Phillips x Bacs & Russo The Geneva Watch Auction XVIII: Results

Phillips in Association with Bacs & Russo achieves CHF 39,055,706 / $ 43,074,538
/ € 40,528,106 in The Geneva Watch Auction: XVIII, doubling the pre-sale low estimate of CHF 19 million.

The auction was held on Friday 3 and Saturday 4 November. Over 650 collectors attended in person and over 1,500 bidders competed online on Phillips sold three watches above the CHF 2 million mark, along with two others surpassing the CHF 1 million mark.

The star lot of the sale was the Patek Philippe Nautilus model ref. 3700/1 in platinum, the only known example in this configuration. This timepiece had never seen an auction room before, enhancing its already exceptional rarity, further underscored by the distinctive Gübelin signature adorning the dial. The watch was sold for CHF 2,540,500.

Two exceptionally rare examples of the Patek Philippe reference 2499 commanded impressive prices. The first series in yellow gold, dating back to 1951, soared to CHF 2,104,900, whilst the same model from 1967, the third series with a Beyer-signed dial, also in yellow gold, achieved a noteworthy CHF 876,300.

Another highlight was the Rolex 6062 in stainless steel triple calendar wristwatch with moon-phases and two-tone dial. Nicknamed “The New Standard”, the wristwatch bears a dial that has not been spotted or tarnished, despite the timepiece being 60 years old. The watch, an exceptional specimen preserved in unpolished condition, fetched an impressive CHF 2,117,000.

A dedicated section of the auction catalogue, aptly named The Independents’ Atelier, showcased the most exquisite horological creations crafted by renowned watchmakers including de Bethune, George Daniels, Urban Jürgensen, Philippe Dufour, Roger Smith, Urwerk, and F.P. Journe, among many others.

Highlighting the section was a George Daniels’ Anniversary 01, an important co-axial watch in platinum which sold for CHF 1,143,000. F.P. Journe’s ultra-rare minute repeating grande and petite sonnerie stainless steel wristwatch, with power reserve indication, achieved an incredible CHF 1,079,500.

The MB&F x Alain Silberstein, a unique and unusual brown coloured silicium PVD coated titanium jump hour wristwatch, sold for CHF 304,800, over 12 times its pre-sale low estimate. Finally, a stunning pink gold Double Impulse Chronometer Escapement wristwatch by Charles Frodsham achieved a respectable CHF 317,500, a world record for a wristwatch by the brand.

The highly anticipated Panerai timepiece, a one-of-a-kind Radiomir Guido Panerai & Figlio model resulting from a collaboration between Panerai and Phillips, eventually sold for CHF 355,600, more than doubling its high estimate.

This exceptional timepiece stands as a sublime embodiment of the brand’s rich heritage, embellished with a vintage Angelus movement. Phillips has pledged to contribute its entire buyer’s premium to the Intergovernmental Oceanographic Commission of UNESCO.

Richard Mille’s RM27-01 Rafael Nadal model, a tourbillon wristwatch with suspended movement, number 14 of a 50- piece limited edition nearly surpassed the CHF 1 million mark, achieving CHF 952,500.

An underestimated piece, a yellow gold chronograph by Breguet with lapis lazuli dial, surprised the audience as it ultimately sold for CHF 146,050, exceeding its low estimate by a staggering fourteen fold.

Top Ten Lots of the Geneva Watch Auction: XVIII

Lot 120: PATEK PHILIPPE, Ref. 3700/1P Nautilus: An exceedingly important and extremely well-preserved platinum wristwatch with date and bracelet, retailed by Gübelin.

Estimate: CHF 1,000,000 – 2,000,000
Sold for: CHF 2,540,500/ $ 2,801,917/ € 2,636,276 (world record for the reference)

Lot 12: ROLEX, Ref. 6062 “The New Standard”: An incredibly rare and exceptionally well-preserved stainless steel triple calendar wristwatch with moonphases and two-tone dial.

Estimate: CHF 1,000,000 – 2,000,000
Sold for: CHF 2,117,000/ $ 2,334,839/ € 2,196,810 (world record for the reference in stainless steel)

Lot 186: PATEK PHILIPPE, Ref. 2499 first series: A very important, rare and collectible yellow gold First Series perpetual calendar chronograph wristwatch with moonphases and Vichet case.

Estimate: CHF 800,000 – 1,600,000
Sold for: CHF 2,104,900/ $ 2,321,494/ € 2,184,254

Lot 23: GEORGE DANIELS Anniversary “no.01”: A historically important platinum co-axial wristwatch with date and power reserve indication, with presentation box one of only four pieces made.

Estimate: CHF 700,000 – 1,400,000
Sold for: CHF 1,143,000/ $ 1,260,614/ € 1,186,091

Lot 106: F.P. JOURNE Sonnerie Souverain Black Label: A spectacular and ultra-rare minute repeating grande and petite sonnerie stainless steel wristwatch with power reserve indication, black dial, bracelet, certificate and presentation box.

Estimate: CHF 500,000 – 1,000,000
Sold for: CHF 1,079,500/ $ 1,190,580/ € 1,120,197

Lot 102: RICHARD MILLE RM27-01 Rafael Nadal: A carbon nanotube tourbillon wristwatch with suspended movement, number 14 of a 50-piece limited edition and copy of guarantee.

Estimate: CHF 400,000 – 800,000
Sold for: CHF 952,500/ $ 1,050,512/ € 988,409

Lot 11: PATEK PHILIPPE, Ref. 2499 third series: A supremely rare, well-preserved, and highly important yellow gold perpetual calendar chronograph wristwatch with moonphases, retailed by Beyer.

Estimate: CHF 400,000 – 800,000
Sold for: CHF 876,300/ $ 966,461/ € 909,336

Lot 8: PATEK PHILIPPE, Ref. 5016P: A platinum perpetual calendar minute repeating wristwatch with retrograde date, tourbillon regulator, moonphases, black dial, additional caseback, certificate of origin and presentation box.

Estimate: CHF 300,000 – 600,000
Sold for: CHF 787,400/ $ 868,313/ € 816,981

Lot 17: ROLEX, Réf. 6264: An extremely rare, highly sought-after, and very well preserved 14K yellow gold chronograph wristwatch with “Cherry Logo”

Estimate: CHF 180,000 – 360,000
Sold for: CHF 685,800/ $ 756,368/ € 711,654 (world record for the reference with cherry logo dial)

Lot 108: PHILIPPE DUFOUR Simplicity prototype: The only known and historically important pink gold prototype display wristwatch, numbered 000

Estimate: CHF 400,000 – 800,000
Sold for: CHF 660,400/ $ 728,355/ € 685,297

The Geneva Watch Auction XVIII Summary

Lots sold: 183
Lots offered: 184
Sold by lot: 99%
Sold by value: 99%
Total: CHF 39,055,706 / $ 43,074,538 / € 40,528,106