The Phillips New York Auction: XIV achieves amazing results
• F.P. Journe did exceptionally well, setting several world records. • Patek Philippe was spectacular as ever. • Independents such as Roger Smith, Urban Jurgensen and Voutilainen achieved exceptional results.
Phillips in Association with Bacs & Russo recently concluded their New York Watch Auction: XIV held during 13th – 14th June at their Park Avenue headquarters. The auction achieved a total sale result of USD $75.8 million.
The total sale of USD $75,807,200 for 158 lots marks five and a half consecutive years of a “white glove” or 100% of the lots sold at a live watch auction for Phillips New York.
This auction also marks the first time and “an industry first” that Phillips sold three watches for more than USD $10 million in a single season across three continents (Geneva, Hong Kong and New York).
The F.P. Journe Chronomètre à Résonance “Souscription, No. 007″ sold for USD $13,922,000 and broke three world records: highest price paid for an F.P. Journe watch, highest price paid for a watch by an independent watchmaker, and highest price paid “for any 21st century watch in a commercial sale.”
16 watches sold for more than USD $1 million and several world records for Patek Philippe, Roger Smith, Urban Jurgensen and Voutilainen.
In their own words.
“This season’s results in New York mark a watershed moment for the watch market. To once again break the record for the most valuable watch auction ever held in the United States—just six months after establishing the previous benchmark—speaks to the remarkable confidence and depth at the very pinnacle of collecting. The industry-leading, $13.9 million result for the F.P. Journe Souscription Résonance stands as a historic achievement, not only for the brand but for the entire field of independent watchmaking. Across the sale, from a museum-quality Patek Philippe to the most revered contemporary independents, we witnessed spirited, global competition, as bidders from a third of the world’s countries vied for these important timepieces, driven by rarity, provenance, and uncompromising craftsmanship. Phillips’ unprecedented milestone of selling three watches above $10 million in a single season firmly underscores the commitment of our team — passionate collectors ourselves — to quality and excellence, as well as the enduring cultural significance of the extraordinary timepieces.” – Paul Boutros, Deputy Chairman and Head of Watches, Americas, and Isabella Proia, Head of Sale and Senior International Specialist.
We look at few of the results.
F.P. Journe – 1
Left: Lot 10. F.P. Journe, Chronomètre à Résonance “Souscription, No. 007″, circa 2000. Sold for USD $13,922,000. (Estimate was in excess of $1 million.) An “end game” F.P. Journe as described by Aurel Bacs, it broke three world records (described in the key highlights above). F.P. Journe owns the other example, which he will most likely exhibit in his upcoming museum in Geneva. Right: Lot 85. F.P. Journe, Tourbillon Souverain Anniversaire “Hong Kong”, “Number 1 of 5”, circa 2010. Sold for USD $4,355,000. (Estimate was USD $600,000 – 1,200,000.) World auction record for this model.
F.P. Journe – 2
Left: Lot 83. F.P. Journe, Octa Chronographe “Swiss Fine Timing”, 2008. Sold for USD $2,032,000. (Estimate was USD $200,000 – 400,000). World auction record for this model. Middle: Lot 84. F.P. Journe, Chronomètre Souverain “Swiss Fine Timing”, 2008. Sold for USD $1,968,500. (Estimate was USD $100,000 – 200,000). World auction record for this model. Swiss Fine Timing is a Chicago based luxury watch boutique that carries prestigious watch brands. Though they do not carry F.P. Journe anymore. Right: Lot 79. F.P. Journe, Tourbillon Anniversaire Historique “T30”, 2014. Sold for USD $2,032,000. (Estimate was USD $600,000 – 1,200,000). World auction record for this model.
Patek Philippe
Left: Lot 88. Patek Philippe, Ref. 5004G-020 “Eric Clapton”, 2008. Sold for USD $5,202,000. (Estimate was USD $700,000 – 1,400,000). World auction record for this model. Right: Lot 101. Patek Philippe, Ref. 1518 in 18 karat rose gold with silver dial, 1948. Sold for USD $3,992,000. (Estimate was USD $1,200,000 – $2,400,000). World auction record for this configuration.
Left: Lot 105. Voutilainen, Masterpiece Chronograph II “Number 1 of 10”, circa 2012. Sold for USD $1,841,500. (Estimate was USD $120,000 – 240,000). World auction record for the brand. Middle: Lot 140. Voutilainen, Vingt-8 ISO, circa 2017. Sold for USD $1,206,500. (Estimate was USD $100,000 – 200,000). Right: Lot 9. Voutilainen, Vingt-8 Inversé. Sold for USD $1,155,700. (Estimate was USD $100,000 – 200,000). Great results for Finnish independent watchmaker Kari Voutilainen’s namesake brand, and one of the OG independent watchmakers.
De Bethune
Left: Lot 138. De Bethune, Ref. DB8RETIS1, DB Eight, circa 2024. Sold for USD $107,950. (Estimate was USD $30,000 – 60,000). Middle: Lot 81. De Bethune, Ref. DB25VUS, DB25 Starry Varius “Number 1 of 5”, circa 2022. Sold for USD $120,650. (Estimate was USD $20,000 – 50,000). Right: Lot 71. De Bethune, Ref. DB28XSZM, DB28 “Aerolite”, circa 2025. Sold for USD $ 177,800. (Estimate was USD $30,000 – 60,000). Not headline grabbing results, but well above their estimates. These results highlight the immense collectability and auction potential of this avant-garde independent brand that crafts exceptional watches.
A. Lange & Söhne
Left: Lot 2. A. Lange & Söhne, Ref. 117.040, Grande Lange 1 Limited Edition for Dubail Paris, circa 2020. Sold for USD $279,400. (Estimate was USD $40,000 – 80,000). Middle: Lot 41. A. Lange & Söhne, Ref. 345.056, Lange 1 Perpetual Calendar, circa 2023. Sold for USD $158,750. (Estimate was USD $60,000 – 120,000). Right: Lot 33. A. Lange & Söhne, Ref.223.032, 1815 Up/Down Homage to Walter Lange, circa 2007. Sold for USD $52,070. (Estimate was USD $18,000 – 36,000). Like De Bethune (above), not headline grabbing results, but above their estimates. This was true for other Lange lots in the auction. Lange is often considered the fourth member of the Holy Trinity and they combine exceptional watchmaking, a distinctive design identity and rarity (not more than 5000 watches per year). The brand is definitely collectable and has immense auction potential moving forward.
Our Thoughts
F.P Journe dominated the auction once again. As a modern independent brand helmed by its namesake founder and genius watchmaker, the brand is “hot” right now and has an appeal that is second to none. And it does not seem to be slowing down anytime soon.
Patek Philippe did exceptionally well (as always), and there were a handful of stellar results from independents such as Roger Smith, Richard Mille and Urban Jurgensen as well as mainstreams such as Rolex. De Bethune and A. Lange & Söhne held their own. Vacheron Constantin’s results showcase immense auction potential.
The auction catalogue comprised of vintage pieces, neo vintage pieces as well as recent (perhaps discontinued) and even a few current catalogue pieces. There was “something for everyone” and not necessarily for the “heavy hitters” aiming for a Journe, Patek, Rolex and Voutilainen.
Click here to visit the Phillips website which shows the complete list of the auction lots, their descriptions and sale price.
