Patek Phillipe’s famous “Generations” campaign from the 1990s continues to resonate, if the results of Phillips’ most recent Hong Kong Watch Auction: XX is anything to go by.
Conducted by Phillips in association with Bacs & Russo, the auction, held from 23 to 25 May 2025, firmly established itself as a landmark event in the world of haute horology. Classic timepieces and Swiss excellence were brought under the hammer in record time, achieving an impressive total of HK$212.52 million, surpassing the high estimate by nearly HK$31 million and marking a remarkable 30 per cent increase year-on-year.
One of the standout highlights was an exceptional Patek Philippe Ref. 5970P-013, a possibly unique perpetual-calendar chronograph wristwatch in platinum, which fetched an astonishing HK$10.13 million. Featuring four striking red hands and the poignant inscription “A Mon Fils”—“To My Son,” in French—on its sapphire caseback, the sentimental value captivated bidders near and far, bolstering the legacy of the brand and its powerful message of “You never actually own a Patek Philippe. You merely look after it for the next generation.” It would seem that the strong results for this remarkable timepiece reaffirms Patek Philippe’s oft-repeated motto as this well-preserved model moves from one owner to the next.
The Hong Kong Watch Auction: XX attracted a diverse and enthusiastic pool of participants, with over 1,800 registered bidders from 70 countries underscoring the enduring global appeal of fine timepieces, particularly as collectors seek to acquire unique and historically significant watches. Another major highlight of the event was a museum-quality collection of timepieces that achieved a perfect sell-through rate, with all 18 exceptional pieces going for well above their presale estimates. Among these was a unique, illuminated nephrite Lantern Clock crafted by Cartier dated circa 1925, originally commissioned as a wedding gift for Princess Fawzia of Egypt, which ignited a fierce 20-minute bidding war before ultimately selling for over HK$9.14 million—just another example of how deep emotional connections and historical pieces continue to evoke intense interest among collectors.
F. P. Journe’s Chronomètre à Résonance “Black Label” achieved an impressive HK$4.5 million, nearly double its presale estimate. Similarly, Cartier’s enchanting Mystery Clocks continued to dazzle, with an Art Deco piece set with rock crystals and diamonds selling for HK$7.62 million, showcasing the maison’s legendary craftsmanship and timeless appeal. Vintage Rolex models retained their allure, with the stainless-steel Cosmograph Ref. 6263, adorned with the UAE “Quraysh Hawk” emblem, selling for over HK$2.5 million.
All this is perhaps just a prelude for the upcoming auction in New York, to be held later in June, as the exciting momentum established in Hong Kong promises to shape the future of horology and watch-collecting the world over.
All images courtesy of Phillips.
