Phillips in association with Bacs & Russo achieves CHF 47 million in watch auction
Phillips in association with Bacs & Russo achieved CHF 47,172,380 in The Geneva Watch Auction: XVII, more than doubling the pre-sale low estimate of CHF 20 million and continuing an over two-year streak of selling 100% of lots offered
Held over two days on May 13 and 14, watch aficionados participated from across 69 countries, contributing to the electric atmosphere in the saleroom at La Réserve Hotel, which welcomed 600 collectors, alongside 1,675 bidders competing online on Phillips.com. 100% of the 203 watches offered were sold, with Phillips selling two watches for above the $3 million mark, the only auction house to achieve such a feat this week.
The weekend in Geneva marked an important moment for Phillips’ market leadership. The strength of the results was evident with an average lot price surpassing CHF 232,000. Moreover, the sale total was the highest achieved this season in Geneva, making it not only Phillips’ third highest sale total ever but also the third highest ever achieved in the field of horology.
The auction was filled with thrilling moments, with the star lot, a Rolex Ref. 6270, affectionately called “The End Game,” fetching an astonishing CHF 3,690,000, shattering the previous world record for any Rolex Ref. 6270 ever sold.
Leading the section of independents was the Biver Carillon Tourbillon, a unique titanium carillon repeating tourbillon prototype belonging to Jean-Claude Biver. The timepiece captured the public’s attention and sold for an astounding CHF 1,270,000.
