Luxurious Geneva Watch Auctions sets new records

The Phillips Inaugural Watch Auctions this weekend sold four watches for over one million dollars while setting a number of records.

Held in association with Bacs & Russo in Geneva, Switzerland, the auctions brought in a combined $31.8 million during the two-day event

Saturday’s Glamorous Day-Date auction was dedicated to Rolex’s most prestigious model and showcased 60 exclusive examples.

The Geneva Watch Auction: ONE on Sunday also auctioned off in just 21 minutes an extremely rare Patek Philippe single button doctor’s chronograph in stainless steel with a finely aged off-white silvered dial to an anonymous bidder for nearly five million dollars.

More than doubling its low estimate, the winning bid set a new record price for any stainless steel wristwatch to go under the hammer.

The legendary Rolex Daytona Albino also set a record price for any Rolex sold at auction, attracting a $1.4 million bid.

$1 = £0.65