Last weekend, Phillips’ watch auction collected $75.8 million, becoming the highest-selling watch auction in U.S history.
The New York Watch Auction: XIV was held at Phillips New York in association with Bacs & Russo. The 16 watches on the auction block each sold in excess of $1 million, ultimately fetching a whopping $75.8 million. Not only did it set a record for the U.S. market, but it also broke Phillips’ own record, set last December at $43.5 million.
The top-seller of the evening was a F.P. Journe Chronomètre à Résonance “Souscription, No. 007,” which sold for $13.92 million. The sale set multiple records: it is now the most expensive watch sold by François-Paul Journe, the most expensive watch sold by an indie watchmaker, and the most expensive 21st-century watch. F. P. Journe really had a wonderful night, as half of the top 10 sales of the auction belonged to him, with the other watches being sold between $1.9 million and $5 million.
Other watchmakers also had their moments in the sunshine. A Patek Phillipe, made specifically for Eric Clapton, soared past its $700k estimate and sold fr $5.2 million. Another Patek Phillipe sold for around $4 million. A 1969 Daytona (Ref. 6241) “John Player Special” by Rolex sold for $1.8 million.
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In a joint statement, Paul Boutros and Isabella Proia of Phillips said: “This season’s results in New York mark a watershed moment for the watch market. To once again break the record for the most valuable watch auction ever held in the United States—just six months after establishing the previous benchmark—speaks to the remarkable confidence and depth at the very pinnacle of collecting.”
