Results From the Geneva Spring Auctions
Independent brands, standout designs, and rare complications dominate the Swiss auctions
An Italian version of this article is also available on the Orologi “Le Misure del Tempo” website, at this link link.
The 2025 spring auction season in Geneva has recently concluded, offering some valuable insights into the state of the watch market. The four major houses, Christie’s, Phillips, Antiquorum, and Sotheby’s, achieved substantial combined totals.
Christie’s closed at €21.2 million, up 3.3% from its initial estimates, validating the strength of its thematic “Stories in Time” catalogue. Phillips topped the season, achieving CHF 43.4 million across roughly 200 lots, thanks to a sharp selection and the sale of some of the most important timepieces. Antiquorum, working with a much larger volume, nearly 800 lots, totaled CHF 10 million. Its catalogue was more accessible and diverse but still included surprises, such as the Breguet Pendule à Almanach, which sold for CHF 1.25 million. Sotheby’s closed at CHF 6.75 million, a figure negatively impacted by the last-minute withdrawal of its top lot: a rare Rolex Daytona Zenith with a mother-of-pearl dial, which could have significantly boosted the overall results.
Cartier
One of the most talked-about pieces was the Cartier Crash sold at Christie’s, a true icon of the maison. This example is likely a one-off, produced through Cartier’s New Special Order program, which allows loyal clients to customize materials and design elements, within strict limits. In this case, the buyer chose a white gold case paired with a grey galvanic dial, called “Nickelé,” featuring warm-toned Roman numerals in a dramatic “exploded” layout. The original design, dated May 6, 2021, required over 10 months of production.
The watch hammered for CHF 756,000, far exceeding the initial estimate of CHF 150,000 – CHF 250,000, confirming that the Crash remains one of the most sought-after models in today’s market.
F.P. Journe
The top lot of the weekend, however, was the Breguet Sympathique No. 1, which sold for over USD 6 million. Made in 1991 by F.P. Journe on behalf of Breguet, this clock was inspired by an 18th-century invention by Abraham-Louis Breguet: a table clock capable of automatically winding and synchronizing an attached pocket watch. Interestingly, on the eve of the auction, Journe announced he would not service the piece, yet he ultimately purchased it himself, planning to place it in the brand’s museum.
Another notable Journe was the Tourbillon Souverain “Ruby Heart,” featuring a natural red stone dial. This watch impressed both aesthetically and technically, attracting the attention of discerning collectors due to its extreme rarity, limited to just 20 pieces. It sold for CHF 1,633,000, well above the initial estimate of CHF 250,000 – 500,000.
Daniel Roth
Also worth highlighting was the performance of the Daniel Roth Ref. 608.Y.60, a standout from Phillips. Reflecting the renewed interest in independent watchmaking from the 1990s, this watch performed exceptionally well, fetching CHF 209,550 against a pre-sale estimate of CHF 70,000 – 140,000.
Most of the Daniel Roth watches at Phillips sold well above their initial estimates, underscoring the growing appreciation for the brand in recent years, helped in part by its LVMH-led rebranding.
Final Thoughts
The recent auction results reflect a market that continues to reward quality, rarity, and compelling storytelling. Record-breaking results are now concentrated among a few truly iconic pieces. Independent brands, unconventional designs, and historically important complications are increasingly finding their place in the spotlight.
