Phillips’ New York Watch Auction: X Achieves Market-Leading $23.4 Million Result

NEW YORK – 9 JUNE 2024 – Phillips is proud to announce that The New York Watch Auction: X realized $23.4 million, selling 100% by lot and 100% by value, marking three and a half years of 100%-sold watch auctions at Phillips New York. Leading the sale was Philippe Dufour’s Duality at over $2 million and the museum-quality Cartier Mystery Clock at $1 million. Strong prices were achieved for Rolex, Patek Philippe, and Audemars Piguet, alongside independent makers such as F.P. Journe, Richard Mille, and Urban Jurgensen.

 

Paul Boutros, Head of Watches, Americas, and Isabella Proia, Head of Sale, New York, jointly said, “We were delighted to conclude Phillips’ spring season of international watch auctions on such a strong note. Over the past week, we welcomed collectors from across the globe into our exhibition at 432 Park Avenue, where we saw tremendous enthusiasm for the sale that our team had the privilege of assembling. That momentum continued into the auction itself, with timepieces of incredible quality and craftsmanship commanding top prices, thanks to the spirited participation of bidders from 60 countries. The sale was led by Philippe Dufour’s highly sought-after Duality at $2 million, continuing Phillips’ track record of offering these ultra-rare wristwatches to the public, with the present watch marking the third example to be sold by our team.  It was also an honor to be entrusted with the sale of Cartier’s unique table clocks, including such an exquisite Mystery Clock – the ultimate creation of Cartier. The fascination we saw from the collecting community was just as strong today as it was when these astonishing clocks were debuted over a century ago. That excitement is clearly reflected in the Mystery Clock’s final price of over $1 million, which was achieved after a six-minute bidding war between nine collectors from three continents. With just 149 lots sold, we are proud to have achieved the highest sale total this season in the Americas across the industry.”

 

Leading the two-day live auction was a stunning example of Philippe Dufour’s coveted Duality wristwatch, which realized over $2 million, against an estimate of $800,000-1,600,000. Considered a monumental achievement in horological history, Dufour had planned on making twenty-five Duality timepieces in total. However, due to their complexity, he made just nine examples. In addition to the Duality, the Dufour’s Simplicity saw a great deal of interest, ultimately realizing $533,400.

 

Examples by Cartier also performed remarkably well across the board, including the highly anticipated sale of two unique desk clocks from a private collection. Mystery Clocks have become some of the most sought-after creations from the house of Cartier over the past century. The example offered by Phillips represents the true pinnacle of these achievements, realizing over $1 million, more than double its last auction price in 1990. The Pendulette à Chevalet from the same private collection also saw spirited bidding, achieving $190,500. Wristwatches by Cartier saw fervor among collectors, as well. The possibly unique Crash with green numerals soared past its $30,000-60,000 estimate, selling for $241,300, while the Baignoire Allongée with black dial nearly quadrupled its estimate at $387,350.

 

Strong prices for Rolex wristwatches were achieved, as well, including for the Paul Newman John Player Special made circa 1970, which realized $952,500. The modern Daytona Ref. 116519 limited edition “Netherlands Edition” Daytona Cosmograph, celebrating the 2010 FIFA World Cup South Africa second place title holder, also achieved the exceptional price of $266,700.

 

Timepieces by Patek Philippe commanded strong prices, as evidenced by the ref. 1518 perpetual calendar chronograph from 1945 selling for $762,000 after an eight-minute bidding war. Offered by the family of the original owner, this wristwatch was completely fresh-to-the-market. The ref. 5208P, an instantaneous perpetual calendar with chronograph and minute repeater, a testament to the pinnacle of modern watchmaking excellence by Patek Philippe made in 2017, sold for $939,800.

 

Among the independent makers in the sale, examples by the likes of Urban Jürgensen, Hajime Asaoka, and Haldimann also achieved prices well above estimate. Urban Jürgensen’s Ref. 11C – a prototype for the brand’s groundbreaking P8 movement – sold for $152,400, more than five times its estimate. Just a few moments later, the Hajime Asaoka Tourbillon PURA saw a spirited seven-minute bidding war, leading to a final sale price of $361,950 against its estimate of $120,000 - 240,000.

 

Phillips was proud to present a strong selection of impressive pocket watches in The New York Watch Auction: X, as well. From the Patek Philippe Pocket Watch Chronometer to Charles Frodsham’s exquisite tourbillon pocket watch – the eleven pocket watches in this sale realized a total of nearly $1.6 million, against a combined low estimate of just $577,000. The performance of these timepieces signifies the market’s continued appreciation and demand for this area of horological history.