Time is money. Millions, in fact.
Phillips, Sotheby’s, and Christie’s have sold a combined $39.88 million worth of watches in one weekend in New York.
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Phillips in Association with Bacs & Russo is the leading watch auctioneer, realizing $21.1 million in sales.
Specifically, “The New York Watch Auction: SEVEN” brought the annual total for Phillip’s New York watch auctions to $51.5 million. This is a world record for the Americas.
Furthermore, the sale marked two consecutive years that Phillips Watches sold everything 100 percent. They claimed that this is a first for any auction houseAuction HouseAn auction house is an institution that facilitates the sale of art, jewelry, and collectibles through competitive bidding, often setting market benchmarks for value. In the Philippines, major auction resultsGo to Auction House Glossary in history.
Timepieces by F.P.Journe performed exceptionally and universally. In particular, the Tourbillon Souverain in platinum with pink gold dial led at $1.24 million, more than quadrupling its estimate.
“This carefully curated auction demonstrated the uninterrupted global appeal of rare, hand-selected watches that are considered an asset class,” Americas head of watches Paul Boutros and New York head of sale Isabella Proia jointly said.
Banner Photo by Phillips via website.
