57th Luxury Watch Trends 2026 | Phillips "The New York Watch Auction: XIII" Total of $43.5 Million, 100% Success Rate - A Look at the Enthusiasm that Brought About the "Highest Price in U.S. History"

監修者 Commit Ginza

December 6–7, 2025 / New York Phillips in Association with Bacs & Russo

Phillips “The New York Watch Auction: XIII”
Total price of approximately 6.73 billion yen ($43.5 million) and a 100% success rate - the full story of the frenzy that led to the "highest price in US history"

First, the numbers. 144 lots were 100% sold (white glove) , for a total of approximately 6.73 billion yen ($43.5 million) . What's more, it set a new record for the highest price ever paid in the US . What's "symbolical" about this auction is that the FP Journe "FFC" prototype was sold for approximately 1.66 billion yen ($10.755 million) . This isn't just news that an expensive watch was sold; it's a major topic for understanding where market value standards are heading .

Main topics: US record breaking / 100% successful bid / Independent record
Reading time: Approximately 18–25 minutes

Regarding currency conversion : The yen conversions in this text are for reference only. Exchange rates are calculated using the Bank of Japan's "Foreign Exchange Market Conditions" as of 17:00 on 2025-12-05 (1 USD = 154.62 yen) ( as 12/6 is a weekend, the rate from the previous business day is used).
As a general rule, the prices shown are based on the final price including fees .

Key Points (60 Seconds)

  • Phillips NY XIII broke the US record with a total bid of approximately 6.73 billion yen ($43.5 million), and had a 100% success rate.
  • The iconic lot is the FP Journe "FFC" prototype: approximately 1.66 billion yen ($10.755M).
  • Major overseas auctions are now driven by "context (rarity x origin x artistic value)" rather than "price."

table of contents

First, the conclusion: What made this auction so historic?

  • The highest price in US history was approximately 6.73 billion yen (43.5 million dollars). Rather than breaking the record itself, the key point was the strength of the deal, which continued to be sold with white glove success (100% success rate). (Phillips official press release)
  • FP Journe's "FFC" - $10.755M - Proving that independents are not in a separate category, but are competing at the top of the main stage. (HODINKEE and other media outlets reported the winning bid.)
  • What's important is that buyers' evaluation criteria are leaning more towards rarity, story, craftsmanship, and provenance , rather than just "selling an expensive watch." This is rewriting the rules of price formation.
This article will refer to the official results announcement from Phillips and major media reports as primary sources, and will delve into what lies beyond the numbers - market structure. As a general rule, figures will be expressed as final prices including fees .

1. Details of the “largest price in US history”: What the $43.5 million and 100% closing mean

1-1. The scale indicated by official announcements and "outliers"

According to the official Phillips press release, "The New York Watch Auction: XIII" achieved a total of $43.5 million , setting a new record for the highest-priced watch auction in the history of the U.S. Furthermore , 100% of the lots and amounts were sold (White Glove), with seven lots exceeding $1 million .
The important thing here is not to just say, "The economy is doing well." In other words, the fact that demand in the top range is "structurally strong" has been visualized in numbers. Reference: Phillips official release

index result Interpretation
Total bid amount Approximately 6.73 billion yen ($43.5M) The limit for the "apex auction" in the US market has been updated.
Closing rate 100% (lot/amount) Supply and demand balance is stable = There is a large buyer base and competition is established
Approximately 150 million yen ($1 million) or more lot 7 Higher prices are no longer the exception, but the driving force behind the entire event.

*The definitions of "White Glove" and closing rate may differ depending on the auction house, so this article follows the official Phillips definition.

2. The story drove the price: FP Journe "FFC" prototype, $10.755 million

2-1. What is “FFC”? The origin comes before the specifications.

The "FFC" attracted attention as a prototype born from the relationship between film director Francis Ford Coppola and François-Paul Journe. The Phillips auction page itself is symbolic in that it explains "why this watch was created" before listing the watch's mechanical specifications.
See: Phillips auction page

The results of this batch showed just how far the pinnacle of independent racing can go.
— A common point emphasized by media outlets (final price of approximately 1.66 billion yen ($10.755 million))

In fact, HODINKEE reported the final price to be approximately 1.66 billion yen ($10.755 million) , which is a new record for FP Journe .
Reference: HODINKEE (2025-12-06)

Related Articles <br>The story of Coppola and FFC is also the "prerequisite story" for understanding NY XIII. If you haven't read it yet, reading it first will make the reading experience even more enjoyable.
46th Luxury Watch Trends 2025 | Coppola x FP Journe FFC and 7 Watches on Sale

2-2. The 11-minute bidding war revealed the buyer's logic

The reports also mentioned that the bidding continued for about 11 minutes (descriptions vary depending on the media). However, what is important to look at here is not the time, but the "reason" behind the bidding .
The FFC simultaneously satisfied three elements favored by the auction market: a prototype, an individual piece created by a famous person, and an unusual piece of work (a leap in imagination).

