Phillips Watches completes its 10th anniversary with the highest annual total in history.
In a year that predicted calm in the luxury watch market, Phillips Watches has done the opposite on a historic scale. When the auction house celebrated its 10th anniversary in 2025, it delivered figures that completely turned the industry on its head. With record-breaking live auctions, online sales and growing private sales, Phillips Watches generated a staggering $370 million in profits across all its channels, proving how resilient high-end watch collecting remains when trust and curation lead the way.
At the heart of this success was global watch auction sales of $290.4 million, the highest annual total sales ever achieved by a watch auction division. It was also the fifth consecutive year that Phillips surpassed $200 million, an industry first. Phillips once again sold 1,802 lots with a nearly unprecedented sell-through rate of 99% per lot and 100% by value. Only 11 lots were unsold throughout the year, hammer prices reached 246% of low estimates, and the average lot value at live auctions was $173,000.
The 10 most expensive sales
- FP Journe, resonance chronometer “Subscription No. 17” — $2,843,000
- Philippe Dufour, Duality “No. 1” — $3,085,000
- Patek Philippe, Ref. No. 3448 Rose Gold Perpetual Calendar – $3,272,933
- FP Journe, Resonance Chronometer “Sincere Fine Watches, Black Mother of Pearl” — $3,690,000
- FP Journe, resonance chronometer “Subscription No. 2” — $4,133,798
- Patek Philippe, Perpetual Calendar Chronograph Ref. 1518 “Pink on Pink” — $4,434,483
- Cartier, Portico Mystery Clock — $4,727,837
- FP Journe × THA for Breguet, Sympathique watch with tourbillon wristwatch — $6,619,212
- FP Journe, Francis Ford Coppola FFC prototype – $10,775,000
- Patek Philippe, Perpetual Calendar Chronograph Ref. 1518 Stainless Steel – $17,631,075
The main result comes from a Patek Philippe Ref. made of stainless steel. 1518 Perpetual Calendar Chronograph, which sold for over $17.6 million, becoming the most valuable vintage Patek Philippe wristwatch ever sold at auction and the most valuable timepiece sold worldwide in 2025. Not far behind was the FP Journe FFC prototype from Francis Ford Coppola’s collection, which fetched $10.8 million and set new records for the brand, independent watchmaking and any non-profit wristwatch of the 21st century. Vintage Rolex and Patek Philippe remained anchored in the market, while independent watchmakers, from Philippe Dufour and Kari Voutilainen to Konstantin Chaykin and Charles Frodsham, show that collecting is more than a passing trend.
Source: Philips Watches
