Phillips’ New York Jewels auction, held on December 9, brought some strong results for diamond jewellery. The sale was led by a Tiffany & Co. Fancy Intense blue diamond and platinum ring which was sold for $1.64 million, beating its low pre-sale estimate of $1.5 million.

The 3.02-carat diamond is a fancy intense, cut-cornered square modified brilliant-cut gem. Phillips previously said that Tiffany has re-cut the diamond to its highest quality, and that the mounted blue diamond has “optimum brilliance, fire and scintillation”.

The sale, which brought in a total of $5.4 million, included some other notable lots: A stunning necklace made of diamonds and gold, featuring a pear modified brilliant-cut fancy blue-gray diamond weighing 3.01 carats and round brilliant-cut and fancy-shaped colored diamonds, was sold for $500,000, beating its high pre-sale estimate of $450,000. A cut-cornered square step-cut fancy intense yellow diamond weighing 16.23 carats went for $275,000. Another notable lot – a diamond ring by Harry Winston, featuring an emerald-cut diamond weighing 11.34 carats and triangle-shaped diamonds totaling 1.45 carats – was estimated to sell for $500,000-$800,000, but failed to find a buyer.

FAQ Tiffany Blue Diamond Ring at Auction

What made the Tiffany blue diamond ring so valuable at the Phillips auction?

The Tiffany & Co. blue diamond ring sold for $1.64 million at Phillips’ New York Jewels auction on December 9, beating its low pre-sale estimate of $1.5 million. The ring featured a 3.02-carat fancy intense blue diamond in a cut-cornered square modified brilliant-cut setting mounted in platinum. According to Phillips, Tiffany had re-cut the diamond to its highest quality, ensuring the mounted blue diamond achieved “optimum brilliance, fire and scintillation,” which contributed significantly to its exceptional value and appeal to collectors.

How did other notable diamonds perform at the same Phillips auction?

The auction brought in a total of $5.4 million with mixed results for other high-value pieces. A stunning necklace featuring a 3.01-carat pear modified brilliant-cut fancy blue-gray diamond with round brilliant-cut and fancy-shaped colored diamonds sold for $500,000, exceeding its high estimate of $450,000. A 16.23-carat cut-cornered square step-cut fancy intense yellow diamond achieved $275,000. However, not all lots found buyers – a Harry Winston diamond ring featuring an 11.34-carat emerald-cut diamond with triangle-shaped diamonds totaling 1.45 carats, estimated at $500,000-$800,000, failed to sell.