Phillips Sets The Pace For Spring 2025 Watch Auctions Worldwide
Phillips Sets Auction Records
PRESS RELEASE | 789 WORDS | 8 MINUTE READ
With the Largest Sale Totals, the Most Million-Dollar Timepieces, and the Highest Sell-Through Rates, Phillips Continues to Define the Gold Standard in Watch Auctions.
Aurel Bacs auctioneering lot 18 for CHF 5.5 million during The Geneva Watch Auction: XXI. Image Credit: Sebastien Maflin
Image courtesy - Phillips
Six Sales Across Three Continents
More Than 800 Watches Sold
Over USD $113 Million Achieved
The Fourth Highest Season Total in Phillips Watches History
GENEVA – 25 JUNE 2025 – Another auction season is in the books at Phillips in Association with Bacs & Russo, with the house once again confirming its position as the global leader in watch auctions with standout results across its Spring 2025 sales. Driven by expertise and global trust, the team delivered the season’s top results, the most $1M+ watches, and a 99% sell-through rate. With a total of 839 lots sold (and a 99% sell-through by lot), Phillips achieved a combined total of $113.8 million, outperforming its nearest competitor by more than $40 million.
Phillips sold more timepieces above $1 million than any other auction house this season, with 11 lots passing the seven-figure threshold. Across six live and online auctions, the average lot value was $135,500 with buyer’s premium. For the three live auctions alone, the average lot value rose to $178,000. In both cases, Phillips achieved the highest average lot value of any watch auction house this season by a wide margin.
“This season was a striking demonstration of strength – not just in the market, but in the collecting community itself,” said Aurel Bacs, Senior Consultant at Phillips in Association with Bacs & Russo. “Our clients showed remarkable appetite across categories, and once again, Phillips set the pace. We saw million-dollar bids for watches by independent makers, fierce competition for rare clocks and pocket watches, and consistently high results for vintage Patek Philippe, Rolex, and Vacheron Constantin. These results confirm what we've believed for some time: collectors are ready to go deeper, and Phillips is leading the way.”
At the three live auctions held in Geneva, Hong Kong, and New York, Phillips sold 99% of all lots and achieved 182% of the total low estimate and 95% of the high estimate by value. Bidders came from around the world to participate, with more than 80 countries represented and over 2,000 active unique clients registered.
The number of participants increased by 10% from the previous season, driven by new collectors. Notably, 35% of all buyers in global watch auctions this season were new to Phillips Watches, and 30% of buyers were millennials or Gen Z. Online participation continues to be robust; 85% of bidders participated in auctions online.
This season, Phillips continued to lead the market for independent watchmaking. Through thoughtful curation and global visibility, the specialists at Phillips have helped grow collector interest in this vital segment – setting new benchmarks for makers like F.P. Journe and expanding awareness for emerging talents. At the same time, Phillips has successfully broadened the field of interest for collectors by offering exceptional pocket watches and clocks, many of which achieved record-breaking results. By spotlighting these underappreciated categories, Phillips has expanded the tent and brought new energy to the market.
Standout results included:
The 1991 F.P. Journe x THA for Breguet Pendule Sympathique Clock No. 1 sold for CHF 5.5 million ($6.6 million) in Geneva, achieving 450% above its low estimate, a world record for a modern Sympathique clock.
The 1924 Cartier Portico Mystery Clock No. 3 went for CHF 3,932,000 ($4.7 million) in Geneva, a 97% premium over its low estimate and a world record for a Cartier timepiece.
A possibly unique, platinum Patek Philippe Perpetual Calendar Chronograph ref. 5970P-013 from circa 2011 was the top lot of the Hong Kong live auction, achieving HKD $10,130,000 ($1.3 million).
A one-of-a-kind, museum-quality circa 1925 Cartier illuminated lantern clock with confirmed Royal provenance sold for HKD $9,144,000 ($1.17 million), soaring past its low estimate by more than 850%.
Leading the New York auction was an exceptional yellow gold Patek Philippe Perpetual Calendar Chronograph ref. 1518, which was offered for the first time in nearly 40 years, and sold for $1.45 million, nearly four times its low estimate.
A fresh-to-market Patek Philippe ref. 570 in remarkable condition also captivated bidders in New York, selling for more than $1 million.
Of the total $254 million achieved by the three major auction houses this spring, Phillips accounted for 45% of the global market share. These results reflect both the depth of collector demand and the international trust placed in the Phillips team’s expertise.
The Spring 2025 auction season continues a multi-year streak of market leadership for Phillips in Association with Bacs & Russo, building on their reputation for curating the most exceptional timepieces and consistently delivering the highest results.
For further information, visit phillips.com