ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
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
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
SourcingDec 30, 2025
India Chosen as KP Chair for 2026It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
CollectionsDec 30, 2025
Rahaminov Diamonds Pops Up in FloridaIts residency at Yamron Jewelers will run through May 2026.
IndependentsDec 29, 2025
In Memoriam: Industry Friends We Lost in 2025From influential executives to innovative designers, we pay tribute to the people we said goodbye to this year.
MajorsDec 29, 2025
Tanishq Opens New Stores in Florida, VirginiaThe retailer is expanding into areas with large Indian and South Asian populations.
MajorsDec 29, 2025
Nanis Opens First Flagship Store The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.
SourcingDec 29, 2025
‘Unearthed: Raw Beauty’ Exhibition Opens at LA MuseumThe new curation at the Natural History Museum of Los Angeles County showcases rare gem and mineral specimens in their uncut, natural state.