Factors that pushed up prices FFC specifics Market Implications
Scarcity A prototype is an individual that cannot be compared identically The more ineffective the market price chart is, the stronger the auction is.
Provenance It can be said to be a personal piece by Coppola The story guarantees value "outside the appraisal certificate"
Creativity A unique concept (expression of hands) Accelerating evaluation of "artworks" that go beyond industrial products

Furthermore, mainstream media also gave this win extensive coverage, adding fuel to the fire by reaching a wider audience than just watch enthusiasts ( see e.g., The Hollywood Reporter, 2025-12-07).

3. Independent is not "subculture": A change in the leading role in the apex market

3-1. Journe's record-breaking achievements suggest a redistribution of evaluation criteria

In the past, the symbols of the ultra-high price range were mainly rare models of Patek Philippe or Rolex, historical pieces, or pieces that belonged to famous people. However, at NY XIII, the Journe "prototype" became the face of the event .
Rather than simply saying that "brand ratings have changed, " it is better to understand that what buyers are paying for is changing , which will lead to the next step.

Viewpoint: Today's top market places a premium not only on industrial perfection, but also on authorship (who made it and why) . And authorship is most easily emphasized in the independent x prototype area.

GQ also mentioned the record-breaking auction results as "a major event in the watch world in 2025." Reference: GQ (Summary of 2025)

4. “White glove” indicators are not economic indicators: The risks behind the upside

4-1. The stronger the market, the more obvious its weaknesses become

100% closing and total price updates are flashy and easy to understand. However, from a practical perspective, you should also look at "where distortions will occur." In a strong market, information circulates quickly, so the moment the tide of evaluation changes, the backlash is also large.

Risks/Concerns Why does it happen? Practical measures (sales and purchases)
Story-oriented If the origin becomes the core of the price, "individuals that cannot be talked about" will be weak when it comes to resale. Include "explainability (documentation)" in the evaluation criteria at the time of purchasing
Incomparable pricing Prototypes and one-of-a-kind items cannot be priced, making it difficult to set a price. Not only do you see the auction results, but you also record the bidding story.
Media Fever Backlash When general media coverage increases, short-term overheating is likely to occur. Explain short-term trends and long-term value (technical and historical) separately

*This article is not investment advice, but an explanation of market structure. Prices are constantly fluctuating and can fluctuate significantly depending on individual items, accessories, condition, and history.

5. The future of the watch market: Three hypotheses for 2026

5-1. Hypothesis 1: Top is "Super Rare" and Middle is "Explanatory Power"

If results like those of NY XIII continue, the top tier will become even more irreplaceable. Meanwhile, in the middle tier, rarity will be important, but it is also expected that the development of information (explanatory power) that buyers can be convinced of will be effective.

  • Top band: Prototype, unique piece, strong provenance, historical significance
  • Middle range: Transparency of condition, accessories, maintenance history, distribution background, and market price range

5-2. Hypothesis 2: Independents are evaluated on a “surface” rather than a “point”

A single record-breaking bid is an "incident." Repeated occurrences signal a "change in the environment." The strong sales and media attention shown by Phillips will help promote the idea of ​​independents as a "category" rather than a "spot."

As a result, in the future, people will be required to have a more detailed eye for not only "who will be evaluated," but also "which period, specifications, and origins are most important."

5-3. Hypothesis 3: Auction results are more dependent on context than price

When looking at auction results, it's easy to focus on the final price. But in a NYXIII-level event, the context is more valuable than the price. For example:

  • Why did this lot become the “face of the event”?
  • Positioning in the catalog (how to promote it, how to place the story)
  • Did it reach the general media (or spread outside the watch world)?

Reference: San Francisco Chronicle (2025-12)

FAQ: proactively answering common questions

Q1. What's so great about a 100% winning rate?

Simply put, there are no unsold items. But the real issue is not that, but the fact that there is enough buyers and competition to prevent unsold items . Phillips Official

Q2. Why has FP Journe's "FFC" grown to approximately 1.66 billion yen ($10.755M)?

The combination of "rarity (prototype)," "origin (Coppola's own model)," and "artistic quality (a groundbreaking concept)" made it an irreplaceable entity. HODINKEE (Results Report)

Q3. Do these records affect the regular used car market price?

The impact will be gradual. However, it is dangerous to simply apply the price of a unique item to the general market price. Rather, it is more practical to reinterpret the "buyer's evaluation criteria" and translate them into a format that suits your inventory and customer base.

Sources/References (Primary information/Major reports)

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