5 Watches Sell For Over $1 Million, Records Established

The Geneva Watch Auction: Two held by Phillips, in Association with Bacs & Russo, on 7 and 8 November realised $27,844,575, selling 95% by lot. The auction sold five lots for over $1 million and was led by a one of only two known examples of a stainless steel Patek Philippe reference 1436 from the 1940s which sold for $3,301,000.

Patek Philippe reference 2499 in yellow gold to be fitted with a champagne coloured dial sold for $1,805,000; An extremely rare, pink gold, star-dial Rolex reference 6062 – perhaps the best preserved ‘Stelline’ in existence – sold for $1,265,000, a world record price for this reference; and Rolex: ‘La Caravelle’, an extremely rare reference 6102 with a cloisonné dial by Stern Frères, sold for $1,235,000- a world record price for this reference and for any cloisonné enamel Rolex.

A closely watched highlight was the Rolex Submariner worn by Sir Roger Moore in the James Bond film ‘Live and Let Die’ which sold for $365,000.

The results of this auction complement the success of the two inaugural watch sales in May that realised $31.8 million, with four watches selling for over $1 million. The next auction of watches to be held by Phillips, in Association with Bacs & Russo, will be The Hong Kong Watch Auction: One on 1 December 2015.
Aurel Bacs, Auctioneer and Senior Consultant said, “Following on from our inaugural auctions in May, we have seen that collectors continue to be drawn to the rarest and most exceptional watches, and that competition for these pieces is international and intense. The collectors in a packed saleroom of over 400 people faced competition from a notable number of Asian clients, as well as online bidders from 30 countries who bid at all price levels, including a bid of $1.6 million through Phillips recently-launched app. Together with the Daytona ‘Albino’ which made $1.4 million in May, we are also pleased to have now sold three Rolex watches above the $1 million-mark this year.”