AuctionsMar 20, 2024
Vintage Baume & Mercier Gifted by Elvis Going Up for AuctionAuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an Hour
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Jacqueline Dimier, Audemars Piguet’s head of product design for more than two decades, designed this emerald-set car watch in 1985. The timepiece, which Sotheby’s said is probably a one-of-a-kind, sold for almost $120,000 at the “Rough Diamonds” auction.
Geneva—Sotheby’s “Rough Diamonds” did not have a hard time finding buyers last week in Geneva, with all 24 lots selling in less than an hour, the auction house said.
Rough Diamonds is what Sotheby’s dubbed its sale of unusual and avant-garde watches that it organized in partnership with creative collective heist-out.
The auction, featuring watches mainly from the ‘70s, ‘80s, and ‘90s, was billed as a “gender-free” concept watch sale and took place underground, literally.
After three days of public exhibition, the watches were auctioned off Thursday evening in the subterranean wine cellar at Geneva event space La Corne à Vin.
All told, Rough Diamonds garnered 1.13 million Swiss francs ($1.3 million), with 15 of the 24 lots topping their highest pre-sale estimates.
“‘Rough Diamonds’ was born from the desire to bring to market a concept watch sale that truly resonated with collectors,” Josh Pullan, global head of Sotheby’s luxury division, said. “The results of tonight’s sale, with all 24 lots selling to such a diverse and enthusiastic group of buyers, has validated that vision, which we shared with heist-out, our passionate creative partners in this new project.
“The fact that the Gilbert Albert-designed Patek Philippe—the most idiosyncratic and extravagant lot in the sale—has become the most valuable lot sold tonight proves there is a definite appetite amongst buyers for non-conformist and boldly eccentric timepieces presented in a differentiated context.”
Related stories will be right here …
Rough Diamonds is what Sotheby’s dubbed its sale of unusual and avant-garde watches that it organized in partnership with creative collective heist-out.
The auction, featuring watches mainly from the ‘70s, ‘80s, and ‘90s, was billed as a “gender-free” concept watch sale and took place underground, literally.
After three days of public exhibition, the watches were auctioned off Thursday evening in the subterranean wine cellar at Geneva event space La Corne à Vin.
All told, Rough Diamonds garnered 1.13 million Swiss francs ($1.3 million), with 15 of the 24 lots topping their highest pre-sale estimates.
“‘Rough Diamonds’ was born from the desire to bring to market a concept watch sale that truly resonated with collectors,” Josh Pullan, global head of Sotheby’s luxury division, said. “The results of tonight’s sale, with all 24 lots selling to such a diverse and enthusiastic group of buyers, has validated that vision, which we shared with heist-out, our passionate creative partners in this new project.
“The fact that the Gilbert Albert-designed Patek Philippe—the most idiosyncratic and extravagant lot in the sale—has become the most valuable lot sold tonight proves there is a definite appetite amongst buyers for non-conformist and boldly eccentric timepieces presented in a differentiated context.”
Though the timepieces were unusual, the brand of watch that landed the spot as the sale’s top lot was not.
A bidder paid CHF 393,700 ($435,727) for a bracelet watch, ring, and necklace Swiss jeweler Gilbert Albert designed for Patek Philippe in 1962, nearly eight times its highest pre-sale estimate of CHF 50,000 ($55,253).
Gilbert Albert designed this Patek Philippe suite in the 1960s. A buyer paid more than $400,000 for it at Thursday’s “Rough Diamonds” auction.
The watch, ring and necklace are 18-karat yellow gold set with enamel and pearls.
The second highest-grossing diamond in the rough was Audemars Piguet’s “Cobra Royal Khanjar” from 1985, so named because of its snake-like bracelet.
The 18-karat white gold Audemars Piguet “Cobra Royal Khanjar” topped its highest pre-sale estimate, selling for more than $180,000.
The sleek white gold watch topped its highest pre-sale estimate of CHF 100,000, selling for CHF 165,100 ($182,724).
Rounding out the auction’s top three was another Audemars Piguet, this one designed in 1985 by Jacqueline Dimier, the brand’s head of product design from 1975 to 1999.
The watch (pictured at top of article) is in the shape of a green car, with the emerald- and diamond-set automobile flipping open to reveal a tiny mother-of-pearl watch face.
It sold for CHF 107,950 ($119,474), topping its highest pre-sale estimate of CHF 80,000 ($88,382).
To see the full results of the Rough Diamonds sale, visit the Sotheby’s website.
More on Auctions
The Latest
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
Events & AwardsOct 08, 2026
Pattons Fine Jewelry Sweeps Local Design ContestAra Chanakian, a jeweler at Pattons, took home top honors in every category at Jewelers of Louisiana’s annual jewelry design competition.
