Phillips in Association with Bacs & Russo announced that its first watch auction series taking place at the company’s new Asia headquarters in Hong Kong realised HK$220 million (HK$220,570,510)/ US$28 million (US$28,151,257).
Held over three days from 23-25 May, international collectors participated across 63 countries, with more than 1,800 participants vied for rare and historic timepieces in the room, online, and over the phone.
Thomas Perazzi, Head of Watches, Asia, Phillips, said, “Our inaugural watch auctions at Phillips’ new Asia headquarters was met with enormous enthusiasm from the international collecting community, reaffirming the strength of the market across different levels… We were also very pleased to see fierce competition for timepieces by Asian independent watchmakers, with record prices achieved for Kiu Tai Yu, the first Chinese watchmaker to build a tourbillon, and Hajime Asaoka, Japan’s legendary watchmaker.”
Alex Shishlo for Rough&Polished
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