Watches

Record auction for The Royal Oak 50th

Last weekend, Geneva hosted the most eagerly awaited auctions of the year, including The Royal Oak 50th organised by Phillips, in association with Bacs & Russo. Sales of Audemars Piguet's historic models more than tripled estimates.

Eva Morletto

By Eva Morletto11 mai 2022

The Royal Oak, reference 5402ST A2, sold for $1.1 million, five times the estimated price (Phillips)

The auction featured 88 exceptional pieces, including some of the rarest and most iconic watches in the history of the Royal Oak. More than 400 collectors from around the world (54 countries) came to bid on the rare models and more than a thousand enthusiasts registered online. The result: sales totalled $22.6 million (22,303,780 Swiss francs). The Royal Oak, reference 5402ST A2, sold for $1.1 million, five times the estimated price. It was one of four historic models presented at the Basel Fair in 1972, watches that had revolutionised classic watchmaking with their unusual sporty-chic style.

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In second place was a Royal Oak model with a platinum perpetual calendar, brown dial and double Asprey signature. This model fetched $1.03 million, followed closely by a black steel Royal Oak Jumbo model that belonged to Karl Lagerfeld and sold for $951,000.

It was a weekend of great success for Geneva and the watch sector, as the Geneva Watch Auction on 7 and 8 May concluded with a record 61.2 million Swiss francs. The most expensive piece: a Patek Philippe Pink on Pink from the 1940s sold for nearly 3.3 million francs.

The popularity of these auctions is only confirmation that the watch remains a pleasure assett (an asset that combines passion and long-term investment) that cannot be ignored.

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