Phillips Hong Kong Watch auction XIX 23-24 Nov
by Wouter van Wijk
Phillips Auction Review: Highlights from Hong Kong Watch auction XIX
The Phillips watch auctions (also the Toki watch auction) in Hong Kong are actually really interesting. Could even say more interesting than in Geneva.
Why? The focus is more wide spread. In Geneva Phillips is selling most of their top lots and predominately blue chip pieces. Bacs & Russo and their team lead by Alexandre Ghotbi tend to set the trend like they did years ago with paving the road for collecting independent watches and now also with their reloaded auction that focuses on the rebirth of mechanical watchmaking in the 80s and 90s.
What we see in this auction in Hong Kong is not only modern, but also high end vintage (big collection from Japan), lots and lots of independents, more than 10 pocket watches and several Cartier clocks (hope they will explore more brands next time). The diversity orchestrated by Thomas Perazzi is what makes it such an interesting auction for hardcore watch lovers. Also in May 2024 Phillips decided to sell most likely from the same collection high end pocket watches in New York and Hong Kong. This in my honest opinion is one of the best reflections of what the wider contemporary high end watch community represents.
Only improvement could be to add even more second tier high end top condition vintage wristwatches that they did in their watch auction (think of Breitling, Omega, Longines, Zenith, Heuer but also non-Royal Oak but real vintage Audemars Piquet wristwatches earlier than 1972) since we still see too many obligatory modern non collectible Rolex pieces at Phillips which are not rare at all slipping into the catalogues. Let me make myself crystal clear; if they are rare like only 50 or 100 pieces produced and not available on the secondary market I salute them. We visit the biggest auction houses to get our hands on the rarest watches out there in the best condition. To end this introduction looking forward to see the auctions coming with the Tourbillon rage and oversized watches from the late naugthies and 2010s;-)
Now let us take a closer look at ten standout lots that showcase the diversity and allure of horological design.
Lot 858 Voutilainen Art Deco
Will keep it short. This is the great caliber 26 from Kari Voutilainen tweaked a bit to get the first center seconds instead of a subsidiary seconds dial. But the most striking thing is case. Base still is the Vingt 8 case but the lugs have a very dramatic Art Deco profile. Cool thing is that Kari has everything in house such as the dial manufacturer as well as the case making facility. And then just have a look at the glorious movement. Yes yes.
Please note last time a similar kind Art Deco piece with regular lugs sold in Geneva in 2021: https://www.phillips.com/detail/voutilainen/CH080221/120
Estimate
HK$550,000 - 1,000,000
€64,400-117,000
$70,500-128,000
https://www.phillips.com/detail/voutilainen/HK080524/858
Lot 872 Charles Frodsham Perpetual calendar minute repeater split seconds pocket watch
Some of our independent lovers might know Charles Frodsham. This is one of the oldest watch and clockmaker from the United Kingdom that is still active (with Dent). The majority of their business is restoring antique Frodsham clocks and pocket watches. Their wristwatches which they introduced in 2018 are very interesting since they took the natural escapement as thought out by Louis Abraham Breguet and optimized by George Daniels to the next level.
The essence is that the watch revolves around something that Abraham Louis-Breguet invented in the early 19th century. And George Daniels (one of the greatest watchmakers of the 20th century) later continued with, but did not get any further than incorporating it into pocket watches. Frodsham did manage to reduce this.
The Frodsham Double Impulse Chronometer wristwatch is a mechanical movement with two gears that drive a common escapement to achieve exceptional precision. It's was to difficult for George Daniels to put in a wristwatch and he introduced the co-axial concept which is less perfect and actually still needs some oil in real life due to friction. With the help of no-one other than Derek Pratt the current owners Richard Stenning and Messrs White made their first wristwatch with a double impulse escapement.
The majority of mechanical pocket and wrist watches since the late 18th century have used the lever escapement. The double impulse movement, on the other hand, is a relatively new invention.
Each anchor wheel gives alternate impulses directly to the balance without sliding friction, so the escapement is oil-free, which makes it more stable for consistently accurate timekeeping. And therefore extends the interval between maintenance.
Enough now with this rumbling about modern Frodsham. We are not looking here at a modern Frodsham wristwatch; what we have here is a Frodsham pocket watch. And not just a regular one but a grande complication. In the late 19th early 20th century London watchmakers such as Dent, Smiths & Sons but also Frodsham made the most interesting and well made complicated pocket watches and here we have an excellent example.
This watch, originally crafted in 1883, features a movement supplied by Audemars Piguet with a minute repeater, perpetual calendar, moon phases, and a double chronograph. This watch features an unusual double chronograph that, at first glance, might appear to be a split-seconds chronograph with two hands. However, it is actually equipped with a central co-axial chronographic minute register—an extremely rare and sophisticated feature. This type of mechanism is also seen in modern Lange & Heyne timepieces, further highlighting its exclusivity and technical complexity. The watch either remained unsold in stock for years or, more likely, was recased in 1912 to a half-hunter style with an enamel chapter on the front cover.
