Our first live auction of 2026, the PHILLIPS Geneva Watch Auction: XXIII, takes place on 9 & 10 May, at the Hotel President, at Quai Wilson 47, in central Geneva. The auction includes more than 200 of the world's finest watches – and though we are loath to boast, we truly think it's one of the best catalogues we've ever put together. In the lead-up to the auction, we are highlighting a selection of lots and stories from the sale, including four exceptional Patek Philippe timepieces from the Ernst Schuster collection featured in this article.
– By Sophie furley
Ernst Schuster lived many lives at once. Born in Würzburg, Germany, in 1946, he left his family’s farm at 19 and built a new life for himself in Munich, where he would go on to become a gentleman racer, taking his Ferraris and Porsches to Goodwood, Le Mans, and the Targa Florio. He collected art with the same intensity, forming friendships with figures like Keith Haring, who once sketched spontaneously on the caseback of one of Schuster’s watches – a stainless steel Patek Philippe Ref. 1518, one of only four known. That mix of curiosity, instinct, and courage defined everything he did.
Watches were central to that story. Schuster began collecting in the 1960s, drawn first to Patek Philippe and Rolex, and later to Cartier. He started buying seriously in the 1970s, at the height of the Quartz Crisis, when mechanical watchmaking seemed destined for obsolescence. Where others saw anachronisms, Schuster saw beauty and longevity. He sought out complicated Patek Philippe chronographs and world timers that languished in display cases, Rolex Daytonas that few yet called “Paul Newman,” and Cartier creations that bridged design and horology. His approach was instinctive, not speculative – he bought what delighted him, often on a large scale, and often long before the rest of the world caught up.
The result was a collection of remarkable depth and vision, assembled at a pivotal moment in modern watch history. Now, decades later, Schuster has decided to part with some of those pieces, sharing the watches that defined his life and taste with a new generation of collectors.
A number of pieces from the Ernst Schuster Collection appeared at both Phillips’ Decade One sale in Geneva and at the Hong Kong Watch Auction: XXI in 2025, and now four additional Patek Philippe timepieces are being presented at the upcoming Geneva Watch Auction: XXIII that will be held at President Hotel Wilson on May 9-10. Let’s take a closer look.
Lot No. 7 Patek Philippe Ref. 5055G in white gold
The reference 5055G dates back to 1998 and represents one of Patek Philippe’s most distinction designs from the 1990s. Its sleek black dial, featuring Arabic numerals on the upper half and a layout reminiscent of the Nautilus Ref. 5712, has long been admired by collectors. The watch is housed in a 36mm 18-karat white gold monobloc case that integrates both the lugs and the bezel, adding to its instantly recognizable character. Inside beats the automatic Caliber 240 with micro-rotor that indicates the hours, minutes, small seconds, date, phases of the moon, and 48-hour power reserve. Offered on an alligator strap, this wristwatch is accompanied by its full set of original accessories.
Lot No. 8 Patek Philippe Ref. 5000J in yellow gold
Produced in 1994, this reference 5000J draws inspiration from Patek Philippe’s iconic Calatrava Ref. 96 and epitomizes the brand’s discreet, elegant approach to watchmaking. This yellow gold example, with its striking black dial and off-set subsidiary seconds, offers a particularly contemporary configuration. Measuring 33mm in diameter, it captures the refined, understated proportions of its era. Accompanied by its Patek Philippe Extract from the brand's archives, this model is in excellent condition.
Lot No. 9 Patek Philippe Ref. 5004P in platinum
The Patek Philippe Ref. 5004, introduced in 1996, was the brand’s first serially produced perpetual calendar with split-second chronograph, a complication which was long regarded as one of the most demanding mechanisms in haute horlogerie. At its heart beats the caliber CH 27-70 Y, the final Lemania-based ébauche that was used by Patek Philippe and meticulously reworked and finished to the brand’s high standards. Production of these movements was strictly limited, with around a dozen examples completed per year over a period of 16 years. Discontinued in 2012, the reference was succeeded by the 5204, featuring a newly developed in-house movement. This early example from 1997 is housed in a highly desirable platinum case and is fitted with a rare semi-gloss black dial with applied Arabic numerals.
Lot 10. Patek Philippe Ref. 130 in yellow gold
Reference 130 was Patek Philippe’s first serially produced chronograph, unveiled in 1934. Some of the earliest examples of this model were custom-ordered and occasionally featured a Victorin Piguet ébauche. The gold cases were crafted by one of the finest casemakers of the day, Emile Vichet, and this reference is marked by the number 9 inside a key, stamped on the inner caseback. The model enjoyed great success and despite its 30-year run, production was limited to around 1,500 pieces, predominantly in yellow gold, followed by pink gold and steel. The present example comes in 18-karat yellow gold and features raised enamel scales and signature on the dial.
You can learn more, place a bid, and view the entire Geneva Watch Auction: XXIII catalogue right here.
_______________________________________________________________________________________________
About Phillips In Association With Bacs & Russo
The team of specialists at PHILLIPS Watches is dedicated to an uncompromised approach to quality, transparency, and client service. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its Geneva Watch Auction: XIV having realized $74.5 million in 2021. Over the course of 2021 and 2022, the company sold 100% of the watches offered, a first in the industry, resulting in the highest annual total in history across all the auction houses at $227 million.
Recommended Reading
Inside the Ernst Schuster Collection
Ernst Schuster Collection (Video)
Collector Ernst Schuster Returns With Another Round of Exceptional Watches