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” 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 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 World record for the model |
CHF 250,000-500,000 |
CHF 804,400 $ 815,662 € 776,809 |
33 |
Audemars Piguet Ref. 25829TP Royal Oak
|
CHF 120,000-240,000 |
CHF 768,100 $ 779,259 € 742,140 |
52 |
Audemars Piguet Ref. 5402ST Royal Oak Jumbo “Khanjar”
|
CHF 150,000-300,000 |
CHF 756,000 $ 766,584 € 730,069 |
15 |
Audemars Piguet Ref. 25636PT Royal Oak
|
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 |
CHF 250,000-500,000 |
CHF 630’000 $ 638,820 € 608,391 |
61 |
Audemars Piguet Ref. 25654ST Royal Oak
|
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.