Auction house Phillips in Association with Bacs & Russo is opening a boutique salon within its London showroom where customers can come to buy and sell their watches.
The space will be used to exhibit watches that could go into future auctions or be bought on the spot through private sales.
The concept has been named Phillips Perpetual, and will be rolled out to New York, Hong Kong and other locations in the future.
In a unique convergence of the auction world and primary retail for luxury watches, Phillips will also use its Perpetual space to present timepieces from Swiss watchmaker Singer Reimagined. The brand will have a permanent display within the gallery.
Phillips Perpetual was conceived after the success of an exhibition called Well Suited, which presented independent watchmakers alongside tailoring from British luxury menswear brand Thom Sweeney.
Edward Dolman, chief executive officer of Phillips, said: “Under the leadership of Aurel Bacs and Livia Russo, Phillips Watches has celebrated one success after another on its way to capturing a market leadership position in its four short years of existence. I am certain Phillips Perpetual will once again change the dynamics of the market with a unique selling proposition catering to the world’s most discerning collectors.”
Mr Bacs and Ms Russo, added: “Phillips Perpetual will enable us to offer unique collector experiences year round, increasing accessibility to auction quality watches, and to deliver first class service 365 days of the year. This new initiative will create cross-marketing opportunities that will help to engage with clients across all of Phillips collecting categories.”