AuctionsMar 20, 2024
Vintage Baume & Mercier Gifted by Elvis Going Up for AuctionAuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an Hour
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Jacqueline Dimier, Audemars Piguet’s head of product design for more than two decades, designed this emerald-set car watch in 1985. The timepiece, which Sotheby’s said is probably a one-of-a-kind, sold for almost $120,000 at the “Rough Diamonds” auction.
Geneva—Sotheby’s “Rough Diamonds” did not have a hard time finding buyers last week in Geneva, with all 24 lots selling in less than an hour, the auction house said.
Rough Diamonds is what Sotheby’s dubbed its sale of unusual and avant-garde watches that it organized in partnership with creative collective heist-out.
The auction, featuring watches mainly from the ‘70s, ‘80s, and ‘90s, was billed as a “gender-free” concept watch sale and took place underground, literally.
After three days of public exhibition, the watches were auctioned off Thursday evening in the subterranean wine cellar at Geneva event space La Corne à Vin.
All told, Rough Diamonds garnered 1.13 million Swiss francs ($1.3 million), with 15 of the 24 lots topping their highest pre-sale estimates.
“‘Rough Diamonds’ was born from the desire to bring to market a concept watch sale that truly resonated with collectors,” Josh Pullan, global head of Sotheby’s luxury division, said. “The results of tonight’s sale, with all 24 lots selling to such a diverse and enthusiastic group of buyers, has validated that vision, which we shared with heist-out, our passionate creative partners in this new project.
“The fact that the Gilbert Albert-designed Patek Philippe—the most idiosyncratic and extravagant lot in the sale—has become the most valuable lot sold tonight proves there is a definite appetite amongst buyers for non-conformist and boldly eccentric timepieces presented in a differentiated context.”
Related stories will be right here …
Rough Diamonds is what Sotheby’s dubbed its sale of unusual and avant-garde watches that it organized in partnership with creative collective heist-out.
The auction, featuring watches mainly from the ‘70s, ‘80s, and ‘90s, was billed as a “gender-free” concept watch sale and took place underground, literally.
After three days of public exhibition, the watches were auctioned off Thursday evening in the subterranean wine cellar at Geneva event space La Corne à Vin.
All told, Rough Diamonds garnered 1.13 million Swiss francs ($1.3 million), with 15 of the 24 lots topping their highest pre-sale estimates.
“‘Rough Diamonds’ was born from the desire to bring to market a concept watch sale that truly resonated with collectors,” Josh Pullan, global head of Sotheby’s luxury division, said. “The results of tonight’s sale, with all 24 lots selling to such a diverse and enthusiastic group of buyers, has validated that vision, which we shared with heist-out, our passionate creative partners in this new project.
“The fact that the Gilbert Albert-designed Patek Philippe—the most idiosyncratic and extravagant lot in the sale—has become the most valuable lot sold tonight proves there is a definite appetite amongst buyers for non-conformist and boldly eccentric timepieces presented in a differentiated context.”
Though the timepieces were unusual, the brand of watch that landed the spot as the sale’s top lot was not.
A bidder paid CHF 393,700 ($435,727) for a bracelet watch, ring, and necklace Swiss jeweler Gilbert Albert designed for Patek Philippe in 1962, nearly eight times its highest pre-sale estimate of CHF 50,000 ($55,253).
Gilbert Albert designed this Patek Philippe suite in the 1960s. A buyer paid more than $400,000 for it at Thursday’s “Rough Diamonds” auction.
The watch, ring and necklace are 18-karat yellow gold set with enamel and pearls.
The second highest-grossing diamond in the rough was Audemars Piguet’s “Cobra Royal Khanjar” from 1985, so named because of its snake-like bracelet.
The 18-karat white gold Audemars Piguet “Cobra Royal Khanjar” topped its highest pre-sale estimate, selling for more than $180,000.
The sleek white gold watch topped its highest pre-sale estimate of CHF 100,000, selling for CHF 165,100 ($182,724).
Rounding out the auction’s top three was another Audemars Piguet, this one designed in 1985 by Jacqueline Dimier, the brand’s head of product design from 1975 to 1999.
The watch (pictured at top of article) is in the shape of a green car, with the emerald- and diamond-set automobile flipping open to reveal a tiny mother-of-pearl watch face.
It sold for CHF 107,950 ($119,474), topping its highest pre-sale estimate of CHF 80,000 ($88,382).
To see the full results of the Rough Diamonds sale, visit the Sotheby’s website.
More on Auctions
The Latest
MajorsAug 26, 2024
Longtime Industry Sales Trainer Lenny Zell Dies at 97Said to be the first to write a jewelry sales manual for the industry, Zell is remembered for his zest for life.
WatchesAug 26, 2024
IWC Is Sending Its Watches to SpaceThe company outfitted the Polaris Dawn spaceflight crew with watches that will later be auctioned off to benefit St. Jude’s.
