Phillips watch auction sales show strength in Asia after near £11m Hong Kong haul

Phillips has achieved a total of £23.4m in watch auction sales so far this year, following a £10.9m Hong Kong Watch Auction: SEVEN sale.

The most recent auction saw 241 of 259 lots go under the hammer, a collection which attracted bidders from fifty countries and six continents.

The 510 online bidders taking part across the auction also broke Phillips’ record for the number of online bidders in one auction.

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The auctioneers, headquartered in the US, highlighted particularly strong results for vintage wristwatches and antique pocket watches such as the Patek Philippe pocket watch with tourbillon which went for £327,500.

Other standouts from the auction include a Rolex ‘Paul Newman’ and a Patek Perpetual Calendar which sold for £609,355 and £429, 014, respectively.

The Rolex ‘Paul Newman’ alongside the Patek Philippe Perpetual Calendar, the two top lots at Phillips’ Hock Hong Watch Auction: SEVEN

Thomas Perazzi, Phillips’ head of watches in Asia, commented on the auction popularity it is currently seeing in Asia. He stated: “As Phillips continues to expand its presence in Asia and offer best-in-class quality, service and passionate scholarship to collectors in the region, this season we saw astonish international participation, with collectors bidding from across six continents, resulting in extraordinary results across the board.

He added: “The community of watch collectors in Asia showed particularly fierce competition for vintage wristwatches, demonstrating a growing interest in this field. In a crowded room, with an unprecedented number of online, telephone and room bidders, numerous watches soared above their high estimates, setting many exceptional prices.”

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Alex Douglas

The author Alex Douglas