Phillips Garners $5.2M in New York

RAPAPORT... Phillips's New York Jewels auction brought in $5.2 million, with a 43.15-carat, fancy-yellow diamond ring taking the top spot.The old European brilliant-cut, VS2-clarity piece, accented with round brilliant-, single- and baguette-cut diamonds, fetched $816,500 at the June 2 auction, just under its high presale estimate, Phillips said. In total, the auction house sold 75% of items on offer.Other notable items included a ring bearing an old European-cut, 12.66-carat, I color, SI1-clarity diamond, which went for $289,800, within its estimate. A necklace with a total of approximately 95 carats of diamonds sold for $277,200. The piece, which converts into a smaller necklace and three brooches, was within its presale price. Meanwhile, a ring featuring a cushion-shaped modified brilliant-cut, 5.05-carat, D-color, internally flawless diamond, fashioned in the rose-cut style that harks back to the 1400s when each facet was cut by hand, brought in $252,000, within its estimate.However, a number of top items failed to find buyers. Those included an emerald-cut, 17.62-carat, D-color, VVS1-clarity diamond ring that was expected to fetch up to $1.3 million, and a cushion-shaped mixed-cut Kashmir sapphire and diamond ring, which carried an $800,000 high estimate. A ring containing a cushion-shaped, 25.56-carat cabochon emerald also didn't sell. That jewel was estimated at up to $600,000.Image: The 43.15-carat yellow diamond ring. (Phillips)