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
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
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.
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry BrandSantana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.
Weekly QuizJul 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store RobberiesThe 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s DreamThe watch’s dial features an original design by Marvel comics illustrator Adam Kubert.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsAug 03, 2026
Chatham Releases First Men’s CollectionThe new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.
TrendsAug 03, 2026
Amanda’s Style File: Spinel vs. Peridot While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.
TrendsJul 31, 2026
These Pieces of the Week Are Sweet Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.
MajorsJul 31, 2026
Macy’s Iconic Red Shopping Bag Sign Torn DownThe massive billboard has been in the same spot on the department store’s Herald Square flagship store for decades.
SourcingJul 31, 2026
Gemfields’ H1 Revenue Jumps 72%The miner’s ruby and emerald auctions brought in a combined $102.9 million.
SourcingJul 30, 2026
De Beers Sale in ‘Final, Most Challenging’ Phase, Anglo CEO SaysThe goal is for the De Beers sale to be finished by the second half of 2026, with the subsequent approvals process expected to take a year.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
MajorsJul 29, 2026
Kevin Reilly Retires After 39 Years in the Jewelry Industry Reilly has been with PGI USA for the last 20 years, leading partnership development and professional education.
FinancialsJul 29, 2026
Kering’s H1 Jewelry Sales Up 14%Boucheron reached record sales while Pomellato found success in its signature collections.
Events & AwardsJul 29, 2026
Lauren Harwell Godfrey Designs a Flag for ArkansasShe was one of more than 120 American designers who created flags for the “United Flags of Fashion” project led by CFDA and Vogue.
ColumnistsJul 28, 2026
Peter Smith: Why Your Job Postings May Be Working Against You Smith reveals the method The Retail Smiths use to help retailers and vendors write better job postings.
FinancialsJul 28, 2026
Tiffany & Co., Bulgari Lead the Way for LVMH in H1LVMH’s jewelry and watch brands outperformed the company’s other divisions in an environment the company described as “disrupted.”
CollectionsJul 28, 2026
Lionheart’s New Collection Unites Spiritual Iconography“Sacred Heart” features symbols like crosses, angel wings, the Star of David, and the evil eye as a representation of coexistence.
Events & AwardsJul 28, 2026
The Edge Funding 2 Scholarships Via 24 Karat Club SEUS The scholarships will go to early-career professionals looking to study gemology, bench work and jewelry design, or store operations.
SurveysJul 27, 2026
Jewelry Leads Luxury Market Amid Stabilization, Bain SaysBain & Company delved into the trends shaping the luxury market, the impact of AI, and more in its recent study.
