That's why this Philippe Dufour watch was sold for $ 5 million

That’s why this Philippe Dufour watch was sold for $ 5 million

At the Geneva Watch Auction: XIV, which took place from 5 to 7 November this year, the Phillips auction house in collaboration with Bacs & Russo set a new record for “the highest total sales in the history of watch auctions. “

Part of this is due to a Philippe Dufour watch, which took the highest-selling title of the event, as well as the most expensive Philippe Dufour watch ever sold at auction.

An “extraordinary bidding war” saw the lot 14 , a Philippe Dufour Grande & Petite Sonnerie wristwatch, sold for a staggering CHF 4.75 million (US $ 5.21 million). In addition to previous titles, this also makes it the most expensive piece from an independent watchmaker to be sold at auction.

That's why this Philippe Dufour watch was sold for $ 5 millionThe 1992 yellow gold watch, movement number 1, was the first ever made by Philipe Dufour and also the first Grande & Petite Sonnerie wristwatch in the world. Phillips compared it to the “early works of Da Vinci, Picasso or Basquiat: works of a genius that change the game and the genre”.

That's why this Philippe Dufour watch was sold for $ 5 million

Image via Phillips

According to the company, Dufour’s perfectionist tendencies in its watchmaking production are most evident in the fact that each Grande & Petite Sonnerie wristwatch took “nearly two years” to complete.

Apparently, he used to “discard the component and start over until the slightest angle on a screw head fit his stringent standards,” Phillips writes. “Where many would see ‘excellent’ in a finished part, Dufour would see only ‘very good'”.

That's why this Philippe Dufour watch was sold for $ 5 millionFour Philipe Dufour watches were offered during this auction in total: the Grande et Petite Sonnerie wristwatch, the Grande et Petite Sonnerie pocket watch, the Duality model No. 8 and the Simplicity No. 57. Put together, these pieces went for a total of 11.4 million CHF (12.5 million USD).

That's why this Philippe Dufour watch was sold for $ 5 million“What we at the Phillips watch department and the community of watch collectors around the world have always said has been confirmed today: watches are collectors items on a par with impressionist, modern and contemporary art, beautiful automobiles and jewelry, to name a few, ”says Alexandre Ghotbi, Head of Watches at Phillips, in a Press release .

“Today’s auction was a turning point in the history of watch collecting and in the coming years the world will refer to a Geneva watch auction before and after: XIV.”

The first 12 lots on sale, led by the Dufour piece, each sold for over $ 1 million each. One of the most surprising results was the lot 53 : a 64-year-old Omega Speedmaster, nicknamed “Broad Arrow”, which cost about 3.1 million Swiss francs (3.4 million dollars).

That's why this Philippe Dufour watch was sold for $ 5 million“Was I expecting a world record for a Speedmaster? Yes. Was I expecting a $ 1 million offer so soon? No. And I didn’t expect the bids to go that fast, ”recalls auctioneer Aurel Bacs after the auction closed. “I don’t even think there have been 10 increases. I think it was two million, 2.5, 2.8, and then it came to the final price. Towards the end, the increases in supply became much slower and it looked like someone was squeezing a lemon. “

In total, the 248 watches at auction fetched a whopping 68.2 million Swiss francs ($ 74.5 million). This is almost double the previous record auction total of CHF 21.4 to 41.2 million.

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