Phillips auction house teamed with Bacs & Russo for a Geneva auction last week that we previewed here. The sale realized a total of CHF29,649,363, or $31,834,734, with four lots topping $1 million. As predicted by just about everyone, lot number 123 brought the top price. This exceptionally rare 1927 Patek Philippe single-button chronograph in steel realized CHF4,645,000, or $4,987,383, against a presale estimate of CHF 1 to 2 million. The sale price established a new world record for a stainless steel wristwatch sold at auction. Only two examples of this watch are known to exist, and the other one is housed in the Patek Philippe museum.
Patek Philippe also captured the second highest sale price. A very rare Ref. 1518 perpetual calendar chronograph in pink gold on a massive Gay Frères bracelet sold for CHF1,445,000, or $1,551,511, just topping the presale high estimate of CHF1,400,000.
Rolex captured the next two spots, and no one was surprised when an exceptionally rare silver-dialed Ref. 6263 “Albino” chronograph that formerly belonged to Eric Clapton sold for CHF1,325,000, or $1,422,666 against a presale estimate of CHF500,000 – 1,000,000. This is a new world record for any Rolex sold at auction.
The final seven-figure lot is number 118, a rare Rolex triple-calender with moon phase that we thought would do well, in part due to a factory error. This reference 6062 was also stamped “6063” inside the case back, then the mistaken reference number was struck through by Rolex. This piece brought CHF 1,001,000, or $1,074,784, well above the presale high estimate of CHF450,000.