Stephen Brooks, the CEO of Phillips auction house, has outlined the strategic rationale behind the incorporation of Geneva into their list of locations, elucidating that this move is designed to further solidify their standing within the jewelry market. Phillips has set its sights on hosting biannual jewelry auctions in May and November, strategically timed to align with significant trade shows and other esteemed jewelry auctions in the opulent epicenter of Geneva. This decision, motivated by the triumphs experienced through their jewelry auctions in Hong Kong and New York, seeks to bolster their foothold in the industry.
This expansion is substantiated by standout sales, with noteworthy examples including the $1.15 million auction of jewelry sourced from the estate of Earl Simcox Swensson and his spouse, alongside the impressive $3.42 million transaction involving a Bulgari necklace. These resounding accomplishments have contributed to Phillips’ endeavor to extend its reach to Geneva.
Mr. Brooks has articulated his aspiration for the jewelry sector to mirror the triumphs of their watch division. The latter made resounding waves in 2015, propelled by the partnership between renowned auctioneer Aurel Bacs and the groundbreaking sale of Paul Newman’s Rolex Daytona, achieving a staggering $17.8 million. Acknowledging the diversified and global nature of their expanding audience, Mr. Brooks is intent on catering to this emerging and heterogeneous demographic.
