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Phillips X Bacs & Russo - The Geneva Watch Auction XIII results

Phillips X Bacs & Russo The Geneva Watch Auction XIII results

Over CHF 38 million for the Most Successful Watch Auction Ever Held with 100% Sell Through Rates and More than Doubling the Low

Phillips in Association with Bacs & Russo achieved an unprecedented auction result this weekend for The Geneva Watch Auction: XIII, its second non-thematic ‘white glove sale’ with a total of CHF 38,120,550, selling 100% by lot and 100% by value. It marks the highest ever result for a non-thematic or charity watch sale, with a sale total of over 2.5 times the pre-sale low estimate of 14 CHF million.

This sale, one of the most promising and acclaimed this season, offered 233 collector’s watches of premium quality, condition and provenance – all carefully hand-picked by Phillips’ team of specialists after an extremely selective process. Once again, Patek Philippe demonstrated its supremacy with an impressive selection of collectible models, led by the cover lot, the earliest made and previously unknown to the market Patek Philippe reference 2523 with “Eurasian” dial from 1953 (lot 33), one of only three examples known to date with a cloisonné enamel dial, selling for CHF 7.048,000. The watch doubled its pre-sale estimate and achieved not one but two new world records: the highest price ever for a Patek Philippe wristwatch with enamel cloisonné dial and for any yellow gold wristwatch ever sold at auction. This wristwatch is unarguably one of the most important timepieces in existence.

New World Record for Highest Price for a Patek Philippe Two-Crown Wristwatch with Cloisonné Enamel Dial

Silk Road © Phillips

Other impeccable Patek Philippe models did not disappoint either, with the legendary Patek Philippe Calatrava Ref. 570 (lot 160), one of the world’s most sought-after watches, captivating online and phone bidders alike, eventually selling for CHF 3,297,000, 16 times its pre-sale low estimate.The highly awaited and spectacularly well-preserved set of four Patek Philippe reference 2499 (1st, 2nd, 3rd and 4th series), sold for a combined total of: CHF 5,7 million.

The Geneva Watch Auction: XIII

Patek Philippe Ref. 2499 © Phillips

One cannot fail to mention the triumphant return of vintage and modern Cartier models on the scene, proof that noteworthy and forward-thinking design is the key to success – remarkable results include an extremely rare and unusual yellow gold wristwatch (lot 88), retailed by Cartier London nicknamed “The Pebble” or “Baseball” that sold for: CHF 403,200. In addition, an exceptionally rare and highly important yellow gold tortue-shaped single-button chronograph wristwatch (lot 89) sold for CHF 189,000.

The Independents’ Atelier, thenow highly anticipated section dedicated to independent watchmaking, saw a Roger Smith Series 1 “Onely Theo Fennell” (lot 145) break a world record for any Roger Smith watch sold at auction, selling for CHF 541,800, 14 times its pre-sale low estimate and now ranking as the highest auction price ever achieved for a wristwatch by a British Watchmaker.

Other notable ground-breaking results include a Harry Winston/F.P. Journe Opus 1 “Turquoise Tourbillon” (lot 142) in platinum that sold for CHF 453,600, and a sculptural Richard Mille Ref. RM022 (lot 31) limited edition red quartz TPT, presented on the market for the first time, sold for CHF 756,000.

Impressive results were achieved by other models from prestigious independent watch brands such as FP Journe, Laurent Ferrier, MB & F, and De Bethune, to name just a few.

 

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