Press | Phillips

08 May 2022

Phillips in Association with Bacs & Russo Achieves CHF 22.3 Million in the Royal Oak 50th Sale with a White Glove sale

Phillips in Association with Bacs & Russo

Achieves CHF 22.3 Million in the Royal Oak 50th Sale

with a White Glove sale

 

The Historic and Commemorative Sale Dedicated

To The Iconic Royal Oak Model Sees Numerous

All Time World Records

 

The Royal Oak 5402ST A2 Fetches CHF 1,058,500

 

 

Aurel Bacs auctioneering lot 8 in the Royal Oak 50th, which sold for CHF 1.05 million with buyer’s premium

 

The Royal Oak 50th

TOTAL: CHF 22,303,780/ $22,616,032/ €21,538,760

 

Lots sold: 88 | Lots offered: 88                                                                      Sold by lot: 100% | Sold by value: 100%

 

GENEVA – 6 May 2022 – Phillips in Association with Bacs & Russo achieved a total of CHF 22,303,780/ $22,616,032/ €21,538,760 in The Royal Oak 50th Sale on 6 May – a white glove sale that more than tripled its pre-sale low estimate of CHF 6.8 million.

 

Phillips’ team of watch specialists united for, what is probably to date, the rarest assembly of historically important, and in some instances unique, Royal Oak models gathered in one place. The sale took place on Friday, 6 May, in Geneva, and offered 88 tightly curated lots. The sale precedes The Geneva Watch Auction: XV, which follows on Saturday and Sunday 7-8 May 2022. The majority of lots soared above their high estimates, including several record-breaking watches. Collectors from across 54 countries joined the auction, and online participation continued to increase exponentially, with more than 1000 online registered bidders. This resulted in half of the lots presented in the Royal Oak 50th selling to online bidders, with 430 watch aficionados participating in person in the saleroom.

 

The impressive and highly anticipated star-lot, a Royal Oak reference 5402ST A2 - the second Royal Oak ever made - added extra fervor to the bidding. The watch was one of the four Royal Oak models presented to the press and public at the opening of the Basel watch fair in 1972. During the auction, it eventually surpassed the CHF 1 million mark realizing CHF 1,058,500, therefore selling five times its pre-sale low estimate.

 

Another impressive result was achieved by the Royal Oak perpetual calendar in platinum, reference 25654PT with coper brown dial, and double-signed by Asprey realized CHF 1,022,200, doubling its pre-sale high estimate.

 

An icon probably worn by an icon, The Lagerfeld Royal Oak reference 5402ST, a very distinctively blackened stainless-steel Royal Oak Jumbo model, fetched CHF 937,500. The watch, in all likelihood, was bought in Italy in 1974 and is understood to have been worn by the famous German designer, creative director, fashion designer and artist, Karl Lagerfeld.

 

Finally, another remarkable result was achieved by the Royal Oak “Tuscan” Jubilée ref. 14802P.
limited edition platinum wristwatch with blue Tuscan dial, date, bracelet, made to celebrate the 20th anniversary of the model, which eventually sold for CHF 804,400.

 

Alexandre Ghotbi, Head of Watches, Continental Europe and Middle East and Virginie Liatard Roessli Watch Specialist and Head of Sale, stated: “Our first live sale of the year demonstrated the collectors’ hunger for rare top quality and never seen timepieces, especially those with provenance. With these results, the Royal Oak has clearly demonstrated its desirability on the market. This is a watch that created a new genre, and a new design language. Its relevance and historical importance were once again recognized by scholars and collectors. This resulted in such a firework of sales, where we saw intense bidding in the room, on the phones and online, for each of the 87 watches and one book that was sold for charity.”

 

TOP TEN LOTS OF THE ROYAL OAK 50TH

Lot

Description

Estimate

Price Achieved

8

 

Audemars Piguet Ref. 5402ST Royal Oak A series, “The A2”
An historically important and extremely well-preserved stainless-steel wristwatch with date, bracelet, box and certificate of origin

World record for a vintage Royal Oak ever at auction

CHF 200,000-400,000

CHF 1,058,500

$ 1,073,319

€ 1,022,193

40

Audemars Piguet Ref. 25654PT Royal Oak
An extremely rare and attractive platinum perpetual calendar wristwatch with brown dial, bracelet, certificate and box retailed by Asprey bearing N0. 1

World record for any perpetual calendar Royal Oak

CHF 250,000-500,000

CHF 1,022,200

$1,036,511

€ 987,138

88

Audemars Piguet Ref. 5402ST Royal Oak Jumbo “Karl Lagerfeld”.

A very distinctive blackened stainless-steel wristwatch with date and bracelet

CHF 100,000-200,000

CHF 937,500

$ 950,625

€ 905,343

10

Audemars Piguet Ref. 14802PT Royal Oak “Tuscan” Jubilée
An extremely attractive limited edition platinum wristwatch with blue Tuscan dial, date, bracelet, made to celebrate the 20th anniversary of the model

World record for the model

CHF 250,000-500,000

CHF 804,400

$ 815,662

€ 776,809

33

Audemars Piguet Ref. 25829TP Royal Oak
An extremely rare and superb tantalum and platinum perpetual calendar wristwatch with openworked dial and bracelet, part of a 16-pieces limited series

World record for the model

CHF 120,000-240,000

CHF 768,100

$ 779,259

€ 742,140

52

Audemars Piguet Ref. 5402ST Royal Oak Jumbo “Khanjar”
An extremely rare and fine stainless-steel wristwatch with date and bracelet, made for the Sultanate of Oman

CHF 150,000-300,000

CHF 756,000

$ 766,584

€ 730,069

15

Audemars Piguet Ref. 25636PT Royal Oak
A superbly rare and incredibly attractive platinum perpetual calendar wristwatch with openworked dial, moonphases, bracelet and box

CHF 200,000-400,000

CHF 680,400

$ 689,925

€ 657,052

54

Audemars Piguet Ref. 5554ST Royal Oak “Triple Serial”

A supremely rare stainless steel perpetual calendar wristwatch with moonphases, 4-digit reference and "triple serial" case. The first and thinnest Royal Oak perpetual calendar model ever produced, part of a 49 pieces series

CHF 80,000-160,000

CHF 680,400

$ 689,925

€ 657,062

72

Audemars Piguet Ref. 25659BA
An impressive yellow gold and diamond perpetual calendar wristwatch with open worked dial, part of a 3-pieces limited series

CHF 250,000-500,000

CHF 630’000

$ 638,820

€ 608,391

61

Audemars Piguet Ref. 25654ST Royal Oak
A very attractive stainless steel perpetual calendar wristwatch with salmon dial, bracelet, certificate and box

CHF 100,000-200,000

CHF 579,600

$ 587,714

€ 559,719

 

 

Please click here for images of the top ten in The Royal Oak 50th

Please click here for the image on the rostrum

 

 

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, achieving a global auction sale total of $209.3 million in 2021, the most successful year for any auction house in watch auction history.

 

A selection of our recent record-breaking prices:

 

1. Paul Newman’s Rolex “Paul Newman” Daytona reference 6239 (CHF 17,709,894 / US$17,752,500) – New York Auction: Winning Icons – 26 October 2017 – Highest result ever achieved for any vintage wristwatch at auction.

 

2. Patek Philippe reference 1518 in stainless steel (CHF 11,020,000 / US$11,112,020) – Geneva Watch Auction: FOUR – 12 November 2016 – Highest result ever achieved for a vintage Patek Philippe wristwatch at auction.