Phillips in Association with Bacs & Russo achieves over CHF 30 million in the Geneva Watch Auction XI with 100% of lots sold and a record number of 2,000 online bidders. New world records at auction include a Patek Philippe Reference 1518 from 1948 in pink gold with pink dial selling for CHF 3.4 million Swiss Francs—$3.6 million USD— and two extremely rare F.P. Journe watches, a Tourbillon Souverain and a Resonance both from his original “Souscription” Series achieving a combined total of CHF 2.4 million Swiss Francs.
Exceeding the pre-sale estimate of CHF 12.2 million to CHF 23.2 million, this marked the first live watch auction in 2020 with in-room bidding since the lockdown was lifted and saw numerous world records achieved across multiple watch brands. Despite the current climate, Phillips continues to attract an increasing number of collectors, with bidders from across 70 countries raising their paddles, including an unprecedented number of over 2,000 online bidders, double that of May 2019.
This is both the first-ever white-glove sale —100% of lots sold— and the highest sale total for a non-thematic various owner watch auction, exceeding the May 2019 sale total by 20%. The tightly curated offering of 210 collector watches of exceptional quality was highlighted by the four Patek Philippe cover-lots, the property of watch industry titan Mr. Jean-Claude Biver, selling for a total of CHF 8,307,500 against a pre-sale estimate of CHF 3.3 million to CHF 6.6 million.
Patek Philippe models once again dominated the sale, with three timepieces from Mr. Biver’s private collection making it to the top ten, with two of those achieving world auction records, like the spectacularly preserved Patek Philippe ref. 2499 second series in yellow gold —lot 155— which sold for CHF 2.6 million Swiss Francs. This extremely rare and important perpetual calendar chronograph set a world record for a Patek Philippe ref. 2499 second series in yellow gold. A further lot to soar above the $2 million USD mark was the final lot of the sale —lot 214—, one of only three known ref. 1579 chronographs in platinum with blue hard enamel graphics and spider lugs, which sold for CHF 1,940,000 Swiss Francs.
Finally, a pink gold open face world time Patek Philippe pocket watch ref. 605 HU with an incredibly vibrant cloisonné enamel dial depicting a map of Europe, Asia, Africa, previously unknown and most probably unique, sold for CHF 1,160,000, setting a new world record for the reference.
Iconic vintage sports watches achieved remarkable results with Patek Philippe Nautilus and Audemars Piguet Royal Oak models performing extremely well, in particular, a white gold Nautilus ref 3700 —lot 14— selling for CHF 740,000 and fetching a new world record for this variant. Exceedingly rare, this watch is one of only eleven known reference 3700s cased in white gold.
An auction room favorite, Rolex achieved two world records including a superbly well-preserved yellow gold ref. 6241 Paul Newman John Player Special —lot 78— selling for CHF 1,040,000 and a ref. 6232 in pink gold selling for CHF 740,000.
The Independents’ Atelier, the section dedicated to independent watchmakers, a field that Phillips has long supported and is the market leader in the auction world, sold 100% by lot. Highlights included the ground-breaking Opus 3 Vianney Halter for Harry Winston —lot 142— in platinum that sold for CHF 168,750 and a unique Kari Voutilainen Vingt-8 with enamel and engraved case back in white gold —lot 141— that sold for CHF 125,000. The Singer Reimagined Track 1 prototype —lot 100— sold for CHF 52,500 and set a world record for any Singer Reimagined at auction.
With a new auction set-up where health and safety were the top priority, social distancing was fully respected in the saleroom, with all available seats occupied. Meanwhile, Phillips Hong Kong organized a fully functioning movie theatre at the Soho Club, in the so-called Pink Room. On both Saturday and Sunday evening, up to 40 collectors gathered to follow the sale live, bidding, and participating as if they were in the Geneva salesroom.
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