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November watch auction sales hit $22m for Phillips

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Phillips, in association with Bacs and Russo, has announced it achieved sales totalling $22m in watch sales at auction this month.

The auction took place in Geneva on November 9 and 10, with world records set for a Rolex, ref. 6062, in pink gold and the Philippe Dufour Simplicity in white gold and the Zenith El Primro in platinum.

Four watches exceeded the CHF 1 million mark, where the average sale price was close to CHS 100,000.

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Only 4% of the lots failed to find a buyer.

Over 600 watch enthusiasts, from 72 countries, were in the salesroom, setting a record for attendance at the event.

Online bidding saw the sale of the Patek Philippe, ref. 2499, in pink gold for CHF 1,580,000, making it the highest price ever achieved at Phillips.

Senior consultant at Bacs and Russo, Aurel Bacs and head of Watches Continental Europe and Middle East, Alex Ghotbi, said in a joint statement: “The weekend at Phillips with the Double Signed themed auction and The Geneva Watch Auction: X showed impressively how fine and rare quality watches garner huge interest around the world and achieve very healthy results.

“Quite remarkably, we have seen the highest participation online ever, not only in watches but in the history of Phillips with over 1000 online bidders, with hundreds of room bidders, telephone bidders and advance bidders – it was a record participation of over 2000 bidders in total.”

The next watch auctions will take place in Hong Kong on November 25 and 26, 2019.

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Tags : auctionPhillips Auction HouseRolex
Matthew Trask

The author Matthew Trask