[2022 Edition] PHILLIPS "The Geneva Watch Auction: XV Session 1 & 2" Bidding Results - GENEVA 7 & 8 May, 2022 -

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Hello everyone.

In a previous column, we covered notable watches from the world's three major auction houses , PHILLIPS , CHRISTIE'S , and Sotheby's , which were held in Geneva, Switzerland earlier this month (May 2022).

*If you haven't read the previous article yet, please take a look here.

This time, we would like to introduce the top 10 models with the largest difference (increase rate) between the expected auction price (estimate) and the actual auction price from the results of PHILLIPS "The Geneva Watch Auction: XV Session 1 & 2" held on May 7th and 8th, 2022, in a ranking format. Which models made it into the list? Please enjoy until the end!

*The price is the winning auction price plus a commission fee (26%).
*The Japanese yen rate will be based on the exchange rate immediately prior to the auction.
*CHF (Swiss Franc) = 133.30 yen
*All images are from PHILLIPS

[※About the terms used in the text]
*LOT: A number given to items auctioned. The auction will be conducted in the order of the lot numbers.
*Estimate: The expected winning bid price estimated by each auction company.

[The Geneva Watch Auction: XV Session 1 & 2] Exceeding Estimated Bid Price! Top 10 Rankings

10th place ■LOT.135
 [Heuer]
"Triple calendar chronograph"

Point
This antique chronograph was manufactured in the 1940s and 1950s and is marked "Heuer". It is not a current TAG Heuer, but a Heuer watch from before it joined the TAG group. Watches from this period are also known as "Pre-TAG" watches among enthusiasts, and are equipped with a hand-wound movement made by Valjoux, which is renowned as a fine watch. It was evaluated for its combination of a salmon dial and stainless steel case, as well as its good condition.

Estimate: CHF 5,000 – 10,000
SOLD： CHF 35,280(JPY 4,700 2,824)
Increase: 352%

[Source] Philips

9th Place ■LOT.298
 [FP Journe]
『Octa Calendar “Souscription”』

Point
The Octa Subscription was sold as a limited edition of 20 pieces as a subscription piece to raise funds for the production of the Resonance and Tourbillon models. This model won the Special Jury Prize at the Grand Prix d'Horlogerie de Genève in 2002. It is said that this is the only watch made with the popular salmon dial and pink gold case, making it a perfect auction piece.

Estimate: CHF 70,000 – 140,000
SOLD: CHF 504,000 (JPY 67,183,200)
Increase: 360%

[Source] Philips

8th place ■LOT.208
 [Daniel Roth]
"Skeleton Tourbillon"

Point
Daniel Roth was a watchmaker who worked for famous watch brands such as Audemars Piguet and Breguet. This tourbillon, serial number 1, is a decorated and skeletonized Lemania ebauche. It was sold at L'Orologeria Pisa in Italy in 1994.

Estimate: CHF 40,000 – 80,000
SOLD： CHF 289,800(JPY 38,630,340)
Increase: 362%

[Source] Philips

7th place ■LOT.104
 [MB&F x Urwerk]
『Experiment ZR012 “Nitro”』「Ref.C3H5N309」

Point
"Ref. C3H5N309" was produced as a joint project between Urwerk and MB&F. Made from natural zirconium, this model features an impressive design with unique articulated lugs. Zirconium is a rare metal that is attracting attention as being on par with platinum, as it is hypoallergenic, lightweight, scratch-resistant, and has vivid coloring. It was first exhibited at the "Super Machines & Horological Heroes" exhibition hosted by "Hour Glass" at the Paragon Center in Singapore, and the black "Experiment ZR012" was only available for purchase from "Hour Glass" at the time. This is a rare model with only 24 pieces produced.
[Breakdown of 24 bottles]
Zirconium/Titanium (12 pieces), Black Zirconium (12 pieces)

Estimate: CHF 20,000 – 40,000
SOLD： CHF 163,800(JPY 21,834,540)
Increase: 416%

[Source] Philips

5th Place ■LOT.252
 [Cartier]
"Parallelogramme"

Point
The masterpiece "Tank Asymmetric" was sold in 1936. It is also known as "Parallelogram" or "Losange" . The dial is tilted 30 degrees to the right, with the index "12" placed in the upper right corner of the dial and "6" placed in the diagonal corner, creating a unique design. This is one of the "Vintage Cartier" watches that ranks alongside "Crash" and "Cintrée", and this particular watch was especially highly rated for its excellent condition.

