Phillips Watches closed its anniversary year with USD370 million achieved across auctions and private sales, the highest annual result ever recorded by a watch auction department. Of this, more than USD290 million was realised at auction in 2025 alone, surpassing Phillips’ previous record set in 2022 and marking an unprecedented fifth consecutive year above the USD200 million mark.
The figures underscore Phillips’ sustained leadership in this market. With an estimated 45 per cent global market share, the house remains the clear reference point for serious collectors. Six live auctions and seven online sales delivered a near-flawless performance, achieving a 99 per cent sell-through rate by lot and 100 per cent by value, with results averaging more than double their low estimates.
Beyond the rostrum, Phillips Watches generated a further USD80 million through private sales and Phillips Perpetual, reflecting a growing appetite for discreet, highly curated acquisitions. As Senior Consultants Aurel Bacs and Livia Russo note, the results reflect enduring collector confidence and a rigorous commitment to presenting only the most important timepieces, guided by integrity and scholarship.
The year’s headline moments were historic. A stainless-steel Patek Philippe Ref. 1518 sold for more than USD17.6 million, becoming the most valuable vintage Patek Philippe wristwatch ever sold at auction. An F.P. Journe FFC Prototype from the collection of Francis Ford Coppola set a new benchmark for independent watchmaking at auction, and an F.P. Journe wristwatch at USD10 775 000, while exceptional Rolex and Patek Philippe pieces continued to command intense competition.
Equally telling was the breadth of participation. Collectors from 80 countries took part, with more than a third new to Phillips and nearly a third from Millennial and Gen Z demographics. In its tenth year, Phillips Watches rewrote the record books and defined the modern language of watch collecting.
