Jewelry Auctions Are Booming, So Phillips Is Adding a Major New Sale in Geneva
Jewelry auctions are having a good year so far. According to The Mercury Project, a Swiss firm that monitors jewelry and watch sales at auction, sales of jewelry at Christie’s, Sotheby’s, Phillips, Antiquorum and Bonhams for the first half of 2023 increased by 45 percent (while watch sales declined by 18 percent). Therefore, It is no surprise that Phillips has announced it will start holding jewelry auctions in Geneva, starting this November, thus adding Europe to its jewelry sale territories.
Phillips already auctions jewelry in New York and Hong Kong, where it achieved historic annual sales totals in 2021 and 2022, and clocked an impressive 185 percent increase in value during fall 2022 compared with spring 2022. The auction house has been beefing up its jewelry department in recent years, and last May appointed Benoit Repellin as its new worldwide head of jewelry. Repellin joined Phillips a year ago as head of jewelry, Europe. Prior to that, he spent nearly 10 years at Sotheby’s, where he was eventually director and head of Magnificent Jewels sales. He has conducted many jewelry auctions in Europe and will work with collectors and dealers worldwide to fortify the offerings at Phillips.
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Phillips achieved a record annual total for global jewelry auctions in 2021, posting a 75 percent increase from 2019, and posted a record year in 2022 for jewelry auctions in Asia, with the November sales in Hong Kong up significantly season over season. Phillips’ New York jewelry auction in June totaled $4.2 million, led by an Art Deco sapphire and diamond “Starfish” brooch by René Boivin ( $571,500) and a Bulgari diamond necklace ($228,600). It also included outstanding pieces by Suzanne Belperron, Harry Winston, Boucheron, and highly collectible pieces by Georges L’Enfant for Mauboussin.
The inaugural Geneva jewelry sale, to be held November 6, will include the sale of a private collection of 120 Art Deco objects, including boxes, vanity cases, timepieces, and objects from prestigious names such as Cartier, Van Cleef & Arpels, Raymond Templier, Sandoz, Ostertag, Lacloche Frères, Marchak, Tiffany & Co., Janesich, Jean Després, Black Starr & Frost, and Boucheron. The estimates range from no reserve to CHF 100,000 (about $115,000), offering a broad and reasonable spectrum of price points.
“This lovingly assembled collection pays homage to the discerning eye of the collector, who thoughtfully selected the finest jewelry houses and designers of the Art Deco period,” says Repellin. “It captures the diverse styles and trends of the era, from elaborate and bejeweled designs to those with clean lines and geometric forms.” The sale also includes pieces from various owners, made by renowned houses such as Cartier and Van Cleef & Arpels.
In the bigger picture, Christie’s leads the pack in jewelry auctions so far this year, with sales of CHF 377 million (about $436 million) according to the Mercury Report—an increase of 68 percent over last year—including rare pieces by Cartier, Harry Winston, and Bulgari. At Sotheby’s, jewelry sales were up 20 percent to CHF 270 million (about $312 million), driven by unbranded jewels, such as an exceptional ruby weighing 55.22 carats sold at a record price of CHF 31.3 million (about $36 million) in New York. In Geneva, an exceptional and rare fancy vivid blue diamond Bulgari ring sold for CHF 22.6 million (about $26 million). The race is on!
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