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.
Editors' Picks
Sponsored by
The Latest
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars PendantThe “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.
CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
FinancialsAug 06, 2026
Brilliant Earth’s Q2 Sales Up 6%, Driven by High-Income ShoppersThe retailer said it had its biggest Mother’s Day ever, with strong demand for higher-priced jewelry.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
