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Saturday, July 12, 2014

Daryl Wickstrom To Lead Sotheby’s International Jewelry And Watch Divisions

Sotheby’s on Friday named longtime executive Daryl Wickstrom as international managing director of Sotheby’s Worldwide Jewelry and Watch Divisions. In this newly-created role, he will be tasked with expanding activity and growing sales in these areas, which experienced record results in recent years, the New York-based multinational company said in a statement. 

Wickstrom will work closely with David Bennett, Lisa Hubbard and Quek Chin Yeow, the company’s three Jewelry chairmen, Tim Bourne, worldwide head of Watches, and Patti Wong, chairman of Sotheby’s Diamonds, the company said. He will oversee activities in North America, Europe and Asia, as well as the company’s expanding Sotheby’s Diamonds retail business and related private sales activity.

The announcement was made by Bruno Vinciguerra, Sotheby’s chief operating officer. 

Wickstrom joined Sotheby’s in 1996 and was appointed executive VP and deputy chairman, Asia, in July 2008. He was instrumental in developing the growth strategy in Asia and particularly Sotheby’s expansion in China. During his time in this role, total sales in Asia surpassed $1 billion in 2011.

From 2002 through 2008 Wickstrom served as managing director of Sotheby’s Global Auction Division. During his tenure, he orchestrated many significant single-owner sales and helped launch of Sotheby’s Diamonds retail venture in 2005, the company said.  

In 2013, Sotheby’s saw its highest-ever annual totals for its jewelry and watch categories, with worldwide Jewelry sales achieving $529 million, and worldwide Watch sales reaching $97 million. This spring, Sotheby’s set new benchmark prices for: any jadeite jewel and any jewel by Cartier (the Hutton-Mdivani Necklace, $27.4 million); any yellow diamond and any jewel by Graff (the Graff Vivid Yellow, $16.3 million); and any ruby (29.62-Carat Oval Burmese Ruby, $7.3 million). In addition, world auction records were set this spring at Sotheby’s for several iconic models by Patek Philippe: any Ref. 5207P ($867,000); any contemporary time-only watch by the firm ($737,000); any Celestial model ($545,000); and any Ref. 5033 ($509,000).

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