According to Stephen Brooks, the CEO of Phillips auction house, the addition of Geneva to their locations is a strategic move to establish their significance in the jewelry market. Phillips has scheduled twice-yearly jewelry auctions to be held in May and November, coinciding with important trade shows and other jewelry auctions in the luxury hub of Geneva. This decision was influenced by the success Phillips has seen in their jewelry auctions in Hong Kong and New York. Notable sales, such as the $1.15 million auction of jewelry from the estate of Earl Simcox Swensson and his wife, as well as the $3.42 million sale of a Bulgari necklace, have supported their expansion into Geneva.
Mr. Brooks expressed his ambition for the jewelry business to be as successful as their watches business, which made a splash in 2015 with the collaboration of star auctioneer Aurel Bacs and the sale of Paul Newman’s Rolex Daytona for $17.8 million. Recognizing the diversity and global reach of their new audience, Mr. Brooks aims to cater to this younger and more diverse demographic.
Jewellery Outlook editor and publisher, David Brough, sees Phillips’s entry into the Geneva auctions as a challenge to market leaders Christie’s and Sotheby’s in the high-end jewelry market. To guide their strategy, Benoît Repellin was appointed as the worldwide head of jewelry in March.
The upcoming debut auction in Geneva will feature contemporary works by notable artists such as Silvia Furmanovich, Viltier, and Margaret, aiming to make the sale more distinct. Additionally, signed jewels by renowned brands like Cartier, Chaumet, and Boucheron will be showcased. Notable pieces include a 15.6-carat diamond ring estimated to sell for $500,000-$800,000 and a Van Cleef & Arpels sapphire and diamond bracelet from the 1950s estimated at $100,000-$150,000.
Mr. Repellin believes that Phillips can differentiate themselves in the market by offering not just stones, but also unique jewelry collections that appeal to collectors. The auction house aims to bring a fresh perspective to the jewelry market and provide a diverse range of offerings to their clients.
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