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Phillips’ Geneva Watch Auction Broke 24 Records and the $100M Threshold

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Phillips’ Geneva Watch Auction Broke 24 Records and the $100M Threshold

In the $112.3 million total were an F.P.Journe watch that broke the $10 million barrier and a Cartier Portico Mystery clock at $5.9 million that set the highest price for any of Cartier timekeepers.

HAMMER SMASH: Phillips’ Geneva’s watch auction has become the first live watch sale to surpass $100 million.

Over two days, the “Geneva Watch Auction XXIV” brought in 92 million Swiss francs, or $112.3 million at current exchange rates, with all 217 lots sold. It broke the auction house’s previous record set only six months ago.

With 2,121 registered bidders from 69 countries, 17 timepieces sold for more than 1 million Swiss francs and 24 world records were broken.

Most notably, an F.P.Journe platinum Chronomètre à Résonance “Régence” with a hand-engraved pink gold dial sold for 8.68 million Swiss francs, or about $10.6 million. In addition to setting a record for the watchmaker, it also marked the fifth consecutive Phillips live auction to sell a watch for more than $10 million.

Journe’s 13 watches under the hammer brought a total of 31.8 million Swiss francs, or $38.7 million, including record setters such as a Tokyo Boutique Résonance that went for more than $7 million and a diamond-set Vagabondage III for more than $6 million.

Cartier also broke a record with its 1924 Portico Mystery Clock No. 4, one of six Portico clocks and the only with a hexagonal rock-crystal dial. 9 million, setting a world record for any of Cartier’s timepieces.



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