CollectionsAug 23, 2024
Piece of the Week: Gumuchian’s Colorful ‘Spectrum’ NecklaceAnita Gumuchian created the 18-karat yellow gold necklace using 189 carats of colored gemstones she spent the last 40 years collecting.
Brought to you by
Watch: Natural Diamonds: A Great (but Often Untold) Geology StorySupplier Spotlight Sponsored by GIA.
SourcingAug 22, 2024
2,492-Carat Diamond Recovered From Botswana Diamond MineThe giant gem came from Karowe, the same mine that yielded the 1,109-carat Lesedi La Rona and the 1,758-carat Sewelô diamond.
Weekly QuizAug 23, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsAug 22, 2024
Kaley Cuoco Has a Three-Stone Engagement Ring With a TwistThe three-stone ring was designed by Shahla Karimi Jewelry and represents Cuoco, her fiancé Tom Pelphrey, and their child.
CollectionsAug 22, 2024
Greenwich St. Jewelers Collabs with TikTok Jewelry Content CreatorThe Manhattan jewelry store has partnered with Xarissa B. of Jewel Boxing on a necklace capsule collection.
Brought to you by
Watch: Forging the Next Generation of Skilled Bench Jewelers at GIASupplier Spotlight Sponsored by GIA
TechnologyAug 21, 2024
Instagram’s Notes Feature Expands to Posts, ReelsActing as temporary virtual Post-it notes, Notes are designed to help strengthen mutual connections, not reach new audiences.
TrendsAug 21, 2024
Carol Woolton To Release New BookThe jewelry historian discusses the history and cultural significance of jewelry throughout time and across the globe.
TrendsAug 21, 2024
Amanda’s Style File: Shimmy and ShakeFrom fringe and tassels to pieces that give the illusion they are in motion, jewelry with movement is trending.
IndependentsAug 20, 2024
Mixed-Media Jewelry Artist Jan Yager Dies at 72The designer and maker found community around her Philadelphia studio and creative inspiration on the sidewalks below it.
ColumnistsAug 20, 2024
Google Ads Payment Policy Change: What It Means For YouThe change to accepted payment methods for Google Ads might seem like an irritation but actually is an opportunity, Emmanuel Raheb writes.
IndependentsAug 20, 2024
Pat Henneberry Releases MemoirThe industry consultant’s new book focuses on what she learned as an athlete recovering from a broken back.
Events & AwardsAug 20, 2024
The Ethical Gem Fair Is Going to CaliforniaThe fair will take place on the West Coast for the first time, hosted by Altana Fine Jewelry in Oakland, California.
MajorsAug 20, 2024
Kathy Hillelson Joins Board of WJA Foundation Hillelson is a second-generation diamantaire and CEO of Owl Financial Group.
Events & AwardsAug 19, 2024
Nominations Are Open for the 2025 Gem AwardsSubmissions in the categories of Jewelry Design, Media Excellence, and Retail Excellence will be accepted through this Friday, Aug. 23.
IndependentsAug 19, 2024
Kentucky Jeweler Closing After 89 YearsClements Jewelers in Madisonville cited competition from larger retailers and online sellers as the driving factor.
SourcingAug 19, 2024
A&C Gem Trading Corp. Relocates, Opens Wholesale ShowroomThe gemstone company is moving to the Ross Metal Exchange in New York City’s Diamond District.
CrimeAug 16, 2024
Jewels Stolen During Green Vault Heist Back on DisplayMost of the 18th century royal jewelry taken from the Green Vault Museum in Dresden, Germany, in 2019 went back on display this week.
IndependentsAug 16, 2024
Louis Anthony Jewelers Announces First Resort StoreThe Pittsburgh jeweler has opened a store in the nearby Nemacolin resort.
CollectionsAug 16, 2024
Piece of the Week: Jonne Amaya’s ‘Cat Claw’ NecklaceWith a 40-carat cabochon emerald, this necklace is as powerful and elegant as a cat.
Events & AwardsAug 16, 2024
IJO Names Jewel-Craft as VIP Vendor of the YearThe Erlanger, Kentucky-based company was recognized for its reliability when it comes to repairs and fast turnaround times.
SourcingAug 15, 2024
Greenland Ruby Is Up For SaleUnable to pay its debts, the ruby and sapphire miner is looking to restructure and become a “competitive and attractive” company.
TrendsAug 15, 2024
Paola De Luca to Debut Trendbook 2026+ at VicenzaoroThe trend forecaster’s latest guide has intel on upcoming trends in the jewelry market.
Events & AwardsAug 15, 2024
Heather Ingraham Awarded WJA Helene Fortunoff Scholarship Ingraham said she’ll use the scholarship funds to attend the Women’s Leadership Program at the Yale School of Management.
IndependentsAug 15, 2024
DC Jeweler Schools Students About Jewelry Via Summer ProgramMoijey Fine Jewelry & Diamonds held a three-week “Mine to Finger 3D Jewelry Program.”
