$203 million in just three days. That’s the total from the November auctions in Geneva, where Phillips, Christie’s, and Sotheby’s brought together some of the most coveted pieces in the international collecting world. Phillips surpassed the $100 million mark for the first time in a single watch auction, selling all 217 lots in the catalog. Meanwhile, 13 F.P. Journe watches totaled nearly $39 million, with a single Chronomètre à Résonance “Régence” fetching over $10 million on its own.
With its extremely rare Rolex watches, Patek Philippe grand complications, and masterpieces of independent watchmaking, Geneva has provided one of the most telling snapshots of the high-end market in recent years. The auction results reflect an increasingly selective approach to collecting, with bidders willing to compete up to extraordinary sums for pieces of particular historical significance, rarity, and provenance.
Sit back and relax, because with results of this magnitude, it’s worth delving into the details of the timepieces that brought the auction halls to life.
Phillips, Christie’s, and Sotheby’s: $203 million in three days
Phillips, in partnership with Bacs & Russo, stole the show with “The Geneva Watch Auction: XXIV,” held on November 7 and 8, which brought in 92,045,568 Swiss francs, equivalent to 112,277,184 dollars.
A historic achievement: for the first time, a single live auction dedicated to watches surpassed the $100 million mark. But there is another particularly significant statistic: all 217 lots offered found a buyer, resulting in a 100% sell-through rate.
The auction house also set 24 world records, with 17 lots selling for over 1 million Swiss francs and 2,121 registered bidders from 69 countries.
November Rare Watches Auction | Credits: Christie’s
On November 9, it was Christie’s turn, which totaled 47,824,592 Swiss francs, equivalent to 58,703,706 dollars, marking the best result in its history for a single watch auction. Once again, every lot was sold.
Rounding out the picture was Sotheby’s, with sales exceeding $32 million. Adding up the results of the three auction houses, the total comes to around $203 million, a figure that reflects the economic scale of one of the most important weeks in the world of collectible watches.
F.P. Journe: 13 watches sold for nearly $39 million
While the overall results are impressive, what happened with F.P. Journe deserves a chapter of its own.
During the Phillips auction, just 13 timepieces from the independent watchmaker generated 31.8 million Swiss francs, equivalent to approximately 38.8 million dollars.
This means that less than 6% of the lots offered accounted for about 34.6% of the auction’s total sales. An extraordinary concentration of value, reflecting the interest of major collectors in François-Paul Journe’s creations.
The star of the show was an extremely rare F.P. Journe Chronomètre à Résonance “Régence” in platinum, which sold for 8,680,500 Swiss francs, equivalent to approximately 10.6 million dollars.
Lot 7 – F.P. Journe Chronomètre à Resonance “Régence” | Credits: Phillips
The model stands out for its application of the principle of resonance, one of the central themes of Journe’s watchmaking research, and for its particularly refined aesthetic design. The movement belongs to the maison’s first generation of calibers, characterized by the use of brass for the plates and bridges.
Further confirming the brand’s success were the Chronomètre à Résonance Tokyo Boutique, which sold for 6,146,000 francs, and the diamond-set Vagabondage III, which sold for 5,057,000 francs.
Lots 18, 19, 20 – F.P. Journe Trilogy: Vagabondage I, II, and III | Credits: Christie’s
Christie’s also reported significant results for F.P. Journe, including a trilogy of Vagabondage I, II, and III in rose gold, purchased by a single collector for a total of 6.71 million Swiss francs.
Patek Philippe and Rolex: The Models That Have Captivated Geneva
Among the major players at the Geneva auctions, Patek Philippe and Rolex were, of course, prominent, two brands that continue to occupy a central position in the market for the most sought-after vintage watches.
At Phillips, one of the most significant results was a stainless steel Patek Philippe Ref. 1436, which sold for 6,267,000 Swiss francs, approximately 7.64 million dollars.
Lot 95 – Patek Philippe Ref. 1436 | Credits: Phillips
Introduced in the 1940s, Ref. 1436 is one of the great historical examples of Patek Philippe’s split-seconds chronograph. Its complication allows for the measurement of split times via a second chronograph hand, while the extremely rare stainless steel configuration makes this piece particularly significant to collectors.
