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Phillips' $96 Million Watch Auction Sets a New Record in Geneva

Phillips' $96 Million Watch Auction Sets a New Record in Geneva

Spring sale closes with record-breaking total of $96.3 million.

The luxury watch market just crossed another monumental milestone, and once again, Phillips is at the center of it. During its Geneva Spring Season auctions, Phillips in Association with Bacs & Russo achieved the highest-grossing watch auction total ever recorded, bringing in more than $96 million across nearly every lot offered. Out of 225 watches presented at The Geneva Watch Auction: XXIII, 224 sold, an almost unheard-of success rate. More importantly, the results support the fact that the watch industry’s demand for rare vintage watches, independent watchmakers, and historically important timepieces continues to climb.

As expected, some of the biggest names in Swiss watchmaking dominated headlines. Patek Philippe once again proved its prestige, led by an ultra-rare Ref. 2523 “South America” world timer that sold for over $10 million after an intense bidding battle. F.P. Journe continued its rapid rise among collectors with multiple world records set for rare Chronomètre à Résonance models. But the most interesting part of the auction was the growing attention paid to independent brands and pocket watches. Collectors kept their eyes on watches from names like Akrivia, Louis Richard, and Louis Audemars & Co., showing that today’s buyers are looking beyond mainstream luxury names for rarity and historical significance.

Sold Above $1 Million

  1. Patek Philippe Ref. 2523 "South America" - $10,245,807
  2. F.P. Journe Chronomètre à Résonance "Souscrietion No. 18" - $6,274,125
  3. Louis Richard "Triple Detent Constant Force One Minute Tourbillon Chronometer" - $5,106,816
  4. Patek Philippe Ref. 6002G-010 Sky Moon Tourbillon - $4,172,454
  5. Akrivia AK-06 - $3,861,000
  6. Louis Audemars & Co, No. 12112 "La Royale" - $3,238,092
  7. F.P. Leurne Chrenometre a Resonance "Pisa" - $3,000,502
  8. F.P. Journe, Octa Chronograrhe 38mm Brass Movement - $2,206,562
  9. Greubel Forsey X Philippe Dufour X Michel Boulanger Naissance d'Une Montre 1 N° 1/11 - $2,124,837
  10. F.P. Lourne Tourbillon Souverain à Remontoir d'Egalité - $1,961,388
  11. Agassiz Watch Co. "Victory Watch - Charles de Gaulle" Pocket Watch - $1,879,664
  12. Paul Ditisheim "Minute Detent Escapement Tourbillon" - $1,634,490
  13. Cartier, Mystery Clock - $1,569,110
  14. Audemars Piguet Ref. 5503 Triple Calendar Chronograph with Moonphase Display - $1,405,661

The results also say a lot about where the modern collector market is headed. Watch auctions are no longer driven solely by traditional vintage Rolex and Patek buyers. Today’s bidders are younger and often very educated on independent horology, complicated movements, and niche watchmaking history. Phillips reported participation from bidders across 74 countries, with heavy activity online, over the phone, and inside the Geneva auction room itself. That helped push 14 watches beyond the million-dollar mark while setting 43 world records. The record-breaking auction also confirmed that rare watches now occupy the same territory as blue-chip art, collector cars, and fine jewelry, with no sign of slowing down anytime soon.

Source: Phillips in Association with Bacs & Russo

Jordan Aquistapace