he sale was headlined by a historically important and exceptionally rare Patek Philippe Ref. 2499 First Series in pink gold, which achieved HK$80,370,000/ US$10,255,212. One of only four known First Series Ref. 2499 examples in pink gold to feature the coveted Vichet case, it is the sole example bearing British hallmarks.

This landmark result establishes it as the most valuable timepiece ever sold at auction in Asia, the most expensive watch sold at global auctions this spring to date, and sets a new world auction record for the Patek Philippe Ref. 2499.

Patek Philippe remained exceptionally sought after, with several notable results underscoring the brand’s enduring appeal. Among them, the Ref. 3448, double-signed by Beyer Chronometrie and nicknamed “Tokyo White,” achieved HK$13,716,000 / US$1,750,16. Its appearance this year carries added significance, as Beyer Chronometrie, recently acquired by Patek Philippe, approaches the close of its 266-year history ahead of its transformation into a new salon in 2027. Further highlights include the Ref. 5970R, commissioned for renowned entrepreneur and collector Michael Ovitz. Featuring the highly exclusive “MSO” monogram, the timepiece realised HK$12,827,000 / US$1,636,725, 1.6 times its pre-sale high estimate.

Timepieces by independent watchmaking masters proved among the strongest attractions, led by an F.P. Journe Tourbillon Souverain “Chine 2010”, one of only five examples produced and the only known example housed in a 38mm platinum case, which sold for HK$32,965,000 / US$4,206,334, more than four times its pre-sale estimate. A fresh-to-market “pink-on-pink” example of the Tourbillon Souverain also achieved an exceptional result at HK$11,239,500 / US$1,434,160, more than double its pre-sale high estimate. In addition, Philippe Dufour’s iconic stainless steel Simplicity, distinguished by a rare slate grey guilloché dial with full Breguet numerals and contrasting pink gold hands and markers, achieved HK$9,461,500 / US$1,207,287, setting a world auction record for a stainless steel Simplicity.

Phillips has consistently presented Cartier timepieces at auction, achieving outstanding results and reinforcing robust collector demand. This season, the inaugural diamond and ruby-set edition of the Crash Squelette, numbered “1” of the series, made its auction debut and sold for HK$9,207,500 / US$1,174,877, nearly five times its pre-sale high estimate. In addition, a Mystery Clock featuring an octagonal rock-crystal dial with diamond-set gold indexes achieved HK$2,286,000 / US$291,694, nearly three times its pre-sale high estimate.

Thomas Perazzi, Head of Watches, Asia, said: “Following the record-breaking success of our recent Geneva sale, which achieved the highest total ever for a watch auction in history, we are delighted to begin the new decade in Asia with our highest-ever watch auction total in the region. Notably, we have set a new record for the most valuable timepiece ever sold in Asia, as well as the highest number of timepieces exceeding US$1 million sold in the region this season. With this outstanding result, we are proud to announce that, to date, five wristwatches have sold for over US$10 million at non-charitable auction—all of them sold by Phillips across our global salerooms in Geneva, New York, and Hong Kong.”

Gertrude Wong, Head of Sale, added: “The exceptional participation from collectors across the globe and the strong performance across categories, from Patek Philippe to leading independent watchmakers such as F.P. Journe and Philippe Dufour, as well as iconic Cartier creations, underscore the continued depth, diversity, and confidence in today’s watch market. These results reaffirm Phillips’ leadership in the global watch market and our commitment to bringing the finest timepieces to auction across our salerooms in Hong Kong, Geneva, and New York. With this momentum, we eagerly look ahead to our upcoming auction in New York on 13-14 June.”