For the first time in the history of auctions held in Asia, Phillips auction house achieved white glove sales (all lots sold out) at every sale in 2021. Furthermore, the 13th Hong Kong Watch Auction, held on November 25th and 26th, 2021, attracted a record number of approximately 1800 online participants, creating unprecedented excitement.
Philips Asia Watch Division Achieves Incredible Results
Following its Geneva sale, which set a record for the highest sales in watch auction history, Phillips achieved another astonishing result. At its 13th Hong Kong Watch Auction, held over two days on November 25th and 26th, 2021, it raised HK$231 million (approximately ¥3.36 billion, based on an exchange rate of 1 HK$ = 14.55 yen as of December 3rd, 2021).
With over 43% of the lots sold exceeding their high estimates, Phillips Asia's watch sales reached HK$422 million (approximately JPY 6,138.38 million), marking the highest annual sales ever. With this auction, Phillips Asia's watch division has achieved "white glove" success in all of its sales for the first time in the history of an Asian auction house.
In response to these results, Thomas Perazzi, Head of Watches for Philips Asia, made the following comment:
"Our sales this season were up 75% year-on-year and 21% from the previous season, demonstrating steady growth in the Asia region. We were delighted by the large number of bidders who participated in our auction. Our Hong Kong watch auction saw a steady increase in the number of online bidders. With over 1800 online bidders from 70 countries, it was the largest number of bidders ever to be held in Asia. Approximately 60% of the pieces sold online, breaking previous records. These timeless watches will shine in every era. Many watches sold at this sale far exceeded their highest estimates. In particular, two world records were broken for the most iconic Daytona variations, the Paul Newman John Player Special (Lot 819) and the Panda (Lot 1043). We are very much looking forward to our final watch sale of the year, which will be held in New York on December 11-12."
Top 5 Lots to Watch
Platinum perpetual calendar wristwatch with moon phase, sapphire set indexes, and sapphire display caseback. Manufactured circa 1973. Estimate: Over HK$10 million (approximately JPY 145.45 million). Sold for: HK$17,795,000 (approximately JPY 258.84 million).
"Paul Newman John Player Special" dial with French import hallmark. Manufactured circa 1968 (setting a world record for the highest auction price for a Paul Newman JPS). Estimate: HK$465 million - 9.4 million (approximately JPY 6763 million - JPY 136.7 million). Successful bid: HK$1356 million (JPY 197.24 million).
Paul Newman Panda Dial with Tropical Minute Track. Manufactured circa 1971 (setting a world record for the highest auction price for a Reference 6263 Paul Newman "Panda"). Estimate: HK$4,000,000-6,000,000 (approximately JPY 58,130,000-87,270,000). Successful bid: HK$8,962,000 (approximately JPY 130,360,000).
A pink gold wristwatch set with baguette-cut rubies. Manufactured circa 2015. Estimate: HK$155 million to HK$3.1 million (approximately JPY 2254 million to JPY 4509 million). Successful bid: HK$4.914 million (approximately JPY 7147 million).
Yellow gold perpetual calendar chronograph wristwatch with moon phase. Manufactured circa 1949. Estimate: HK$2.7 million to HK$3.9 million (approximately JPY 3927 million to JPY 5672 million). Sold for: HK$4.536 million (approximately JPY 6598 million).
About Philips
Phillips is a British auction house with over 200 years of history. It specializes in 20th and 21st century art and design, and provides a platform for the buying and selling of art worldwide. It employs experts specializing in modern art, photography, books, watches, jewelry, and more. It holds auctions and exhibitions at salons in New York, London, Geneva, and Hong Kong, and has offices around the world, providing support in cities outside of those mentioned above, such as Tokyo.
The company also provides an online auction platform that can be accessed from anywhere in the world, and not only provides opportunities for buying and selling through auctions, but also offers services such as intermediary services for private sales, appraisals and valuations of items for sale.
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