Phillips shatters auction records with a $235 million spring season
Phillips, in partnership with Bacs & Russo, achieved a historic spring season by generating over $235 million in watch auction sales across Geneva, Hong Kong, and New York during the first half of 2026. The remarkable performance set new records for total sales in a six‑month period, with Geneva becoming the most successful auction venue ever, New York posting its highest‑ever American total, and Hong Kong delivering the highest‑value timepiece ever sold in Asia. Across 937 lots, the sell‑through rate reached 99.8%, and bidders from more than 70 countries participated, including a significant share of new and younger collectors. Signature pieces drove the results, notably an F.P. Journe Souscription Résonance No. 007 that fetched $13.9 million in New York, establishing a world record for an independent maker’s watch. Patek Philippe also delivered three landmark sales: a Ref. 2523 “South America” world time at $10.2 million in Geneva, a Ref. 2499 First Series in pink gold at $10.3 million in Hong Kong, and a Ref. 1518 nearing $4 million in New York, with provenance adding premium value to several pieces.
Buying Time Analysis: The story highlights Phillips’ unprecedented $235 million auction season, setting new global records and demonstrating a surge in collector interest that reshapes the luxury watch market.
