Phillips Auction in Hong Kong ends with mixed results
On November 25, 2019 Phillips auction house held its annual auction in Hong Kong. It ended up with mixed results even though they presented a well balanced and variety of Fancy Color Diamonds.
A 1.21 carat, Fancy Intense Blue Diamond with a VS1 clarity did not sell, even tough it was valued between $450k to $575k total or $372k to $475k per carat. The color was weak, and we can see the concentration of color only in the centre of the diamond under the table.
Several unmounted diamonds packaged under a collector’s package also failed to sell. The pre-sealed diamonds are nicely placed inside a sealed packaging. Although they are offered as a collector’s item, in reality it was probably offered as a “potential” investment. Even tough they are rare when we look at the full spectrum of diamonds, they are small in weight, mostly in the single digital weights, and therefore not having true potential of value increase potential.
Another nice Fancy Color Diamond went unsold. The 0.72 carat, Fancy Vivid Purplish Pink Diamond with a GIA certificate 1176060847 was estimated to be valued between $110k and $130k or $153k to $180k per carat.
The pink diamonds earring that had heart shapes pink diamonds over a carat each was sold for $783,117 total or $385,772 per carat.
We look forward to further report on future auctions.
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