Highlights From the Phillips Auction: Record-Breaking Sales and Iconic Timepieces
Phillips' thematic auction celebrated neo-vintage with remarkable results: Rolex Daytona and masterpieces by F.P. Journe, Gerald Genta, and Daniel Roth underscoring growing interest for this niche
The highly anticipated Phillips thematic auction kicked off on Friday, November 8th, focusing on “neo-vintage” timepieces. This term has gained traction in the world of horology to describe watches from the 1980s to 1999, a period marked by the revival of mechanical watchmaking after the quartz crisis. Neo-vintage watches are often considered too recent to be vintage, but old enough to be seen as distinct from contemporary pieces. This era represents a pivotal moment in horological history, characterized by technological innovation and a renewed interest in mechanical craftsmanship. The period produced audacious designs that have recently been rediscovered by collectors, driving a surge in secondary market prices. Responding to this renewed enthusiasm, Phillips dedicated an entire auction to this niche, featuring some truly remarkable pieces.
Rolex Daytona 16599SAAEC
Undoubtedly the most anticipated lot of the auction was the Rolex Daytona 16599SAAEC, the first-ever rainbow model from the brand. As many had expected, this timepiece exceeded its initial estimate of CHF 3,000,000, ultimately fetching CHF 5,505,000. This price makes it the third-most expensive Rolex ever sold at auction, just behind the legendary Paul Newman Daytona, which was sold by Phillips in New York for CHF 17,752,500 and the Daytona 6265 "The Unicorn" sold by Phillips for CHF 5,937,500 in 2018.
F.P. Journe Tourbillon à Remontoire d'Egalité
Despite the importance of the Daytona, the F.P. Journe Tourbillon à Remontoire d'Egalité stole the spotlight by achieving a record-breaking CHF 7,320,000, far surpassing its initial estimate of CHF 2,000,000.
The timepiece holds a significant place in F.P. Journe’s career as it is the second wristwatch ever created by the master watchmaker, and the first he ever sold. In 1991, Journe, who had only created pocket watches until then, decided to design a wristwatch with a tourbillon, adding a remontoire to improve its precision. The first prototype was worn by Journe himself and is part of his private collection. Two identical examples were then made in 1993, including the present example with the 15/93 engraving and another with the 16/93.
Entirely handcrafted by Journe himself, this watch stands as one of only three wristwatches he has ever made entirely by hand, elevating its collectability to stratospheric levels.
Audemars Piguet Starwheel Ref. 25881 and 25720/002
As we discussed last week, the Starwheel complication, reintroduced in November 2022 for the Code 11.59, has gained significant attention in the secondary market. The reference 25720 is one of the few models in the collection traded above retail price.
This complication is also featured in two lots at the auction: the Ref. 25881 and Ref. 25720/002. Both models, inspired by a 17th-century mechanism created by the Campani brothers for Pope Alexander VII, use rotating discs to indicate the time in a discreet and captivating manner.
In 1991, Audemars Piguet revived this unique mechanism, reintroducing it with the 25720. The example sold by Phillips is from 1995 and features a platinum case with floral engravings. In 1995, just one year before the complication was discontinued, Audemars Piguet launched the 25881, which is particularly innovative due to its art deco-inspired cushion-shaped case, a nod to a 1923 creation by the brand for John Schaeffer, vice president of Allied Chemical and Dye Corporation.
Ref. 25881 sold for CHF 106,680, 184.48% over the initial estimate which was CHF 25,000-50,000. Ref. 25720/002 was hammered for CHF 44,450, 122.25% of the initial high estimate which was CHF 15,000- CHF 25,000.
Gerald Genta and Daniel Roth
No thematic auction focused on neo-vintage timepieces would be complete without Gerald Genta and Daniel Roth, two iconic brands from this period.
As we’ve mentioned previously, the current resurgence of interest in these watchmakers has brought them back into the spotlight, thanks in part to the significant efforts of the Arnault family.
The auction featured five Daniel Roth watches, three of which sold for prices exceeding their initial estimates. The standout piece was a unique model, pictured here, which attracted considerable attention.
Daniel Roth made a name for himself in horology with his distinctive style, featuring the ellipsocurvex case, pointed hands, and guilloché dials. Although he created many classic complications, minute repeaters remain a rare feature in his works. In 1995, Roth presented three unique minute repeaters in white, yellow, and pink gold, based on the ultra-thin Lemania 369 caliber. He later introduced another set of three pieces, this time with a sub-dial for seconds at 6 o’clock, based on the Gérald Genta 13000 caliber. The piece pictured here sold for CHF 152,400, far exceeding its estimated range of CHF 70,000 - 140,000.
As for Gérald Genta, three models were presented at auction, with the standout being the GGM1.
The Grande Sonnerie, introduced in 1994 and presumably created for the Sultan of Brunei, is the second wristwatch after the Dufour to feature this complication. The model in question has many unique characteristics, including a dial made of yttrium, a rare earth metal. In addition to the Grande Sonnerie, the watch also features a minute repeater with Westminster chimes on four gongs and a tourbillon. The 31000 caliber, a masterpiece of horological engineering, integrates these complications within a 38mm case, an extraordinary feat, with over 1,000 components meticulously decorated. As one of the very few Grande Sonnerie watches produced in the 1990s, this timepiece sold for CHF 152,400.
The results of the auction highlight its tremendous success, with all 65 lots being sold. The Total Estimated Price, the sum of all estimated values, amounted to CHF 12,455,500, while the Total Sale Price, the sum of all final hammer prices, reached CHF 24,865,315, an astounding 99.63% increase over the initial estimates. You can find the full recap of the auction here.
