Last year also saw a number of notable collections come under the hammer at Christie’s, including those from music legend Sir Elton John, celebrated interior designer and philanthropist Mica Ertegun, and influential art dealers Mary and Alan Hobart. Also in 2024, the Eden Rose, a 10.2-carat flawless pink diamond, sold for $13.3 million at New York’s Magnificent Jewels auction, beating its $12 million high estimate. And in Geneva, the Aga Khan Emerald, which got its name from Prince Sadruddin Aga Khan, who gave it to his wife, sold for $8.8 million, setting a record for the most expensive emerald ever sold at auction.
“The market for signed vintage jewels and colored gemstones is as strong as it has ever been,” according to Max Fawcett, Christie’s Head of Jewlery Europe.
Luxury handbags, watches, wines and rarities of historic or scientific significance also remain robust. In December, Christie’s achieved $10.9 million at the Important Watches auction, with a signed Richard Mille, RM UP-01 Ferrari Ultra- Flat No. 37⁄150, leading the sale with a price of $1.4 million. Also in 2024, for the first time ever, Christie’s auctioned three dinosaur skeletons – a Stegosaurus and two Allosaurus fossils – for $15.4 million. The luxury market is seeing an influx of new buyers, particularly among Gen Z and Millennial high-net-worth individuals, according to Christie’s. In 2024, 30% of Christie’s clientele consisted of millennials or younger generations. And in Asia, Christie’s recorded its strongest second-half sales since 2021, fueled by the rise of younger collectors who comprised 44% of buyers and bidders.
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