Monday, May 11, 2015

Phillips Inaugural Watch Auctions Realise 29.6 Million Swiss francs ($31.8 Million)

The inaugural watch auctions held by Phillips, in Association with Bacs & Russo, on 9 and 10 May 2015 realised a combined total of SFr 29,649,363 / $31,834,734 / €28,411,944, selling 97% by lot. The auctions sold four watches for over $1 million and established multiple records including for any stainless steel wristwatch, for any Rolex sold at auction, and for any Rolex Day-Date.

The top lot was an extremely rare Patek Philippe single button doctor’s chronograph in stainless steel with a superbly aged off white silvered dial, highlighted by a pulsations scale and a sector design. At the auction on Sunday 10 May, after 21 minutes of bidding between x clients from 4 continents, it eventually sold to an anonymous bidder on the telephone for SFr 4,645,000 / $4,987,383 / €4,451,141, more than doubling its low estimate of SFr 1 million to 2 million and setting a new record price for any stainless steel wristwatch sold at auction. One of only two examples of this model, both of which were made for a retailer in South America, the other is a highlight of the Patek Philippe Museum. 

The market reacts with the greatest appetite to the rarest and most exceptional watches as seen by the magnificent single button chronograph by Patek Philippe which drew bids from collectors in four continents, eventually selling for SFr 4.6 million and setting a record for any stainless steel wristwatch sold at auction.


Glamorous Day-Date - 9 May 2015
This auction was dedicated to Rolex’s most prestigious model and offered 60 of the rarest examples, including unique models and watches with royal provenance. In a packed saleroom of over 300 people, every lot sold for a total of SFr 6,179,400 / $6,634,800 / €5,921,500 (pre-sale estimate: SFr 1.7 million to SFr 3.4 million. The highest price was paid for ‘Big Kahuna’, one of only two known 6612 references made in platinum. It smashed the world record price for any Rolex Day-Date sold at auction realising SFr 473,000 / $507,865 / €453,259, more than doubling its pre-sale estimate of SFr 100,000 to 200,000. Multiple records were established for individual references and models.

Top Ten Lots
Lot 43: Big Kahuna Rolex Oyster Perpetual Day Date - An extremely rare and historically important platinum and diamond set calendar wristwatch with centre seconds, grey dial and big logo bracelet, circa 1958(sold for CHF 473,000/$ 507,865)
Lot 21: The Brooklyn Bridge Rolex Oyster Perpetual Day Date - A very rare and highly unusual platinum and diamond set calendar wristwatch with bracelet, centre seconds, and rare linear geometric engraved dial, circa 1961 (sold for CHF 305,000/$ 327,482)
Lot 51: Emperor Rolex Oyster Perpetual Day Date - An extremely rare, important and very heavy platinum and diamond set calendar bracelet wristwatch with centre seconds, and burgundy lacquered Stella dial, made in a limited series of8 pieces only, circa 1977 (sold for CHF 305,000/$ 327,482)
Lot 58: Taxi Driver Rolex Oyster Perpetual Day Date - A very rare and attractive yellow gold and diamonds calendar wristwatch with centre seconds, yellow lacquered Stella dial, guarantee and box, circa 1973 (sold for CHF 275,000/$ 263,523)
Lot 12: The Flaming bird Rolex Oyster Perpetual Day Date - A very rare and important pink gold and diamond set calendar wristwatch with bracelet, centre seconds, burgundy lacquered Stella dial, made for the Sultanate of Oman, Circa 1975  (sold for CHF 191,000/$ 205,079)
Lot 40: Great Gatsby Rolex Oyster Perpetual Day Date - An exceptionally rare and historically important yellow gold calendar wristwatch with centre seconds, red date, unusual bracelet, original guarantee and box, Circa 1955
(Sold for CHF 191,000/$ 205,079)
Lot 24: Sheherazade Rolex Oyster Perpetual Day Date - A very rare and important platinum and diamond set wristwatch with Arabic calendar, applied white gold Arabic numerals, centre seconds and bracelet, circa 1960
(Sold for CHF 185,000/$ 198,636)

