Inside the Highest-Grossing Watch Auction in History
The Phillips Decade One auction, held in Geneva, marked a significant milestone in the world of luxury watch auctions, achieving a record-breaking total of $83 million. The event highlighted the evolution of the auction landscape over the past decade, showcasing exceptional timepieces including vintage and modern watches from renowned brands like Patek Philippe and Rolex. Key lots included the Patek Philippe 1943 Ref. 1518, which sold for over $17.6 million, setting a new record for the most expensive vintage watch ever sold at auction. The auction also emphasized the rising prominence of independent watchmakers, with notable sales from F.P. Journe. The excitement surrounding the event was palpable, as bidders eagerly participated, driving prices well above estimates. The auction not only celebrated the artistry and craftsmanship of horology but also underscored the growing interest and investment in luxury watches, setting a high standard for future auctions in the luxury market.
