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
ColumnistsFeb 04, 2026
January Jewelry Sales: More Dollars Spent, Fewer Units Sold Sherry Smith unpacks independent retailers’ January performance and gives tips for navigating the slow-growth year ahead.
MajorsFeb 04, 2026
What Designers Should Know About Saks Global’s BankruptcyFrom how to get an invoice paid to getting merchandise returned, JVC’s Sara Yood answers some complex questions.
TrendsFeb 04, 2026
Amanda’s Style File: February Birthstone BlissAmethyst, the birthstone for February, is a gemstone to watch this year with its rich purple hue and affordable price point.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 04, 2026
Marco Bicego Names New Global Marketing DirectorThe Italian jewelry company appointed Matteo Cuelli to the newly created role.
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 04, 2026
Frederick Goldman Updates Leadership TeamThe manufacturer said the changes are designed to improve speed, reliability, innovation, and service.
Policies & IssuesFeb 03, 2026
Tariff Relief on Horizon for India as Trump, Modi Make DealPresident Trump said he has reached a trade deal with India, which, when made official, will bring relief to the country’s diamond industry.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
CollectionsFeb 03, 2026
Jade Trau Releases New Charms, Introduces RondellesThe designer’s latest collection takes inspiration from her classic designs, reimagining the motifs in new forms.
WatchesFeb 03, 2026
Casio America Calls Jersey City HomeThe watchmaker moved its U.S. headquarters to a space it said fosters creativity and forward-thinking solutions in Jersey City, New Jersey.
SourcingFeb 03, 2026
Nivoda Reveals Upgraded Gemstone MarketplaceThe company also announced a new partnership with GemGuide and the pending launch of an education-focused membership program.
GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
