Story Highlight
– Phillips achieved record $235 million in watch auctions.
– Geneva hosted most successful watch auction in history.
– New York had highest-ever auction total in Americas.
– F.P.Journe watch sold for record $13.9 million.
– 30% of bidders were new, 35% under age 40.
Full Story
In a remarkable achievement for Phillips in partnership with Bacs & Russo, the auction house has recorded its best-ever season in watch sales, amassing over $235 million during the first half of 2026 through events held in Geneva, Hong Kong, and New York.
This figure marks an unprecedented milestone in the auction industry, surpassing the annual totals achieved by any rival auction house, let alone within just six months. The success is attributed to exceptional performances across all three cities, with Geneva notably setting a record as the most lucrative location for watch auctions to date.
New York’s sale marked a pinnacle for the Americas, while Hong Kong achieved a significant milestone by selling the highest-priced timepiece ever recorded in Asia. Out of 937 watches offered at auction, an impressive 99.8% were sold, reflecting a highly efficient sell-through rate with only two lots left unsold.
The standout item of the season was the F.P. Journe Souscription Résonance No. 007, which fetched an astounding $13.9 million in New York. This sale established a world record not only for an independent watchmaker but also for any 21st-century watch sold at auction, as well as for the highest amount ever paid for a watch in the Americas since the sale of Paul Newman’s Rolex Daytona in 2017. This trend underscores a growing enthusiasm among collectors for distinctive pieces from independent brands, moving away from traditional Swiss luxury names.
Furthermore, Patek Philippe secured three noteworthy sales across different continents. In Geneva, a Ref. 2523 “South America” world timer sold for $10.2 million; in Hong Kong, a pink gold Ref. 2499 First Series made history as the first watch to exceed $10 million in Asia, achieving a final sale of $10.3 million; and a Ref. 1518 garnered nearly $4 million in New York.
Provenance played a crucial role in influencing prices, with a Patek Philippe created for musician Eric Clapton setting a new benchmark for its model at $5.2 million. Additionally, a watch presented to French President Charles de Gaulle fetched $1.87 million during the Geneva auction.
The diverse bidder pool comprised participants from over 70 nations, with 30% being first-time bidders at Phillips and 35% under the age of 40, signalling a vibrant and evolving market for luxury timepieces.
