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Inaugural episode. Covering jewelry auction results, diamond market data, Swiss watch exports, Hong Kong luxury retail, and consumer trends.
Good morning. It's Wednesday, June the third. I'm Sharon, and
this is Luxury Spending from ALT/FNDATA — a weekly look at
trends in high-value spending across jewelry, gemstones,
watches, and handbags.
This is our inaugural episode, and there is no shortage of
data to cover.
Starting with jewelry auctions. Christie's Hong Kong held an
Important Watches auction that brought in $36 million. The
top lot was a Patek Philippe timepiece that sold for $1.8
million.
At Christie's Hong Kong online auction, a multi-gem ring sold
for $194,500 — five times its high estimate.
At Sotheby's, a 6-carat sapphire is heading to the auction
block in New York with a high estimate of $550,000. And
Sotheby's inaugural Artistic Luxury auction in New York will
be led by Imperial Russian jewels, including a Faberge diamond
and aquamarine necklace from 1911, estimated at up to $600,000.
This follows Sotheby's High Jewelry sale in New York, which
achieved $31.4 million with a 95% sell-through rate. The
June 9th Magnificent Jewels sale is anchored by a 73.11-carat
Fancy Vivid Yellow diamond ring by Glenn Spiro.
De Beers has reported that the average cost of a natural mined
diamond reached $4,063 in 2025 — up 25% from 2023. Natural
diamond spending and average stone sizes are both rising.
On the supply side, the Kao mine will go on care and
maintenance from July, amid a downturn in rough diamond prices.
That is a supply reduction that could support prices in the
medium term.
Swiss watch exports to the United States fell 17% year over
year in April. The US market continues to weigh on the Swiss
watch industry.
This stands in contrast to Watches of Switzerland's FY2026
results, which showed US sales up 24% year over year. The
divergence suggests demand is concentrated in specific retail
channels rather than declining broadly.
Christie's Hong Kong Important Watches sale at $36 million
adds to the picture: the secondary market for high-end
timepieces remains active, even as primary export volumes
contract.
Hong Kong luxury sales maintained growth in April. Revenue
from jewelry, watches, clocks, and valuable gifts was up 20%
year over year. Hong Kong continues to serve as a barometer
for luxury demand across the Asia-Pacific region.
Signet Jewelers reported improved sales, with the company
expecting positive results in the second quarter and raising
full-year guidance. The strategic revamp at the world's
largest retailer of diamond jewelry appears to be paying off.
Engagement ring insurance is shifting from optional to
expected. Rapaport reports that more buyers are purchasing
jewelry insurance at the point of sale, driven by rising
stone values and increased consumer awareness.
Looking ahead: Sotheby's Magnificent Jewels on June 9th in
New York. Sotheby's inaugural Artistic Luxury auction.
Zegna runway show in Los Angeles on Friday. RM Sotheby's
Bavaria on Thursday and Friday.
That is Luxury Spending for Wednesday, June the third — our
inaugural episode.
I'm Sharon, from ALT/FNDATA. Closing Price is this evening at
five PM Eastern, and Open Bid returns tomorrow morning at six.
