Phillips in Association with Bacs & Russo achieves CHF 47,172,380 / $52,488,707 / €47,993,179 in The Geneva Watch Auction: XVII, more than doubling the pre-sale low estimate of CHF 20 million and continuing an over two-year streak of selling 100% of lots offered.
Held over two days on 13 and 14 May, watch aficionados participated from across 69 countries, contributing to the electric atmosphere in the saleroom at La Réserve Hotel, which welcomed 600 collectors, alongside 1,675 bidders competing online on Phillips.com.
100% of the 203 watches offered were sold, with Phillips selling two watches for above the $3 million mark, the only auction house to achieve such a feat last week.
The weekend in Geneva marked an important moment for Phillips’ market leadership. The strength of the results was evident with an average lot price surpassing CHF 232,000. Moreover, the sale total was the highest achieved this season in Geneva, making it not only Phillips' third highest sale total ever but also the third highest ever achieved in the field of horology.
The auction was filled with thrilling moments, with the star lot undoubtedly stealing the show. The Rolex Ref. 6270, affectionately called "The End Game," fetched an astonishing CHF 3,690,000, shattering the previous world record for any Rolex Ref. 6270 ever sold. This exceptional chronograph wristwatch in yellow gold boasts stunning jewels and is one of only eight known pieces in the market.
One of the most highly anticipated lots was the Patek Philippe reference 2499 second series perpetual calendar chronograph in pink gold, widely considered a pinnacle of watch collecting. Following an intense bidding war, the timepiece eventually sold for an impressive CHF 3,206,000. Only eight pink gold Second Series ref. 2499 models are known to exist, with these watches often referred to as the Mona Lisa of watch collecting.
Leading the section of independents was the Biver Carillon Tourbillon, a unique titanium carillon repeating tourbillon prototype belonging to Jean-Claude Biver. The timepiece captured the public’s attention and sold for an astounding CHF 1,270,000 after a seven-minute bidding war between collectors in the saleroom, on the phones and online, ending in a round of frenetic applause.
Alexandre Ghotbi, Head of Watches, Europe, and Middle East and Tiffany To, Senior International Watch Specialist and Head of Sale, commented: 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."
Alex Shishlo for Rough&Polished
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