Phillips in Association with Bacs & Russo, just delivered a masterclass in watch auctions this past weekend. Their "Decade One (2015–2025)" sale, held at the Hotel President in Geneva on November 8-9, achieved a staggering CHF 66,815,725 / USD 83,018,538 / €71,753,407—the highest total in U.S. dollars for any watch auction ever conducted. With a perfect 100% sell-through rate across all 207 lots, this white-glove performance solidifies Phillips' position as the undisputed leader in the watch auction world.

The auction house now accounts for the top three highest-grossing watch auctions of all time, a remarkable achievement that underscores the depth of collector confidence in the Phillips platform. The "Decade One" auction marks the highest total in USD for any watch auction in history.

The Star: A Steel Legend Returns

The undisputed hero of the weekend was Lot 23, the ultra-rare and elusive stainless steel Patek Philippe Perpetual Calendar Chronograph Ref. 1518 from 1943, which hammered at CHF 14,190,000 / USD 17,631,075 / €15,238,641. This result makes it the most expensive vintage Patek Philippe wristwatch ever sold at auction, surpassing its own previous record of CHF 11,002,000 when Phillips sold it in 2016.

The bidding lasted nine minutes and 28 seconds, with five different bidders competing before a phone bidder secured the legendary timepiece. As one of only four known steel examples of the ref. 1518, this watch represents the pinnacle of vintage collecting.

The Numbers Tell the Story

With 1,886 registered bidders from 72 countries—including 1,718 bidding online—the auction demonstrated the truly global reach of today's watch market. Nearly 800 collectors attended in person, filling the saleroom with energy and camaraderie throughout the weekend.

The average lot value reached an impressive CHF 322,000, with 12 watches selling for over CHF 1 million. These aren't just statistics—they reflect the maturity and sophistication of the collecting community Phillips has cultivated over the past decade.

Beyond the Headlines

While the steel Patek 1518 dominated headlines, numerous other lots achieved remarkable results:

Lot 144, a pink-on-pink Patek Philippe Ref. 1518 from 1947, realized CHF 3,569,000, while Lot 182, an F.P.Journe Chronomètre à Résonance Souscription No. 2, achieved CHF 3,327,000.

Independent watchmaking shone brightly, with the unique Lot 6, Ferdinand Berthoud "Naissance d'Une Montre 3" setting a world record for the brand at CHF 1,270,000. Lot 97, an F.P. Journe Tourbillon Souverain TN "Régence Circulaire" sold for CHF 1,693,500, setting another world record.

But Rolex collectors weren't left behind either. Lot 34, a circa 1967 Rolex Daytona "Paul Newman" Ref. 6239 "Golden Pagoda" in yellow gold, achieved CHF 1,079,500, a world record for the configuration. Lot 70, a circa 1971 Rolex Daytona Ref. 6263, known as the "Paul Newman, Oyster Sotto," in steel, reached CHF 1,391,000.

A Decade of Excellence

Alexandre Ghotbi and Tiffany To, who led the sale, emphasized that the results reflect not only exceptional watches but also the trust and community that Phillips has built over the past ten years.

Senior Consultants Aurel Bacs and Livia Russo added:

"We have hardly ever felt so much support, from the beginning of the auction season to when the gavel came down on the final lot."

With this historic sale, Phillips proves that when exceptional watches meet passionate collectors in a trusted environment, records aren't just broken—they're redefined.

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