Pearls are becoming increasingly popular across age groups, with prices for necklaces, single pearls and earrings rising. Once primarily driven by pearl collectors in the Middle East and India, demand for pearls is now widespread internationally and is expected to remain strong in 2026, supported by retail visibility and alignment with fashion trends. External data supports Christie’s predictions: According to Zion market researchThe global pearl jewelry market will grow from approximately $13.53 billion in 2024 to $48.14 billion by 2034, representing a compound annual growth rate of approximately 13.53 percent between 2025 and 2034. Prices for high-quality Akoya and South Sea pearls have risen sharply, in some cases by nearly 50 percent, in recent years, as demand has outstripped production. Natural pearls remain extremely rare and highly valuable, and it is their historical rarity that underpins their value – and when they appear at auction, they can far exceed estimates.
Today’s nostalgia-driven secondary market is fueling a lively appetite for vintage jewelry from the 1960s and 1980s, especially pieces from heritage houses like Cartier, Bulgari, and Van Cleef & Arpels. Customers are drawn towards the bold, wearable designs from these decades, with yellow gold and vibrant colored stones being in high demand. Provenance remains crucial in the jewelry market: single-owner collections and jewelry with notable histories continue to excel, and curation and storytelling that elevate those histories have become central strategies. Carefully edited sales that emphasize provenance, rarity and distinctive design narrative allow auction houses to amplify the symbolic aura and emotional resonance of these objects beyond their material value.
At the regional level, demand from the East remains the main driver of activity. Christie’s reports increased spending from clients in the Middle East, particularly Saudi Arabia and the UAE, coupled with growing participation from the Indian diaspora and expanding spending more broadly across the Asia-Pacific region. “As we look to 2026, jewelery will remain central to Christie’s strategy not only as a category of exceptional pieces but also as a gateway attracting the next generation of collectors and anchoring our expansion into fast-growing regional markets,” Fawcett emphasized.
In the watch market there are independent makers and icons from the best brands
In 2025, Christie’s private sales of luxury watches exceeded $10 million. As the market continues to expand and mature in the wake of the speculative boom in 2022, high-value artworks are increasingly traded clandestinely among collectors who prefer discreet and tailored transactions. There was exceptional demand for vintage masterpieces and independent watchmakers, while collectors continued to pursue rare watches from Patek Philippe, Rolex, Breguet, Cartier, FB Journe, Audemars Piguet and Richard Mille.
In December, at Christie’s Important Watches auction in New York, rare Patek Philippe timepieces were offered – including a $660,400 Serpico Y Laino Black Enamel Calatrava ref. and the $520,700 Lepine 18-karat gold “The Scout” watch — which sold well above estimate, helping the sale reach $9.3 million with 96 percent sold by lot. At the same auction, a rare cushion-shaped gold Cartier watch with deco-style Arabic numerals sold for $76,200 against a low estimate of $8,000. However, the first piece was a horological masterpiece: the Charles Frodsham Silver Grande & Petite Sonnerie Hump-Back Tourbillon Carriage Clock from Idlis | Neeson groupwhich grossed $952,500, nearly five times its low estimate.
Christie’s achieved total global watch auction sales of $162.5 million in 2025, with 81 percent of lots selling at or above estimates. Sotheby’s also recorded its best year ever in the category, with watch sales reaching $193.6 million for 2025, up 22 percent from 2024. Important hours The White Glove sale at Breuer in New York closed at $42.8 million, anchored by Audemars Pièce lot No. 16869, which brought $7.7 million, more than doubling its high pre-sale estimate and setting a new auction record for the brand. However, those totals were surpassed by Philips, which brought in $83 million in November Hours: The first decade (2015-2025) Sold in Geneva, setting the record for any single-owner watch auction. Philips, which has an estimated 45 percent of the global watch auction market, surpassed its own annual record in 2025, reaching $290 million in auction sales, up from the previous peak of $227 million in 2022, plus an additional $80 million from private sales and its Philips Perpetual store.
Looking ahead to 2026, Christie’s specialists expect the FP Journe to remain an outstanding performer, with continued demand across key models. Vintage Patek Philippe and Rolex masterpieces are also expected to achieve further record prices, driven by continued interest from new collectors, with the US and the Middle East remaining the dominant markets. At the same time, the new vintage segment (1990s and early 2000s) is set to expand further as an accessible entry point for younger collectors looking for authentic design or nostalgic appeal at attainable price levels. According to Chrono24, the new vintage market is 2.5 times larger than the vintage segment. Dealers reported that demand for clean examples of new Rolex, Omega and Cartier models often exceeded supply, while early independent watches from this period, including early FP Journe pieces, showed notable appreciation and strong performance at auction.
Historical provenance and ripe Bordeaux
While the wider spirits and wine industry is facing something of a crisis as younger generations drink less, the secondary market for vintage wines continues to thrive, especially as younger Asian buyers enter the category with curiosity and a desire to explore beyond the big brands. This demand from Generation Z and Millennial buyers, especially in Asia and Greater China, is expected to continue to grow in 2026.
In 2025, Christie’s success in the wine sector has been fueled by provenance, with collectors placing a premium on well-documented bottles and single-owner collections that emphasize history and rarity. A notable example is the $28.8 million White Glove William I. Koch’s basement The sale, which in June set a new record for the highest price achieved by a single-owner wine lot sold in North America, headlined a $275,000 Domaine de la Romanée-Conti methuselah in 1999 and several large threes of the same wine that brought $237,500 — more than double its high estimate. Renewed demand for mature Bordeaux and rare varietals was confirmed again in December, as Jurgen Schwarz’s historic cellar totaled $4,248,000 across more than 800 lots, with 98 percent sold by lot and 116 percent at a low estimate. The first lot was 12 bottles of Henri Jayer, Vosne-Romanée and Cros Parantoux 1999, which realized US$175,000, followed by US$81,250 for six magnum bottles of Château Lafleur 1982, US$62,500 for five bottles of Henri Jayer, Vosne-Romanée, Les Beaux Monts 1978 and $52,500 for a single bottle of Chateau Lafite Rothschild 1868.
From Hermès to Chanel, scarcity drives value
2025 was the year in which the art market fully realized that a Hermès bag could reach or even exceed the seven-figure values of modern and contemporary masterpieces, as a Hermès Birkin bag specially designed for Jane Birkin in 1984 sold for $10.1 million (€8.6 million) at a record price. Sotheby’s auction in Paris in July. However, while the Birkin remains for many the holy grail of handbags, it is the more exclusive and elusive Faubourg Birkin editions – particularly the “Snow” and “Rainy Days” versions – that fetch the highest prices. A Rainy Days Faubourg Birkin 20 set with Permabrass hardware sold for $215,900 as the highest value at Christie’s $3.6 million auction. Handbags Online – New York Edit Auctioned in September 2025, the Rare Nuit Faubourg Birkin 20 also achieved US$165,100 as part of a broader collection of Hermès collectible offerings. Demand is also growing for the house’s smaller, more versatile handbags, including the Hermès Kelly Pochette. At the same auction, a sterling silver Mini Kelly watch (circa 1990s) sold for $127,000, while a Matte Vert Peppermint Alligator Mini Kelly 20 II sold for $88,900.
