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Jewelry, the Fastest Speed
- Richemont's jewelry sales grew 24 percent, a seventh straight quarter of double-digit growth, and that one result lifted the entire luxury sector on the market.
- It confirms what our own data has flagged all year: the strongest, most resilient part of luxury is hard, signed, scarce jewelry and coloured stones. The private market flagged it first, and now the public market is catching up.

The Watch Wave
- Rolex is marking 100 years of the Oyster, the case that made the modern waterproof watch, with a run of centennial models including a new Oyster Perpetual in steel and gold and a fresh take on the Daytona.
- Audemars Piguet went the other way, deep into complication, from perpetual calendars to a Royal Oak Concept flying tourbillon built with the streetwear label AMBUSH.
- When the oldest houses in Switzerland invest this heavily in both heritage and experiment at once, the collectible watch is very much alive at the top.

The Split, With a Number On It
- The watch you wear and the watch companies you can buy on the market are telling two different stories. Our decomposition of the market separates the auction prices from the listed retail stocks: the collectible end sits at record highs while the retail names have lagged for months.
- You can see the collectible strength live right now, with a rare Rolex GMT-Master II and a Patek Philippe World Time both crossing the block this week.
- On the equity side there are finally signs of life: Swatch, the maker of Omega and Tissot, jumped nearly 4 percent, and Signet, the largest jeweler in American retail and the owner of Kay and Zales, rose about 3 percent.

Quick Hits
- The Hermès Birkin remains the hardest currency in fashion, still trading more like a listed security than an accessory, with the best exotic-skin examples setting the pace at auction.
- In spirits, the rare whisky market took its usual summer breather, though Japanese bottles stayed strong, with a Yamazaki overtaking the Macallan as the highest price paid for a single bottle last month.

By the Numbers
- Richemont jewelry: +24 percent, a seventh straight double-digit quarter.
- Swatch: about +4 percent this week. Signet (SIG): about +3 percent.
- Rolex Oyster: 100 years in 2026, marked with a run of centennial models.

The Read
- The watch, the jewel and the great handbag have rarely been more wanted, and the strength is concentrated at the hard, scarce top of each category. It is only the everyday, mass-market version that the market keeps second-guessing. Jewelry is now leading luxury, and the public market is only starting to notice.

Also from ALT/FNDATA:
- Art Market — tomorrow, the auction houses' half-year report card and the split it hides
- Auto Market — Thursday · Closing Price — Friday
- The Wealth Signal — the weekly newsletter on LinkedIn

ALT/FNDATA
- Get Started: https://altfndata.com/start
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- All shows and platforms: https://altfndata.com/audio

The Collectible Watch Market Keeps Humming
- A tech founder put a rare third-generation Rolex Rainbow Daytona up for auction, asking around 500,000 dollars, many times its original retail. With its bezel set in a full arc of coloured sapphires, it is one of the most coveted modern Rolex references and cannot be bought at a boutique.
- Fresh energy kept arriving: Off-White, the label founded by the late Virgil Abloh, entered watchmaking with its debut collection, while the established houses kept releasing, from a downsized Vacheron Constantin Overseas to a sapphire-cased Hublot Big Bang.

The Retail Split, With a Number On It
- A report noted that Phillips, the auction house, is now leaning heavily on luxury watches to carry its first-half sales, which tells you where the strength sits: in the auction room, not the shop floor.
- Our own research decomposed the watch market, separating the auction prices from the listed watch stocks. The collectible end sat at record highs while the retail-driven shares kept sliding.
- The tape agreed: Watches of Switzerland slipped again, while Swatch, the maker behind Omega and Tissot, firmed to around 203 francs, and Signet (SIG), the largest jeweler in American retail and owner of Kay and Zales, rose about 3 percent to 84 dollars, a rare bright spot on the retail side.

The Jewelry Shift: White Diamonds Lose the Top
- Our research found that white diamonds, the stones most people assume sit at the very top, are quietly ceding their crown to coloured stones and signed pieces from the great houses.
- Two reasons: a vivid blue or pink diamond is genuinely rare in a way a white diamond is not, and lab-grown stones have flooded the white-diamond end and blurred the line between the natural and the made. That is why a Botswana blue diamond makes headlines now and a plain white one no longer does.

The Handbag as an Asset
- Our data found Christie's sold 5.8 million euros of handbags in Paris entirely online, with no saleroom at all. Millions changing hands sight unseen is a sign of how mature and trusted the resale market for the best bags has become.
- A great Hermès Birkin now trades a lot more like a listed security than a fashion accessory, and the buyers know it.

