Phillips in Association with Bacs & Russo just concluded their New York Watch Auction: XIII. Held during 6th – 7th December at their Park Avenue headquarters, it achieved a result of USD $43.5 million.
Key Highlights
- With 144 lots sold at $43.5 million, it was the highest watch auction total in U.S. history.
- It was the 5th consecutive year of a “white glove” or 100% of the lots sold at live auctions.
- 7 watches sold for more than $1 million at the same auction.
- Francis Ford Coppola’s F.P. Journe FFC achieved $10.8 million – a new world record for an independent watchmaker, and the highest result for a watch sold at auction since in the U.S. since Paul Newman’s Rolex “Paul Newman” Daytona in 2017.
“With over 2,000 registered bidders, we proudly closed Phillips in Association with Bacs & Russo’s 10th anniversary year on an incredibly high note. Collectors responded enthusiastically to the opportunity to acquire Francis Ford Coppola’s personal timepieces, achieving stellar results for all seven watches consigned by the Hollywood icon. From the record-breaking FFC Prototype, to the Chronomètre à Résonance “FFC” that soared to $584,500, to the no reserve Breguet that sold for 15 times its low estimate, it is clear that the admiration for Mr. Coppola and his taste in watches cannot be overstated. We are honoured to have been entrusted with his collection. These successes, alongside extraordinary prices for Philippe Dufour’s Duality and Simplicity No. 01, as well as rare examples from Rolex, Patek Philippe, and Omega, reaffirm the strength and depth of the global market for exceptional watches. The remarkable results of The New York Watch Auction: XIII reflect not only the unprecedented demand for rarity and provenance, but also the tireless dedication of our team, whose expertise and passion continue to set the benchmark for excellence.” – Paul Boutros, Deputy Chairman and Head of Watches, Americas, and Isabella Proia, Head of Sale and Senior International Specialist.
We take a close look at few watches that achieved spectacular results.
Our Thoughts
This auction highlights the immense desirability of F.P. Journe – a relatively new independent watchmaker (founded in 1999) that in the secondary market is as hot (presently maybe more so) as Patek Philippe and Rolex – the usual auction market kings. The brand’s Élégant 40 “Platinum” (their quartz watch originally intended for ladies) sold for $152,400 (estimate of $30,000 – $60,000) and Chromètre Souverain in platinum (the closest they have to an “entry-level” model) sold for $158,750 (estimate of $20,000 – $40,000).
In addition to the F.P. Journe FFC Prototype, other watches owned by Francis Ford Coppola did exceptionally well. His Chronomètre à Résonance “FFC” – (a birthday present from his late wife Eleanor, and the watch that got him hooked onto the brand that led to his friendship with F.P. Journe) sold for $584,200 (estimate $120,000 – $240,000). His IWC Portugieser Chronograph, Breguet Classique, Patek Philippe Calatrava 3919, and World Time 5130G sold well above their estimates, emphasising that provenance can make an enormous difference in certain instances.
Independent watchmaking generally did well. Berneron’s Mirage 38 Sienna sold for $190,500 (estimate of $40,000 – $80,000), De Bethune’s DB28 Tourbillon “Black Gold” sold for $152,400 (estimate of $60,000 – $120,000), and Ondřej Berkus “Minion Two” sold for $137,160 (estimate of $30,000 – $60,000).
Please visit the Phillips website for the complete auction results.
