International News
Sotheby’s Geneva to hold auction of UFO-themed watches
Sotheby’s Geneva is to hold an “out of this world” auction of UFO-themed watches.With Area_51, Sotheby’s and heist-out, founded by Maxime Couturier and Lorenzo Maillard, are moving the Rough Diamonds concept into space with a UFO-themed watch exhibition beginning on April 1, followed by an evening reception on April 2 and a live auction of 51 lots on April 3.
Among the highlights is a Rolex Starship Gold, circa 1980, featuring an elongated, UFO-shaped oval dial in a “rare deviation from the brand’s aesthetic”.There’s also a Ressence Type 3AM, circa 2017, the first ever watch filled with oil, to ensure the display is readable from any angle, and a number of unconventional timepieces from Audemars Piguet and Patek Philippe.
Another highlight is the Ressence Type 3AM, a groundbreaking 2017 model known for being the first watch filled with oil, a feature that enhances legibility from any viewing angle. The collection will also include avant-garde designs from prestigious brands such as Audemars Piguet and Patek Philippe.
While Sotheby’s has yet to release official price estimates, collectors and enthusiasts can expect a truly out-of-this-world bidding experience.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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