Estimate
HK$160,000 - 320,000
€18,900-37,800
$20,500-41,000
https://www.phillips.com/detail/charles-frodsham/HK080524/872
Lot 891 Cartier tank Louis XL unique piece
Recently Cartier former CEO Cyrille Vigneron reintroduced the specials order program or again made it more popular. Cartier has always been a brand where customers could make their dreams come though. Back in the early days they made high end jewelry already for royals and captains of industry. What we have here is a really nice special order based on the Tank Louis XL as made during the Collection Privée Cartier Paris CPCP period from the late 1990s up to the middle of the first decade of the current millenium. That particular watch has been made in pink gold (100 pieces) as wel as in platinum (50 pieces). What we have here is a stunning platinum piece with blue numerals instead of black. It's a very subtle kind of detail but it makes a really nice difference. Sometime you just want to flaunt your rainbow gemstone pieces while on the other days you just prefer to fly stealthy under the radar with an understated unique piece.
Estimate
HK$120,000 - 240,000
€14,000-28,100
$15,400-30,800
https://www.phillips.com/detail/cartier/HK080524/891
Lot 895 Audemars Piquet Royal Oak Offshore 25721BA
Launched in 1972, the Royal Oak was already a groundbreaking model in watch design. But in the early 1990s, Audemars Piguet sought to reimagine the collection, assigning in-house designer Emmanuel Gueit to bring a fresh, bold energy to the line.
The result was the Royal Oak Offshore in 1993, a design so assertive it even sparked debate within the company. Nicknamed “The Beast,” the inaugural Offshore reference 25721 featured a then-massive 42mm case size, which pushed boundaries for large sports watches.
This example of “The Beast” is an smack in your face expression of luxury, featuring a striking yellow gold case and bracelet that contrast beautifully with its royal blue dial—a very nice color combination. If you want to get some extra muscle don't doubt just to pull the damn trigger, just get this golden brick, it will save you flexing in the gym with dumbles.
Estimate
HK$320,000 - 640,000
€37,800-75,500
$41,000-82,100
Lot 900 Holthinrichs Ornament Nouveau
This is the first time a Dutch watchmaker has developed a wristwatch completely made in the Netherlands. Michiel Holthinrichs really shows a lot of courage and takes lots and lots of risk to come up with a new watch and caliber made from scratch with parts made outside of Switzerland. This is similar as the accomplishment of Josh Shapiro from te United States. Most often this kind of process takes years and years and millions of investing to develop.
The Ornament Nouveau’s openworked dial showcases the expertly crafted cal. HW-M02, with gracefully mirrored, stainless steel bridges arranged in a symmetrical layout. At its center, a 3D-machined glass bridge, called the Holthinbridge, suspends the variable inertia balance wheel, while a titanium ring with a curved profile and distinct notched hour markers frames the movement. A unique feature, the "Eclipse dial," uses a domed, transparent design that turns smoke-black under UV light, shifting the watch from a solid black to a skeletonized appearance based on lighting. This innovative element protects the movement oils from UV degradation.
Enclosed in a sculptural, 3D-printed grade 5 titanium case, the Ornament Nouveau by Holthinrichs represents a seamless blend of artistry and technology in modern horology.
Estimate
In excess of HKD 170,000 / USD 20,000
https://www.phillips.com/detail/holthinrichs-watches/HK080524/900
Lot 908 Rolex 6538 Big Crown Submariner
The Rolex Submariner Reference 6538 has become iconic, thanks to its appearances on Sean Connery’s wrist in early James Bond films, like Dr. No and Goldfinger. The Rolex Submariner reference 6538 made its debut on the wrist of Sean Connery in Dr. No (1962), marking the beginning of the iconic relationship between James Bond and Rolex. Initially worn on a leather strap, the 6538 continued to appear on Connery's wrist in subsequent Bond films: From Russia with Love (1963), Goldfinger (1964), and Thunderball (1965). In the latter two films, the watch was seen on a NATO-style nylon strap. The 6538 became particularly iconic after its close-up in Goldfinger, where it appeared on Connery in a white suit, cementing its status as a legendary Bond watch. Dubbed the “James Bond Submariner,” this model has gained legendary status among collectors for its rugged charm and screen appeal.
Introduced in 1954 and produced for only four years in about 2,800 pieces, the 6538 boasts an 8mm Brevet crown and a "Swiss"-signed black lacquer dial with no crown guards, a setup also shared by other Big Crown models like the 6200 and 5510. Originally crafted as a diver’s tool watch, many early examples have undergone modifications over time to replace worn components, making fully original versions like this one quite rare.
