What a way to cap off the spring season! Phillips just wrapped up the New York Watch Auction XII and it was nothing short of spectacular. A clean sweep with 100% sold by lot and 100% by value, hitting that magical USD 25 million mark. We're talking about their ninth consecutive "white glove" sale in New York. Nine straight times without missing a beat. That's the kind of consistency that makes you sit up and take notice.
Paul Boutros and Isabella Proia weren't wrong when they called this "extraordinary." With bidders from 70 countries—that's over a third of the globe represented in one room—the international appetite for serious timepieces is absolutely insatiable. What caught our attention? Nearly half of all registrants were American. The domestic market is hungry, and they're not messing around.
The Heavy Hitters That Made Our Heart Skip a Beat
Leading the charge was that exceptional yellow gold Patek Philippe reference 1518—a perpetual calendar chronograph that hadn't seen the light of an auction room in nearly 40 years. Fresh from a private American collection, this beauty commanded USD 1.45 million, nearly four times its low estimate. That's the second-highest price ever achieved for a yellow gold reference 1518. When a watch sits quietly in someone's collection for four decades and then explodes onto the market like this, you know you're witnessing something special.
Then there's that stainless steel Patek Philippe Calatrava reference 570 that took our breath away. Over USD 1 million to a phone bidder, making it the second-highest price for the reference. Here's what makes this piece truly exceptional—Phillips' research shows only four examples of a stainless steel 570 with large Breguet numerals and three-tone dials known to the public. This was the fourth. When you're talking about that level of rarity, these prices start making perfect sense.
The Stories That Gave us Goosebumps
That historic Rolex "Big Red" Daytona reference 6265 with the Jean-Pierre Jabouille provenance? Pure magic. The caseback engraving reads "DIE TO DRIVE – RENAULT F1 – J.P.J. 79," commemorating his groundbreaking 1979 French Grand Prix victory—the first for both Renault and a French racing team. It sold for USD 215,900, more than double the high estimate. This is exactly why we love this hobby. It's not just about the watches; it's about the stories they carry. Because every watch has a story and watches collect memories as we wear them.
Independent Makers Soared
F.P.Journe continues to be the darling of serious collectors, and rightfully so. That contemporary Répétition Souveraine with the smoked sapphire dial sparked a six-minute bidding war, ultimately hitting USD 685,800—a new auction record. But the real showstopper was the F.P. Journe Tourbillon Anniversaire Historique "T30" which rocketed to USD 889,000 against a low estimate of just USD 180,000. When Journe pieces are performing like this, you know the market has serious respect for independent excellence.
The Harry Winston Opus One Chronomètre à Résonance—that inaugural collaboration with F.P.Journe—achieved USD 838,200, setting a new record for the Opus series. These collaborative pieces between established houses and independent masters are becoming increasingly coveted, and for good reason.
A. Lange & Söhne Proves German Watchmaking Still Rules
That unique 1815 Chronograph “2022 Best of Show, Concorso d’Eleganza Villa d’Este” was something truly special. Serving as the top prize for one of the world's most prestigious Concours events, it realized USD 736,600 after nearly eight minutes of fierce bidding. The spectacular pink gold dial with brown subsidiary dials is a feature never seen before in this reference. When you've got a "1 of 1" Lange that's the very first piece awarded to a Concours winner to hit the public market, collectors take notice.
Ladies' Watches Finally Getting Their Due
The Patek Philippe reference 7000R-001 Ladies' Minute Repeater commanding USD 349,250—a world record for the reference—shows that the market is finally waking up to the sophistication of ladies' complications. But the real surprise was the Bulgari Tubogas which achieved USD 170,180 against a low estimate of just USD 4,000. Now that's what we call serious outperformance.
The Bottom Line
Phillips continues to prove they understand what serious collectors want. Fresh-to-market pieces with impeccable provenance, independent makers pushing boundaries, and heritage brands delivering the goods. When you can consistently deliver nine consecutive white glove sales, you're doing something very, very right.
This auction reinforced what those of us deep in this world already know—the appetite for exceptional timepieces with compelling stories shows no signs of slowing down. Whether it's a four-decade hibernating Patek or a one-off Lange with motorsport DNA, collectors are ready to pay for the extraordinary.
Now that's what we call a proper auction. Can't wait to see what they bring us next time.
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