{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Open Bid — Daily Morning Briefing on Auctions, Luxury & Markets","title":"Luxury Stocks Finally Move With the Saleroom: Richemont's 24% Jewelry Surge, a Record $6.8 Billion Half, and the Largest Memorabilia Sale Ever","html":"","width":"100%","height":180,"duration":410,"description":"July 20: Luxury Stocks Finally Move With the Saleroom: Richemont's 24% Jewelry Surge, a Record $6.8 Billion Half, and the Largest Memorabilia Sale Ever\nFor months the listed luxury names have slid while the auction rooms kept setting records. This week that pattern finally broke, and the spark was Richemont, the Swiss group behind Cartier, whose results beat expectations and lifted the entire sector. Two things drove it, and both matter far beyond one company: a double-digit sales rebound in greater China, and a 24 percent surge in jewelry, the hardest and scarcest end of luxury. In the same stretch the big three auction houses posted their strongest first half since 2022, and a single memorabilia collection became the largest ever sold. Underneath it all is the pattern we keep coming back to, a three-speed market in which the top is racing, the everyday base is broadening, and the aspirational middle is being pulled along.\nALT/FNDATA\n- Get Started: https://altfndata.com/start\n- Market reports: https://altfndata.com/reports\n- All shows and platforms: https://altfndata.com/podcasts\nThe Markets\n- The tape broke a pattern it had held for months. Richemont's results sent its shares up more than 7 percent, their best day since April, and that single result lifted the whole sector.\n- Hermès, LVMH and Kering, the owner of Gucci, all rose between 2 and 3 percent, and Swatch, the maker of Omega and Tissot, jumped nearly 4 percent.\n- Into the new week the majors gave a little back, with LVMH easing to around 485 euros. Gold held near the record highs it set earlier this year.\nWhy the Stocks Turned\n- China: Richemont reported double-digit sales growth in the greater China region, the clearest sign yet that the Chinese luxury buyer, whose retreat has weighed on the sector for two years, may be returning.\n- Jewelry. Richemont's jewelry division, home to Cartier and Van Cleef and Arpels, grew sales 24 percent, a seventh straight quarter of double-digit growth. This is the...","thumbnail_url":"https://img.transistorcdn.com/1z6r8f5r5Nhr5bhZafuzDRKp6vb1jRw2SVyBQTEXHzQ/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8yZjBi/ZDI5ODQ1ZTAwOTg3/MzMyNTZmOTEwNTY2/NDFiYS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}