Editor’s Note
This dispatch from Geneva captures the unique atmosphere of auction season, where vintage collectors and dealers take center stage. We explore the heightened anticipation surrounding a major anniversary sale and the distinct energy that sets this event apart from traditional watch fairs.
Geneva during the auction season transforms into a different beast. The traditional watch press, usually present for new watch fairs, is less prominent (though we were there!), making space for vintage dealers and collectors. This is their time to own the watch capital of the world, competing in knowledge and happily sharing experiences or latest acquisitions.
Expectations were especially high for this weekend. It marked Phillips Watches’ 10th anniversary, contributing to an incredible lot selection and heightened interest in the live event. Furthermore, this year celebrated the 250th anniversary of Breguet, rightfully honored by Sotheby’s with a themed auction curated with Montres Breguet SA and Mr. Emmanuel Breguet, the brand’s heritage director and a descendant of the founder.
Sotheby’s – Lot 9 – Breguet No. 1890 – Sold for CHF 1,880,000
The “Celebration of Breguet’s 250th Anniversary” auction reached a total of CHF 12,202,960. Lot 9, the Breguet No. 1890, sold for CHF 1,880,000—more than double its estimate.
This watch inspired the recently released Breguet Classique 7225, which features a 10 Hz movement with a magnetic pivot.
Sotheby’s – Lot 60 – Breguet No. 921 – Sold for CHF 48,260
Among the 70 lots in this monographic offering were not just pocket watches and classical pieces but also unexpected tool watches from the Maison. It served as a great reminder of the brand’s capabilities and the enduring deep care for its watches.
Sotheby’s – Lot 134 – Mercedes Gleitze’s Rolex Oyster – Sold for CHF 1,392,000
The iconic Important Watches auction featured the “Companion Oyster,” better known as Mercedes Gleitze’s Rolex Oyster. This piece is a pre-production prototype of Rolex’s first waterproof wristwatch, a milestone that paved the way for the brand’s tradition of water resistance.
Sotheby’s – Lot 131 – Cartier Tank Normale – Sold for CHF 88,900
Christie’s – Lot 103 – Audemars Piguet Royal Oak Perpetual Calendar ref. 25687PT – Sold for CHF 673,100
Christie’s celebrated the 150th anniversary of Audemars Piguet with a unique platinum Royal Oak Perpetual Calendar set with diamonds and rubies, designed by Emmanuel Guiet. It became one of the auction’s top ten lots, achieving CHF 673,100.
Christie’s – Lot 7 – Vacheron Constantin ref. 43050 – Sold for CHF 57,150
The remaining top positions were occupied by usual heavy hitters. A double-sealed platinum Patek Philippe ref. 3970 special edition took the top spot, realizing CHF 1,397,000. Altogether, the Rare Watches auction reached CHF 21,641,435.
This weekend was historic. Phillips’ “Decade One” auction achieved the highest total for any watch auction ever at CHF 66.8 million, with Phillips now holding the top three spots for the most expensive auctions. The highlight was undoubtedly the Patek Philippe ref. 1518 in stainless steel, which fetched over CHF 14 million, setting a new record as the most expensive Patek Philippe wristwatch ever sold at auction.
The sale of the same model at Monaco Legend Group just two days prior heightened the suspense. When the moment arrived, the room was packed fuller than ever.
Phillips – Lot 23 – Patek Philippe ref. 1518 – Sold for CHF 14,190,000
While restoration is widely accepted in most luxury and art sectors, the watch world is still catching up. This topic deserves deeper exploration another time.
Phillips – Lot 23 – F.P. Journe Chronomètre à Résonance “Souscription” – Sold for CHF 3,327,000