Phillips Breaks the US$100 Million Barrier With Geneva Watch Auction XXIV

No live watch auction had ever passed US$100 million until this weekend. Phillips in Association with Bacs & Russo’s The Geneva Watch Auction: XXIV, held on 7 and 8 November 2026 at the Hotel President, totalled CHF 92,045,568, or US$112.3 million. That is the highest result in watch auction history.

The sale offered only 217 lots, and every one sold. That puts the average per lot above US$500,000. A total of 2,121 registered bidders from 69 countries competed in the room, online and by phone. The result also beat the record Phillips set just six months earlier.

The Key Numbers

• Sale total: CHF 92.0 million / US$ 112.3 million / € 100.8 million.
• Sold: 217 of 217 lots, a 100% white-glove result.
• World records: 24.
• Lots above CHF 1 million: 17.

Aurel Bacs on Watches and “Mount Olympus”

Phillips Senior Consultant Aurel Bacs used the moment to credit his team. He said the global watch department has been described by many collectors and by the press as one of the best ambassadors the community of watchmakers and collectors could have hoped for. He added that this feedback “touches our hearts” and pushes the team to strive for the best outcome every season.

Bacs also looked back on his own start: “As a twelve-year-old boy discovering vintage watches, I never imagined we would go from a few francs to hundreds, to thousands, to hundreds of thousands, and to millions. But the love and passion, and the respect for the watchmakers and collectors, were always there. I always believed that watches deserved a place on the Mount Olympus of collecting.“

“A Celebration” of the Market

Alexandre Ghotbi, Deputy Chairman and Head of Watches, Europe and Middle East, and Tiffany To, Senior International Watch Specialist and Head of Sale, framed the result as more than a number. They said: “To achieve the first ever $100 million watch auction is an extraordinary milestone. But beyond the numbers, it is really a celebration. A celebration of the strength and vitality of the market, and of the exceptional auction we have had the privilege of putting together. It is a testament to the impeccable quality of the watches, the remarkable diversity of the collection, and, above all, the trust placed in us by our consignors and buyers. Ultimately, it is this trust, alongside the passion and dedication of our team, that makes milestones like this possible.“

The Top Results

F.P. Journe

Journe was again the sale’s driving force. Thirteen watches together made CHF 31.8 million (US$ 38.8 million). The top lot was the platinum Chronomètre à Résonance “Régence” at CHF 8,680,500 (US$ 10.6 million), the only example with a shiny pink gold hand-engraved dial. It is the fifth consecutive Phillips live auction with a watch above US$10 million.

Other Journe results:

• Tokyo Boutique Chronomètre à Résonance: CHF 6,146,000.
• Diamond-set Vagabondage III: CHF 5,057,000.
• Pre-Production Chronomètre à Résonance No. 022/99R: CHF 4,936,000.
• Tourbillon Souverain: CHF 2,092,500.
• Harry Winston Opus One Tourbillon, made with Journe: CHF 1,397,000, a record for the Opus series.

Patek Philippe

The stainless-steel Ref. 1436 split-seconds chronograph made CHF 6,267,000 (US$ 7.6 million), a world record for any split-seconds chronograph. It is one of only two known examples to keep its original steel case and dial. The steel Ref. 530 Calatrava with applied Breguet numerals and the yellow gold Ref. 1518 perpetual calendar chronograph each made CHF 1,117,600. The asymmetric Ref. 3424 “Gilbert Albert” reached CHF 736,600.

Cartier

The Portico Mystery Clock No. 4 sold for CHF 4,815,000 (US$ 5.9 million), a new auction record for any Cartier timepiece. Made in 1924, it is one of only six Porticos and the only one with a hexagonal rock-crystal dial. This was its first auction appearance since 1996.

Rolex and the Pucci Papaleo Collection

The newly discovered yellow gold Ref. 6062 “Stelline”, acquired from its original owner in Japan, made CHF 2,334,500. The Ref. 6241 Daytona “John Player Special” in 14k yellow gold reached CHF 1,905,000.

Part I of the Pucci Papaleo Collection of Rolex Chronographs made CHF 3,784,600 across 15 watches. Its top lot was the square Ref. 3830 “Verga” at CHF 1,270,000, a world record for a non-Oyster Rolex chronograph. It was the watch’s first auction appearance since 2004. The Ref. 6239 Daytona with the “Paul Newman Musketeer” dial made CHF 406,400, and the pink gold Ref. 3335 made CHF 355,600.

Independents and Pocket Watches

Independent makers did well across generations:

• Philippe Dufour’s platinum Simplicity: CHF 1,968,500.
• Voutilainen’s unique tantalum Vingt-8 Inversé: CHF 1,524,000, a record for the reference.
• Roger Smith’s unique two-tone Series 1: CHF 914,400.
• Sylvain Pinaud’s Origine No. 2: CHF 609,600, over five times its high estimate, sold to an online bidder.

Pocket watches also drew strong bids:

• Richard Miklosch’s silver flying tourbillon with detent escapement: CHF 762,000.
• Patek Philippe Ref. 605 “North America” world-time pocket watch with a cloisonné enamel dial: CHF 762,000.
• Jürgen Kuhls’s circa 1935 flying tourbillon school watch: CHF 431,800.

Lots Above CHF 1 Million

Prices include buyer’s premium. Estimates do not. The exchange rate on 7–8 November was CHF 1 = US$ 1.2198 / € 1.0949.

Full results are on the Phillips auction page.