By the Numbers
- Rolex Rainbow Daytona (3rd gen): asking around 500,000 dollars at auction.
- Swatch around 203 francs; Signet (SIG) about +3 percent to 84 dollars; Watches of Switzerland soft.
- Christie's Paris handbags: 5.8 million euros, sold entirely online.

The Read
- The watch itself has never been more wanted; it is only the everyday, mass-market version that the market keeps second-guessing. Across watches, jewelry and handbags, the rare and the scarce keep winning while the definition of a trophy is being rewritten in real time.

Links:
- ALT/FNDATA: https://www.altfndata.com
- A $500K third-gen Rolex Rainbow Daytona heads to auction (WatchPro): https://www.watchpro.com
- Off-White enters watchmaking (Hodinkee): https://www.hodinkee.com
- Phillips leans on watches for its first half (The Art Newspaper): https://www.theartnewspaper.com
- Christie's Handbags Online, The Paris Edit (Christie's): https://www.christies.com
- Watch-market decomposition and the white-diamond shift: ALT/FNDATA market data

Also from ALT/FNDATA:
- Art Market — tomorrow, the auction houses get their half-year report card, and the numbers tell a different story than the headlines
- Closing Price — Friday, the whole week pulled together
- The Wealth Signal — the weekly newsletter on LinkedIn

The Split in Watches
- Phillips closed a spring season that brought in about 235 million dollars, the highest total for a watch-auction season in the history of the category, with records across vintage and independent watchmakers.
- At the same time, Watches of Switzerland scrapped its target to more than double sales by 2028 and conceded the market had cooled. The collectible end is booming while the new-watch retail end slows, the same divergence we track across all of luxury, playing out inside a single category.

The Industry Remakes Itself
- François-Henri Bennahmias, the former chief executive of Audemars Piguet, launched his own Swiss brand, N3W5, set to debut at Dubai Watch Week next year.
- Swatch Group, the parent of Omega and Tissot, is seeking about 170 million dollars from Samsung over copied watch-face designs.
- Cartier announced a new prize for emerging watchmaking talent, and London Watch Week returned for a strong second edition. The industry is investing in craft and the next generation, not retreating.

Jewelry and the Hardest Bag in Fashion
- Christie's set records in its Paris handbag sale, led by rare exotic-skin Hermès pieces including a crocodile Birkin, a bag that has outpaced many stock indices over the past decade.
- Messika unveiled a one-of-a-kind necklace built around a 20.46-carat blue diamond from Botswana.
- Fred, the LVMH-owned jeweler, marked its 90th anniversary with a 101-carat yellow diamond, the Soleil d'Or, a stone so significant it returns to the house's private vaults rather than being sold.

Also from ALT/FNDATA:
- Open Bid — every weekday evening, the day's read on the luxury and collectibles markets
- The Wealth Signal — the weekly newsletter on LinkedIn (Sharon Obuobi)

ALT/FNDATA
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The Trophy Ceiling (ALT/FNDATA data)
- Over the past year, the top of personal luxury in our database is remarkably firm. Handbags: an Hermès Birkin in matte alligator at about 490,000 dollars, with a white Himalaya crocodile near 460,000 (Christie's). Watches: an F.P. Journe at 10.8 million dollars (Phillips, New York). Jewelry: a magnificent jadeite bead and coloured diamond necklace at about 25.6 million dollars (Christie's, last month) — jadeite, the rarest form of jade, is the most treasured gem in Chinese culture and still commands diamond-tier prices among Asian collectors.
- The recurring theme: everyday luxury demand has cooled, but the trophy tier (the rarest watch, the perfect Birkin, the important colored diamond) keeps setting eye-watering numbers.

The Color Boom: Paraíba and Beyond
- At Sotheby's New York, five Brazilian Paraíba tourmalines from one private collection sold for a combined 3.4 million dollars. The top stone, a 7.7-carat oval, made 1.4 million dollars (more than double its high estimate), about 182,000 dollars per carat.
- Classic Brazilian deposits are nearly exhausted, and the trade is watching new finds, including possible Ethiopian-origin stones (Rapaport). A caution from the labs: SSEF has warned about emeralds refilled to hide fractures. In colored stones, authentication and provenance are everything.

