In Conversation with Sotheby's Chairman Patti Wong
Patti Wong explains the new wave at Sotheby
Top quality diamonds in color, cut, clarity and size. A contemporary design with steel setting, a new salon on London’s New Bond Street and an artistic advertising campaign. It's a new wave by Sotheby's Diamonds, explains Chairman Patti Wong.
How was Sotheby’s Diamonds conceived?
Sotheby’s was already handling a lot of private jewelry sales, sourcing and design enquiries outside the auction calendar, but some clients felt this special access should be expanded. So, it was natural to formalize the offerings to allow more clients to benefit from our expertise in sourcing and design.
How are steel and diamonds perceived by the market?
Our buyers are astute and knowledgeable and many are art collectors. They want their diamonds to be as close to perfection as possible and ‘framed’ by a contemporary style. They love our use of different materials and our approach to design.
How strategic of a location is London’s New Bond Street?
We have salons in New York and Hong Kong but New Bond Street is on one of the most famous and beautiful shopping streets in the world and it is still in the Sotheby’s building.
Today, the market is very different from how it was two decades ago. Buyers are more discerning and do their research before setting off to hunt for the perfect diamond. There is certainly more buying with knowledge rather than just emotion. Having special access to the rarest and most special stones has enabled us to meet our clients’ exacting criteria.
You have a new advertising campaign with a fresh approach to photography.
As we are well known for artistic creativity, we collaborated with photographer Erik Madigan Heck to capture our most beautiful collections. We knew he would be the ideal artist to bring the Sotheby’s Diamonds campaign to life in a distinctive way, since art’s influence is inherent in Erik’s creative work.
What does your clientele look for?
Our clients want a diamond with exceptional cuts, from three to five carats, with good color, and a contemporary design. We have developed a range of rings with colorless and colored diamonds surrounded by semi-precious stones, each one being different. They may buy one, but often come back for more. Our earrings are very popular too.
The best sale of Sotheby’s Diamonds?
In the last ten years, we have been most fortunate to handle the sale of some of the most important DIF and colored diamonds in the world. We have access to the widest offering of colorless to colored diamonds and we select each stone for its first-rate color, cut, polish and symmetry. No two diamonds are the same and we do not compromise on our selection to fit a design as each mounting is custom-made and designed to enhance and show off the ston
