Phillips in Association with Bacs & Russo, the world’s leading watch auction house, is proud to announce a historical and record-breaking sale, which realised a total of CHF 32.6 million, the highest result this auction season and in the last decade. After months of anticipation, the sale’s top lot, the Rolex “Bao Dai” reference 6062, established a new world record for any Rolex ever sold at auction, achieving CHF 5,066,000. With five watches selling for above CHF 1 million, the Geneva Watch Auction: FIVE saw nearly 500 online bidders competing with over 400 bidders in the room and hundreds of phone bidders. A total of 220 watches realised CHF 32,614,375 /$32,578,499 /€29,806,277 against a pre-sale estimate of CHF 15.8 to 29.2 million, selling 94% by lot and 98% by value.

The Legendary Rolex “Bao Dai” reference 6062 – one of the world’s most desirable watches ever made by the Swiss watch manufacturer – captivated the saleroom and ignited a bidding war of 13 minutes, eventually selling for CHF 5.1 million. This extremely rare yellow gold automatic triple calendar Rolex wristwatch with moon phase is one of only three black dial models known to exist with diamond markers. Of the three, the “Bao Dai”, is the only example to feature diamond markers at the even hours, the latter more than doubled its pre-sale estimate.

In addition, the gold Rolex Oyster Paul Newman Daytona achieved a world record price of CHF 3,722,000 – the highest price ever realised for a Rolex Daytona. Described in literature as “The Legend” and one of only three known, it is the rarest variant of all iconic Rolex “Paul Newman” Daytona models. Housed in an 18 karat gold case with screw-down pushers, with its creamy lemon-colored dial, it more than doubled the high end of its pre-sale estimate.

Aurel Bacs, Senior Consultant, states: “’Fast and Furious’ – these are the two words that come to my mind when describing the bidding for the gold Rolex Oyster Paul Newman Daytona chronograph, the last lot of Phillips’ Geneva double-evening Spring auction. Two giant bidders were fiercely battling, after having fought off the competition in the room and on the phone, for what is now the most valuable Rolex Daytona ever sold at auction, nearly doubling the previous world record held by Phillips. “The Legend”, as this watch is referred to in literature, concluded the strongest various owner watch sale this decade. These results are the market’s testimony confirming that Phillips is the number one destination for the international collectors’ community. It has always been the rigorous approach of the Phillips’ team of specialists to offer fewer watches but only the finest in terms of quality, originality and condition. 

Across brands, but most notably for Rolex and Patek Philippe, having achieved multiple world records (see top ten), all historical names including Audemars Piguet, Vacheron Constantin, Heuer, Omega, Longines and A. Lange & Söhne sold well above their presale estimates, demonstrating that the appetite for excellent collector’s watches is broad and with depth – internationally.”

Other world records include the highest price achieved for a steel Rolex reference 6062 triple calendar with moonphase, and the highest price achieved for a Patek Philippe reference 2499 2nd series in yellow gold.

Phillips in Association with Bacs & Russo will present Hong Kong Watch Auction: FOUR in Hong Kong on 30 May 2017.