A unique Patek Philippe watch sold for $4.3m at Sotheby’s New York – the highest price realized by the auction house for a timepiece this year.
But it was well below the $7.75m achieved by the same watch when it changed hands at Sotheby’s Hong Kong.
The pink gold perpetual calendar chronograph wristwatch with moon phases, was made in 1957 and was sold by the Milan-based retailer Gobbi Milano.
It was one of just nine made and is the only one known to still exist.
A private collector paid $4.3m for the watch, which had a pre-sale estimate of $3m to $5m. It led the Important Watches: Take a Minute sale last Tuesday (10 June).
In 2007 the watch sold for CHF 2.7m ($2,.2m at historic exchange rate) at Christie’s Geneva.
Al Capone’s Diamond-Encrusted Pocket Watch to Be Auctioned at Sotheby’s
A dazzling piece of underworld history is heading to auction: Al Capone’s custom diamond-studded pocket watch, crafted from platinum and set with 90 diamonds, will go under the hammer at Sotheby’s next month. The extraordinary Patek Philippe timepiece, dripping in gangster-era flair and opulence, is expected to fetch between USD $80,000 and $160,000.
Nearly a century before “bust-down” watches became a mainstay in hip-hop culture, Capone was already setting trends. Dissatisfied with the understated design of his factory-made Patek Philippe, the infamous Chicago mob boss commissioned a local jeweller to completely rework it. The result? A solid platinum case housing the original movement, with a striking caseback spelling out “AC” in 90 single-cut diamonds—a bold, custom feature unheard of at the time.
“This type of gem-setting would have been extremely rare during that period,” says Geoff Hess, Sotheby’s Global Head of Watches. “Capone wasn’t just ahead of his time as a criminal—he was ahead of his time in style.”
This is not the first time Capone’s lavish timepiece has appeared at auction. In 2021, it was sold alongside other personal items—including his diamond tie bar and favourite Colt .45 pistol—by his descendants through Witherells, a California-based auction house. Estimated at $25,000 to $50,000, the watch far exceeded expectations, fetching $229,900.
While the dial shows signs of age and the minute hand is missing, the watch remains a compelling piece of Americana. It’s less a horological grail than a conversation-starting symbol of 20th-century notoriety and excess. Today, collectors tend to frown upon aftermarket diamonds, especially in vintage watches—but this piece is a bold exception. Capone’s customised pocket watch stands as a testament to his legacy: extravagant, defiant, and unmistakably iconic.
A rare 10.3-carat fancy vivid blue diamond, known as The Mediterranean Blue, has sold for an astonishing $21.5 million (17.9 million Swiss Francs) at Sotheby’s High Jewellery Auction in Geneva. This exceptional gemstone not only topped the auction but was also the headline piece of Sotheby’s week-long jewellery sales in Switzerland.
Intense Bidding War Over a Fancy Vivid Blue Diamond The auction, livestreamed globally, saw a fierce bidding battle that began at 9 million Swiss Francs. Within the first minute, the price surged to 13 million, eventually narrowing to two determined phone bidders. After two and a half minutes of competitive bidding, the final hammer price landed at 15 million Swiss Francs, with additional premiums pushing the total sale price to $21.5 million.
The winning bidder was represented by Frank Everett, Vice Chairman of Jewelry, Americas at Sotheby’s. The blue diamond had been estimated at $20 million prior to the auction.
From Cullinan Mine to Record Sale The Mediterranean Blue diamond was cut from a 31.94-carat rough blue diamond discovered in 2023 at the legendary Cullinan mine in South Africa, a source renowned for producing some of the world’s most important blue diamonds. Sotheby’s revealed that the rough stone underwent a full year of study before undergoing a meticulous six-month cutting and polishing process to achieve its final cushion modified brilliant-cut form.
Global Tour Boosted Demand Sotheby’s launched a worldwide exhibition tour of the blue diamond, beginning with its unveiling at their inaugural show in Abu Dhabi. It was then displayed across the Middle East, Asia, and the United States, generating significant interest from collectors and high-net-worth buyers. The gem was showcased alongside seven other ultra-rare diamonds and gemstones, with the total collection valued at over $100 million.
A Defining Stone of the Season Quig Bruning, Sotheby’s Head of Jewelry for the Americas & EMEA, described the diamond as a milestone for the season:
“It is undoubtedly the defining stone of the season and ranks among the top blue diamonds we have ever sold. The excitement it generated during its global tour reflects the increasing demand for rare, investment-grade diamonds and a growing flight to quality among collectors.”
