Phillips Hong Kong Toki watch auction 22 November
By Wouter van Wijk
Phillips Auction Review: Highlights from Hong Kong Toki Watch auction
The Phillips watch auction in Hong Kong brings an eclectic mix of rare timepieces spanning vintage classics, contemporary innovations, and unique collaborations. Here, we take a closer look at nine standout lots that showcase the diversity and allure of horological design.
Lot 15: Fragment Design x Bamford Submariner Prototype
Hiroshi Fujiwara, a major influence in Japanese streetwear and founder of Fragment Design, is often dubbed the “godfather of streetwear.” His influence extends across brands like Nike, Louis Vuitton, Moncler, and Stüssy. A key figure in popularizing hip-hop culture in Japan, Fujiwara is also a passionate vintage watch collector with a notable affinity for Rolex, especially the Submariner Explorer 3-6-9.
In partnership with Bamford Watch Department, known for modern customizations of classic watches, Fujiwara co-created the "Heritage 3-6-9."
The watch collecting community in general sometimes talks a bit snooty about George Bamford, but this is a talented guy who made an art of modding wristwatches and took it to another level. Think of the Heuer Monaco he made. IMHO its one of the best modern Monaco models made.
This prototype features the Fragment lightning bolt logo, a sleek black dial, and Bamford’s matte grey MGTC (Military Grade Titanium Coating) for enhanced scratch resistance. Paying homage to the vintage Submariner, it’s a standout piece that merges contemporary streetwear aesthetics with timeless Rolex appeal, making it highly coveted by both watch and streetwear fans.
Estimate
HK$40,000 - 80,000 •
€4,700-9,300
$5,100-10,300
Lot 20 Laurent Ferrier grand feu enamel dial, Breguet numerals, 3 piece LE made for 110th anniversary of Japanese retailer Kamine
This Galet Micro-Rotor by Laurent Ferrier is a rare, limited-edition piece crafted to honor the 110th anniversary of Kamine, a respected Japanese retailer. Limited to only three pieces, it retains the signature design details of the Galet Micro-Rotor series: a sleek stainless steel case with elegant curves, a stepped bezel, and an onion-shaped crown. Within, the white grand feu enamel dial features applied white gold Breguet numerals, complemented by white gold Breguet-style hands for an elegant, cohesive look.
Please be aware: enamel dials on Laurent Ferrier pieces are quite rare. They are more common with their Galet tourbillon watches and their traveller wristwatch.
This specific piece is number 3 of the 3-piece edition, offered in pristine condition and accompanied by its original accessories, including a warranty stamped by Kamine. Kamine, established in 1906, is a renowned jewelry and watch retailer located in Kobe’s historic Motomachi district near Kyu-kyoryuchi ("Former Foreign Settlement"), catering to discerning collectors in Japan for over a century. This piece is a testament to Laurent Ferrier’s craftsmanship and Kamine’s legacy in watch collecting.
Estimate
HK$160,000 - 200,000
€18,800-23,500
$20,500-25,600
https://www.phillips.com/detail/laurent-ferrier/HK080624/20
Lot 29: Harry Winston Opus 1
Max Büsser started his watchmaking career at Jaeger LeCoultre. There he got the chance from the the CEO Henry-John Belmont and the difficult task as a product manager to save the brand from extinction. A couple years later he got a call from a head hunter if he would like to get a job at another company. During their conversation it happened to be an American jeweler. At that time Harry Winston their watchmaking division was also not running very well.
But 31 year old Max Busier recognized the talent of the watchmaker F.P. Journe. He asked him to make a collaboration with the jeweler brand that was almost going bankrupt at that time. FPJ designed three different pieces for Harry Winston. All were named Opus one after the well known Californian winery. He developed the tourbillon, the resonance and the last piece a 5 day automatic. Only six each of the respective Opus 1 models were made, with each unique in dial colour (and a handful set with diamonds). They are all exceptionally rare watches.
Journe’s Opus One reserve de Marche, Five Day Automatic, with a movement including an in-line lever escapement and four adjusting weights, was another horological masterstroke. Impressively, the movement was only 30.5mm in diameter and 5.7mm in height and was the world's first automatic movement with a five-day power reserve.
Estimate
HK$750,000 - 1,560,000
€86,500-180,000
$96,200-200,000
Lot 40: Seiko Observatory wristwatch
Seiko’s journey into Swiss chronometry contests began after achieving significant success in Japanese chronometer competitions held by the Japanese government in the late 1950s. Their initial participation at the prestigious Observatoire Cantonal de Neuchâtel in 1963 featured a quartz Crystal Chronometer clock in the marine chronometer category, which notably finished in 10th place. This impressive achievement made Seiko the first non-Swiss company to secure a top-ten position, setting the stage for further accomplishments in Swiss timing competitions.