The Maisons Go Big: High Jewelry
- Van Cleef & Arpels unveiled a high-jewelry collection themed on ancient Egypt ("Fascinating Egypt"), Piaget added a new chapter to its Extraleganza trilogy, and Roberto Coin marked 30 years with its largest-ever high-jewelry showing, in Venice. When entry-level luxury slows, the houses chase the clients who never stop spending.

Watches: Investment and a Trade Calendar Being Rebuilt
- WatchPro published a guide to 55 investment-grade watches to buy now, the names that have best held value through the cycle.
- The industry's trade-fair calendar is being rebuilt after years of consolidation. Basilia debuts in Basel in April 2027 (MCH Group + Informa, eight years after Baselworld; roughly half jewelry, a quarter gemstones, a quarter watches, 400-plus exhibitors). Watches & Wonders Geneva has confirmed its 2027 dates and added new names, with Breitling and Damiani joining. And a new jewelry trade event will debut during Paris Fashion Week in October (WWD).

Quick Hits
- A 6-carat sapphire took center stage at a recent Sotheby's New York sale (Rapaport).
- Rolex is partnering with Rockefeller Center ahead of a new Fifth Avenue headquarters, the latest move in its retail push.
- New releases for collectors: H. Moser's pitch for the summer watch of 2026, and a rugged new Panerai Submersible built with the US Navy SEALs.

Also from ALT/FNDATA:
- Closing Price — this evening at 5 PM ET
- Auto Market — tomorrow (Thursday)
- Open Bid — tomorrow at 6 AM ET

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Watches — A Record-Breaking Week
- Phillips held the highest-grossing watch auction in US history: $75.8M, 100% sold, led by an F.P. Journe at $13.9M — a record for an independent watchmaker.
- The independents kept rising: four Kari Voutilainen watches each broke $1M at Phillips, and an F.P. Journe once owned by Tom Brady sold for $960,000.
- In memoriam: Philippe Stern, former president of Patek Philippe and the man behind the Nautilus, died at 87.

Rolex and the Retail Bet
- Rolex raised gold-watch prices ~5% — its second increase this year — as gold keeps setting records.
- Bucherer opened three new Rolex boutiques in a month, including what it calls the highest Rolex boutique in the world. A big bet on physical retail even as broader luxury demand cools.

Jewelry — The Top Keeps Rising
- Christie's Magnificent Jewels (New York) totaled $49.7M, 100% sold, led by The Azure Blue, a 31.62-carat diamond that sold for $8M+.
- ALT/FNDATA data: a Chaumet sapphire ring sold for $3.5M at Christie's Geneva this spring — one of the top colored-stone results in our database over the past 90 days.
- Talent: Marie-Laure Cérède, most recently Cartier's creative director for watches and jewelry, is moving to lead Chanel's jewelry creation studio — a heavyweight hire (she spent ~14 years leading artistic direction at Harry Winston before returning to Cartier in 2016). Starts October 2026. And Piaget unveiled Extraleganza, a 65-piece high-jewelry collection.

The Consumer Mood
- Handbags: the WSJ asks whether the handbag's heyday is over, citing an $8B slide in sales.
- Printemps is betting on discovering new designers as shoppers tire of "normalized luxury" — the same logos and bags everywhere.
- LVMH and a group of pro athletes are putting ~$50M into the activewear label Rhoback — luxury money moving into athleisure.
- The stories behind the brands are selling too: ~1,000 Karl Lagerfeld sketches (Sotheby's) and Martin Margiela's personal archive are both heading to auction.

One for the Cellar
- A Yamazaki 50 Year Old whisky sold for ~$1M in Hong Kong — a record for Japanese whisky. Watch, diamond, or bottle: at the very top, collectors are still paying record prices.

By the Numbers (ALT/FNDATA data)
- Top colored-stone result, trailing 90 days: $3.5M — a Chaumet sapphire ring, Christie's Geneva.
- Watch week: Phillips $75.8M (100% sold) · F.P. Journe $13.9M (independent record) · 4 Voutilainen lots >$1M · Tom Brady's Journe $960K.
- Jewelry: Magnificent Jewels $49.7M (100% sold) · The Azure Blue 31.62ct, $8M+.

