The historic Geneva event brought in a total of CHF 92 million across 217 cataloged lots, achieving a flawless 100 percent sell-through rate. Bidders from 69 countries competed for exceptional timepieces, producing 24 world records and pushing 17 individual lots past the million-franc threshold. The sale was propelled by exceptional independent watchmaking, with 13 pieces from F.P. Journe alone generating CHF 31.8 million. Prominent museum-grade classics also posted massive results, highlighted by a stainless-steel Patek Philippe Ref. 1436 split-seconds chronograph that realized CHF 6,267,000.
Key points
Phillips in Geneva established a new global milestone by conducting the first live watch…: Phillips in Geneva established a new global milestone by conducting the first live watch auction to surpass $100 million.
The sale of the top lot marked the fifth consecutive live Phillips event featuring a watc…: The sale of the top lot marked the fifth consecutive live Phillips event featuring a watch that surpassed $10 million.
Demand for independent horology proved exceptionally high as 13 F.P. Journe timepieces re…: Demand for independent horology proved exceptionally high as 13 F.P. Journe timepieces realized a collective CHF 31.8 million.
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The F.P. Journe Chronomètre à Résonance ‘Régence’ sold for CHF 8.68 million (approximately US$10.59 million) at Phillips’ Geneva sale this month. It was not the only watch to fetch a price that watch collectors rarely see on a price tag. The two-day auction at Hotel President brought in CHF 92 million across 217 lots, with every watch finding a buyer. The auction house says this is the first live watch auction to surpass US$100 million.
Alexandre Ghotbi, Deputy Chairman and Head of Watches, Europe and Middle East, and Tiffany To, Senior International Watch Specialist and Head of Sale, said the first-ever $100 million watch auction was ‘an extraordinary milestone’.
‘It is a testament to the impeccable quality of the watches, the remarkable diversity of the collection and, above all, the trust placed in us by our consignors and buyers,’ Ghotbi said in a release.
The Régence was the highlight of a sale in which the prices across the board were already exceptionally high.
A never-before-seen auctionPhillips, working with Bacs & Russo, held The Geneva Watch Auction: XXIV at Hotel President…
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