43 World Records Set at Phillips’ Geneva Watch Auction XXIII
Making it the highest-grossing watch auction in history.
Summary
- Phillips achieved the highest-grossing watch auction ever, totaling nearly $96.3 million USD
- The historic sale established 43 world records and saw 14 watches exceed $1 million CHF
- A Patek Philippe world-timer led the auction, realizing at 7.9 million CHF (approx. $ 10.2 million USD)
Phillips has set a new benchmark in the watch auction world, achieving the highest‑grossing sale in history with the Geneva Watch Auction: XXIII. Held on over the weekend at the Hotel President in Geneva, the two‑day event realized a record total of 74.8 million CHF (approximately $ 96.3 million USD), surpassing all previous records. With 224 of 225 lots sold, the auction achieved a near‑perfect sell‑through rate of 99.6% by lot and 99.9% by value, underscoring the strength of the global watch market.
The sale was defined by 43 world records and intense bidding across categories. Leading the results was the extraordinarily rare Patek Philippe Ref. 2523 “South America” World Timer, which hammered at 7.9 million CHF (approx. $ 10.2 million USD), setting a world record for the reference.
Other highlights included the F.P. Journe Chronomètre à Résonance “Souscription No. 18”, which achieved $4.88 million CHF(approx. $6.27 million USD)and the Louis Richard “Triple Detent Constant Force One Minute Tourbillon Chronometer”, which realized $3.96 million USD ( approx. $ 5.1 million USD). These results confirm the appetite for both trophy Patek Philippe pieces and independent watchmakers pushing technical boundaries.
Independent brands also drew remarkable attention, with the Akrivia AK‑06 in stainless steel achieving 3 million CHF(around $ 3.86 million USD), setting a record for Rexhep Rexhepi, while Greubel Forsey’s collaborative Naissance d’une Montre No.1/11 reached 1.65 million CHF (around $ 2.12 million USD).
Senior consultants Aurel Bacs and Livia Russo emphasized that watch auctions now sit alongside fine art, jewelry and rare motorcars at the pinnacle of collecting categories. With 14 watches surpassing the 1 million CHF mark and unprecedented enthusiasm across vintage, contemporary and prototype creations, the Geneva Watch Auction: XXIII confirmed that the market is not only resilient but “hungry for relevance, craftsmanship, and quality without compromise.”
