Phillips signs record € 64 million watch auction sale

Auction house Phillips signed a record-breaking watch sale in Geneva, with the total of 248 lots auctioned reaching over 68.2 million Swiss francs (64.4 million euros), testifying to a high demand for collector's items.

All the lots found takers under the hammer, the 12 flagship pieces all exceeding one million francs during auctions held over two days in Geneva, on November 5 and 7, with the watch company Bacs & Russo, a-t -it indicated in a press release.

New for watchmaker Philippe Dufour

A large and small strike gold watch by independent watchmaker Philippe Dufour sold for 4.75 million Swiss francs, setting a new auction record not only for a model by this watchmaker highly regarded by connoisseurs but also for all models of independent watchmakers combined, said the auction house.

Philippe Dufour is one of the great contemporary master watchmakers.

After starting out notably at Jaeger-LeCoultre and Audemars Piguet, this master watchmaker set up on his own in 1978 by buying a workshop where he specialized in the restoration of old watches, thus deepening his knowledge of fine mechanics. watchmaker, before causing a sensation at the Basel fair in 1992 with its own brand.

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Among the most expensive lots, a chronometer by FP Journe, named after its founder François-Paul Journe, another emblematic figure of independent watchmaking, found a buyer at 3.9 million Swiss francs.

Alongside these watches from independent watchmakers, a model from the Omega brand, one of the most trusted names in watch auctions, was sold for 3.1 million Swiss francs, while two models from Patek Philippe, the star of the auction houses, sold at 3.5 and 2.8 million francs.

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With this auction session, which "far exceeded" its initial estimates, Phillips reached the highest "total" revenue ever made in a watch auction, said the house.

Initial estimates put the 248 lots offered at auction between 21.4 and 41.2 million francs.