Business · Companies · 21 hrs ago
Geneva watch auction brings in $112.3 million, a live-auction record
A Phillips watch auction in Geneva raised $112.3 million over two days, setting a record for a single live watch auction.
All 217 watches and clocks on offer found buyers, and the auction house said 24 world records were set.
The most expensive lot was a rare F.P. Journe watch that sold for 8.68 million francs, including fees.
F.P. Journe watches brought in 31.8 million francs, more than a third of the total, despite making up just 6% of the lots.
The results point to strong demand for independent watchmakers, whose rare pieces are now reaching prices once associated mainly with large brands such as Patek Philippe and Rolex.
Those established brands also drew high bids, including 6.27 million francs for a rare Patek Philippe watch from 1945.
A Cartier table clock set a record for a Cartier timepiece at auction, selling for 4.82 million francs.
Phillips’ Geneva watch auction brought in 92 million Swiss francs, or $112.3 million, setting a record for a single live watch auction.
The auction was held on November 7 and 8 at the President Wilson Hotel, in collaboration with Bacs & Russo and led by auctioneer Aurel Bacs.
All 217 lots offered found buyers, and the auction house said 24 world records were set.
A unique F.P. Journe Chronomètre à Résonance “Régence” was the top lot, selling for 8.68 million Swiss francs including buyer’s premium.
F.P. Journe watches brought in 31.8 million Swiss francs in total, while a Cartier mystery clock set an auction record for a Cartier timepiece.
- Who
- Phillips, working with Bacs & Russo and led by auctioneer Aurel Bacs, held the auction.
- What
- The auction raised $112.3 million, a record for a single live watch auction.
- When
- November 7 and 8. The source does not state the year.
- Where
- The President Wilson Hotel in Geneva.
- Why
- Not stated
This story does not have two clearly opposing sides.
Phillips reported a sales record, according to the article.
Phillips held the Geneva watch auction, which raised 92 million Swiss francs.
- Total proceeds
- 92 million Swiss francs ($112.3 million)
- Lots sold
- 217 of 217
- World records
- 24, according to Phillips
- Top lot
- F.P. Journe “Régence,” 8.68 million Swiss francs including buyer’s premium
- F.P. Journe sales
- 31.8 million Swiss francs across 13 watches
- Cartier record
- Portico Mystery Clock No. 4 sold for 4.82 million Swiss francs