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
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
