Phillips in Association with Bacs & Russo will have its Spring sale, the Geneva Watch Auction: XXI on 10 and 11 May 2025. The live watch auction showcases an extraordinary selection of nearly 200 rare timepieces, including eleven creations to benefit the Philippe and Elisabeth Dufour Foundation.
UPDATE – 12 May: Phillips in Association with Bacs & Russo achieved total of CHF 43.4 million at The Geneva Watch Auction: XXI. A remarkable CHF 1,178,560 was raised for the Philippe and Elisabeth Dufour Foundation from the sale of 11 one-of-a-kind timepieces, led by a unique Philippe Dufour Simplicity with a dial crafted from butterfly wings that achieved CHF 647,700 (lot 129 – see below).
Lot 15: Konstantin Chaykin ThinKing & PalanKing, sold for CHF 508,000
Lot 57: 1961 unique Vacheron Constantin Minute Repeater ref. 6448, sold for CHF 698,500
Lot 74: The only known Patek Philippe ref. 3448 in 18k pink gold, sold for CHF 2,722,000.
A decade of watch stories
The inaugural Geneva Watch Auction: ONE of Phillips in May 2015 introduced a new approach in the auction world – emphasising curation and collector engagement. As Alexandre Ghotbi (Deputy Chairman and Head of Watches, Europe and Middle East) sums up the value proposition: ‘From the start, our thinking was: If it doesn’t excite, it doesn’t belong’.
In the last 10 years Phillips in Association with Bacs & Russo has played an important role in shaping the modern watch auction space, by creating immersive events, thematic auctions (the Start-Stop-Reset being the first in 2016, dedicated to stainless steel chronographs) and strong online presence. The company leaned into digital initiatives, not just as a tool but as an authentic way to expand its community.
‘2024 marked our fourth consecutive year of setting sales records and achieving ‘white glove’ sales in New York – a rare achievement in the auction world, when 100% of lots presented are sold. Out of more than 6,000 timepieces offered at Phillips’ global auctions over the last four years, only 14 lots remained unsold. This is unprecedented and tells us that our focus on curation is key’ – says Aurel Bacs, Senior Consultant and the driving force behind Phillips in Association with Bacs & Russo.
Geneva Watch Auction: XXI
There are 194 lots in the catalog for the upcoming Geneva Watch Auction: XXI, including watches from the usual high-achievers like Rolex, Patek, A. Lange & Söhne or Audemars Piguet; important independent brands such as Richard Mille, MB&F, Krayon or Grönefeld and even some other interesting pieces like a Cartier mystery clock, Grande & Petite Sonnerie pocket watches or a gold Rolex jewellery watch, designed by jewellery designer Georges Lenfant.
Lot 15 – Konstantin Chaykin ThinKing & PalanKing
Estimate: CHF350,000 – 700,000
Starting with an exciting unique prototype piece from an interesting creator – Konstantin Chaykin is a Russian watchmaker and inventor, known for his rather unconventional style and compelling engineering solutions. He started as an independent watchmaker in 2003 and became the member of the Académie Horlogère des Créateurs Indépendants in 2010. He has applied for dozens of patents in Jewish and Muslim calendar indications, cosmic time display and other complications.
In 2024, Chaykin presented the world’s thinnest wristwatch, the prototype of the 40mm ThinKing, coming at an impressive 1.65mm thickness. Important to note, that several famous watch brands are well-known for producing thin and ultra-thin watch calibers, often competing for the title of the thinnest mechanical watch or movement. Piaget, Audemars Piguet, Vacheron Constantin, Jaeger-LeCoultre and more recently Bvlgari all have their ultra-thin line. Chaykin is an independent artisan working with a very small team and much more limited resources compared to these brands – the result of their R&D work is rather exceptional.
Konstantin Chaykin made extra changes for the production pieces and he has decided to auction the nickel alloy ThinKing prototype wristwatch, accompanied by its titanium automatic carrying base (called the PalanKing). The ThinKing’s ‘dial’ looks like a face with the ‘eyes’ indicating hours and minutes, and the brand name is placed in a semi-circular shape resembling a smile.
The movement is manually wound with 32 hours of power reserve and can be wound by a key or the above mentioned special carrying case that can also automatically wind the movement.
