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.
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Key Highlights
- 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 lots and their results.
F.P. Journe – 1
F.P. Journe – 2
Patek Philippe
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Voutilainen
De Bethune
A. Lange & Söhne
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Our Thoughts
F.P Journe dominated an auction once again. As a modern independent brand helmed by its namesake and genius founder / 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, recent pieces (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 that showcases the complete list of the auction lots, their descriptions and sale prices.