Estimate: CHF 30,000 – 60,000
SOLD: CHF 252,000 (JPY 33,591,600)
Increase: 420%

[Source] Philips

5th Place ■LOT.168
 [Omega]
『Speedmaster “Monza”』

Point
The Speedmaster "Monza" was produced as a prototype in 1995 and was never released to the public. At the 6 o'clock position on the dial, the word "MONZA" is written in red, which is only a guess, but it is thought to be a reference to the Monza Circuit in northern Italy, where the F1 races are held. (The name of the Rolex Daytona comes from the Daytona International speedway in Florida, so it is thought that this was a reference.) Although it is a prototype without a serial number engraved on it, the fact that it has the official seal of approval from Omega led to high praise.

Estimate: CHF 30,000 – 60,000
SOLD: CHF 252,000 (JPY 33,591,600)
Increase: 420%

[Source] Philips

4th Place ■LOT.284
 [Omega]
『Speedmaster “FAP”』「Ref.2998-5」

Point
The Ref. 2998 was produced for only three years, from 1959 to 1962. This watch was made for the Peruvian Air Force and features a case back engraved with FAP, which stands for Fuerza Aéreadel Peru. It was also praised for its dot over 90 bezel and the famous Cal. 321 movement.

Estimate: CHF 20,000 – 40,000
SOLD： CHF 189,000(JPY 25,193,700)
Increase: 473%

[Source] Philips

3rd Place ■LOT.165
 [Urwerk]
"King Cobra" "Ref.UR-CC1"

Point
Urwerk is famous for producing original watches. The King Cobra was released in 2010 as a homage to the prototype of Patek Philippe, created by Louis Cottier, a watchmaker famous for inventing the world time mechanism. This Ref. UR-CC1 is a model produced in 2012 to commemorate the 10th anniversary of the opening of Marcus Watches, a watch shop in London. The hours are indicated by a straight line at the bottom of the case, the minutes are indicated by a line with a hash mark above it, and the seconds are indicated by a rotating number at the top.

Estimate: CHF 30,000 – 60,000
SOLD： CHF 327,600(JPY 43,669,080)
Increase: 546%

[Source] Philips

2nd Place: LOT.191
 [Rolex]
『Chronograph』「Ref.3668」

Point
The earliest Oyster chronograph, the Ref. 3668, was sold in the late 1930s and is said to have been produced in approximately 30 units. It was also praised for the excellent condition of its characteristic engine-turned bezel, rivet bracelet, and salmon dial. How many of these still exist?

Estimate: CHF 30,000 – 50,000
SOLD： CHF 277,200(JPY 36,950,760)
Increase: 554%

[Source] Philips

1st Place ■LOT.169
 [Omega]
『Speedmaster “Apollo Soyuz”』「Ref.ST 145.022」

Point
The Apollo Soyuz was released in 1976 as a limited edition of 500 pieces (all for the Italian market) to commemorate the 1975 achievement of the American Apollo docking with the Soviet Soyuz spacecraft (the first international manned space mission conducted jointly by two countries). The mission logo is printed at the 12 o'clock position on the dial, and one of its features is that it does not have the words "Speedmaster Professional" written on it.

Estimate: CHF 12,000 – 20,000
SOLD： CHF 113,400(JPY 15,116,220)
Increase: 567%

[Source] Philips

summary

What did you think.

Looking at the results of this auction, it seems that models with distinctive designs ranked higher than the standard models that everyone is paying attention to, and the results far exceeded the expected winning bid. This could also be said to prove the importance of "rarity" in prices that are determined by supply and demand. Also, although it may be a bit of a stretch, it seems that with the rise in attention to luxury watches, more people are looking for "something different - a watch" rather than the so-called standard. If this theory is correct, it would be very good news for the industry!

We will also be writing articles about the results from CHRISTIE'S and Sotheby's, which were held around the same time, so please look forward to them!

see you!

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