All-time Record for Phillips Auctions With Over $100 Million in Sales

Another highlight was the auctions held on November 7 and 8, which set all-time records, including one by Phillips in partnership with Bacs & Russo, where the total for the 217 lots sold reached 112.3 million U.S. dollars (92.0 million Swiss francs / 100.8 million euros).

Fine watchmaking, rare timepieces, and the allure of the elusive constitute what could be called today’s winning formula. This observation largely shaped the jury’s selection for the 26^th edition of the Grand Prix d’Horlogerie de Genève. Among the winners were an Audemars Piguet Royal Oak “Jumbo” Flying Tourbillon Automatic Chronograph Extra-Thin RD#5 “150th Anniversary” watch, produced in a limited run of 150 pieces; a Konstantin Chaykin ThinKing Mystery, the thinnest watch on the market and crafted in a limited run of just twelve pieces; and the Louis Vuitton – Tambour Taiko Arty Automata wristwatch, produced in a run of nine pieces. All of these pieces are sure to be the stars of future auctions in the coming decades.

This is precisely what enabled Phillips, in partnership with Bacs & Russo, to break the sales record for a live auction last weekend. Rarity drove the buyers, whom Aurel Bacs, the highly renowned auctioneer, knew how to captivate

The Cartier Portico No. 4 mystery clock, created in 1924, fetched 4.815 million francs, setting a world auction record for a timepiece from the house. Another record was set in a more unconventional category: the square Rolex Ref. 3830 “Verga,” likely a one-of-a-kind piece, sold for 1.27 million francs—a record for a non-Oyster Rolex chronograph.

The thirteen F.P. Journe watches, meanwhile, brought in a combined total of 31.8 million francs, accounting for more than a third of the auction’s total proceeds. Leading the way was the “Régence” Resonance Chronometer, featuring a hand-engraved rose gold dial, which fetched 8.68 million, followed by the Tokyo Boutique Resonance Chronometer at 6.146 million and the diamond-set Vagabondage III at 5.057 million.

In total, these auctions brought in 92 million francs, including fees, making it, according to Phillips, the first in-person watch auction to surpass $100 million.