The New York Watch Auction: XIII – A Milestone Event in Horology

The New York Watch Auction: XIII created waves this past Sunday, achieving the title of the highest-grossing watch auction in history. This landmark event was notably marked by the sale of filmmaker Francis Ford Coppola’s custom watch, a piece that captivated collectors and enthusiasts alike.

A Celebration of Ten Years

This auction also commemorated the tenth anniversary of Phillips in association with Bacs & Russo, emphasizing their dominance in the auction market. The festive occasion not only highlighted their expertise but also extended Phillips’ impressive streak to five consecutive years of 100 percent-sold “white glove” live auctions in New York, showcasing their commitment to delivering exceptional experiences for both buyers and sellers.

The Star of the Show: Coppola’s Custom Watch

At the heart of the auction was Coppola’s one-of-a-kind F.P. Journe FFC Prototype. This extraordinary piece fetched an astonishing $10.8 million, bought by an anonymous bidder on the phone, setting a new auction record for F.P. Journe. This sale also established a new benchmark for watches crafted by independent watchmakers, a reflection of Coppola’s exquisite taste and the high esteem in which he is held in the world of horology.

Enthusiastic Collector Response

Paul Boutros, deputy chairman and head of watches in the Americas, alongside Isabella Proia, head of sale and senior international specialist, expressed their delight in a joint statement: “With over 2,000 registered bidders, we proudly closed Phillips in Association with Bacs & Russo’s 10th anniversary year on an incredibly high note.” This enthusiasm was evident as collectors vied for Coppola’s personal timepieces, contributing to stellar results for all seven watches consigned by the Hollywood icon. Highlights included the Chronomètre à Résonance ‘FFC,’ which sold for $584,500, and a no-reserve Breguet that astonishingly sold for 15 times its low estimate.

A Broader Market Perspective

The auction’s success also underscored the growing appetite for exceptional watches among collectors. Boutros and Proia noted that “extraordinary prices for Philippe Dufour’s Duality and Simplicity No. 01, as well as rare examples from Rolex, Patek Philippe, and Omega” reaffirmed the strength of the global market for distinguished timepieces. Their insights pointed to an overarching trend: buyers are increasingly drawn to watches with both rarity and provenance, making auctions like this one crucial events for the industry.

Day One Momentum

The auction commenced with strong momentum, especially for J.P. Journe and Philippe Dufour, who secured nine of the top ten lots on the first day. This foundation of excitement carried through to the next day, culminating in the $3.7 million sale of the Chronomètre à Résonance “Sincere Fine Watches,” complete with a striking black mother-of-pearl dial that drew significant interest.

Rare Treasures on Display

Phillips also showcased a matching pair of timepieces crafted by Philippe Dufour, featuring his renowned Duality and Simplicity models. These pieces, which sold for more than $3 million and $1.2 million respectively, further elevated the event’s profile, attracting serious collectors intent on acquiring unique representations of fine watchmaking.

Each lot in The New York Watch Auction: XIII not only highlighted individual craftsmanship and artistry but also painted a broader picture of the evolving landscape of watch collecting, making this event one for the history books.