Phillips Garners $3.4M at Hong Kong Sale

RAPAPORT... The recent Phillips Jewels and Jadeite auction in Hong Kong achieved $3.4 million, even as several top lots were left unsold.The leading item was a necklace containing 45.02 carats of Burmese pigeon's-blood rubies and diamonds, which fetched $385,258, within its estimate, Phillips said last week. A bracelet set with 21.47-carats of Colombian emeralds and diamonds took the second spot, bringing in $353,153, within its presale price range.Other notable items included a bracelet featuring 17.08 carats of Burmese pigeon's-blood rubies and diamonds, which went for $321,048, just above its lower estimate. Several colored diamonds also proved popular. A heart-shaped, 1.55-carat, fancy-intense-purplish-pink diamond ring sold for $176,576, while a cut-cornered rectangular modified brilliant-cut, 1.51-carat, fancy-deep-purple-pink diamond ring garnered $160,524. Both jewels were within their presale estimates.Meanwhile, an unmounted oval-shaped, 20.30-carat, D-flawless diamond, estimated at up to $1.9 million, failed to find a buyer, as did a brilliant-cut, 9.43-carat, D-flawless diamond ring. That piece had a high estimate of $880,000. A set of pear-shaped, D-color, internally flawless diamond earrings weighing 5.02 and 5.03 carats, with a high presale price of $580,000, also remained unsold.In total, Phillips sold 71% of items on offer, it added.Image: The ruby and diamond necklace. (Phillips)