In this episode:

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

In this episode:

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

In this episode:

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