Phillips Auction House Sets New Record with Historic Watch Sale

Phillips Sets Unprecedented Global Record in Luxury Watch Auction

The Geneva Watch Auction: A Historic Milestone

Phillips has once again made history, orchestrating the highest-grossing live watch auction ever recorded. The "Geneva Watch Auction: XXIV" concluded with an astonishing total of $112.3 million, eclipsing the previous record set by Phillips just six months prior and solidifying its place as the industry's most successful watch auction house.

Event Highlights and Record-Breaking Sales

Held on November 7 and 8 at the prestigious Hotel President, the two-day auction featured a curated selection of 217 lots, ranging from antique treasures to contemporary independent masterpieces. Every single item found a buyer, with 2,121 registered bidders from 69 countries driving the average sale price to over $500,000. Seventeen of these exquisite timepieces commanded prices exceeding 1 million Swiss francs (approximately $1.2 million), including a remarkable F.P. Journe Chronomètre à Résonance “Régence” (pictured above) that fetched a record-breaking 8.68 million francs ($10.6 million). This marks the fifth consecutive live Phillips auction where a watch has surpassed the $10 million mark.

F.P. Journe's Dominance and Other Notable Achievements

The auction witnessed an impressive 24 new world records. Timepieces from revered brands such as Patek Philippe, Rolex, Philippe Dufour, and Voutilainen all achieved new benchmarks. As anticipated, F.P. Journe's creations were particularly outstanding. François-Paul Journe, celebrated as one of the most influential independent watchmakers, has cultivated a fervent following over the past decade. His unique watches consistently generate intense competition at auctions, with the 13 F.P. Journe pieces offered in Geneva collectively realizing 31.8 million francs ($38.9 million). Among the record-setting F.P. Journe watches were two Chronographe FB “Tokyo Boutique” exclusives and a diamond-encrusted Vagabondage III.

Independent Watchmakers Shine

Beyond F.P. Journe, other independent watchmakers also garnered significant attention. Philippe Dufour's early platinum Simplicity sold for $2.4 million, Roger Smith's unique two-tone Series 1 with Eastern Arabic numerals reached $1.1 million, and Voutilainen's distinctive tantalum Vingt-8 Inversé achieved a record $1.9 million.

Patek Philippe and Rolex: Enduring Classics

Patek Philippe also had a strong showing, with a Ref. 1436—one of only two known examples with its original steel case and dial configuration—selling for 6.3 million francs ($7.7 million), establishing a new record for any split-seconds chronograph. Additionally, a steel Ref. 530 Calatrava and a yellow-gold Ref. 1518 perpetual calendar chronograph each sold for 1.1 million francs ($1.3 million). For Rolex collectors, a newly discovered Ref. 6062 “Stelline” fetched $2.8 million, and a yellow-gold Ref. 6241 Daytona “John Player Special” realized $2.3 million. While Cartier watches did not reach the million-dollar threshold—two Crashes each sold for approximately $430,000—a rare Cartier Portico Mystery Clock achieved an impressive $5.9 million, setting a new record for any Cartier timepiece.

A Testament to Market Vitality

Alexandre Ghotbi and Tiffany To of Phillips expressed their exhilaration in a statement, calling the achievement of the first-ever $100 million watch auction an "extraordinary milestone." They emphasized that this success is not merely about the numbers but represents "a celebration of the strength and vitality of the market, and of the exceptional auction we have had the privilege of putting together." Phillips has two more significant watch auctions scheduled—one in Hong Kong in late November and another in New York in early December—suggesting that additional records may yet be broken this year.