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
More on Auctions
The Latest
MajorsApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
IndependentsApr 29, 2026
Dick Abbott to Retire From The EdgeThe Edge has announced its new CEO, as well as a new partnership with an investment firm focused on founder-led software businesses.
SourcingApr 29, 2026
De Beers’ Production Rises, Market Remains ‘Challenged’De Beers’ diamond production was up 17 percent in Q1, boosted by increased output at its mines in South Africa and Canada.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsApr 28, 2026
This North Carolina Jeweler Is Passing the TorchThe owners of Gregory Jewelers in Morganton, North Carolina, are heading into retirement.
SourcingApr 28, 2026
Doug Hucker Retires From ICAThe colored gemstone industry leader is heading into retirement after four years as the association’s CEO.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingApr 28, 2026
NDC Hires Tapestry Exec to Head Global Marketing Susie Dewey joins the Natural Diamond Council as its new chief marketing officer.
ColumnistsApr 27, 2026
Stop Treating Mother’s Day Like an AfterthoughtEmmanuel Raheb says jewelers need to start marketing early and make it easy for customers to pick a gift for mom.
IndependentsApr 27, 2026
Longnecker Jewelry Celebrates 30 YearsIn honor of the milestone, the Nebraska jeweler has debuted Leslie & Co., its new in-house jewelry brand.
MajorsApr 27, 2026
JBT Re-Elects Jeff Corey as Board ChairThe trade organization, which held its annual elections earlier this year, also added five new board members.
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
