F.P.Journe platinum Tourbillon Souverain Ref. T sold for more than $3.1 million, double its high estimate
Christie’s
Christie’s Rare Watches live auction in Geneva totaled more than $42.3 million Tuesday, marking the highest result for any various-owner watch auction in Christie’s history. Held May 11 and 12 at the Four Seasons Hotel des Bergues, the 228-lot sale achieved a 99% sell-through rate by lot and exceeded its low estimate by 188%, with 60% of lots selling above their high estimates, according to Christie’s.
“We really worked in curating this auction and offering watches from private collectors that would surprise clients,” Rémi Guillemin, Christie’s head of Watches Europe & Americas, said Wednesday. “We were extremely fortunate to have such a diverse selection of wristwatches, from independent watchmakers to more mainstream brands.”
The top three lots delivered standout results.
Leading the sale was an F.P.Journe platinum Tourbillon Souverain Reference T (top photo), which sold for more than $3.1 million, more than double its high estimate. The 38mm model was introduced at Baselworld in 1999 and purchased in 2000.
Audemars Piguet, cushion shaped single-button chronograph, circa 1930 fetched a record $2.7 million
Christie’s
The second-highest lot was a circa 1930 Audemars Piguet single-button “Coussin Tortue” chronograph wristwatch, model no. 41,849, which achieved more than $2.7 million, setting an auction record for a vintage Audemars Piguet chronograph wristwatch. Bidding lasted more than 10 minutes, with the watch ultimately sold to a telephone bidder represented by Guillemin. The piece realized more than five times its high estimate.
“We were fortunate to offer a beautiful Audemars Piguet that was one of only two examples known to exist out of three produced,” Guillemin said.
The watch was consigned by third-generation descendants of the original owner. Originally purchased on Christmas Eve in 1935, it had remained in the family for more than 90 years, Christie’s said.
According to Christie’s research, Audemars Piguet began producing movements for its first chronograph wristwatches in 1930. Although six movements were made, only three chronographs were recorded and just two examples are known to survive today. Between 1930 and the early 1980s, the brand produced only 307 chronograph wristwatches.
1990 Cartier Crash London sold for a record $2 million
Christie’s
The third-highest lot was a 1990 Cartier Crash London, which sold for $2 million and established a new auction record for the model. The watch featured a distressed yellow-gold case and matching “Crash” deployant clasp, both signed Cartier London.
It was one of two Cartier Crash models offered in the sale. The second watch was made in Paris at a time when the two Cartier branches operated independently. Guillemin said collectors recognize the distinctions between London and Paris-made examples.
“Clients today completely understand the importance of a Crash made in London versus one made in Paris, even though there’s just a one-year difference,” he said. “They understand the scarcity of the timepiece and the fact that the wristwatches are different.”
Tiffany Blue Patek Philippe Nautilus Ref. 5711/1A-018, fetched more than $1.6 million
Christie’s
The fourth highest lot was a Tiffany Blue Patek Philippe Nautilus Ref. 5711/1A-018, which sold for more than $1.6 million. The limited-edition model, produced in 2021 to mark the 170th anniversary of the partnership between Tiffany & Co. and Patek Philippe, was issued in a run of 170 pieces.
Additional highlights included:
A Patek Philippe Ref. 3970EP-047 with a black monogram dial commissioned by Michael Steven Ovitz fetched $1.3 million
Christie’sA Patek Philippe Ref. 3970EP-047 with a black monogram dial commissioned by American collector Michael Steven Ovitz, which fetched $1.3 million.
A 1994 A. Lange & Söhne Tourbillon Pour le Mérite Ref. 701.005 sold for $975,360
Christie’sA 1994 A. Lange & Söhne Tourbillon Pour le Mérite Ref. 701.005, from a limited edition of 200 pieces, which sold for $975,360. An A. Lange & Söhne Lange 1 Tourbillon, notable as the first wristwatch to combine a tourbillon with a progressive power reserve indicator, realized $926,592.
Timepieces from independent watchmakers were eagerly pursued by collectors as well. For example, a circa 1990 Daniel Roth stainless-steel limited-edition double-sided tourbillon watch with date and power reserve indication, sold for $520,192, double its high estimate.
In addition, a stainless-steel limited-edition Krayon reference c030 with date, month, 24-hour and sunset/sunrise indication, fetched $203,200.
“Independent watchmaking is still extremely strong, and the buyers are in search of watches from independent watchmakers which, in essence, have quite a finite level of supply due to the production capabilities of some of the watchmakers. They don’t produce 10,000 or 20,000 watches, but they produce maybe 50 or 1,000. Also, I think buyers in the market today are savvy and sophisticated. They know what they’re looking for.”
The Geneva sale was notable for being the first time Christie’s staged its Rare Watches auction across two days. This sale also marked the debut of Christie’s new rostrum, designed by Sir Jony Ive and the LoveFrom team.
Collectors participated actively in the room, by telephone, and online, Christie’s said. Buyers came from around the globe, including 44% from EMEA, 19% from Asia-Pacific, and 28% from the United States. Approximately 30% of bidders and buyers were new to Christie’s.