43 World Records Set at Phillips’ Geneva Watch Auction XXIII

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Summary

  • Phillips achieved the highest-grossing watch auction ever, totaling nearly $96.3 million USD
  • The historic sale established 43 world records and saw 14 watches exceed $1 million CHF
  • A Patek Philippe world-timer led the auction, realizing at 7.9 million CHF (approx. $ 10.2 million USD)

Phillips set a new record for watch auctions this weekend with its Geneva Watch Auction: XXIII. The two-day event at the Hotel President in Geneva brought in a total of 74.8 million Swiss francs (about $96.3 million USD), making it the highest-grossing watch auction ever. With almost every item sold – 224 out of 225 lots – the auction demonstrated the strong demand for watches around the world.

The auction was remarkable, breaking 43 world records and seeing enthusiastic bidding in every category. The highlight was an incredibly rare Patek Philippe Ref. 2523 “South America” World Timer, which sold for 7.9 million Swiss francs (around $10.2 million USD) – a new world record for that model.

Man, the auction was insane! Some seriously high bids went down. There was this F.P. Journe watch, the Chronomètre à Résonance, that sold for almost $6.3 million! And this Louis Richard tourbillon thing? Nearly $5.1 million! It just shows how much people want those super rare Patek Philippes, but also how much they appreciate when smaller, independent watchmakers really innovate and build something technically amazing.

Several independent watchmakers also stood out at the auction. An Akrivia AK‑06 in stainless steel sold for 3 million Swiss francs (about $3.86 million), a new high for Rexhep Rexhepi. Additionally, a collaborative piece from Greubel Forsey, the Naissance d’une Montre No.1/11, reached 1.65 million Swiss francs (approximately $2.12 million).

Aurel Bacs and Livia Russo, leading watch consultants, highlighted that watch auctions are now considered just as prestigious as auctions for fine art, jewelry, and classic cars. The recent Geneva Watch Auction: XXIII, featuring 14 watches selling for over 1 million Swiss francs and strong interest in both old and new timepieces, proved the market is thriving and buyers are seeking exceptional quality and skilled artistry.

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2026-05-11 12:57