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Fall Geneva Watch Auction by Phillips Net $24 Million

The Fall Geneva watch auctions held earlier this month by Phillips, in association with Bacs & Russo, have come to a close with the tally totaling $24,081,105. The back-to-back auctions on November 11 and 12 netted the highest result for any of the auction houses this season.

Fall Geneva watch auctions

One entire day was devoted to the "Heuer Parade: The Crosthwaite & Gavin Collection." The thematic auction dedicated to Heuer (of TAG Heuer) saw 42 lots come up for sale.

A reunion of sorts for influential Heuer collectors from around the world, the "Heuer Parade" witnessed the sale of every single lot. The sale exceeded the estimate of $1.1 million and accomplished just under $1.5 million. It was a rare "perfect sale," with 100 percent of the lots selling and 100 percent-plus of the estimated value achieved.

Five of the lots sold for more than $50,000 each. At the close of the auction, the last watch to sell was a special TAG Heuer Autavia charity watch created for Jack Heuer's 85th birthday. It sold for $37,500 and all of the proceeds went to the Save the Children charity.

TAG Heuer Autavia

The second auction held during the two days was the Geneva Watch Auction: SIX, with 151 of the 153 lots being sold, and achieving 99 percent by value. The auction totaled $22.624 million. Patek Phllippe was, as usual, at the top of the earnings with two lots selling for more than $2 million each. Another highlight was an Omega Tourbillon wristwatch that broke the world record for any Omega sold at auction: $1.434 million.

Geneva Watch Auction

Other interesting standouts included a Vacheron Constantin Ref. 43045 rare limited-edition perpetual calendar watch with moon phase that sold for higher than its estimate at $57,500, and an Audemars Piguet rare stainless steel watch from 1974 that sold for double its estimate at $50,000.

Vacheron Constantin Ref. 43045

According to Aurel Bacs of Phillips, the interest in pre-owned, vintage watches and buying at auction continues to grow — attesting to the value of investing in new timepieces for future sale.