Phillips’ Hong Kong Jewels Auction generated a total of more than HK$50 million (around US$6.4 million), led by diamonds, sapphires and emeralds. The auction attracted participants from 33 countries and regions.

Held on March 27 at Phillip’s Asia headquarters in West Kowloon Cultural District, the annual sale saw a 55 per cent year-on-year increase, with a 77 per cent sell through rate by lot and total sold lots fetching 128 per cent of their pre-sale estimates, revealed the auction house.

Headlining the sale was a 10.00-carat D-colour internally flawless Type IIa diamond ring, which sold for HK$4.57 million (US$587,959); a pair of 6.49- and 6.10-carat fancy intense yellow diamond earrings, which fetched HK$4.31 million (US$555,295); and a pair of 5.01-carat very light pink diamond and 5.00-carat faint pink diamond earrings, which raked in HK$3.55 million (US$457,302).

Other highlights were a pair of 9.87- and 8.59-carat unheated Burmese sapphire and diamond earrings, which was snapped up for HK$3.3 million (US$424,637); and a bracelet with no-oil Colombian emeralds totalling 16.51 carats, which sold for HK$2.67 million (US$342,976).

Phillips Jewels Worldwide Head of Jewellery Benoît Repellin and Head of Sale in Hong Kong Diana Chang remarked, “With a 55 per cent year-on-year increase in total sales, this auction highlights the continued robust growth of our jewellery department in Hong Kong.”

According to the auction house, 60 per cent of sold lots exceeded their presale low estimates, and nearly 20 per cent surpassed their presale high estimates. 

The exceptional performance of diamonds, sapphires and emeralds at the auction “underscores the enduring appeal high-value collectors place on these exquisite gems,” noted Phillips.