Phillips Achieves Second-Highest Sale Total in the History of Watch Auctions

Last week was truly eventful in the world of watch auctions. Phillips achieved stellar results with a combined sum of $57,915,758 USD from its two thematic auctions: the Geneva Watch Auction: XX and the Reloaded: The Rebirth of Mechanical Watchmaking 1980-1999. The result also marked the second-highest sale total in the history of watch auctions.

The F.P.Journe Tourbillon Souverain à Remontoir d’égalité 15/93 was the star lot of the Reloaded sale. Sold at 7.3 million CHF ($8.4 million USD), the timepiece more than tripled its pre-sale estimate of $2.4 million USD. Not only that, the timepiece also set a new record of being the most expensive watch by an independent watchmaker ever sold at an auction.

Also from the same sale, Rolex’s first-ever Rainbow Daytona more than surpassed its initial estimation and was sold at an impressive 5.5 million CHF (approx. $6.2 million USD). The Derek Pratt’s unique Oval Pocket watch was also another notable highlight as it also fetched way above its original estimation and was sold at 3.7 million CHF (approx. $4.2 million USD).

Over at the Geneva Watch Auction: XX, the top lot goes to the Rolex Daytona with a “Paul Newman Lemon” dial. After a fierce bidding war, the reference was eventually sold at 2.5 million USD (approx. $2.8 million USD). Meanwhile, the unique and historical Akrivia reference closed at 1 million CHF (around $1.2 million USD), thus setting the auction world record for an Akrivia reference.

Check out the detailed results for both auctions on Phillips’ website.