A diamond and onyx panther bracelet by Cartier sold for £4.5 million ($7 million) last week, a Sotheby’s and auction record for Cartier (and bracelets, for that matter!). The Sotheby’s auction sold over 20 pieces owned by the late Duke and Duchess of Windsor, raising a total of £8 million. Cartier is certainly one of the world’s most highly regarded jewellers, and this reminder of their rich heritage is nicely timed with their recent expansion. The MO Down reported earlier this week that Cartier are busily opening stores, making a concerted effort to enter the highly lucrative Chinese market in style.
David Bennet, chairman of Sotheby’s jewellery in Europe and the Middle East attributed the sale’s record-breaking success to the strength of the broader gem market. We suspected as much. International demand for precious gems is up, and rising still with an increasingly insatiable Asian appetite.
Also sold at a record price was a ruby, sapphire, emerald and diamond flamingo clip for £1.7 million pounds. The entire collection sold for £31 million, more than seven times the expected amount. The most valuable single-owner jewellery sale ever, we can’t help but envy you slightly Mrs. Windsor…
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Cartier plans to double the number of its boutiques in the next two to three years, particularly in China, where the luxury industry is experiencing enormous growth at the moment. The MO Down reported last week that Tiffany & Co. is opening stores faster than ever, and it seems that Cartier is following suit. The opening of its Hong Kong flagship last week demonstrates the brand’s strategic response to the expected growth of the watch and fine jewellery industry in Asia over the next five years. China’s increased appetite for jewels and luxury goods presents an exciting and unrivalled opportunity to capitalise on continuing rapid economic growth and bringing brands to a newly affluent urban population. Making up 31 per cent of the global market, we are fascinated by the different strategies brands are employing to make themselves known in this new market. Many luxury brands are new to Chinese consumers, and brand loyalty is basically non-existent. We predict some elaborate efforts to win hearts and minds, and can’t wait to sit back and watch the show.
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Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au
A diamond and onyx panther bracelet by Cartier sold for £4.5 million ($7 million) last week, a Sotheby’s and auction record for Cartier (and bracelets, for that matter!). The Sotheby’s auction sold over 20 pieces owned by the late Duke and Duchess of Windsor, raising a total of £8 million. Cartier is certainly one of the world’s most highly regarded jewellers, and this reminder of their rich heritage is nicely timed with their recent expansion. The MO Down reported earlier this week that Cartier are busily opening stores, making a concerted effort to enter the highly lucrative Chinese market in style.
