Jewelry Dominates Spotlight at First Sotheby’s Saudi Arabia Auction

Saudi Arabia Gems News: A Historic Debut for the Global Auction Giant

Sotheby’s made history with its first-ever auction in the Kingdom of Saudi Arabia, held under the title Origins, which brought in over $17.3 million in total sales. The auction that took place in the culturally rich and historic city of Diriyah in early 2025, featured a curated mix of fine art, luxury jewelry, sports memorabilia, and more. With a 66% sell-through rate by lot and 74% by value, the auction solidified Saudi Arabia’s emerging role in the global luxury and fine art market.

Title: an emerald-cut, 19.79-carat sapphire ring flanked by diamonds fetched US$400,000 at the auction
Image Credit: Sotheby’s

According to this Saudi Arabia Gems News report, 77 of the 117 lots were successfully sold, with three exceptional artworks crossing the million-dollar mark. But it wasn’t just the art that dazzled—the jewelry and luxury accessories proved to be powerful crowd magnets, drawing spirited bids from collectors across 45 countries. Remarkably, nearly one-third of all successful buyers hailed from Saudi Arabia itself, showcasing the Kingdom’s deepening interest in high-value collectible investments.

Jewelry and Luxury Goods Shine Bright

The second phase of the auction was headlined by Sotheby’s Senior Jewellery Specialist Jessica Wyndham, who presented a glittering showcase of rare and exquisite pieces. A pair of dazzling diamond earrings by Graff emerged as the crown jewel of the jewelry segment, achieving an impressive $780,000. These earrings boasted a 9.39-carat D-color VVS1-clarity diamond and an 8.46-carat internally flawless diamond—two stones that represented the pinnacle of precision and rarity. Luxury handbags and elite timepieces also commanded strong attention. A white-gold and diamond Himalaya Birkin by Hermès exceeded expectations, selling for $336,000. A Rolex Paul Newman Daytona captivated watch enthusiasts and fetched $240,000, while a rare Cartier Crash sold for $228,000. Also of note was a prototype wristwatch by Richard Mille, worn by Olympic champion Yohan Blake, which was forecasted to reach $1.5 million.

Title: A cartier bracelet with cushion-cut sapphires & diamonds fetched US$325,000.
Image Credit: Sotheby’s

A Cultural Milestone in Diriyah

The choice of Diriyah—a site rich with royal history and located near the UNESCO-listed At-Turaif—as the auction venue was a statement in itself. Sotheby’s transformed a 250-seat open-air amphitheatre into a grand stage for this historic evening, where every bid resonated with the ambitions of Saudi Vision 2030. The auction reflects the Kingdom’s commitment to expanding its cultural and tourism sectors, while simultaneously making room for luxury markets to flourish.

A Gateway to the Future of Collecting

Sotheby’s debut in Saudi Arabia not only delivered a powerful commercial outcome but also signaled a long-term commitment to the region. With the establishment of its new Riyadh office, the auction house is positioning itself to ride the wave of a fast-evolving collector base in the Middle East. Young collectors—over 30% of buyers were under the age of 40—joined seasoned connoisseurs in what can only be described as a new dawn for luxury and art in the Kingdom.

The success of Origins has proven that Saudi Arabia is not only ready to participate in the global art and jewelry scene—it is ready to lead. As more collectors seek rare, high-value pieces that reflect both cultural significance and investment potential, the Kingdom is set to become a pivotal hub. Sotheby’s inaugural venture delivered more than record sales—it ignited a new chapter of elegance, heritage, and ambition that will shape the future of auctions in the region.

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