Phillips in Association with Bacs & Russo Achieves

Market-Leading CHF 35.9 Million Result for The Geneva Watch Auction: XIX Featuring the Guido Mondani Collection

With an Average CHF 133,700 Price per Lot

Star Lot of the Auction, the Patek Philippe Ref. 2523/1 Two-Crowned Worldtimer in Yellow Gold “Ore del Mondo Doppia”,

Sells for CHF 1.7 Million

Extremely Rare Ref. 6241 “John Player Special” 14k Yellow Gold Sells for CHF 1.3 Million

The Top Ten Lots Totalled CHF 10.2 million, with Five Watches Selling Above CHF 1 Million

Aurel Bacs auctioneering lot 55 for CHF 1.7 million during The Geneva Watch Auction: XIX

The Geneva Watch Auction: XIX

TOTAL: CHF 35,959,720 / $ 39,667,167/ € 36,815,561

Lots sold: 212 | Lots offered:215                                                                     Sold by lot: 99% | Sold by value: 99%

GENEVA – MAY 12, 2024 – Phillips in Association with Bacs & Russo achieves CHF 35,959,720 / $ 39,667,167 / €36,815,561 in The Geneva Watch Auction: XIX Featuring the Guido Mondani Collection, surpassing the pre-sale high estimate of CHF 35.1 million. The auction, held on Saturday 11 and Sunday 12 May 2024, garnered significant interest from collectors and enthusiasts participating in the sale from across 72 countries worldwide.

Over 450 collectors attended the auction in person and an additional 1,500 bidders took part in the sale online, collectively acquiring half of the lots offered. The atmosphere in the recently unveiled saleroom at the Hotel President Geneva, Phillips’ new premier exhibition and auction venue, was vibrant with energy and enthusiasm.

Phillips maintains its market-leadership, cementing its position by consistently curating compelling auctions that showcase a diverse array of sought-after timepieces. This achievement was highlighted by the remarkable results attained at the Hotel President Geneva over the weekend, where the average lot price surged to an impressive CHF 133,700. Notable highlights included the sale of five watches which each sold for over CHF 1 million, resulting in a cumulative top ten sales total of CHF 10.1 million.

The star lot of the sale was the Patek Philippe Ref. 2523/1, a well-preserved yellow gold world time wristwatch with two crowns, guilloché dial and metallic city ring. Following spirited bidding from collectors taking part in the sale online, on the phone, and in the room, the watch ultimately sold to a phone bidder, soaring past its low pre-sale estimate to CHF 1,754,000.

Patek Philippe watches once again captivated enthusiasts, particularly the extraordinary Patek Philippe steel model Ref. 3670A-001. This exceptionally rare limited-edition stainless-steel cushion-shaped chronograph wristwatch, featuring a 1950s movement and accompanied by its original certificate, commanded significant attention. One of only 16 pieces made, it sold for CHF 1,168,400, establishing a new world record for the reference. Further Patek Philippe highlights include the Patek Philippe Ref. 5004R-018, a rare pink gold perpetual calendar split seconds chronograph wristwatch with moon phases, 24 hours, leap year indicator, certificate and fitted presentation box, which sold for CHF 533,400, more than tripling its low pre-sale estimate.

The Guido Mondani Collection amassed a total of CHF 3.6 million. Two lots from the collection ranked in the top ten of the sale. Among these was an exceptional Rolex reference 6269, featuring a bezel set with 44 brilliant diamonds and a pavé dial of 240 diamonds, which sold for CHF 952,500. Another important lot of the collection was a Rolex Ref. 6036 “Jean Claude Killy”, a highly rare pink gold triple calendar chronograph wristwatch which sold for CHF 609,600.

Fantastic results were achieved for Rolex models which continue to attract the attention of the most seasoned collectors. A highlight of the sale was the Rolex Ref. 6241 “John Player Special”, a very rare chronograph wristwatch in 14k yellow gold with a black "Paul Newman" dial, which sold for CHF 1,330,500. Another important Rolex model in this sale was the Rolex Ref. 6102 “La Caravelle”, a yellow gold wristwatch with cloisonné enamel dial depicting a caravel and original Bucherer certificate, which sold for CHF 1,270,000.

Phillips continues to shine a light on Independent Watchmaking, craftsmanship and innovation. Timepieces made by Independent Watchmakers drew significant interest from both in-room and online bidders. Rexhep Rexhepi’s Ref. RRCC1, a wristwatch in platinum with white Grand Feu enamel dial, sold for CHF 1,155,700, almost doubling its pre-sale high estimate. Further notable Independent Watchmakers featured this season include Kari Voutilainen, Akrivia, Laurent Ferrier, Vianney Halter, Daniel Roth, Greubel Forsey, Urwerk, and F.P. Journe, among others.

F.P. Journe models achieved remarkable results in the sale, including the Pre-Souscription Chronomètre à Resonance in platinum which sold for CHF 571,500 and the Tourbillon Souverain “Hong Kong” in titanium and pink gold which sold for CHF 508,000.

Philippe Dufour’s Simplicity model in platinum 34mm case, achieved CHF 406,400.

The double signed Breguet Chaumet, an incredible and exceptionally rare white gold wristwatch with Hijri calendar, one of only 2 made, sold for CHF 247,650, achieving over five times the pre-sale low estimate.

Alexandre Ghotbi, Deputy Chairman & Head of Watches, Europe, and Middle East and Tiffany To, Senior International Watch Specialist and Head of Sale, jointly said: " In a fast-paced evolving market, quality, scarcity, and rarity once again stood out. Phillips’ steadfast commitment and uncompromising approach to quality and in-depth research meets the demands of the market, as exemplified in this auction. The resounding positive feedback from collectors and the wider watch community is a testament to the exceptional offerings at our Geneva Watch Auction: XIX. We extend our sincere gratitude to all the collectors who entrusted us with their watches and to the bidders who participated, especially those who traveled long distances to join us at the Hotel President over the past few days.”

TOP TEN LOTS OF THE GENEVA WATCH AUCTION: XVIII

Upcoming watch auctions:

THE HONG KONG WATCH AUCTION XVIII on May 24-25, 2024 & NEW YORK WATCH AUCTION: X on June 8-9, 2024