Sotheby’s Jewelry Auction in Milan A success, with €6 million sold.
Sotheby’s Fine Jewelry & Watches auction in Milan achieved a record result. The sale surpassed its high estimate, totaling €6 million, the highest total for a sale of this kind ever organized by the company. Seventy-five percent of the lots were sold at prices above their high estimates, and 94% of the lots were sold (of which 12 sold for over €100,000).
Global participation included bidders from 30 countries: 50% from Europe, 23% from the United States, and 20% from Asia, with bidders coming from 42 countries. There’s also an interesting sociological fact: nearly a quarter of buyers were first-time buyers at Sotheby’s, and Millennials (aged 20 to 30) accounted for nearly 20% of buyers and nearly 20% of total bids.
An extraordinary result for the Fine Jewelry & Watches sale, which achieved the highest total ever recorded in Milan for watches and jewelry. Italian and international collectors fought to the last to acquire unique and extraordinary pieces, tripling the initial estimates. In recent years, the jewelry and watch market in Italy has experienced constant growth, and this season’s result testifies to the timeless appeal of the artisanal excellence that continues to fascinate collectors around the world.
Sara Miconi, Head of Jewelry, Sotheby’s Italy
