International News
53-Carat Yellow Diamond to Headline Phillips Geneva Auction, Expected to Fetch $3.5 Million
A stunning fancy-vivid-yellow diamond pendant will lead the May 12 auction, part of a prestigious collection celebrating 100 years of Art Deco design.
A remarkable 53.14-carat yellow diamond, set in a pendant and expected to reach up to CHF 3.1 million ($3.5 million), will be the star attraction at Phillips’ upcoming Geneva Jewels Auction IV on May 12. The internally flawless, fancy-vivid-yellow diamond, suspended from a round brilliant diamond, will lead the auction’s offerings, which will mark the 100th anniversary of Art Deco with a curated selection of rare and valuable pieces.
Alongside this extraordinary yellow diamond, the auction will feature items from prestigious design houses such as Van Cleef & Arpels, Cartier, Bulgari, Graff, and Buccellati, as well as pieces from renowned collections. Phillips will preview select items in cities including Hong Kong, New York, Singapore, and London.
Benoit Repellin, worldwide head of jewelry for Phillips, expressed excitement about the auction, highlighting the superb collection of colored gemstones and Art Deco masterpieces. Other standout items in the sale include a pair of D-Flawless diamond earrings, a Van Cleef & Arpels ring featuring a 7.10-carat Kashmir sapphire, and a heart-shaped fancy-vivid-orangey-pink diamond ring, among others.
The auction will also offer a range of rare gemstones, including a 122.77-carat Paraiba tourmaline, Burmese rubies, and a Serpenti wristwatch by Bulgari, all of which are expected to attract strong interest from collectors.
DiamondBuzz
Rio Tinto’s Diamond Division Posts $79 Million EBITDA Loss in 2025
Higher output from Canada’s Diavik Diamond Mine offsets revenue decline, but end-of-life pressures continue to weigh on performance.
Rio Tinto reported a challenging year for its diamond business in 2025, posting an underlying EBITDA loss of $79 million despite improved revenues. While the loss narrowed compared to the $115 million deficit recorded in 2024, the division remained under pressure amid a global diamond market slowdown and the nearing closure of its last active mine.
Annual revenue rose 19% to $332 million, supported by stronger production at the Diavik mine in Canada, Rio Tinto’s only remaining diamond operation. Output climbed 61% to 4.4 million carats, driven by the ramp-up of mining activities in the underground section of the A21 deposit, which began scaling up in late 2024.
However, the A21 underground ore body is expected to be depleted by the end of the first quarter of 2026, marking the end of Diavik’s operational life. The company plans to spend approximately $1 billion this year on closure activities related to Diavik, as well as rehabilitation work at the former Argyle Diamond Mine, which ceased production in 2020, and other non-diamond projects.
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