INSIGHT SECOND MARKET: Phillips Auctions and Patek Philippe at Sotheby’s
Custom-made pieces, early production series, and rare case variations are the highlights of Phillips’ Independent auction in Hong Kong on November 21 and 22. Prior to that, 220 watches will go up for auction in Geneva on November 7 and 8. In addition, a Sotheby’s retrospective highlights which Patek Philippe watches achieved particularly high results at the auction house.
F. P. Journe: Mark Cho’s Personal Resonance
One of the key lots in Hong Kong is a Chronomètre à Résonance RT from the collection of Mark Cho, co-founder of The Armoury. Created around 2018, the watch is part of a series of five pieces featuring the 38-millimeter platinum case of the so-called “Parking Meter” model. Its dark blue, warm-toned dial was designed in close collaboration with François-Paul Journe and Pierre Halimi.
The number 168 also corresponds to the street address of The Armoury store in New York. Phillips estimates its value at between six and twelve million Hong Kong dollars. The buyer will also receive a custom-made garment from The Armoury. The appeal here lies not only in the limited edition but also in the traceable, personal story behind its creation.
Other Journe timepieces showcase different phases of the brand’s history: A platinum Tourbillon Souverain from around 2001 with a yellow gold dial is estimated at 3.9 to 11.6 million Hong Kong dollars. Also featured is a Centigraphe Souverain Anniversaire Hong Kong from 2016, number 10 of 20, with an estimate of 2.4 to 4.8 million, as well as an Octa Calendrier Ruthenium, number 01 of 99, expected to fetch over 1.6 million Hong Kong dollars.
Voutilainen and Haldimann: Handwriting and Special Requests
A Voutilainen Vingt-8 from around 2022 features a titanium case paired with a hand-guilloché blue enamel dial by Comblémine. According to Phillips, it is one of two special commissions in titanium and is being consigned by its first owner. Instead of the usual logo, it bears Kari Voutilainen’s personal signature. The estimate is 1.5 to 2.5 million Hong Kong dollars.
Beat Haldimann’s H1 Flying Central Tourbillon “PuristS Edition” Series 2 puts the flying tourbillon front and center. The platinum model, dating from around 2012, is one of four watches in the second series; the red “12” and the unique serial number were added at the owner’s request. The unpolished watch, which was serviced by Haldimann in 2023, is estimated to be worth between one and two million Hong Kong dollars.
Théo Auffret and Kiu Tai Yu expand the selection
With the Tourbillon à Paris Subscription No. 18, Phillips announces the first auction offering of this model. The titanium watch, created around 2023 and featuring a hand-guilloché dial, is one of 15 subscription watches delivered; two of them were made of titanium. Its estimate ranges from 900,000 to 1.8 million Hong Kong dollars.
The HK 2000 by Kiu Tai Yu evokes an early chapter in the history of independent watchmaking in Asia. The white gold model from around 2000 bears the number 14 in a series of 20 watches. The design combines Chinese characters and symbolism with Western watchmaking. Phillips estimates the lot’s value at 150,000 to 300,000 Hong Kong dollars.
The Hong Kong preview will take place from November 16 to 22, from 11 a.m. to 7 p.m. local time, at the WKCDA Tower in the West Kowloon Cultural District. All estimates listed are exclusive of buyer’s premium; they do not represent actual sale prices.
Geneva: 220 watches on November 7 and 8
The Geneva Watch Auction XXIV will take place on November 7 and 8 at the Hôtel Président, 47 Quai Wilson. Both auction sessions will begin at 2:00 p.m. local time. The selection includes 220 timepieces, ranging from historic collector’s items to contemporary independent watchmaking.
Viewing is available from November 4 through 6, from 10 a.m. to 7 p.m. each day; on November 7, from 9 a.m. to 7 p.m.; and on November 8, from 9 a.m. to 1 p.m. Further background information on the Geneva lots and the Pucci Papaleo Collection can be found in the article on the Phillips Fall 2026 auction.
Sotheby’s: Five Notable Patek Philippe Results
Sotheby’s looks back on five particularly high auction results for Patek Philippe. The selection includes sales dating back to 2014; it is not a ranking of all prices achieved worldwide.
| Clock | Auction result in U.S. dollars | Sales |
|---|---|---|
| Henry Graves Supercomplication | about 24 million | November 2014 |
| Ref. 1518 “Pink on Pink,” Prince Tewfik | about 9.6 million | December 2021 |
| Ref. 2499, second series, Gobbi Milano | about 7.7 million | April 2022 |
| Grandmaster Chime Ref. 6300G-010, Sylvester Stallone | about 5.4 million | June 2024 |
| Ref. 1563 | about 3.9 million | November 2024 |
The Henry Graves pocket watch, completed in 1933, features 24 complications. Among wristwatches, rare case and dial combinations, dealer signatures, and documented provenance, among other factors, contribute to their special status. The figures represent historical individual sales; they do not reflect a general market price for comparable watches.
Sotheby’s is also currently highlighting “Fine Jewels & Watches” in Milan from October 14 to 28, as well as “The Singapore Collectors’ Edit: Watches” from October 21 to 28, 2026. This retrospective on top lots complements the overview of the current fall offerings.
Dorotheum: “White Glove Sale” for the Cartier Collection
At “The Art of Luxury” on October 22, 2026, in Vienna, all 100 lots were sold. The German private collection included Cartier jewelry and 17 Hermès handbags. According to the Dorotheum, the auction brought in nearly three million euros—three times the low estimate. A complete sell-through is referred to in the auction industry as a “white glove sale.”
The highest price was achieved by a diamond necklace featuring a 10.16-carat untreated Madagascar sapphire, which sold for 221,000 euros. A ring with a 5.50-carat untreated Vietnamese ruby sold for 202,500 euros, while a ring with a 7.02-carat yellow diamond sold for 201,500 euros. A Panthère bangle sold for 169,000 euros. The collection had been assembled over 25 years and was carefully documented.
