Phillips Geneva Watch Auction Sets Record with $96.3 Million Total

The Geneva Watch Auction: XXIII, organized by Phillips at Hotel President on May 9 and 10, set a new record as the most lucrative watch auction ever, generating 74.8 million Swiss francs ($96.3 million). This figure eclipsed the former record of $83 million established by Phillips in November 2023. The event saw the establishment of over 40 new world records, with 14 items fetching more than $1 million. The highlight was a Patek Philippe Ref. 2523 'South America' world timer, which sold for an unprecedented $10.2 million following intense bidding. Other significant sales included a Patek Philippe Sky Moon Tourbillon (Ref. 6002G-010) at nearly $4.2 million and an F.P. Journe Chronomètre à Résonance 'Souscription No. 18' at around $6.3 million. F.P. Journe had six of its nine lots set world records, showcasing its rising appeal. Independent watchmakers also excelled, with an Akrivia AK-06 selling for $3.9 million, and a joint creation by Greubel Forsey, Philippe Dufour, and Michel Boulanger reaching $2.1 million. Pocket watches and clocks attracted attention too, highlighted by a Louis Richard pocket chronometer that sold for $5.1 million (a record for any pocket chronometer) and a Cartier mystery clock for $1.6 million. Aurel Bacs and Livia Russo from Phillips remarked that watches now rank alongside fine art, jewelry, and rare automobiles in the realm of high-end collecting.