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Interface News Reporter | Huang Shan

Interface News Editor | Lou Qiqin

The cooling trend in the watch market has also spread to the auction market.

2024In the first half of the year,PhillipsPhillips Watch Auctions is the only New York auction house to maintain“White Gloves”record, while both Hong Kong and Geneva auctions failed to continue their previous full“White Gloves”Phillips Watches has always been at the top of the global watch auction market.

This trend is2024Since 2011, the high-end watch industry has been facing a cold market in mainland China and Hong Kong. According to the data of the Federation of the Swiss Watch Industry,2024Swiss watch exports fell in the first half of the year3.3%Among them, the sales volume of the Chinese mainland and Hong Kong markets, which account for the largest share of Swiss watch exports in the world, declined year-on-year.21.6%and19.9%。

2021Year and2022The watch auction was held in5The best year in 2017. Phillips Watch Auction has achieved the best sales in the past two years.“White Gloves”record, largely thanks to the performance of the Asian market. However, as buyers2023In 2017, only two auction markets, Hong Kong and New York, continued to maintain their sales throughout the year.“White Gloves”Record.

However, when jewelry auctions were cooling down, the jewelry auction market remained prosperous.

2024In the first half of the year, Phillips’ jewelry business achieved a total auction turnover of2023Significant year-on-year growth191%Among them, during the Phillips Geneva Spring Auction, a6.21Carat Fancy Vivid Pink Diamond Ring108610,000 Swiss francs (approximately9127.89The sale price was RMB 10,000,000, setting a record for the highest price ever paid for any auction held in Geneva that quarter.

Also in Geneva, Switzerland,Sotheby’sSotheby's auction house5Held in the month“Magnificent Jewels”The auction transaction rate reached97%, one of which weighed202carats of yellow diamonds were finally sold in Swiss francs60010,000 (approximately5043.03RMB 10,000) was sold.

Back to the Asian market, jewelry auctions also performed very well.2024In the first half of 2019, Hong Kong’s jewellery auction market showed strong resilience, with many high-quality jewellery lots sold at strong prices, highlighting that in the current market environment, high-quality jewellery is still considered to have investment value.

Sotheby's Hong Kong2024During the spring auction of 2017, a pair of shoes designed by Cartier were sold.“India Tutti Frutti”Gemstone necklace, sold for6800The pre-auction estimate for this Cartier antique is2800Wanzhi3800The final transaction price doubled1This jewel is a very representative emerald necklace in Cartier’s history, deeply influenced by Indian culture, inlaid with a variety of rare gemstones and high-quality diamonds.

At the Phillips Hong Kong Spring Sale, the most eye-catching lot was a15.51Carat round brilliant cut yellow diamond ring, the ring sold for890Million Hong Kong dollars.

Another one was born in1985Van Cleef & Arpels (Van Cleef & Arpels) Turquoise and diamond necklace457The necklace was sold for HK$10,000,000, making it the second most expensive jewelry lot at Phillips Hong Kong in the quarter. But it is worth noting that the stock price of this necklace was only90Wanzhi120This means that Asian collectors' desire for top-quality jewelry is very strong, far exceeding market expectations.

It is worth noting that the entire Greater China market2024The performance of the consumer market for diamond and gold jewelry has not been very good so far in 2019, but it is clear that there is still strong interest in the top buying prices in the primary and secondary markets for high-end jewelry. Of course, the buyers of these jewelry lots are not all private collectors, and about half of the buyers are jewelry market professionals or institutions.

Global Head of Jewelry at PhillipsBenoit Repellinexist2024Year5Professional jewelry mediaSolitaireIn an interview, he said that among the collectors who bought jewelry auctions in the past year, private collectors and professional jewelers each accounted for half. The pink diamond ring mentioned above was purchased by a private collector.38010,000 Swiss francs (approximately3193.9210,000 RMB) of vivid red pink diamond“Argyle Phoenix”isGraffThe jewelry was purchased by the founder, and the transaction price is the pre-auction valuation.2Times as much.

The transaction performance in the first half of the year also shows the current preference trend of jewelry auctions. In terms of antique jewelry, jewelry brands such as Cartier and Van Cleef & Arpels have made profound achievements in the field of high-end jewelry, and their brand value has been further consolidated in the current jewelry market. Their antique works will always be sought after by private collectors in the auction market.

At the same time, high-quality pink diamonds, yellow diamonds and other rare colored diamonds are still in great demand in the market. Even though the price of small-carat natural diamonds is still low, large-carat white diamond rings with exquisite cutting and high grade can still be sold at a good price. In terms of rare gemstones, high-quality sapphires, jadeite and emeralds will also be particularly favored by collectors.

2024There will still be some high-quality collections and lots in the jewelry auction market in the second half of the year, and the performance of this market is still worth paying special attention to. In fact, auction houses have sensed the prospect of a prosperous jewelry auction market earlier and made preparations in advance.

2023In 2005, Phillips further expanded its jewelry department, held its first jewelry auction in Geneva, and achieved203010,000 Swiss francs (approximately1.7061 billion RMB) in sales. Previously, Phillips had not held jewelry auctions in Geneva, Hong Kong and New York. With the expansion of jewelry auctions, Phillips Geneva has contributed51.3%of jewelry auction proceeds.