Lot 13: Octopus Sapphire Rolex Oyster Perpetual Day Date - An extremely rare and important white gold and sapphire set calendar wristwatch with centre seconds and stone set bracelet, circa 1977(Sold for CHF 173,000/$ 185,752)

Lot 25: Aladdin Rose Rolex Oyster Perpetual Day Date - An extremely rare and important pink gold wristwatch with Arabic calendar, applied pink gold Arabic numerals, bracelet, centre seconds and unusual tapisserie dial, circa 1974(sold for CHF 167,000/$ 179,310)

Lot 15: Octopus Diamonds Rolex Oyster Perpetual Day Date - A very rare, unusual and important white gold and diamond set calendar wristwatch with centre seconds, bracelet and burgundy lacquered Stella dial, circa 1976
(Sold for CHF 155,000/$ 166,425)
The Geneva Watch Auction ONE - 10 May 2015
This auction was dedicated to watches of the highest quality, including exceptionally rare examples and timepieces with fascinating provenance. The auction realised a total of SFr 23,469,963 / $25,199,934  / €22,490,444 (pre-sale estimate: SFr 10.1 million to 17.3 million), selling 96% by lot. The highest price was paid for the exceptionally rare 1927 Patek Philippe single button chronograph which realised SFr 4,645,000 / $4,987,383 / €4,451,141, more than doubling its low estimate of SFr 1 million to 2 million and setting a new record price for a stainless steel wristwatch sold at auction.

Further highlights included a highly important and very rare Patek Philippe pink gold perpetual calendar chronograph with pink dial, moon phases and heavy Gay Frères bracelet from 1948 which sold for SFr 1,445,000 / $1,551,511 / €1,384,693 (estimate: SFr 800,000 to 1,400,000); the most renowned of four existing examples of the Rolex Cosmograph Daytona ‘Albino’ which was formerly a highlight in the personal collection of Eric Clapton, and which sold for SFr 1,325,000 / $1,422,666 / €1,269,701 (estimate: Sfr. 500,000 – 1,000,000) – a record for any Rolex sold at auction; and an exceptionally rare Rolex reference 6062 models featuring a triple calendar with phases of the moon which realized SFr 1,001,000 / $1,074,784 / €959,223 (estimate: SFr 250,000 to 450,000).

Top Ten Lots

Lot 123: Patek Philippe, Ref 130, Stainless steel, circa 1927 (Sold for CHF 4,645,000/$ 4,987,383)

 Lot 165: Patek Philippe, Ref 1518, Pink Gold, circa 1948 (Sold for CHF 1,445,000/$ 1,551,511)

Lot 214: Rolex, Oyster Cosmograph 'albino', Ref 6263, stamped 6262 inside caseback, Stainless steel, circa 1971 (Sold for CHF 1,325,000/$ 1,422,666)

Lot 118: Rolex, Ref 6062, 6063 also stamped inside the caseback and then struck through by Rolex, Pink gold, circa 1953, (Sold for CHF 1,001,000/$ 1,074,784)

Lot 121: Patek Philippe, Ref 2585 Stainless steel, circa 1958 (Sold for CHF 785,000/$ 842,862)

Lot 101: Patek Philippe, Ref 1506, 18kt pink gold, circa 1942 (Sold for CHF 725,000/$ 778,440)

Lot 122: Patek Philippe, Ref 2499/100, 18k yellow gold, circa 1984 (Sold for CHF 533,000/$ 572,287)

Lot 79: Rolex, Oyster Perpetual Chronometer, Ref 6062, 18kt yellow gold, circa 1951 (Sold for CHF 509,000/$ 546,518)

Lot 149: Rolex Daytona, Ref 6269, 18kt yellow gold and diamonds, circa 1987 (Sold for CHF 497,000/$ 533,634)
Lot 224: Patek Philippe, Ref 3448, 18kt white gold, circa 1981 (Sold for CHF 437,000/$ 469,211)

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