In 1968, when the Neuchâtel Observatory stopped hosting chronometry contests but continued certifying observatory-grade chronometers, Seiko submitted 103 examples of its high-beat cal. 4520 movements, running at 36,000 beats per hour. Out of these, 73 passed as certified observatory chronometers. The following years saw Seiko's success grow: in 1969, Seiko submitted 30 more movements with 25 gaining certification, and in 1970, 150 movements were submitted with 128 passing. In three years, Seiko achieved a total of 226 certified chronometers, showcasing its precision and reliability.
The Seiko Astronomical Observatory Chronometers, retailing at 180,000 Yen in 1969, were priced around six times higher than the standard Grand Seiko. These models featured a distinctive linen-finish case and dial, with the dial marking “4520” at six o'clock, even though the caliber was updated to the 4580 in later models. A particularly rare feature is the display case back on this model, revealing the impressive movement within. This specific timepiece was also displayed at The Seiko Museum from June to August 2014 following a comprehensive servicing, underscoring its historical and technical significance.
Estimate
HK$160,000 - 310,000
€18,800-36,500
$20,500-39,700
Lot 45: Credor Eichi I
The Credor Eichi I is a marvel of Japanese horology, crafted by Seiko’s Micro Artist Studio. This platinum-cased timepiece showcases Japanese minimalist design with a clean, porcelain dial and hand-painted blue markers. The watch houses Seiko’s Spring Drive movement, which blends quartz accuracy with mechanical charm. The Eichi II’s unassuming appearance belies the meticulous craftsmanship involved, making it a collector’s dream for those who appreciate simplicity paired with exceptional attention to detail.
In 2008, Seiko introduced a landmark in watchmaking: the Credor Eichi, or "wisdom" in Japanese. Limited to just 25 pieces, this exquisite time-only watch with a power reserve indicator exemplified Seiko’s pursuit of perfection in minimalist watch design.
The Eichi’s dial, made of pure white Noritake porcelain, evokes a pristine, snow-like quality—a subtle homage to Seiko’s roots in Shiojiri, Nagano. Against this delicate backdrop, hand-painted numerals and lettering in a refined shade lend understated elegance, while the blued steel hands add a touch of color. Notably, faint numerals at 2, 4, and 7 reference the concept of time’s unending cycle, subtly hinting at “24/7.” Even the crown showcases this attention to detail with a tiny porcelain insert that mirrors the dial's craftsmanship.
Beneath its elegant exterior, the Credor Eichi houses the in-house cal. 7R08—a movement that reflects the highest levels of finishing and horological artistry. Seiko’s Shiojiri artisans, having received input from the legendary Philippe Dufour, achieved remarkable levels of detail: beveled edges, polished screw heads, and hand-finished floral patterns that elevate the movement into a realm of aesthetic beauty seldom found in Japanese watchmaking.
Estimate
HK$280,000 - 430,000
€32,300-49,600
$35,900-55,100
Lot 95: Rolex 6426 “White Commando”
Despite Rolex's high visibility and reputation, a few models have managed to slip under the radar of mainstream collectors. One such example is the Rolex Commando, a rare model with a unique story. Introduced in the late 1960s, the Commando was produced until 1972 specifically for the U.S. Military. Priced at around $108—about half the cost of a Submariner—the Commando was marketed as Rolex's most affordable option at the time, sold exclusively at U.S. Army bases.
The watch features a modest 34mm stainless steel case, riveted Oyster bracelet, flat polished bezel, and a black 3-6-9 dial reminiscent of the iconic Explorer. Its sturdy design and no-nonsense aesthetic made it suitable for the rugged demands of military life. However, Rolex didn’t sell out of their Commando stock, which led the brand to partner with Abercrombie & Fitch, a luxury outdoor outfitter at the time, to reach the outdoors market.
Rumor has it that the remaining inventory was stamped with “COMMANDO” at 6 o’clock on the dial, adding a touch of rugged appeal for outdoor enthusiasts. Today, the Commando is considered one of Rolex’s rarest models, appearing only occasionally in the market, and is a hidden gem for discerning collectors.
But what do we have here? This is reference 6426 “White Commando”. This particular watch is even rarer that the black version. It lacks the Commando text on the dial but for the rest it is even more obscure and super attractive.
Estimate
HK$40,000 - 80,000
€4,600-9,200
$5,100-10,300
Lot 99: Patek Philippe ref. 5016 minute repeating perpetual calendar tourbillon retrograde date, with silvered Breguet numerals and additional unique grey dial
The Patek Philippe reference 5016 is a masterpiece of grand complications, uniting a tourbillon, a minute repeater, and a perpetual calendar with a moon phase display in a classically elegant Calatrava-style case. Released in 1993, it held the title of Patek Philippe's most complicated watch until the Sky Moon Tourbillon (ref. 5002) debuted in 2001. This model was produced in a limited number of variations, with only about 90 examples made in platinum before production ended in 2011.
