which sold for HK$1.14 million/US$147,014. Additionally, Bulgari’s 'Serpenti Viper' diamond bangle sold for HK$444,500/ US$57,207, Chaumet’s 'Joséphine Aigrette Impériale' ruby and diamond ring sold for HK$431,800/ US$55,573, nearly three times its pre-sale low estimate, and an aquamarine and diamond ring by Van Cleef & Arpels sold for HK$241,300/ US$31,055, 1.27 times its pre-sale low estimate.
Auction Highlights:
Exchange Rate on 3 October 2024: HK$1= US$0.1287
ABOUT PHILLIPS Phillips: where the world’s curious and bold connect with the art, design and luxury that inspires them. As a leading global platform for buying and selling 20th and 21st century works, Phillips offers dedicated expertise in the areas of Modern and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry. Auctions and exhibitions are primarily held in New York, London, Geneva, and Hong Kong, with representative offices based throughout Europe, the United States and Asia. Phillips offers a regular selection of live and online auctions, along with items available for immediate purchase. Phillips also offers a range of services and advice on all aspects of collecting, including private sales and assistance with appraisals, valuations, and financial planning. Visit phillips.com for further information.
*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.
PRESS CONTACTS: HONG KONG – Ingrid Hsu, Head of Public Relations and Corporate Communications, Asia Ingridhsu@phillips.com +852 2318 2043
PHILLIPS NEW YORK – 432 Park Avenue, New York, NY 10022 PHILLIPS LONDON – 30 Berkeley Square, London, W1J 6EX PHILLIPS HONG KONG – G/F, WKCDA Tower, West Kowloon Cultural District, No. 8 Austin Road West, Kowloon, Hong Kong PHILLIPS GENEVA - Rue de la Confédération, 7 Geneva 1204
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