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.
AuctionsMay 16, 2017
Patek Philippe Owned by an Emperor Sold for $2.9M at Auction
A previously unknown version of a Patek Philippe 2479 wristwatch topped Christie’s “Rare Watches” sale.
Geneva--The “Bao Dai” Rolex isn’t the only wristwatch previously owned by an emperor making news in Geneva this week.
Hot on the heels of the record-setting Rolex, a rare Patek Philippe watch with an equally interesting origin story sold for $2.9 million Monday at Christie’s Rare Watches and a Rolex Afternoon sale held at the Four Seasons Hotel des Bergues in Geneva. The final selling price was nearly three times the high end of the watch’s pre-sale estimate.
The Patek Philippe Ref. 2497 wristwatch is the only one of its reference to feature its particular style of military-esque black dial with Arabic numerals and Alpha hands from the 1950s. The watch is in excellent condition and has never been restored.
According to Christie’s, the work was commissioned by Ing. Federico Bazzi, an entrepreneur and pilot based in Eritrea, and presented in Switzerland to Emperor Haile Selassie of Ethiopia in November 1954. (At the time, Eritrea formed a federation with Ethiopia.)
Selassie ruled Ethiopia as regent from 1916 to 1930 and emperor from 1930 to 1974. His reign was marked by his institution of the first written constitution of Ethiopia, the abolition of slavery and resisting Italian colonialism. He also was a central figure in the Rastafari religion, as he was seen as a messiah, though Selassie had no participation in the religion.
A year before his death, Selassie was deposed in a coup that triggered the Ethiopian Civil War.
The “Haile Selassie 2497” was presented as a gift to an unnamed person by Selassie years after he received it. Christie’s noted that the Department of Ethiopian Studies of Addis Ababa University confirmed that Selassie was in the habit of giving away wristwatches to “high profile acquaintances.”
To further add to the watch’s interesting ownership, the Patek Philippe Ref. 2497 was meant to go up for auction two years ago but was pulled from the sale at the last second.
It is a perpetual calendar wristwatch with sweep centre seconds and an engraved case back. The dial is solid 18-karat gold.
The unusual “alpha” hands were likely custom, despite the rarity of Patek Phillipe special requests, as 2497 references typically feature feuille or dauphine hands.
The black dial might be the most unexpected feature of this previously unknown style of watch. The only other 2479 with a black dial is from 1990.
Among the 280-plus lots the Patek Phillipe Ref.
More on Auctions
The Latest
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.
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.
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.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
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.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
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.
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.
