Super-collectors and top end watch traders parted with over $50 million during a week of auctions by Phillips in Association with Bacs & Russo in Geneva last week.
Pre-sale estimates were on the cautious side, and this appears to have piqued interest in the sales, particularly for the rarest and most desirable lots.
For Phillips, that included a Rolex Ref. 6270 “The End Game”, which sold for CHF 3.6 million and Patek Philippe’s pink gold second series Ref. 2499 perpetual calendar, which hammered at CHF 3.2 million while the same reference in yellow gold CHF 2.3 million.
The centrepiece Geneva Watch Auction: XVII’s total sales of $52,488,707 was more than double the pre-auction total of all low estimates.
It has been widely reported that the autumn auction season was on the more muted side, but this two-day Phillips auction generated its third highest total in history.
Alexandre Ghotbi, head of watches, Europe, and Middle East and Tiffany To, senior international watch specialist and head of sale, believe the results show both resilient demand for the right timepieces, and the power of a great team working with collectors and traders.
“We are extremely grateful to our consignors and bidders who placed their trust in us and supported us throughout this auction. The market’s unwavering resilience and insatiable appetite for high-quality, rare and relevant timepieces, both modern and vintage, is truly remarkable. We are thrilled to maintain our position as the market leader in the field of watch auctions in Geneva and credit this success to the hard work of the Phillips watches teams worldwide and the unwavering support of our clients, consignors, and bidders,” they say.
Independent makers have been stars of the auction scene over the past two years, and Phillips presented high quality examples from F.P. Journe, Kari Voutilainen, De Bethune, Daniel Roth, MB&F, Roger Smith and Urban Jürgensen.
The Naissance d’une Montre II project Greubel Forsey x Urwerk x Dominique Buser x Cyrano Devanthey sold for CHF 406,400.
A Philippe Dufour Grande and Petite Sonnerie pocket watch made for Audemars Piguet sold for CHF 889,000.
As WatchPro reported yesterday, the first watch out of the house of Biver sold forCHF 1,270,000.
Top ten hammer prices at Phillips Geneva Watch Auction: XVII
ROLEX, Ref. 6270 “The End Game”
An incredibly rare yellow gold chronograph wristwatch with diamond-pavé dial, sapphire indexes, baguette diamond-set bezel, caseback sticker and bracelet.
Sold for CHF 3,690,000
PATEK PHILIPPE, Ref. 2499
A “Second Series” pink gold perpetual calendar chronograph wristwatch with moonphases.
Sold for CHF 3,206,000.
PATEK PHILIPPE, Ref. 2499
A “First Series” yellow gold perpetual calendar chronograph wristwatch with moonphases.
Sold for CHF 2,359,000.
ROLEX, Ref. 6541 Milgauss “The Pinnacle”
An amagnetic stainless steel wristwatch with honeycomb dial, “lightning” hand, bracelet, chronometer certificate, guarantee, hang tag and presentation box.
Sold for CHF 2,238,000.
BIVER
A unique titanium carillon minute repeating tourbillon wristwatch prototype with obsidian dial and bracelet.
Sold for CHF 1,270,000.
PATEK PHILIPPE, Ref. 5531R-012 Lavaux Landscape
A pink gold minute repeating world time wristwatch with miniature cloisonné enamel dial, certificate of origin, additional caseback and presentation box, single sealed.
Sold for CHF 1,168,400.
PATEK PHILIPPE, Ref. 5004
A stainless steel perpetual calendar split seconds chronograph wristwatch with moon phases, 24 hours, leap year indicator, original certificate, additional caseback and presentation box.
Sold for CHF 939,800.
PHILIPPE DUFOUR FOR AUDEMARS PIGUET
An open face two-train minute repeating pocket watch with grande and petite sonnerie, retailed by Asprey.
Sold for CHF 889,000.
PATEK PHILIPPE, Ref. 1579
A yellow gold chronograph wristwatch with “Spider” lugs and engraved/enamelled Breguet numerals.
Sold for CHF 793,750.
PATEK PHILIPPE, Ref. 3448
A white gold perpetual calendar wristwatch with moon phases, small date ring and “Sigma” designation, original certificate and presentation box.
Sold for CHF 787,400.
