Jewels and rare gems return to the spotlight at auction in December, between New York and Abu Dhabi, where the stories of divas and dynasties amplify the value of the pieces in the catalog.
How Abu Dhabi is changing the jewelry market
Between December 2 and 5, the Collectors’ Week organized by Sotheby’s in Abu Dhabi showcased exhibitions, meetings with artists’ heirs, and auctions with a total value close to a billion dollars. The event, realized with the Abu Dhabi Investment Office, reflects the new center of contemporary and international luxury.
About a year ago, the Abu Dhabi Investment Office acquired a minority stake in the auction house, owned since 2019 by telecommunications magnate Patrick Drahi. According to the latest Bain-Altagamma report, the Middle East will be the only area in growth in 2025, with an estimated increase between 4% and 6%. The expansion will be driven mainly by Abu Dhabi and Dubai.
In the high-end personal goods segment, jewelry will record the most marked increase, thanks to their emotional and identity dimension.
However, it is in the auction circuit that this symbolic value often translates into exceptional figures, especially when pieces belonging to celebrities or characterized by extraordinary gems for rarity come into play.
In Abu Dhabi, for example, the world’s largest fancy orange-pink diamond was offered, sold for 8.8 million dollars. The result makes it the most expensive gem in its category, confirming the centrality of stones with out-of-scale characteristics in the new global luxury.
Why the New York auction is in the spotlight
The stories of passions, dynasties, and Hollywood divas also animate the more traditional auctions, from those in November in Geneva to those scheduled in the coming days in New York. In this context, Christie’s has just appointed Max Fawcett as the new global head of the jewelry department, marking a strategic shift at a time of strong demand.
On December 10, at the Rockefeller Center already immersed in Christmas lights, Christie’s will feature the Rockefeller Kashmir ring as the star of the “Magnificent Jewels” sale.
It is a rare Cartier Art Deco style ring, centered by a “sugarloaf” cabochon sapphire of 17.66 carats, with an estimate between 1.5 and 2.5 million dollars. The jewel comes from the collection of Sandra Ferry Rockefeller, daughter of John Rockefeller III.
The catalog also includes other iconic pieces linked to Hollywood’s golden age. Among these, a ring with a marquise-cut yellow diamond Bulgari, given by Eddie Fisher to Elizabeth Taylor for her 30th birthday, and the engagement ring with diamond of Frank and Barbara Sinatra. Additionally, the image of actress Jennifer Lawrence with a David Webb necklace, destined for an upcoming New York auction by Sotheby’s, reaffirms the constant dialogue between contemporary stars and collectible jewelry.
In the first half of the year, the push from collectors increased Christie’s jewelry sales by 25%, controlled by the holding Artémis of François Pinault. The result is largely due to the success of the June auction in New York, closed with a record revenue of 88 million dollars. Of this amount, a significant 14 million came from the pink diamond ring that belonged to Marie Antoinette, mounted by Joel Arthur Rosenthal, known as Jar, among the most sought-after brands of the moment.
What is Sotheby’s new strategy for high jewelry
Also in New York, in the new location in the Breuer Building at 945 Madison Avenue, already occupied by important city museums, Sotheby’s will organize its “Luxury Days” from December 8 to 11. The event also marks a change in positioning in the language adopted for the most prestigious sales.
The auctions dedicated to the most precious jewelry will no longer be called “Magnificent Jewels,” but “High Jewelry,” a choice designed to align with the rapidly growing digital markets. As the auction house explains, the new designation aims to capture clients through more targeted online searches, increasingly driven by algorithms and artificial intelligence systems. In this context, the denomination becomes a competitive tool as much as the selection of lots.
Among the standout pieces are a fancy blue diamond of 3.48 carats and a Van Cleef & Arpels set in diamonds and sapphires. If the sales meet expectations, the jewelry department could exceed the 270 million dollars revenue threshold by 2024. Additionally, on November 12, a brooch from Geneva that belonged to Napoleon and was lost on the Waterloo battlefield was sold for 3.7 million euros, over four times the maximum estimate.
What role does Phillips play in the race for historic gems
Although Christie’s and Sotheby’s alone generate about half of the world’s auction revenue, as noted by the Art Basel & UBS Art Market Report, Phillips is decisively growing in the jewelry segment. In November, the sale of the Vanderbilt family collection, another iconic American dynasty, achieved 17 million dollars, four times the pre-auction estimate, with 100% of the lots sold.
The top lot was the Vanderbilt Sapphire, a “sugarloaf” sapphire of 42.68 carats mounted on a brooch with Tiffany & Co. diamonds. The jewel belonged to Gladys Moore Vanderbilt, great-granddaughter of Cornelius Vanderbilt, the family’s patriarch. Compared to many other historic pieces, this specimen combines exceptional size, aristocratic provenance, and the signature of high American jewelry.
On December 8, at 432 Park Avenue, among the most valuable lots of the upcoming Phillips jewelry auction will be another Tiffany brooch, the Fleur de Mer, designed by Jean Schlumberger with sapphires and diamonds and once owned by Elizabeth Taylor. Overall, these events highlight how the combination of extraordinary gems, iconic signatures, and star-studded biographies continues to redefine the perceived value of jewelry at auction.
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
