The New York Watch Auction: NINE Realizes $26 Million, the Highest Sale Total Across the Auction Industry this Season in New York

 

NEW YORK – 10 DECEMBER 2023 – Phillips is pleased to announce the results from The New York Watch Auction: NINE, which realized $26 million, selling 100% by lot and 100% by value. The sale marks the third consecutive year of 100% sold sales for Phillips’ Watches Department in New York, along with the highest annual total for the Department in New York at $52.3 million. Leading the auction was an exceptionally preserved Patek Philippe Ref. 1518 in pink gold, which achieved $1.8 million, the highest value lot across the industry this season in New York. Unseen for over two decades, the watch has remained in one of the most important private American collections for over two decades and is amongst the best-preserved examples of the reference known to the market.

 

Paul Boutros, Head of Watches, Americas, and Isabella Proia, Head of Sale, New York, jointly said, “It was wonderful to conclude such a dynamic year of Watch auctions at Phillips with a sale that so perfectly captures the spirit of this endlessly fascinating collecting category – from the vintage Patek Philippe Ref. 1518, which realized $1.8 million, to the cutting-edge MB&F Horological Machine 4, which achieved $120,650. Amidst a bustling saleroom and lively phonebanks, we had well over 1,500 registered bidders participating in the sale, representing nearly 70 countries. It’s clear that the strength of the market endures, as discerning collectors continue to seek out rare and important timepieces. We were honored to play a role in the sale of Casio’s G-Shock 40th Anniversary Dream Project #2, which set a world record price for a Casio watch. The one-of-a-kind watch raised a remarkable $400,050 for The Nature Conservancy in support of their ever-important mission.”

 

Further underscoring the strength of Patek Philippe was the performance of the likely unique Patek Philippe Ref. 5204P-021 perpetual calendar with split-seconds chronograph, skyrocketed to over four times its low estimate of $150,000 to a record-breaking price of $838,200 after a fierce international bidding battle that lasted eight minutes, ultimately selling to an online bidder. A vintage Ref. 1463 “Tasti Tondi” chronograph retailed by “Serpico Y Laino” with an extremely desirable two-tone, pink-on-pink, or “PoP”, dial with pink gold case and pink dial realized $565,150, after ten minutes of fierce bidding.

 

The demand for vintage Rolex models remains strong, evidenced by the Rolex “Paul Newman Lemon” Daytona Ref. 6264, which achieved $965,200. With its Art Deco numerals and creamy yellow dial, this watch aged beautifully over the past half–century, having been consigned by an important American collector. An exceptional “Paul Newman” Ref. 6241 also performed well, realizing $673,100 against a low estimate of $300,000. The watch was made all the more desirable with its extremely coveted “Tiffany & Co.” signature below the Rolex Cosmograph designation.

 

In celebration of the 40th anniversary of Casio’s G-Shock, the Dream Project #2 achieved $400,050, with 100% of the proceeds benefiting The Nature Conservancy (TNC). Donated by the brand to TNC, the completely unique wristwatch is crafted from 18k yellow gold with an exterior case designed with the assistance of generative artificial intelligence (AI). Forty years of G-SHOCK data was provided to a custom AI system that generated a three-dimensional model optimized for factors including structural strength, material characteristics, and processing methods. The watch also boasts a solar power mechanism and radio frequency timing. This sale marks a world record price for a Casio watch.