Auction Icons of Horology Shine as Phillips 'Reloaded' Auction

Yesterday, Phillips held its "Reloaded" auction, titled "The Rebirth of Mechanical Watchmaking: 1980-1999," at the Hotel President in Geneva. The event featured 65 highly coveted watches, all of which found new owners, underscoring the enduring appeal and demand for mechanical watches among collectors. As expected, many pieces fetched impressive prices, with some setting new world records.

The F.P. Journe Tourbillon Souverain à Remontoir d’Égalité (No. 15/93) achieved the highest sale price among the watches on offer. This iconic watch, the very first sold by François-Paul Journe, is a fully handcrafted masterpiece. Bidding began at a remarkable CHF 5 million, exceeding its estimated value by around CHF 2 million, to the astonishment of the audience. The competition intensified when a telephone bidder joined, driving the price to CHF 6 million. After adding the hammer fee, the final price reached CHF 7,320,000, setting a new world record for this exceptional timepiece.

This watch, crafted in 1993, is undeniably one of Journe's masterpieces, featuring a gold movement and a dial design that includes distinctive elements such as a power reserve indicator at the 11 o'clock position. The watch graced the cover of Jean-Pierre Gros's book "Infinite and Finite," and is one of only three entirely handmade watches by Journe. 

The watch is meticulously engraved by hand, with inscriptions on the dial, and is numbered "15/93," indicating its production year and its rank as the fifteenth watch by Journe. In addition to its historical significance, the watch is accompanied by original design sketches, articles, and the sales invoice.

Another record-breaking piece was the Rolex "Rainbow" Daytona Ref. 16599, one of the rarest Daytona models, and the only Rainbow Daytona with a Zenith-produced caliber 4030 and a unique gemstone-set bezel. Bidding started at CHF 3 million and quickly rose to CHF 4,500,000 as the final sale price, reaching CHF 5,505,000 after adding a 17% hammer fee, marking a new record for this iconic model.

Though the "Rainbow Daytona" is now recognized as one of Rolex's most distinguished watches, nearly two decades passed before a production version reached the market. This watch features unique rainbow-colored gemstones, unlike later versions. Previously, only Cosmograph watches with Zenith El Primero movements and baguette-set bezels were available, making this piece extremely rare. The first-ever "Rainbow Daytona" presents collectors with an exceptional opportunity to own a remarkable piece of Rolex’s heritage.

Additionally, a highly rare Philippe Dufour timepiece sold for CHF 1,512,000, highlighting the auction's appeal and the lasting value of these horological treasures.

The Philippe Dufour "Duality" watch is an exceptional piece, with only about nine known to have been produced, with an estimated value ranging from CHF 800,000 to CHF 1.6 million (AED 3.4 million to AED 6.9 million). It features a platinum case, a dark gray dial with rose gold indices and hands, and an unmarked movement, and it comes with a certificate of origin. 

The Duality was introduced in 1996 and was groundbreaking as the first wristwatch to incorporate a dual escapement mechanism, with two independent balance wheels linked by a central gear to enhance accuracy. Dufour drew inspiration from a school clock created at the Vallée de Joux watchmaking school and successfully miniaturized this complex mechanism for use in a wristwatch. Despite an intended production of 25 pieces, Dufour’s intricate design and market limitations are believed to have restricted production to only nine. This tenth and final piece, newly available on the market and presented directly by the original owner, represents a significant chapter in the history of independent watchmaking.

For more information visit Phillips Auction official website.