Super collectors and high-end watchmakers put up more than $50 million at Phillips and Bacs & Russo’s week-long auction in Geneva last week. Pre-sale estimates were cautious, which seemed to stir up interest in the auction, especially for the rarest and most desirable lots.
For Phillips, this included the replica Rolex Ref. 6270 “The End Game”, which sold for CHF 3.6 million, and Patek Philippe’s rose gold second series Ref. 2499 Perpetual Calendar, which sold for CHF 3.2 million, compared to CHF 2.3 million for the same model in gold.
The centerpiece of the Geneva watch auction: Sale XVII grossed $52,488,707, more than double the total of all low estimates prior to the sale.
While the fall auction season was widely reported to be relatively flat, the two-day Phillips sale produced the third-highest total in its history.
According to Alexandre Ghotbi, Head of Watches for Europe and the Middle East, and Tiffany To, Senior International Watch Specialist and Head of Sales, the results are a testament both to the resilient demand for the right timepieces and to the strength of the excellent team working with collectors and dealers.
“We are very grateful to our consignors and bidders for the trust they have placed in us and the support they have given us throughout the auction process. The market’s unwavering resilience and insatiable appetite for high-quality, rare, and relevant modern and antique timepieces are truly remarkable. We are delighted to maintain our position as the market leader in the Geneva fake watch auction segment and attribute this success to the hard work of the Phillips Watch global team and the unwavering support of our clients, consignors, and bidders,” they said.
