The total value was 125% higher than during the last auction season in June, said Benoît Repellin, worldwide head of jewelry at Phillips, in a statement Monday. The company sold 87% of available lots, or 92% by value. The Jewels and Jadeite auction took place on Sunday at Hong Kong’s JW Marriott hotel.

Benoît Repellin, Worldwide Head of Jewellery, Phillips said: “We are very encouraged by this season’s Jewels and Jadeite auction results which increased by 125% over the previous season. The sale in Hong Kong drew wide participation and intense bidding by collectors from across 40 countries/ regions, resulting in high sell through rates of 92% by value and 87% by lot. The results prove that the market for colourless and coloured diamonds continue to be robust and particularly sought after. The sale was led by a 26.12 carat D-Flawless (Type IIa) diamond, which fetched HK$19.6 million/ US$2.5 million. In addition, a 2.04 carat fancy intense pink diamond ring ignited intense bidding with 27 bidders and eventually sold for HK$7.1 million/ US$914,816, 3.5 times above its pre-sale high estimate. The sale also seen an unprecedented level of online bidding activity, with 78% of total participants were participating in the sale online. We welcome you to browse our Jewels: Online Auction which will run until 1pm HKT on 1 December and offers something for those beginning their collecting journeys and seasoned collectors alike. We also look forward to continuing this strong momentum in New York’s Jewels Auction on 13 December.”