The Geneva auction of timepieces set a record.
An extremely rare FP Journe Platinum Tourbillon Souverain, Ref. T, sold for $3.1 million (five times its low estimate). And a 1990 Cartier Crash London watch surpassed $2 million, tripling its pre-auction low estimate and setting a new world auction record for this model. These are two of the results of Christie’s rare watches live auction held in Geneva, which achieved $42.3 million, the highest result ever recorded for an auction of the Maison’s timepieces. This was evidenced by the 99% sell-through rate and an average price 188% above the low estimate. Furthermore, 60% of the lots sold for more than their high estimate.
The auction was a resounding success, with bidders from around the world bidding in the room, by phone, and online: 44% of clients came from EMEA, 19% from Asia-Pacific, and 28% from the United States. Thirty percent of bidders and buyers were new to Christie’s.
For the first time, Christie’s Geneva presented its Rare Watches auction on two consecutive days, demonstrating the continued trust that clients place in our global watch team. With a 99% sell-through rate, the auction successfully attracted an international clientele, with 30% of participants experiencing our collectibles category for the first time. We were thrilled to set new world auction records for a vintage Audemars Piguet chronograph, which fetched $2.7 million, and for a 1990 Cartier Crash London, which fetched $2 million, surpassing the auction record set for the model earlier this spring. Collectors demonstrated exceptional enthusiasm throughout the auction, reaffirming the global demand for extraordinary timepieces and the enduring strength of the watch market.
Remi Guillemin, Head of Watch for Europe and the Americas
Among the other highlights of the auction, a Patek Philippe Nautilus Ref. 5711/1A-018 in Tiffany Blue sold for $1.6 million. The model was created in 2021 to celebrate the 170th anniversary of the collaboration between Tiffany & Co. and Patek Philippe, in a limited edition of just 170 pieces. Another Patek Philippe, Ref. 3970EP-047, featuring a stunning black monogram dial, was commissioned by American collector Michael Steven Ovitz and fetched $1.3 million. An A. Lange & Söhne Tourbillon Pour le Mérite Ref. 701.005, a limited edition of 200 pieces, sold for $975,360. Other watches offered at auction included a Lange 1 Tourbillon, the first wristwatch in history to combine a tourbillon with a progressive power reserve indicator, which sold for $926,592.
Additionally, a limited edition stainless steel double-sided tourbillon wristwatch by Daniel Roth, circa 1990, with date and power reserve indication, sold for 520,192, and a limited edition stainless steel wristwatch by Krayon, featuring an attractive and innovative design, with date, month, 24-hour and sunrise/sunset indication, Ref. c030, reached 203,200.
