A fancy red diamond set a world record at the most recent Phillips auction in Geneva.
At CHF 3.8 million ($4.2 million, or $2.7 million per carat), the “Argyle Phoenix” was sold for more than double its estimated price to Graff Diamonds founder Laurence Graff.
According to Phillips, the stone broke two records at auction for a beautiful red diamond: the price and the price per carat.
As Phillips’ Worldwide Head of Jewelry Benoît Repellin notes, this 1.56-carat stone is now the largest known round brilliant fancy red diamond. It was extracted from the now-closed Argyle mine in Australia.
Gemstones were highlights of the May 13 sale, “The Geneva Jewels Auction: Two,” which brought in a total of CHF 23.6 million ($26 million). The auction was sold 74% by lot and 86% by value, with 97 lots out of the 131 lots offered being sold.
Repellin reported
We are thrilled with the result of CHF 23.6 million achieved today, building on the success of Phillips’ first Jewels sale in Geneva last November
All images from Phillips
