Six of the top 10 lots on offer at a recent jewelry sale at Phillips in Geneva went unsold, as many items did not meet their estimates.
The leading item, a 53.14-carat, fancy-vivid-yellow, internally flawless diamond pendant, suspended from a round brilliant diamond, was expected to bring in up to CHF 3.1 million ($3.5 million) at the May 12 Geneva Jewels Auction: IV, according to Phillips. However, it failed to find a buyer, as did a Van Cleef & Arpels sapphire and diamond ring with a top price of CHF 1.3 million ($1.5 million) and a heart-shaped, 1.85-carat, fancy-vivid-orangey-pink diamond ring with a high estimate of CHF 880,000 ($1 million).
Of the items that sold, many surpassed their high estimates. In total, 80% of lots on offer found buyers, with bidders from more than 40 countries participating. Overall, the sale brought in CHF 7.6 million ($9 million).
“Demand was particularly strong for Art Deco jewels and natural pearls, both of which achieved 100% sell-through rates,” said Benoit Repellin, worldwide head of jewelry for Phillips. “We also saw continued enthusiasm for signed jewels.”
Here are the top 10 pieces that sold at the auction:
Main image: The six top pieces that didn’t sell. (Phillips)