Also from ALT/FNDATA:
- Open Bid — Mon-Fri at 6 AM ET
- Closing Price — Mon-Fri at 5 PM ET

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Jewelry — Auction Results
- Christie's Magnificent Jewels, New York: $49.7M total, 100% sold by lot, 149% of the low estimate; two blue diamonds over $8M each; led by The Azure Blue; buyers 58% Americas / 21% Asia-Pacific / 21% Europe
- Bonhams New York: ruby necklace beat its $150,000 top estimate to sell for $2.2M — about 14x the high estimate

Diamonds — Market Data
- Alrosa: record demand in May; stones above 10.80 carats and fancy-color goods led sales
- Small diamonds recover: 0.30ct RapNet Diamond Index up 2.1% in May

Diamonds — The De Beers Question
- Anglo American moving forward with the sale of its 85% stake in De Beers
- Botswana seeking UAE and Oman support to acquire a stake; Debswana CEO Andrew Maatla Motsomi makes the case at JCK Las Vegas

Diamonds — Lab-Grown
- Russia announces new lab-grown jewelry regulations to improve labeling/description transparency

High Jewellery Houses
- Chanel names Marie-Laure Cérède (ex-Cartier and Harry Winston) to lead jewellery design
- Van Cleef & Arpels unveils a 180-piece high jewelry collection inspired by ancient Egypt
- Wallace Chan opens two Venice exhibitions (Palazzo Contarini del Bovolo and Santa Maria della Pietà)

Watches — New Releases
- MB&F HM12 "The Guardian": independent sci-fi horological machine with a companion robot
- Blancpain (Swatch Group) Fifty Fathoms Tech joins the permanent collection
- Also launching: DUG Glashütte Purist Typ 1, Yema Granvelle Renaissance, Kiwame Tokyo Kubo

Watches — This Week at Auction
- Bonhams London Fine Watches (June 11), 60 lots: Patek Philippe Ref. 7000R minute repeater (£150,000–250,000, lead); F.P. Journe Octa Calendrier platinum (£100,000–150,000); two Rolex COMEX (Submariner 5514 £60,000–80,000, Sea-Dweller 1665); AP platinum minute-repeating jump hour Ref. 25723 (£40,000–60,000)
- Christie's Important Watches, New York (June 12): Andy Warhol's Patek Philippe Calatrava; ultra-rare Patek Ref. 3448G "Red Dot"; two Tiffany-signed Patek Calatravas with "Golden Rule" dials made for President Lyndon B. Johnson; estimates not yet published

Handbags — Christie's Paris
- Christie's Paris online Hermès sale (June 12–24): ~300 bags, Jean-Paul Gaultier era focus, 130 no-reserve lots; top lot Faubourg Sellier Birkin 20 (2021, palladium hardware) €180,000–300,000; one-of-a-kind tricolor Birkin 40 (1998) €20,000–30,000

Week Ahead
- Bonhams London Fine Watches — June 11
- Christie's Important Watches (New York) + Christie's Paris Hermès online sale opens + Sotheby's Gem Drop — June 12

Also from ALT/FNDATA:
- Open Bid — Mon-Fri at 6 AM ET
- Closing Price — Mon/Wed/Fri at 5 PM ET

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Jewelry Auctions
- Christie's Hong Kong Important Watches: $36M total, Patek Philippe top lot at $1.8M
- Christie's Hong Kong online: multi-gem ring sold for $194,500, five times high estimate
- Sotheby's NY: 6-carat sapphire heading to auction, high estimate $550,000
- Sotheby's inaugural Artistic Luxury auction: Faberge diamond and aquamarine necklace (1911), estimated up to $600,000
- Sotheby's NY High Jewelry sale: $31.4M, 95% sell-through rate
- Sotheby's Magnificent Jewels June 9: 73.11-carat Fancy Vivid Yellow diamond ring by Glenn Spiro

Diamonds
- De Beers: average cost of natural mined diamond reached $4,063 in 2025, up 25% from 2023
- Natural diamond spending and average stone sizes both rising
- Kao mine going on care and maintenance from July amid rough-price downturn

Watches
- Swiss watch exports to the US fell 17% YoY in April
- Watches of Switzerland FY2026: US sales up 24% YoY (contrast to export decline)
- Christie's HK Important Watches: $36M, secondary market active despite export contraction

Hong Kong Luxury Retail
- Revenue from jewelry, watches, clocks, and valuable gifts up 20% YoY in April

Retail
- Signet Jewelers: improved sales, raised full-year guidance

Consumer Trends
- Engagement ring insurance shifting from optional to expected, driven by rising stone values

Week Ahead
- Sotheby's Magnificent Jewels, New York — June 9
- Sotheby's inaugural Artistic Luxury auction, New York

Also from ALT/FNDATA:
- Open Bid — Mon-Fri at 6 AM ET
- Closing Price — Mon-Fri at 5 PM ET