Phillips held the highest-grossing watch auction in U.S. history, the New York Watch Auction: XIV, in association with Bacs & Russo, achieving $75.8 million over two days. The sale shattered Phillips' own record of $43.5 million set just six months earlier, with 16 timepieces selling for over $1 million each. The standout lot was an ultra-rare F.P. Journe Chronomètre à Résonance "Souscription, No. 007," which sold for $13.92 million, becoming the most expensive watch ever sold by the maker and setting records for any watch by an independent watchmaker and any 21st-century watch at auction. Other notable results included a Patek Philippe made for Eric Clapton at $5.2 million and strong performances from independent watchmakers Kari Voutilainen and Roger Smith.
This auction matters because it signals remarkable confidence and depth at the top of the watch collecting market, with independent watchmaking—led by François-Paul Journe—outperforming legacy brands like Rolex and Patek Philippe in the top lots. The record-breaking total, achieved just six months after Phillips' previous record, underscores the growing strength of the luxury watch auction segment in the U.S. and the increasing collector appetite for rare, independent timepieces. The results also highlight Phillips' dominance in the watch auction space, further solidifying its position as a market leader.