The featured watch, fresh to the market, with a 307xxx serial number, sports a third-series dial with gilt “Submariner” printing and a bezel with 15-minute markers—a modification likely inspired by the needs of military and professional divers. The large “lollipop” second hand and original red triangle bezel complete its look, showing the slightest signs of age with a charming patina and minimal paint loss.
This example’s dial is exceptional, with a glossy finish and a creamy tone to the luminous markers. Its subtle patina and real nice and honest condition place it among the finest surviving 6538s, making it a highly coveted piece for serious collectors.
Estimate
HK$750,000 - 1,560,000
€87,800-183,000
$96,200-200,000
https://www.phillips.com/detail/rolex/HK080524/908
Lot 909 Patek Nautilus 3700/1 with a green dial
Are we tired of integrated sport watches? Not if they are super iconic, rare and beautiful.
The Patek Philippe ref. 3700 was produced in two main series, with early pieces (1976-1982) marked as ref. 3700/1 and later pieces (1982-1990) stamped as 3700/11. This example stands out due to the striking dial hue—a captivating greenish-grey tone unique to some Type 7 dials produced by Stern Frères, known for the “Dot Sigma” (σ) marking at 6 o’clock. These rare dials have developed this sea-green tone over time, an effect seen primarily in Type 7 dials within the 1'309'XXX serial range.
Produced around 1981, this steel ref. 3700/1 has the defining characteristics of early models, including the wider bracelet, matching inner caseback serial numbers, and thin-serif brand signature. This sea-green dial is especially sought after, and collectors will appreciate its original Certificate of Origin and retailer certificate from October 1981—a rare find, as these documents are often missing from older models.
Interestingly, recent research suggests this variant may have inspired the modern ref. 5711/1A-014 “olive green” dial, underscoring its importance in the Nautilus line.
Thanks to mstanga
Estimate
HK$780,000 - 1,500,000
€92,000-177,000
$100,000-192,000
https://www.phillips.com/detail/patek-philippe/HK080524/909
Lot 910 Cartier Mystery Clock
This auction lot presents a rare and captivating example of the Cartier Mystery Clock, specifically the iconic Model A, which embodies Cartier’s exceptional craftsmanship and innovation in the field of horology. Introduced in the early 20th century, the Model A was among Cartier's first mystery clocks, named for the illusion of floating hands that appear to defy mechanics by moving without any visible connection to a movement. This illusion is masterfully created through hidden glass discs, an ingenious mechanism.
Cartier’s mystery clock mechanism was inspired by the work of the 19th-century French clockmaker and illusionist Jean Eugène Robert-Houdin, who, in the 1830s, developed innovative techniques that combined horology with illusions. His groundbreaking approach laid the foundation for other artisans, notably Maurice Coüet, who designed Cartier’s "Model A" mystery clocks, beginning in 1912. This iconic series, admired for its “floating” hands effect achieved through hidden glass discs, began with a notable first sale to the American banker J.P. Morgan.
The Model A Mystery Clock typically features a transparent rock crystal face, framed in exquisite materials like onyx, enamel, or precious metals. This specific piece showcases a platinum and diamond-set case, characteristic of the Art Deco period, and a transparent dial with delicately suspended hour and minute hands. Cartier’s meticulous attention to detail extends to the clock’s base, which is adorned with intricate geometric designs, adding a layer of refined luxury.
The allure of the Model A lies not only in its aesthetic beauty but also in its technical sophistication. Approximately 30 of these clocks were made, making them highly coveted by collectors. This Model A, preserved in pristine condition, stands as a testament to Cartier’s legacy of innovation and is an exceptional find for connoisseurs of horological artistry.
Estimate
HK$2,800,000 - 5,600,000
€333,000-666,000
$359,000-718,000
https://www.phillips.com/detail/cartier/HK080524/910
Lot 957 A.lange & Sohne Double Split
As you all might know A. Lange & Söhne was relaunched in the year 1994. Four years earlier on December 7, 1990—precisely 145 years after Ferdinand Adolph Lange founded the original company, Walter Lange and watch industry executive Günter Blümlein officially reestablished Lange Uhren GmbH in Glashütte, marking the revival of A. Lange & Söhne following German reunification. With support from Swiss manufacturers, including IWC and Jaeger-LeCoultre, the company reclaimed the A. Lange & Söhne trademark. The reborn brand debuted its first wristwatch collection in 1994, reintroducing Lange’s legacy to the modern era. Walter Lange and the rest of his team presented four models to the world: Lange 1, Arkade, Saxonia, and Tourbillon Pour le Mérite. The new A. Lange & Söhne watches were met with great success and the company was bought by the Richemont Group in 2000.
