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Every so often, emails about ongoing watch auctions around the world land in my inbox, courtesy of the top international auction houses. The most recent update concerned the outstanding performance of Phillips, in Association with Bacs & Russo—and the results are, quite frankly, remarkable. According to the data, during the Spring 2025 season, Phillips conducted six major auctions across three continents, sold at least 800 timepieces, and reached a total of $113.8 million in sales. This figure put the house more than $40 million ahead of its nearest competitor.
It’s worth noting that Phillips not only achieved the highest overall sales total but also sold the greatest number of watches surpassing the $1 million mark. Additionally, they recorded the highest sell-through rate of all auction houses this season.
Phillips sold 11 watches above the $1 million threshold—more than any other auction house. The average lot value came to $135,500, while for the three live auctions held in Geneva, Hong Kong, and New York, the average rose to $178,000—the highest in the market.
Phillips’ success was truly global: its auctions drew bidders from over 80 countries, with more than 2,000 unique participants. Of all buyers this season, 35% were new clients, while 30% belonged to the millennial and Gen Z generations. Notably, 85% of participants placed their bids online.
Highlights from Phillips’ Spring 2025 Watch Auctions
A 1991 table clock, sold in Geneva for $6.6 million—a world record for a modern Sympathique timepiece.
· A 1924 clock sold for $4.7 million, achieving a world record for any Cartier timepiece.
A possibly unique, platinum Patek Philippe Perpetual Calendar Chronograph ref. 5970P-013 from circa 2011 was the top lot of the Hong Kong live auction, achieving $1.3 million.
A jade-illuminated clock from 1925 with confirmed royal provenance, sold for $1.17 million, over 850% above its low estimate.
A rare yellow gold perpetual calendar chronograph, sold in New York for $1.45 million.
A rare piece in exceptional condition, also sold for over $1 million in New York.
With these results, Phillips secured 45% of the global market share in the Spring 2025 watch auction season, underlining both its market strength and the profound trust collectors place in its curatorial and technical expertise. At the heart of Phillips’ rise in the world of collectible watches stands Aurel Bacs, the house’s leading auctioneer and senior consultant—a prominent figure widely respected by watch aficionados around the world.
As Bacs stated: “This season was a striking demonstration of strength – not just in the market, but in the collecting community itself. Our clients showed remarkable appetite across categories, and once again, Phillips set the pace. We saw million-dollar bids for watches by independent makers, fierce competition for rare clocks and pocket watches, and consistently high results for vintage Patek Philippe, Rolex, and Vacheron Constantin. These results confirm what we’ve believed for some time: collectors are ready to go deeper, and Phillips is leading the way.”
