WatchesApr 22, 2021
Check Out All Patek Philippe’s 2021 NewnessAuctionsMay 12, 2021
This Patek Philippe Just Sold for $7.8M at Auction
It was the top lot of Phillips and Bacs & Russo’s recent white glove sale.
This previously unknown Patek Philippe Ref. 2523 yellow gold world-time wristwatch with two crowns and a “Eurasia” cloisonné enamel dial was the leading lot at Phillips and Bacs & Russo’s recent watch auction.
Geneva—Phillips, in partnership with Bacs & Russo, achieved a white glove sale with its “The Geneva Watch Auction: XIII,” held over the weekend.
Most notable of the 223 lots sold was the rare Patek Philippe Ref. 2523 with “Eurasia” dial circa 1953, which sold for $7.8 million, double its pre-sale estimate.
The yellow gold wristwatch, pictured at top of article, features a cloisonné enamel dial.
In total, The Geneva Watch Auction: XIII sold 100 percent by value and 100 percent by lot, achieving $42.3 million.
Other highlights included a Patek Philippe Calatrava Ref. 570, which went for 16 times its pre-sale estimate for $3.66 million.
A set of four Patek Philippe Ref. 2499 from the first, second, third and fourth series, meanwhile, achieved a total of $6.3 million.
A Richard Mille Ref. RM022 limited-edition red quartz dual-time wristwatch sold for more than its pre-sale estimate, earning $839,000.
Related stories will be right here …
Most notable of the 223 lots sold was the rare Patek Philippe Ref. 2523 with “Eurasia” dial circa 1953, which sold for $7.8 million, double its pre-sale estimate.
The yellow gold wristwatch, pictured at top of article, features a cloisonné enamel dial.
In total, The Geneva Watch Auction: XIII sold 100 percent by value and 100 percent by lot, achieving $42.3 million.
This Patek Philippe Calatrava Ref. 570 fetched $3.66 million at auction.
Other highlights included a Patek Philippe Calatrava Ref. 570, which went for 16 times its pre-sale estimate for $3.66 million.
A set of four Patek Philippe Ref. 2499 from the first, second, third and fourth series, meanwhile, achieved a total of $6.3 million.
A Richard Mille Ref. RM022 limited-edition red quartz dual-time wristwatch sold for more than its pre-sale estimate, earning $839,000.
From the “Independents Atelier” a Roger Smith Series 1 “Onely Theo Fennell” earned the most of any Roger Smith watch sold at auction when it went for $589,000.
According to Phillips, it’s the most a wristwatch from a British watchmaker has ever garnered at auction.
Bacs & Russo Senior Consultant Aurel Bacs and Head of Watches Alexandre Ghotbi compared the 10-hour long auction to the 90th minute of a World Cup Final with “pulse-racing bidding.”
They attributed the auction’s success to record pre-sale inquiries, website visits, attendance at the international traveling exhibition and online auction participation.
“We are thrilled with the ever-growing interest around the globe, especially for the highest quality vintage watches but also the finest masterpieces made by independent artisans,” they said.
“The new world record for the Roger Smith ‘Onely’ series 1 may seem one small step for the global watch industry, but is one giant leap for independent watchmaking and collecting.”
According to Phillips, it’s the most a wristwatch from a British watchmaker has ever garnered at auction.
This Roger Smith Series 1 “Onely Theo Fennell” earned the most of any Roger Smith watch sold at auction when it went for $589,000.
Bacs & Russo Senior Consultant Aurel Bacs and Head of Watches Alexandre Ghotbi compared the 10-hour long auction to the 90th minute of a World Cup Final with “pulse-racing bidding.”
They attributed the auction’s success to record pre-sale inquiries, website visits, attendance at the international traveling exhibition and online auction participation.
“We are thrilled with the ever-growing interest around the globe, especially for the highest quality vintage watches but also the finest masterpieces made by independent artisans,” they said.
“The new world record for the Roger Smith ‘Onely’ series 1 may seem one small step for the global watch industry, but is one giant leap for independent watchmaking and collecting.”
More on Auctions
The Latest
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
FinancialsAug 27, 2026
Movado’s Q2 Sales Up As Younger Consumers Take Interest in WatchesThe fashion watch category was once threatened by the Apple Watch, but consumers are now opting for new wearables, said Movado’s CEO.
SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportThe report delves into trending styles, the most popular jewelry brands by city, and why Belle Époque jewelry could be the next big thing.
Lab-GrownAug 26, 2026
AGTA Now Requiring Members to Call Lab-Grown Gems ‘Synthetic’The association added the requirement to its revised "Code of Ethics" and released the 17th edition of its “Gemstone Information Manual.”
SurveysAug 26, 2026
Consumer Confidence Dips in August Amid Anticipatory Anxieties Respondents were concerned about the future of the labor market and their income as well as the rising prices of gas and groceries.