Drawing design inspiration from the ref. 2499, the 5016’s case features refined proportions, and its dials are crafted with either silvered or black surfaces, each individually numbered to echo historical observatory pocket watches. The back reveals a beautifully crafted tourbillon, capturing attention with its distinct wheel, shaped like a watchmaker's tool.
The example here, in platinum, features the sought-after “JHP” hallmark under the right lug, indicating a case made by Jean-Pierre Hagmann, revered for the tonal clarity of his minute repeater cases. Only a small number of Hagmann-cased ref. 5016s in platinum have appeared at auction, adding to its rarity.
What sets this specific piece apart is its unique grey dial with Roman numerals—an unusual configuration thought to have been commissioned separately by a prominent Patek Philippe client. Custom-ordered dials of this type are extremely rare, underscoring the watch’s exceptional standing among collectors.
Estimate
HK$3,500,000 - 5,000,000
€414,000-592,000
$449,000-641,000
Lot 109: Otsuka Lotec wristwatch with jumping hours, digital minutes, running seconds disc, warranty and presentation box
Jiro Katayama, founder of Otsuka Lotec, has developed a dedicated following among discerning collectors. Despite being distributed solely within Japan, Otsuka Lotec has gained international acclaim for its unique, steampunk-inspired designs and captivating approach to watchmaking.
The No. 7.5 stands out with its distinctive case design and industrial aesthetic, echoing the style of 1930s 8mm film cameras. Its asymmetrical layout highlights the jumping hour, minute, and seconds apertures, and combines straight graining and sandblasting to enhance the steel case’s texture. Through the transparent case back, the movement—featuring the Miyota 82S5 caliber and Otsuka Lotec's in-house jumping hour module—reveals meticulous craftsmanship.
Released in 2023 with several updates, the No. 7.5 now features a more durable SUS316L steel case, upgraded sapphire crystal over the apertures, and a custom sapphire fisheye lens for the jumping hour, elevating the clarity and durability of the display. A new leather strap with an engraved brand logo buckle completes the refreshed look.
With annual production kept to a minimum, Otsuka Lotec offers these pieces exclusively through raffles for the Japanese market, adding a level of exclusivity to the No. 7.5.
Estimate
HK$15,000 - 45,000
€1,700-5,200
$1,900-5,800
This Otsuka Lotec Spring Drive Tourbillon is an innovative timepiece that combines Seiko’s renowned Spring Drive technology with a tourbillon mechanism. The open-worked dial reveals the tourbillon, offering a stunning visual of the movement in action. Otsuka Lotec’s approach marries traditional Japanese design sensibilities with modern mechanical technology, providing collectors a glimpse into the future of horology with an emphasis on precision and artistry. The Spring Drive’s gliding seconds hand is particularly notable, offering smooth motion that mechanical tourbillons typically cannot match.
Lot 112: Masa’s Pastime unique piece for TOKI auction
Estimate
HK$150,000 - 300,000
€17,300-34,500
$19,200-38,500
Lot 113: Masa’s Pastime gilt brass five-minute repeating wristwatch with a 19th century A. Golay-Leresche & Fils movement
This exceptional timepiece, commissioned by Mark Cho, features a beautifully restored 5-minute repeater movement by A. Golay-Leresche & Fils from the late 19th century. One of the most intricate challenges in this project was rotating the movement’s slider mechanism by 90 degrees to fit the layout of a contemporary wristwatch. The final 37mm watch is encased in brass, a material often chosen for Masa’s Pastime prototypes due to its unexpectedly excellent sound quality for repeaters.
The watch is also accompanied by its original 18K pink gold pocket watch case. Notably, an earlier version of the wristwatch case had already been made, but Cho requested modifications to the proportions, particularly around the bezel, resulting in a convex, pebble-like design. The watch also includes detailed provenance, such as the original commissioning invoice, handwritten notes, and sketches.
Currently, Masa's Pastime has ceased taking new commissions, focusing instead on producing watches under its own brand name.
"A repeater is every watch collector's dream and Masa was the first watchmaker to help realize mine. Masa and I selected this particular 100+ year old Golay movement, which came as a complete pocket watch, for the outstanding quality of its sound! We designed the case together over several months resulting in a shape that retains the satisfying, pebble-like qualities of a fine pocket watch. The case is made in brass but my hope was that the watch would be completed in white gold with an engraved chevron detail on the bezel. If the future owner is interested, I would be more than happy to help guide the watch to its completed form based on my original plans." —MARK CHO
Estimate
HK$200,000 - 400,000
€23,100-46,100
$25,600-51,300
These nine lots illustrate the depth in remarkable vintage but also modern independents represented in the Phillips Hong Kong auction. We chose to emphasize this by showing you some of the remarkable lots coming from Japan. Whether you’re captivated by avant-garde creations or vintage classics, this auction offers a rare opportunity to acquire pieces that define and challenge the boundaries of horology.