Lot 57 – A 1961 unique Vacheron Constantin Minute Repeater ref. 6448
Estimate: CHF 120,000 – 240,000
If you love rare, elegant and seemingly simple watches, this fresh-to-market Vacheron Constantin might be your bet. It is a minute repeater timepiece in a 36.5mm platinum case, a reference 6448, one of only three made in 1961 (two in white gold and this one in platinum). It has a brushed, not polished case, straight lugs and the dial is decorated with diamond hour-markers – 4 rectangular shaped and 8 square cut diamonds.
Repeater timepieces are among the most intricate complications in finewatchmaking. Vacheron Constantin has mastered the delicate art of chiming timepieces, making some of the most beautiful and best-sounding minute repeaters ever made. The present lot is no exception, the sound is crisp and clear – despite the fact that platinum is not ideal for this complication. As the auction house shares, this beautiful collectors’ piece is consigned by the family of the original owner who had bought it in Mexico in 1961.
Lot 74 – The only known Patek Philippe ref. 3448 in 18k pink gold
Estimate: CHF 2,000,000 – 4,000,000
Patek Philippe’s first serially produced self-winding perpetual calendar wristwatch the reference 3448 was born in 1962. This series began with the serial number 1119000. Produced in 586 examples until 1982 with the caliber 27-460 Q in four slightly different series, the majority of the watches were yellow gold. The white metal or pink gold were even rarer (Antiquorum sold a white gold model in 2023).
According to Phillips, Patek is believed to have produced just one or two examples in pink gold, and for decades collectors weren’t even sure they existed. One finally surfaced, with a Freccero (Urugay based retailer) co-signed dial in 2011, and now the same example is the lot 74 in the auction.
It has a 37mm pink gold case – the shape and the size were considered big and broad then, so Italian collectors named the reference ‘Padellone’ aka frying pan.
Depending on the four series the watch was made; some details and the dials are a bit different. This lot is from 1968, meaning its dial is from the ‘second series’, where Patek introduced pearl minute divisions. The date ring remains small (earlier ones have engraved or enamelled graphics, whereas later ones are printed). The day and the month are displayed in small apertures right under the 12 o’clock marker. The date is at 6 o’clock with a cut-out for the moon phase display. It features Patek’s double-P and not the logo on the crown.
Philippe and Elisabeth Dufour Foundation
Philippe Dufour is a highly respected and influential Swiss watchmaker, considered one of the greatest living masters of traditional watchmaking. Born in 1948 in the Vallée de Joux, Switzerland – a region renowned for horology – Dufour has dedicated his life to the craft of haute horlogerie. Together with his wife, he established a Swiss nonprofit organisation, the Philippe & Elisabeth Dufour Foundation in June 2023, as they felt ‘the need to give back a portion of what we have received, to be the factor of chance for others.’ The foundation is dedicated to addressing critical humanitarian and environmental challenges worldwide, focusing on humanitarian, environmental, educational, cultural and public health-related topics.
For the Phillips Watches Spring auction, eleven of the most well-known independent watchmakers and brands have generously donated timepieces (Philippe Dufour, Ludovic Ballouard, Artya, Magana, Carl F. Bucherer, Miki Eleta, Jacob & Co., Berney, Moritz Grossmann, Bovet, and Havid Nagan). Each of the eleven watches presented are unique – either one-of-a-kind creations or exclusive iterations of existing models. The proceeds from this part of the auction are dedicated entirely to the foundation.
Ludovic Ballouard signature ‘Upside Down’ timepiece is the Lot 123 – the Upside Down ‘L’Anniversaire’ in platinum with miniature enamel dial. The dial is a reproduction of Marc Chagall’s The Birthday, created by Caroline Cottin in Ballouard’s own metiers d’art workshop.
Bovet is very well known for its spectacularly complicated and highly decorated watches. With the Récital 12, the brand brings that same level of craftsmanship to a clean, contemporary design. The Lot 125 is a unique piece in titanium, which features a black lacquer dial bearing the logo of the Philippe and Elisabeth Dufour Foundation.
The Lot 129 is a unique ‘métiers d’art’ Philippe Dufour Simplicity featuring a 37mm pink gold case and a dial crafted from genuine butterfly wings by artist Dominique Arpa-Cirpka (wife of Yvan Arpa, independent watch brand ArtyA’s founder).
Photo credits: Loupiosity.com
All registered trademarks are property of their respective owners.
All rights reserved.
