Phillips in Association with Bacs & Russo achieved HK$124,633,750 / US$15,890,803 during The Hong Kong Watch Auction: SIX, which represents a 17 per cent increase from the previous auction held in Hong Kong. The sale concludes the Spring season and brings the total achieved in May 2018 to over US$61 Million, a new record for a single seaon of sales.
The Hong Kong Watch Auction: SIX will be remembered for its tighly curated selection of important vintage watches. A total of 216 collectible timepieces of the highest quality were sold to collectors from 47 countries across six continents, including a record number of over 460 online bidders. Particularly strong results were achieved for both vintage and modern watches, including antique pocket watches such as the pair by Edouard Juvet, and the beautiful selection by Patek Philippe. Independent watchmakers ignited great competition that brought noteworthy prices for Greubel Forsey, and the Richard Mille Ref. RM 003 AC CA in 5 pieces.
Thomas Perazzi, Head of Watches, Asia, and Auctioneer, said: “I could not have imagined a warmer welcome from the worldwide, and in particular Asian, community of watch collectors than what I have received during my first full season at Phillips. In a crowded room at the Mandarin Oriental, with an unprecedented number of online, telephone and room bidders, over 30 watches soared above the HK$1 million mark, setting numerous records and exceptional prices. Phillips is fully committed to further expanding our presence in Asia and offering best-in-class quality, service and scholarship to collectors in the region.”
Aurel Bacs, Senior Consultant and Auctioneer, said: “Following our blockbuster sales in Geneva, the Hong Kong Watch Auction: SIX achieved an impressive HK$124.6 million / US$15.9 million – outperforming the same sale in May last year by 17% – bringing Phillips’ total for the category to over US$61 million for the first half of 2018 and maintaining its undisputed worldwide market leadership. The top ten is dominated by Patek Philippe and Rolex, with a broad array of vintage collectors watches and highly limited editions. In this passionate and international marketplace, collectors reacted enthusiastically, resulting in numerous record sales and an industry-leading sold rate of 98% by value.”
For more information on the Hong Kong Watch Auction: SIX, including full results of the sale (inc. buyer's premium), please visit the online catalogue here.