On the Rolex front, attention focused on a Ref. 6062 “Stelline,” which sold for 2,334,500 Swiss francs, approximately $2.85 million.
Lot 129 – Rolex Ref. 6062 “Stelline” | Credits: Phillips
Produced in the 1950s, Ref. 6062 is one of the most fascinating timepieces in the history of the brand with the crown logo, thanks to its combination of a full calendar, moon phase display, and Oyster case. The nickname “Stelline” comes from the distinctive star-shaped hour markers, a feature that makes this model particularly recognizable.
Another noteworthy result was that of the Rolex Ref. 3830 “Verga, ” a chronograph with a square case from the Pucci Papaleo collection, which sold for 1,270,000 Swiss francs. This piece set a world record for a non-Oyster Rolex chronograph.
Cartier, Philippe Dufour, and the independents: other auction records
Demonstrating just how far collecting can extend beyond wristwatches was the result for the Cartier Portico Mystery Clock No. 4, sold by Phillips for 4,815,000 Swiss francs, equivalent to approximately 5.87 million dollars.
Lot 220 – Cartier Portico No. 4 | Credits: Phillips
This piece set a world record for a Cartier timepiece sold at auction, confirming the significance of the brand’s historic creations, in which watchmaking meets the decorative arts and jewelry.
Lot 106 – Philippe Dufour Simplicity | Credits: Phillips
Philippe Dufour also caught the attention of collectors with a platinum Simplicity that sold for 1,968,500 Swiss francs.
Lot 216 – Voutilainen Vingt-8 Inversé “Unique” | Credits: Phillips
Other highlights included a tantalum Voutilainen Vingt-8 Inversé, which sold for 1,524,000 francs, and a Sylvain Pinaud Origine No. 2, which fetched 609,600 Swiss francs.
Lot 56 – Sylvain Pinaud Origine “No. 2” | Credits: Phillips
These results confirm that interest in independent watchmaking is not limited to established names, but also extends to contemporary watchmakers who stand out for their technical innovation, craftsmanship, and design identity.
Sotheby’s: Patek Philippe Sky Moon Tourbillon and George Daniels Among the Highlights
Sotheby’s also contributed to the extraordinary week in Geneva with a selection of watches of great historical and technical significance.
Among the highlights was a Patek Philippe Sky Moon Tourbillon, Ref. 5002, in yellow gold, which sold for approximately 2.3 million Swiss francs.
Lot 123 – Patek Philippe Sky-Moon Tourbillon Ref. 5002 | Credits: Sotheby’s
Ref. 5002, introduced in 2001, is one of the most complex creations from the Geneva-based manufacture. Featuring two dials and twelve complications, it combines traditional haute horlogerie functions with astronomical indications.
Lot 88 – Patek Philippe Ref. 3970J | Credit: Sotheby’s
Another notable result was that of a Patek Philippe Ref. 3970J, a yellow-gold chronograph with a perpetual calendar believed to be the first numbered example of that reference, which sold for 2,048,000 Swiss francs.
Lot 80 – George Daniels Millennium | Credits: Sotheby’s
To round out the picture, a yellow-gold George Daniels Millennium sold for 1,536,000 Swiss francs. The watch is one of only 48 pieces produced in this metal and had remained with its original owner.
What do 203 million dollars really mean for the watch market?
The November auctions in Geneva delivered a highly significant result to the market, even though they represent an extremely selective segment of the collecting world. Million-dollar sales depend on a combination of rarity, condition, provenance, and quality of the lots, factors that make it difficult to extrapolate these results to the entire secondary market.
Rolex and Patek Philippe continue to set the standard, while the results achieved by F.P. Journe, Philippe Dufour, and other independent watchmakers confirm just how much the collector’s appreciation for their creations has grown. Early models, the rarest configurations, and pieces of particular historical significance attract a significant portion of the interest from major buyers.
Thirteen F.P. Journe watches, nearly $39 million. In a weekend that brought in $203 million, this figure is perhaps the one that will leave the biggest mark. It is a telling measure of the place that independent watchmaking has carved out for itself at the pinnacle of the international collecting scene.
Are you looking for the perfect gift? Explore our online store and discover the entire collection by IWS – Italian Watch Spotter!
For all the latest updates on the world of watchmaking, follow us on Instagram and visit our YouTube channel.
