It was an event filled with record-breaking moments.
If there was any lingering question about the status of the luxury watch market, Phillips’ New York Watch Auction: XIII put it to rest. Closing out the auction house’s 10th anniversary year in association with Bacs & Russo, the sale totaled a jaw-dropping $43.5 million, making it the highest-grossing watch auction ever held in the United States. Adding to the excitement, the auction achieved a 100% sell-through rate by lot and value, extending Phillips’ streak of “white glove” New York watch auctions to five consecutive years. For collectors watching closely, it represents the continuation of a steady, confidence-driven climb at the very top of the market.
The clear headline was F.P. Journe’s unique FFC watch from the collection of Francis Ford Coppola, a 1-of-1 prototype developed in collaboration with the legendary filmmaker. Designed to tell time using a single human hand, the watch sits comfortably in the history of true horology. After more than eleven minutes of competitive bidding from around the world, it hammered at $10.8 million, setting a new world auction record for both F.P. Journe and any independent watchmaker. The result also marked the most expensive watch sold at auction in the U.S. since Paul Newman’s Rolex Daytona crossed the block in 2017, quietly reinforcing the idea that modern legends now sit alongside vintage icons.
Top 10 Auction Sales
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F.P. Journe – Francis Ford Coppola FFC Prototype (2021)
Sold for: $10,775,000 -
F.P. Journe – Chronomètre à Résonance “Sincere Fine Watches” (2006)
Sold for: $3,690,000 -
Philippe Dufour – Duality “No. 1” (circa 1999)
Sold for: $3,085,000 -
F.P. Journe – Chronomètre à Résonance “Souscription No. 17” (2000)
Sold for: $2,843,000 -
F.P. Journe – Octa Chronographe “Souscription No. 19” (2003)
Sold for: $1,572,500 -
Philippe Dufour – Simplicity “No. 1” (circa 2002)
Sold for: $1,168,400 -
F.P. Journe – Tourbillon Souverain, Steel Set (2015)
Sold for: $1,130,300 -
F.P. Journe – Chronomètre à Résonance, Steel Set (2015)
Sold for: $927,100 -
F.P. Journe – Octa Réserve de Marche “Souscription No. 17” (2003)
Sold for: $774,700 -
F.P. Journe – Chronomètre à Résonance, Pink Gold (circa 2002)
Sold for: $685,800
Beyond that singular moment, the auction stressed just how deeply collectors are embracing independent watchmakers. F.P. Journe and Philippe Dufour accounted for nine of the top ten lots, with Journe’s Chronomètre à Résonance “Sincere Fine Watches” example reaching $3.7 million, more than ten times its low estimate. Limited-production souscription pieces followed, proving that rarity, history, and mechanical integrity continue to trump hype. The same held true for Philippe Dufour’s Duality and Simplicity, both numbered 01, which together brought spirited bidding and strong results. Taken as a whole, The New York Watch Auction: XIII offered a clear look at where serious collectors are placing their attention, and why independent watchmaking continues to define the top end of the market.
Source: Phillips' New York
