A 23.34-carat fancy-intense-yellow diamond ring led Phillips' Hong Kong Jewels Auction on September 29, 2026, selling for HK$4.3 million (about $550,810) — beyond its high estimate — as the 91-lot sale totalled HK$37.2 million (roughly $4.7 million). The sale drew on signed pieces from Van Cleef & Arpels, Cartier and Graff. A pair of Harry Winston ruby ear clips achieved HK$2.1 million, followed by a pair of fancy-brown-yellow diamond earrings at HK$2 million, a Mozambican ruby ring at HK$1.7 million and a heart-shaped yellow diamond ring-and-pendant suite at HK$1.6 million. Coloured stones drove the sale from start to finish. The top lot's price above estimate was the clearest signal of depth in the room, but strength was not confined to it: the ruby ear clips, the yellow-diamond earrings and the Mozambican ruby ring all landed well, suggesting demand at the top of the Hong Kong market is broad rather than concentrated in a single lot. The 91 lots offered on September 29 covered both classic signed jewellery and exceptional coloured stones, and bidding appeared steady across the board. The results reflect a pattern now well established in the Asian jewellery market: exceptional coloured diamonds and rubies are among the surest currencies at auction, and the evening's five lots above HK$1.6 million underlined that appetite as the autumn season gets fully under way. Coming just a day after Phillips' record-breaking charity watch sale in London, the Hong Kong jewels result gave the house a strong start to the final quarter across two categories.