Bulgarı Necklace Scores $3.4M at Phıllıps Hong Kong

A sapphire and diamond necklace by Bulgari was the top seller at the recent Jewels & Jadeite auction from Phillips in Hong Kong.

The piece, set with a cushion-shaped, 118.35-carat sapphire and diamonds, brought in $3.4 million, within its estimate, Phillips said Tuesday. In total, the May 23 auction garnered $7.5 million, with 91% of goods on offer selling.

“The Jewels & Jadeite auction this season saw strong demand,” said Benoît Repellin, worldwide head of jewelry at Phillips. “The auction witnessed an unprecedented level of online participation, with half of the lots being sold to online bidders.”