AuctionsDec 17, 2021
Phillips Names New Head of Jewelry in EuropeAuctionsDec 23, 2021
Phillips Sold 100% of the Watch Lots It Put Up for Auction in 2021
The results came during a record year for the auction house.
This Patek Philippe Ref. 2523 with an enamel dial sold for $7.8 million at Phillips Geneva in May, contributing to a record year for Phillips auction house.
New York—Phillips has achieved a record year.
The auction house said its watches department saw a white glove year in 2021, meaning it sold 100 percent of the lots offered at auction across Geneva, Hong Kong, and New York, totaling $209.3 million, both of which are a first for it.
Its top watch lot this year was a Patek Philippe Ref. 2523, a yellow gold world-time wristwatch with two crowns and “Eurasia” cloisonné enamel dial that sold for $7.8 million in Geneva in May.
Those watch auction results are just part of a larger story for Phillips this year, in which global auction sales were up 35 percent compared with pre-pandemic 2019 to $993.3 million.
Private sales, meanwhile, were up to $208.2 million, pushing Phillips past the $1 billion mark in total global sales for 2021 to mark its most successful year yet.
Phillips’ total jewelry auction sales numbers for 2021 nearly doubled year-over-year, up 91 percent to more than $40 million.
The auction house achieved a record year for jewelry auctions in Asia, as per a separate press release, with two live auctions—“Jewels & Jadeite” and “Sensational Jewels from a Prominent Middle Eastern Collector”—achieving a combined total of $18.7 million, a 108 percent increase over last year.
In the “Treasures from Zambia: An Exceptional Emerald Collection” sale, a 56.87-carat Zambian emerald and diamond pendant necklace (pictured below) sold for $1 million to lead the sale.
Other notable highlights for the auction house in 2021 are that its sell-through rate was 91 percent and that 50 percent of buyers in both online-only and live auctions were first-time buyers.
Additionally, 100 percent of NFTs (non-fungible tokens) have sold, a category helping the auction house reach and engage with a new audience, it said.
Online-only auction totals were up 417 percent over 2019 and 68 percent over 2020, marking a record year for the channel.
Along with this success is the news that Phillips will open a new state-of-the-art exhibition space and salesroom in Hong Kong’s West Kowloon Cultural District next fall.
Its new headquarters in the WKCDA Tower will comprise more than 48,000 square feet over six floors, including three lower retail floors, two upper floors of exhibition space, and one floor for offices.
Related stories will be right here …
The auction house said its watches department saw a white glove year in 2021, meaning it sold 100 percent of the lots offered at auction across Geneva, Hong Kong, and New York, totaling $209.3 million, both of which are a first for it.
Its top watch lot this year was a Patek Philippe Ref. 2523, a yellow gold world-time wristwatch with two crowns and “Eurasia” cloisonné enamel dial that sold for $7.8 million in Geneva in May.
Those watch auction results are just part of a larger story for Phillips this year, in which global auction sales were up 35 percent compared with pre-pandemic 2019 to $993.3 million.
Private sales, meanwhile, were up to $208.2 million, pushing Phillips past the $1 billion mark in total global sales for 2021 to mark its most successful year yet.
Phillips’ total jewelry auction sales numbers for 2021 nearly doubled year-over-year, up 91 percent to more than $40 million.
The auction house achieved a record year for jewelry auctions in Asia, as per a separate press release, with two live auctions—“Jewels & Jadeite” and “Sensational Jewels from a Prominent Middle Eastern Collector”—achieving a combined total of $18.7 million, a 108 percent increase over last year.
In the “Treasures from Zambia: An Exceptional Emerald Collection” sale, a 56.87-carat Zambian emerald and diamond pendant necklace (pictured below) sold for $1 million to lead the sale.
Other notable highlights for the auction house in 2021 are that its sell-through rate was 91 percent and that 50 percent of buyers in both online-only and live auctions were first-time buyers.
Additionally, 100 percent of NFTs (non-fungible tokens) have sold, a category helping the auction house reach and engage with a new audience, it said.
Online-only auction totals were up 417 percent over 2019 and 68 percent over 2020, marking a record year for the channel.
Along with this success is the news that Phillips will open a new state-of-the-art exhibition space and salesroom in Hong Kong’s West Kowloon Cultural District next fall.
Its new headquarters in the WKCDA Tower will comprise more than 48,000 square feet over six floors, including three lower retail floors, two upper floors of exhibition space, and one floor for offices.
More on Auctions
The Latest
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
