Phillips to Offer 18ct. Diamond in New York

RAPAPORT... A 17.62-carat diamond ring is set to go up for auction at an upcoming Phillips jewelry sale, where it is expected to fetch up to $1.3 million.The emerald-cut, D-color, VVS1-clarity, type IIa diamond is the star of the June 2 New York Jewels sale, Phillips said last week. The stone is one of a number of special diamonds to be featured.The auction house will also sell an old European brilliant-cut, 43.15-carat, fancy-yellow, VS2-clarity diamond ring. The piece, which is accented with round brilliant-, single- and baguette-cut diamonds, carries a high estimate of $850,000. 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, will also go under the hammer. The jewel has a price tag of $220,000 to $320,000.Other notable items include a ring with a cushion-shaped mixed-cut, 7.03-carat Kashmir sapphire surrounded by 4.40 carats of round brilliant-cut diamonds, estimated at up to $800,000. A cushion-shaped, 25.56-carat, Colombian emerald ring is primed to sell for $400,000 to $600,000, while a ring with a cushion-shaped mixed-cut, 8.57-carat, Kashmir sapphire and diamonds has a presale estimate of up to $500,000. Meanwhile, a Harry Winston ring containing a rectangular cut-cornered step-cut, 10.03-carat emerald has a price of up to $360,000. Phillips will also offer a significant private collection of jewels."This season, we are delighted to present one of our strongest New York Jewels sales to date," said Sara Thomeier, head of jewels for the Americas at Phillips. "The auction includes a private collection of over 70 jewels of exceptional quality, which were meticulously acquired and have remained a significant part of a collection that includes jewelry from every important design period going back to the 1700s. The demand for rare and interesting jewels has been stronger than ever."Image: The 17.62-carat diamond. (Phillips)