Sales of Phillips watches increased 20% to US $ 133 million in 2020

Sales of 2020 Phillips watches increased 20% year-on-year to $ 133 million, the highest in history.

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Annual sales of Phillips watches totaled a record $ 133 million last year, up 20% from 2019, the auction house said.

The auction house’s watch sales recorded a sale rate of 99% out of approximately 1,200 lots offered worldwide. He sold 15 watches for over US $ 1 million, compared to 12 watches sold at this price point.

Watch sales accounted for 17.5% of Philips’ total annual sales, which amounted to $ 760.4 million.

“In a year marked by uncertainty and adversity, we have been able to connect with collectors around the world thanks to our capacity for adaptation and innovation, with clients demonstrating that their passion for these rare timepieces and exceptional remains stronger than ever, ”Aurel Bacs, senior consultant at Phillips Watches, said in a statement.

Phillips watch auctions saw a 50% increase in online attendees from 2019. And 95% of watches received online auctions in 2020, up from 87% in 2019, the house said. auction.

In 2020, Phillips hosted two online-only sales for the first time, both 100% sold. The total value of watches sold to online bidders in 2020 topped $ 44 million, more than double that of the previous year with an increase of 122%.

In November, a rose gold Patek Philippe Reference 2523/1 sold to an online auctioneer in Germany for 4.99 million Swiss francs (US $ 5.53 million), setting a world auction record for the benchmark and a record price for a watch purchased online, Phillps mentioned.

A stainless steel Rolex chronograph, gifted to Paul Newman by Joanne Woodward and later given to their daughter, Clea Newman, sold at Phillips New York in December for $ 5.475 million, a world record price for this reference.

Phillips will also be offering a few rare watches in its spring auctions. A complete set of reference 2499 Patek Philippe perpetual calendar chronographs will be offered at an auction in Geneva in May, and a Patek Philippe perpetual calendar with minute repeater reference 3974 in pink gold, one of five known on the market. , will be sold in Hong Kong. late May or early June.

Floyd N. Morlan