Auction Phillips Closes the Year with Record-Breaking Results in Watch Auctions

Phillips Watches recorded the highest annual total in auction history, reaching US $370 million in its 10th anniversary year, with watch auctions alone exceeding US $290 million in 2025, surpassing the previous record of US $227 million set by Phillips in 2022. Phillips Watches became the first auction house to achieve five consecutive years above US $200 million in annual watch auction sales, and beyond auctions, the company generated an additional US $80 million in 2025 through Private Sales and Phillips Perpetual.

Aurel Bacs and Livia Russo, Senior Consultants of Phillips in Association with Bacs & Russo, commented:

“This year marks a historic milestone for Phillips Watches. With over US $290 million in total auction sales—the highest annual total ever achieved in the history of watch auctions—we are proud to reaffirm our leadership in the global market. These results reflect both the enduring confidence of collectors and our team’s unwavering dedication to presenting only the most exceptional and important timepieces. As we celebrate ten years of Phillips in Association with Bacs & Russo, we remain committed to integrity, scholarship, and passion in all that we do.”

Key Auction Statistics for 2025

• Phillips Watches achieved total auction sales of US $290,463,315 in 2025, establishing a new world record for the highest annual total ever realized by a watch auction department, and becoming the first to record five consecutive years above US $200 million.
   
• Phillips maintained its global market leadership with an estimated 45% market share, compared with its two principal international competitors.
   
• Phillips remains the only auction house to have sold wristwatches above US $10 million at auction (excluding charity lots), with two such results achieved in 2025. The firm now holds the records for the three most valuable wristwatches ever sold at non-charity auction.
   
• A total of 1,802 lots were sold, including 36 timepieces exceeding US $1 million, the highest number achieved in a single year.
   
• Phillips conducted six live auctions and seven online sales, with only 11 lots unsold, resulting in a 99% sell-through rate by lot and 100% by value—the strongest performance in the industry. Overall, hammer prices plus buyer’s premiums reached 246% of pre-sale low estimates.
   
• Phillips New York continued its unprecedented streak of five consecutive years of 100% sold “white glove” live auctions.
   
• 59% of lots sold above their high estimates (all-in), 62% met or exceeded their mid estimates, and 98% sold above their low estimates.
   
• Average lot values reached US $173,000 for live auctions and US $20,000 for online sales, with an overall average of US $130,000, all industry-leading figures.
   
• Collectors from 80 countries participated in Phillips’ global watch auctions. 35% of buyers were new to Phillips, while 32% belonged to the Millennial or Gen Z generations.
   
• 96% of bidders participated online, underscoring continued global digital engagement.
   
• Phillips also raised over US $2.5 million for charitable causes in 2025, in collaboration with partners including Philippe and Elisabeth Dufour, Ferdinand Berthoud (Naissance d’Une Montre 3), Universal Genève, and Geneva Watch Days.

Key Auction Highlights of 2025

Patek Philippe Perpetual Calendar Chronograph Ref. 1518 in Stainless Steelة Sold for CHF 14,190,000 / US $17,631,075, becoming the most valuable vintage Patek Philippe wristwatch ever sold at auction and the most valuable timepiece sold globally in 2025.

F.P. Journe FFC Prototype From the Collection of Francis Ford Coppola

Achieved US $10,775,000, setting new world records for an F.P. Journe wristwatch, for any independent watchmaker at auction, and for any 21st-century, non-charity timepiece. It also marked the highest auction result for a timepiece sold in the United States since Phillips’ sale of Paul Newman’s Rolex Daytona in 2017.

Vintage Rolex and Patek Philippe

Exceptional vintage Rolex and Patek Philippe wristwatches delivered strong results throughout the year. Highlights included the only known Patek Philippe Perpetual Calendar Ref. 3448 in 18K pink gold (CHF 2,722,000 / US $3,272,933), a Ref. 2499 First Series with Wenger case in 18K yellow gold (CHF 1,633,000 / US $2,029,003), and the iconic Ref. 1518 ‘Pink on Pink’ (CHF 3,569,000 / US $4,434,483).

Among Rolex highlights, the Cosmograph Daytona Ref. 6263 ‘Paul Newman, Oyster Sotto’ realized CHF 1,391,000 / US $1,728,318, while the Ref. 6269 ‘Red Khanjar’ achieved CHF 1,378,900 / US $1,713,283.

Independent Watchmaking

Phillips reaffirmed its leadership in contemporary independent watchmaking, achieving record participation and prices. Standout results included Philippe Dufour’s Duality No. 1 (US $3,085,000), F.P. Journe’s Chronomètre à Résonance Souscription No. 2 (CHF 3,327,000 / US $4,133,798), alongside exceptional performances by Kari Voutilainen, Christian Klings, Daniel Roth, Urban Jürgensen, Konstantin Chaykin, Berneron, and Charles Frodsham & Co.

Clocks and Pocket Watches

Collectors also showed strong interest in historically significant clocks and highly complicated pocket watches. Highlights included the F.P. Journe × Breguet Pendule Sympathique Clock No. 1 (CHF 5,505,000 / US $6,619,212), the Cartier Portico Mystery Clock No. 3 (CHF 3,932,000 / US $4,727,837), and the A. Lange & Söhne Grande Complication Pocket Watch (CHF 1,168,400 / US $1,404,884). Additional notable results included a Cartier Lantern Clock in nephrite with royal provenance (HK $9,144,000 / US $1,167,689) and the J. Player & Sons ‘Hyper Complication’ Pocket Watch (CHF 2,238,000 / US $2,780,715).

Phillips Perpetual and Private Sales – 2025 Highlights

• Phillips Perpetual and Private Sales achieved a combined total of US $80 million in 2025, with 240 watches sold globally, reflecting continued growth across retail and private channels.
   
• 42% of Perpetual buyers were new to Phillips, demonstrating the platform’s appeal to a new generation of collectors.
   
• The Hong Kong Perpetual boutique recorded a 150% year-on-year increase in sales value, marking a standout performance within Phillips’ global retail network.
   
• Phillips launched a new Perpetual website in 2025, alongside enhanced digital integration for its Hong Kong and Gstaad boutiques. Since launch, the platform has welcomed over 40,000 visitors and generated more than 9,000 new subscribers.
   
• The Gstaad Palace Perpetual boutique underwent a complete refurbishment, unveiling an elegant Alpine-inspired interior.
   
• Curated exhibitions such as Independent Spirit in London—featuring Raúl Pagès, Theo Auffret, Konstantin Chaykin, Charles Frodsham & Co., and David Candaux—further expanded Perpetual’s reach.
   
• Notable Perpetual sales included one of the ten stainless-steel F.P. Journe Grande Sonnerie wristwatches, a Patek Philippe Ref. 6002R in rose gold, a complete set of stainless-steel F.P. Journe wristwatches, and a Patek Philippe Ref. 5374P
   

For more information visit Phillips official website.