Phillips – The New York Watch Auction: XIII Achieves $43.5 Million, The Highest Total For A Watch Auction In Us History

The New York Watch Auction: XIII concluded the tenth anniversary year for Phillips in Association with Bacs & Russo on an extraordinary note, realizing an impressive $43.5 million, achieving a 100% sell-through rate by lot and value, selling seven lots over $1 million, and setting a new record total for any watch auction in US history. This incredible milestone also extends Phillips Watches’ streak to five consecutive years of  100%-sold ‘white glove’ live auctions in New York, underscoring the team’s unrivaled command of the market.

Leading the auction was Francis Ford Coppola’s unique FFC prototype, one of the most important watches to ever be offered at auction. The incredible timepiece is a direct result of the collaboration between two of the greatest minds in cinematic and horological history, and it is the first watch to ever display the time with the use of a single human hand. After eleven minutes of bidding from across the globe, the wristwatch eventually sold for $10.8 million to an anonymous bidder on the phone. The sale marks a new world auction record for F.P.Journe and a new world auction record for a watch by an independent watchmaker. The result also represents the highest result for a timepiece sold at auction in the United States since Phillips’ sale of Paul Newman’s Rolex “Paul Newman” Daytona in 2017.

Paul Boutros, Deputy Chairman and Head of Watches, Americas, and Isabella Proia, Head of Sale and Senior International Specialist, jointly said, “With over 2,000 registered bidders, we proudly closed Phillips in Association with Bacs & Russo’s 10th anniversary year on an incredibly high note. Collectors responded enthusiastically to the opportunity to acquire Francis Ford Coppola’s personal timepieces, achieving stellar results for all seven watches consigned by the Hollywood icon. From the record-breaking FFC Prototype, to the Chronomètre à Résonance “FFC” that soared to $584,500, to the no reserve Breguet that sold for 15 times its low estimate, it is clear that the admiration for Mr. Coppola and his taste in watches cannot be overstated. We are honored to have been entrusted with his collection. These successes, alongside extraordinary prices for Philippe Dufour’s Duality and Simplicity No. 01, as well as rare examples from Rolex, Patek Philippe, and Omega, reaffirm the strength and depth of the global market for exceptional watches. The remarkable results of The New York Watch Auction: XIII reflect not only the unprecedented demand for rarity and provenance, but also the tireless dedication of our team, whose expertise and passion continue to set the benchmark for excellence.” 

Independent watchmakers kicked off the auction to great fervor with examples by SpaceOne and J.N. Shapiro seeing an extraordinary response. Independents continued to command the sale, with F.P.Journe and Philippe Dufour ultimately securing nine of the top ten lots. The momentum achieved for F.P.Journe on Day One of the sale continued with strength into Day Two, with the Chronomètre à Résonance “Sincere Fine Watches” with the black mother-of-pearl dial realizing $3.7 million, over 10 times its low estimate after over ten minutes of bidding from across the globe. Produced as part of a limited series for the 50th anniversary of Singaporean retailer Sincere Fine Watches, only 10 examples of the Résonance were made in this configuration. Both the Chronomètre à Résonance “Souscription No. 17” and the Octa Chronographe “Souscription No. 19” skyrocketed past their estimates, as well, achieving $2,843,000 and $1,572,500, respectively.

Phillips was proud to present an incredible, matching pair of timepieces made by one of the greatest independent watchmakers of the past century, Philippe Dufour. The sale of his Duality and Simplicity models, both with the extraordinary serial number of 01, represented a remarkable opportunity for collectors. The market responded enthusiastically to the pair, with the Duality achieving over $3 million and the Simplicity realizing $1.2 million.

Top Ten Lots