MajorsJul 26, 2024
Diamonds Direct Opens Store in AtlantaIt’s the Signet-owned banner’s first location in Georgia.
AuctionsMay 15, 2018
The King’s Omega Watch Sets an Auction Record
Elvis’ white gold and diamond wristwatch went for $1.8 million, setting a new record for an Omega at auction.
The Omega “Elvis Presley” watch seen here was given to the musician in 1961 to mark selling 75 million albums. It garnered $1.8 million at auction in Geneva over the weekend.
Geneva--The watch given to the King of Rock and Roll to mark a major milestone is now the most expensive Omega timepiece sold at auction.
As part of the “Geneva Watch Auction: Seven” sale held over the weekend, Phillips, in association with Bacs & Russo, offered the historically important Omega “Elvis Presley” watch that RCA Records gave the singer in 1961. It sold for CHF 1.8 million ($1.8 million).
Phillips beat its own record for most expensive Omega timepiece ever sold at auction, previously held by a stainless steel Omega tourbillon that sold for CHF 1.4 million during “Geneva Watch Auction: Six” in November 2017.
Presley signed with recording label RCA Records in 1955, launching a career that would make him a music phenomenon who would go on to sell an unprecedented amount of records.
He was drafted into the U.S. Army and served from 1958 to 1960, but RCA continued to release songs that had been pre-recorded in anticipation of his absence.
By Christmas of 1960, Presley had two movies in theaters as well as the No. 1 music single in both the United States and the United Kingdom. Still, RCA was eager for his return.
According to Phillips, Presley reached a record 75 million albums sold on Dec. 25, 1960.
To celebrate this event and re-establish the Memphis resident as a performer, RCA planned a celebratory charity event and concert on Feb. 25, 1961, which the governor of Tennessee dubbed “Elvis Presley Day.”
It was there RCA presented Presley with the 18-karat white gold and diamond Omega wristwatch, which was purchased at Tiffany & Co. The case back, as seen below, is inscribed: “To Elvis, 75 Million Records, RCA Victor, 12-25-60.”
According to Phillips, the watch was given to the current owner’s uncle by Presley, who traded him the Omega for his diamond-set Hamilton.
Phillips said Presley was known to give away some of the watches he bought or was given, with a few of them coming up at auction in the past, though Phillips noted this one is unique in marking such a significant achievement in his career.
Presley was photographed wearing the watch at the charity concert, and the Elvis Presley Museum also gave it certificates of authenticity.
The sale in which the timepiece was sold was part of an auction weekend that brought in a total of CHF 45 million ($45 million) for Phillips.
“Geneva
Watch Auction: Seven” totaled CHF 23 million ($23 million), while the “Daytona Ultimatum” sale, featuring 32 rare Rolex Cosmograph Daytona timepieces in a sale curated by renowned watch scholar Pucci Papaleo, totaled CHF 22.2 million ($22.2 million).
In addition to the Elvis Omega, records set over the weekend included the $5.9 million sale of “The Unicorn” Rolex at the Daytona sale, which became the second most expensive Rolex sold at auction, and the highest result achieved by an A. Lange & Söhne timepiece at auction with the sale of a unique stainless steel “1815 Homage to Walter Lange” for CHF 852,500 (about $849,700).
In addition to the Elvis Omega, records set over the weekend included the $5.9 million sale of “The Unicorn” Rolex at the Daytona sale, which became the second most expensive Rolex sold at auction, and the highest result achieved by an A. Lange & Söhne timepiece at auction with the sale of a unique stainless steel “1815 Homage to Walter Lange” for CHF 852,500 (about $849,700).
More on Auctions
The Latest
TrendsJul 26, 2024
Piece of the Week: Bea Bongiasca’s ‘Double Loop’ EarringsCommemorate “brat summer” with these green hoops.
EditorsJul 26, 2024
Out & About: A Dispatch from the Nation’s Smallest StateEditor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
Brought to you by
The End of an Era? Lab-Grown Diamonds' Journey Towards Price StabilityAs the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
Supplier BulletinJul 25, 2024
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionSponsored by Gemological Institute of America
Weekly QuizJul 25, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyJul 25, 2024
Amazon, BBB Sue Website Allegedly Peddling Fake Reviews They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
SourcingJul 25, 2024
De Beers’ H1 Revenue Falls 21% in ‘Weak’ MarketLab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionGIA®’s most advanced microscope has new features to optimize greater precision and comfort.
IndependentsJul 25, 2024
Store Designer Ruth Mellergaard DiesA longtime member of IJO, she’s remembered for her passion for design, learning, and environmentalism.
FinancialsJul 25, 2024
Boucheron, Pomellato Post Double-Digit Growth in Q2 The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
MajorsJul 25, 2024
Shane Co. Partners With Kids In Need Foundation to Donate 7,200 BackpacksThe fine jewelry retailer filled backpacks with back-to-school essentials for students in 13 states.
FinancialsJul 24, 2024
LVMH’s First-Half Jewelry, Watch Sales Dip 5%Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
MajorsJul 24, 2024
See Chaumet’s Paris Olympic Medals Inspired by its High JewelryThe Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
MajorsJul 24, 2024
Jewelers Mutual Acquires Pawnbroker Insurance ProviderUnion Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
MajorsJul 24, 2024
Ben Bridge Announces 2024 Lonia Tate Scholarship WinnerLos Angeles-based Bradlei Smith was selected for this year’s award.
ColumnistsJul 23, 2024
Peter Smith: The Case for Optimism in Sales In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
SourcingJul 23, 2024
De Beers’ Production Drops 15% in Q2The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
IndependentsJul 23, 2024
Long’s Jewelers Is Giving Away a Luxury Cape Cod VacationThe giveaway is part of the New England jeweler’s summer bridal event.
CollectionsJul 23, 2024
Guzema Debuts ‘Flower Power’ CampaignThe ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
Policies & IssuesJul 23, 2024
Diamonds Do Good Announces Its 2024 Entrepreneurship Grant WinnersThe grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.
CrimeJul 22, 2024
Florida Jeweler Shot, Killed Following Argument With CustomerGhazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
Policies & IssuesJul 22, 2024
JVC’s Elyssa Jenkins-Pérez Joins RJCThe organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.
SourcingJul 22, 2024
AWDC Names Karen Rentmeesters as CEORentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
IndependentsJul 19, 2024
Longtime D.C. Jeweler Brian Mann Dies at 70Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
IndependentsJul 19, 2024
The 1916 Company Opens New Tudor BoutiqueThe 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
CollectionsJul 19, 2024
Piece of the Week: Messika’s ‘So Move Max’ NecklaceDance all night long with the “So Move Max” set’s necklace.
WatchesJul 18, 2024
TAG Heuer, Hublot Will Have New CEOs Luxury giant LVMH is reshuffling the leadership in its watches division.
