Phillips’ watch department beats itself: there is a new, more expensive Patek Philippe
At 14,190,000 Swiss francs, or the equivalent of $17,631,075, a Patek Philippe 1518 in stainless steel became the most expensive ever for its brand on the evening of Sunday, November 9, 2025, in Geneva. The price was set by Aurel Bacs, who, during the highly anticipated Decade One (2015-2025) auction, recorded bids that lasted for 9 minutes and 28 seconds, until the new record was reached. The first record was set by the same Phillips watch department in association with Bacs and Russo in 2016: in that case, the price reached was 11,002,000 francs. It would be eclipsed just one year later by Paul Newman’s now legendary Rolex Daytona, which sold for $17.9 million.
Patek Philippe Perpetual Calendar Chronograph ref. 1518 in stainless steel. World record for a Patek Philippe wristwatch, $17,631,075
Needless to say, the auction celebrating the first decade of Phillips Watches – which lasted two days, on November 8 and 9, 2025 – was sold out, totaling 66,815,725 Swiss francs / $83,018,538 / €71,753,407. This is the highest amount ever achieved by a watch auction, with Phillips Watches now holding the record for the three highest-grossing auctions ever.
The numbers
The 1,886 bidders came from 72 countries. Nearly 800 collectors and enthusiasts attended the event in person. The average value per lot was 322,000 Swiss francs; 12 watches exceeded one million francs each.
The department’s specialists attribute this success to the community that Phillips Watches has built over the past ten years: “Phillips has become much more than an auction platform: it is a true meeting place for collectors, enthusiasts, and friends from all over the world. It is a place where knowledge is exchanged, stories are told, and understanding of the art of watchmaking is deepened,“ said Alexandre Ghotbi, Vice President & Head of Watches for Europe and the Middle East, and Tiffany To, Senior International Watch Specialist and Head of Sales, noting that watches are linked to ”people, memories, and emotions” and that “these results are a tribute to that community spirit—to the trust, curiosity, and passion that unite us all.”
The other Patek Philippe watches in the “Decade One” auction
Another exceptional result for Patek Philippe was achieved by the Ref. 1518 “pink-on-pink” from 1947, one of only about 15 known examples, which sold for 3,569,000 francs.
A Perpetual Calendar Ref. 2438/1 from 1954 in 18k yellow gold with a luminescent dial, probably unique, fetched 889,000 Swiss francs, a world record for this reference in yellow gold.
The Ernst Schuster Collection, consisting of 16 Patek Philippe watches in the catalog, achieved extraordinary results, totaling 3,373,930 francs, almost four times the minimum pre-auction estimate. The highlight, a 1983 Patek Philippe Perpetual Calendar Chronograph Ref. 2499/100 in 18k yellow gold, signed “Gübelin” on the dial, sold for 1,330,500 francs.
Another important lot in the collection, a 1961 Patek Philippe Ref. 3424/1 in platinum with a diamond-set bezel, designed by Gilbert Albert, sold for 812,800 francs, a world record for a wristwatch designed by Albert.
Rolex watches that fetched more than a million Swiss francs (and dollars)
Among the notable Rolex results, a 1967 Daytona “Paul Newman” Ref. 6239 “Golden Pagoda” in 18k yellow gold with a champagne dial sold for 1,079,500 Swiss francs, a world record for this configuration.
A 1971 stainless steel Daytona Ref. 6263 “Paul Newman, Oyster Sub” fetched 1,391,000 francs. A Day-Date “Rainbow” Ref. 18059 “Red Khanjar” from around 1985, originally sold to Sultan Qaboos bin Said Al Said of Oman, fetched 1,079,500 francs.
Another Rolex set with gems and sold to the Sultan, the Daytona Ref. 6269 with “Red Khanjar” engraving on the case back, attracted considerable interest, fetching 1,378,900 Swiss francs.
Independent watches
Independent watchmaking also played a leading role at Decade One, with the Ferdinand Berthoud “Naissance d’Une Montre 3,” a recently completed unique piece, selling for $1,270,000, a world record for the brand at auction. The result marks the conclusion of a multi-year educational project dedicated to the preservation of traditional craft techniques, with a portion of the proceeds going to a foundation that promotes these skills for future generations.
The F.P.Journe Chronomètre à Résonance Souscription No. 2 from 2000 fetched 3,327,000 francs, while the F.P.Journe Tourbillon Souverain TN “Régence Circulaire” from 2019 in 18k rose gold with an engraved rose gold dial fetched 1,693,500 francs, the highest price ever achieved by a Tourbillon Souverain TN at auction.
A Christian Klings Tourbillon No. 7 from around 2006 sold for 889,000 francs, a world record for a Klings watch.
Among other highlights, a one-of-a-kind platinum Urban Jürgensen Minute Repeating Perpetual Calendar Tourbillon sold for 635,000 francs, a world record for an Urban Jürgensen wristwatch.
A unique prototype Vacheron Constantin Saltarello Ref. 43041 from around 1995, offered by the watchmaker who developed the model, fetched 120,650 francs. A Seiko Astronomical Observatory Chronometer Ref. 4520-8020 from around 1970 in 18k yellow gold, exceptionally well preserved, fetched 101,600 Swiss francs.
In addition to the most expensive Patek Philippe ever, pieces from the history of watchmaking
The catalog also featured extraordinary pocket watches and clocks, a tribute to the history of watchmaking. The Louis Berthoud No. 52 Marine Chronometer, made for Napoleon Bonaparte around 1801, sold for 406,400 francs.
The monumental J. Player & Son “Hyper-Complication” from 1907 fetched 2,238,000 francs, a world record for an antique English pocket watch.
The first Mystery Clock Cartier Model A, formerly owned by John Pierpont Morgan Jr. in 1913, fetched 698,500 francs.
Celebrating the decade that built a community of enthusiasts
“What an incredible way to celebrate our tenth anniversary, with a white glove auction that reached 66.8 million Swiss francs,” added Aurel Bacs and Livia Russo, senior consultants at Phillips. “Rarely have we felt such support, from the start of the season to the final hammer blow. Our global community knows it can count on us to find exceptional watches and achieve extraordinary results. We would like to thank everyone who has helped us build this community over the past ten years: current and former colleagues, the management and shareholders of Phillips, and countless collectors, manufacturers, brands, scholars, consultants, authors, museums, dealers, and media outlets. As always, we welcome and enthusiastically embrace watch enthusiasts from around the world who, like us, dream of watches.”
