Phillips Hong Kong Jewels And Jadeite Auction Disappointing
Phillips Hong Kong Auction today had a rough time as almost half of the items offered failed to sell; continuing the trend like other auction houses this year.
Only 74 out of 132 items offered sold, and 5 out of 7 items I covered in Fancy Color Diamond did not sell.
The 2.63 Carat, Fancy Pink ring did not sell. It was valued between $360k to $420k total, which means the minimum value of $360k or $137k per carat was not met. Most likely it did not reach the minimum due to the low clarity of the diamond, being an I clarity.

Image Credit: Phillips
The 1.23 Carat, Fancy Gray-Blue diamond with SI1 clarity also went back home after it failed to reach the minimum $180k bid.

Image Credit: Phillips
The 2.04 Carat, Light pink was valued between $130k to $150k and ended up selling for $141k total, within the range of valuation.

Image Credit: Phillips
The earrings with the 0.73 carat and 0.70 carat, Fancy Intense Pink round diamonds were sold for $147.4k total after being valued at between $110k to $120k total. As we discussed, it sold slightly higher than the range.

Image Credit: Phillips
The 4.01 Carat, Fancy Vivid Yellow Diamond ring also failed to sell going back home after it did not reach the $100k minimum. The color was weak.

Image Credit: Phillips
The 1.25 carat Very Light Pink with a VS1 clarity and a 1.18 carat Fancy Yellow with a VS2 clarity twin ring set did not sell as expected. The ring was valued between $48k to $58k total. The minimum bid was not reached.

Image Credit: Phillips
The 3.86 carat, Fancy Yellow-Green Diamond with an SI1 clarity was offered at between $45k to $55k in total or $11.7k to $14.2k per carat. It did not reach the minimum valuation, and as a result, went back to its owners.

Image Credit: Phillips
I suspect that the high buyer’s premium on smaller items, these items failed to sell, as explained prior to the auction.

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