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.”
Editors' Picks
Sponsored by
More on Auctions
The Latest
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
