Rare Watch Auction in Geneva Breaks Records with CHF33 Million in Sales

A luxury watch auction in Geneva has set a new sales record after collectors spent more than CHF33 million on rare timepieces during a major event organised by Christie’s.

The “Rare Watches” auction achieved total sales of CHF33,054,441, marking the highest amount ever generated by Christie’s for a multi-owner watch auction. The event also recorded a remarkable 99% sale rate per lot, with average final prices reaching 188% above their minimum estimates.

One of the standout pieces was the highly sought-after Cartier Crash London watch from 1990, which sold for CHF1,585,000 — more than triple its initial estimate and a new world record for the model.

The most expensive item of the auction was the extremely rare F.P. Journe Platinum Tourbillon Souverain Ref. T, which sold for CHF2,439,000. Originally introduced at Baselworld in 1999, the watch attracted intense interest from international collectors.

Another major highlight included the Patek Philippe Tiffany Blue Nautilus Ref. 5711/1A-018, which sold for CHF1,270,000. A rare Patek Philippe Ref. 3970EP-047 previously owned by American entertainment executive Michael Steven Ovitz also exceeded expectations, reaching CHF1,016,000.

According to Christie’s, the auction attracted strong international participation. Buyers from Europe, the Middle East, and Africa accounted for 44% of sales, while Asia-Pacific represented 19% and the United States 28%. Around 30% of participants were new customers to Christie’s auctions.

Remi Guillemin said the results demonstrate continued confidence in the global luxury watch market and growing demand for rare collector timepieces.

The auction also recorded strong performances for brands such as Audemars Piguet, A. Lange & Söhne, Daniel Roth, and Krayon, reflecting broad interest across the premium watch industry.