Watch Auctions: Phillips Passes $100 Million, Schedule Through Late 2026
A historic record in Geneva with $112.3 million at Phillips. Hong Kong and New York take over through December: dates, highlights, and market analysis.
The autumn watch auction season kicks off with a historic record: $112.3 million for the Phillips Geneva sale, a first above the 100 million mark. Christie's and Sotheby's followed in quick succession, ahead of Hong Kong in late November and New York in early December. Here is the complete schedule, the key pieces to watch, and what these figures really say about the market.
Geneva: Phillips Breaks the 100 Million Barrier
On November 7 and 8, the Geneva Watch Auction: XXIV by Phillips in association with Bacs & Russo totaled 92 million Swiss francs, or $112.3 million. It is the highest-grossing watch auction in history, and the first live sale to exceed 100 million. All 217 lots found buyers, with 2,121 bidders from 69 countries and 24 world records.
Lot | Price (including fees) |
|---|---|
F.P. Journe Chronomètre à Résonance “Régence”, platinum, 2002 | CHF 8.68 million ($10.6 million) |
Patek Philippe ref. 1436 split-seconds chronograph, steel, 1945 | CHF 6.27 million ($7.6 million) |
Cartier Portique No. 4 mystery clock | $5.9 million |
Rolex ref. 6062 “Stelline”, yellow gold | $2.8 million |
Rolex Daytona ref. 6241 “John Player Special”, yellow gold | $2.3 million |
Sources: Phillips, JCK, Forbes, Robb Report.
Three key takeaways emerge. F.P. Journe confirms its status as a safe haven for collectors: its 13 lots alone accounted for more than a third of the sale. Vintage Patek Philippe remains the ultimate benchmark, with the 1436 setting a record for a split-seconds chronograph. And Cartier set a new record for the house at auction.
Sotheby's held its Important Watches sale on November 8 at the Mandarin Oriental hotel, led by pieces from A. Lange & Söhne and George Daniels. Its Fine Watches online sale closes on November 10. Christie's wrapped up the Geneva week on November 9 with Rare Watches, featuring 218 lots benefiting, among others, the ELA Association. Highlights included a gold Nautilus 3700/1 made for the Sultan Qaboos of Oman, a 1948 Patek 1518, and five ruthenium-finish F.P. Journe watches formerly owned by Michael Schumacher, together estimated between 2.2 and 4.2 million Swiss francs. The results will be detailed in an upcoming article.
Upcoming Auction Schedule
Date | Auction House | Sale | Location |
|---|---|---|---|
Nov. 21 and 22 | Phillips | The Hong Kong Watch Auction: XXIII | Hong Kong |
Nov. 25 | Christie's | The Iconic 40 Watches Evening Sale | Hong Kong |
Nov. 26 | Christie's | Important Watches (Kronos Collection) | Hong Kong |
Dec. 4 | Phillips | Kyobai: The Japan Edit | Hong Kong |
Dec. 5 and 6 | Phillips | The New York Watch Auction: XV | New York |
Dates provided by the auction houses. Public previews take place a few days before each sale.
Hong Kong: The Major Late November Event
Phillips is presenting 329 lots on November 21 and 22, with the highest overall pre-sale estimate ever achieved by the house in Hong Kong. The headliner is a Patek Philippe ref. 2499 first series in yellow gold. In May, a first series 2499 in rose gold fetched HKD 80.37 million, or $10.3 million, an absolute record for a watch sold in Asia. Another highly anticipated piece is the F.P. Journe “Parking Meter” from collector Mark Cho, estimated between HKD 6 million and HKD 12 million. The public preview runs from November 16 to 22 in the West Kowloon district.
Christie's is celebrating its 40th anniversary in Asia with an evening sale of 40 watches on November 25, including 23 Patek Philippe models. It is led by a Sky Moon Tourbillon ref. 5002P, estimated at up to HKD 43 million. The following day, the Important Watches sale will feature a second Sky Moon Tourbillon and the next part of the “Kronos: Titans of Time” collection.
New York to Close Out the Year
Phillips closes the season in New York on December 5 and 6, with a preview from December 2 to 4. The announced centerpiece is a Patek Philippe ref. 2499 second series in rose gold. In June, the same New York sale reached $75.8 million, a record for a watch auction in the United States. A year earlier, an F.P. Journe owned by Francis Ford Coppola went for $10.8 million there.
What These Records Tell Us About the Market
These spectacular figures only describe a tiny fraction of the market. Records are concentrated on unique pieces with strong provenance and in pristine condition: vintage Patek Philippe and Rolex, and independents like Journe, Dufour, or Voutilainen. According to WatchPro, prices for “trophy” pieces are actually plateauing, and it is primarily the volume of exceptional lots driving up the totals.
For standard references, the trend is different. Prices for the most widely distributed pre-owned Rolex and Patek models have declined since their 2022 peak. Today's watch market operates at two speeds: the ultra-rare soaring, while the rest normalizes. To track the value of more accessible models, consult the Osterman Patek Philippe and Rolex indexes.
Bidding: What You Need to Know
Buyer's premium is added to the hammer price and often exceeds 20%. Prices published by auction houses include these fees.
Online sales are the most accessible entry point, with estimates starting at a few thousand euros.
Previews are free and open to the public: it is a great opportunity to see extremely rare pieces up close.
Condition and provenance drive most of the price. An original dial or an unpolished case can multiply the value.
Sources: Phillips, Christie's, Sotheby's, JCK, Forbes, WatchPro, SJX, Robb Report.