The 2021 New York Watch Auction Realizes $35.9 Million, Concluding a 100% Sold Year for Phillips’ Watch Sales, A First for Any Auction House in History

 

NEW YORK – 12 DECEMBER 2021 – Phillips in Association with Bacs & Russo is proud to announce that The 2021 New York Watch Auction realized $35.9 million, selling 100% by lot and 100% by value, marking the most successful Watch auction in US history. This concludes a 100% sold year for Phillips Watches – a first for any auction house in history. It was also the most successful year ever for the department – bringing the annual total to $209.3 million, marking the first time this sale total has been reached by any auction house, which also marks an 89% increase over 2019. Leading the auction was the very first Patek Philippe Nautilus ref. 5711 with Tiffany Blue® dial, which realized $6.5 million, making it the highest value watch to sell online at any auction house and the most expensive lot to sell online across all categories at Phillips. 100% of the proceeds will be donated to The Nature Conservancy.

 

Paul Boutros, Head of Watches, Americas, said, “It was a pleasure to welcome bidders back into our New York saleroom for such a historic sale – and the first watch auction at Phillips’ new headquarters in 432 Park Avenue. Across two days, we saw tremendously spirited bidding from nearly 75 countries, leading to game-changing prices for vintage and modern wristwatches alike. A spectacular George Daniels Tourbillon pocket watch – the fourth timepiece ever produced by the independent watch master – achieved $1.7 million, underscoring Daniels’ enduring legacy in the field. Bidders also competed fiercely for a Rolex ref. 6241 Cosmograph Daytona Paul Newman “John Player Special,” which sold for $1.2 million, and we were delighted to set a new record for any watch by Roger Smith at $730,800. It was also an honor to be able to offer the Omega Speedmaster owned and worn by American author Ralph Ellison, following the publication of his masterpiece, Invisible Man. The watch soared past its estimate to $667,800, over sixty times its estimate, being acquired by the Omega Museum.”

 

Aurel Bacs, Senior Consultant, said, “Since Bacs & Russo joined forces with Phillips just six years ago, the market has only strengthened for rare and exceptional timepieces. We’ve seen records fall again and again throughout the years, and 2021 was no different. The momentum gained throughout a truly stellar year continued straight into The 2021 New York Watch Auction. Kicking off the sale was one of the most important watches I’ve ever had the privilege of auctioning – the highly coveted Patek Philippe Nautilus ref. 5711 with Tiffany Blue® dial. The enthusiasm we saw in the leadup to the sale, which was reflected in the price it achieved, is a testament to the enduring legacy of 170 years of partnership between Patek Philippe and Tiffany & Co. It is also incredibly humbling for Phillips to play a part in raising such well-deserved funds for The Nature Conservancy. We are grateful to all those who helped make this extraordinary result possible, especially to the many people around the globe who raised their paddles on such a momentous occasion. Following the New York sale, our annual total of $209.3 million marks the most successful year ever for Phillips Watches, as well as for any auction house across the globe.”