Launched in 1999, just five years after A. Lange & Söhne’s return with its debut collection, the Datograph (short for Date + Chronograph) was one of the first high-end in-house chronograph movements following the quartz crisis. Produced until 2012 before being succeeded by the Datograph Up/Down, this model became renowned for its unique movement architecture, impeccable finishing, and striking dial design. In 2007, legendary watchmaker Philippe Dufour praised the Datograph’s movement as "the best chronograph movement ever made."
The Datograph was a really remarkable piece since it was the first time the really high end Swiss with industry was really challenged by a new brand with their own manufacture chronograph movement. One year earlier in 1998 Patek had lachend its new oversized 5070 chronograph with caliber CH 27-70 with the old Lemania 2310 workhorse base caliber. At that time the high end Swiss watchmaker used to make chronographs based on ebauches or base calibers from Lemania such as the 2310, Venus, Valjoux or even Zenith (Daytona launched their own caliber 4130 for the Daytona in the year 2000). And it took Patek up to 2006 to launch its first self-winding chronograph movement, produced in-house, the CH 28-520 calibre. So the Datagoraph is really an important milestone for watchmaking in general due to its architecture design and finishing. It took the concept of a chronograph to another level since it was developed with the design of the dial first and excellent movement finishing second.
But Lange is Lange and they didn't hold it back. They kept inventing. That is what makes the early days from Lange that special. A. Lange & Söhne really used to be the innovators and challengers from the Swiss watch industry based on their daring teutonic designs, consistent immaculate finishing of all the watches without exception out of their portfolio and refreshing new takes on established ideas.
So in 2004 they came with another chronograph. This time they introduced the Double Split. The split-seconds function is a type of complication that we find in wrist chronographs, which uses a delicate and very complex mechanism invented by Louis Frédéric Perrelet (1781–1852), so that intermediate times could be measured simultaneously to the use of the chronograph function. As the world’s first double rattrapante chronograph, this timepiece includes both a traditional split-seconds function and a second minute counter, allowing each pair of hands to be stopped independently and then re-synced with the running hands at the press of a button. So the Double Split is the only chronograph in the world to incorporate a double split-seconds mechanism. This innovative design enables the wearer to measure two separate elapsed times, including split times, for up to 30 minutes. This remarkable technical achievement was introduced by A. Lange & Söhne—a brand only 15 years in the making at the time—cementing its reputation for innovation and mastery in high watchmaking.
So you might think why do we add this watch here in this list? This is a really innovative piece. The last two to three decades of modern watchmaking there only have been a couple of real big innovations. Here we rank them if chronological order when they where launched to the public.
1. The Constant Force Mechanism
The constant force mechanism, used by brands like Lange and Sohne with the Pour le Mérite Tourbillon with its fusee chain in 1994 and F.P. Journe with the Tourbillon à Remontoir d’Egalité ensures that a watch movement receives a stable amount of energy, thus maintaining consistent accuracy as the mainspring unwinds. Variants like the remontoire or fusée-and-chain have allowed modern watchmakers to achieve a level of accuracy that rivals quartz technology, pushing the limits of mechanical chronometry.
These innovations mark key advancements in modern mechanical watchmaking, blending precision and durability with complex craftsmanship. Together, they set new standards for quality, longevity, and performance.
2. Co-Axial Escapement (1999, Omega)Created by watchmaker George Daniels, the co-axial escapement revolutionized traditional mechanical escapements by reducing friction between components. Omega adopted this design in 1999, and it has since become a hallmark of Omega’s movements. The co-axial escapement’s ability to reduce wear improves accuracy and lengthens service intervals, making it one of the most celebrated escapement designs in modern horology.
3. Spring drive Mechanism (1999, Seiko)Seiko’s Spring Drive technology is a unique hybrid of mechanical and quartz technology. While powered by a traditional mainspring, it incorporates a quartz oscillator and electromagnetic regulator to achieve near-perfect accuracy, blending the craftsmanship of mechanical movements with quartz precision. First introduced in Seiko’s Grand Seiko line with reference 7R68, the Spring Drive is highly regarded for its “gliding” seconds hand and impressive accuracy, elevating traditional mechanical timekeeping.
4. Silicon Hairsprings and Components (Early 2000s)Introduced by brands like Ulysse Nardin, Patek Philippe, and Rolex, silicon components transformed movement stability and precision. Silicon's anti-magnetic properties and resilience against temperature changes have allowed for greater accuracy without the need for lubrication. These parts also help watches maintain their performance over extended periods, leading to improved reliability across multiple high-end brands.
5. Double and Triple Split Chronograph Mechanisms (A. Lange & Söhne and MB&F)The Double Split Chronograph, introduced by A. Lange & Söhne in 2004, expanded the functionality of traditional split-seconds chronographs by allowing timing for multiple laps or split events over an extended period. The Triple Split, introduced in 2018, builds on this with a third split mechanism, allowing for simultaneous lap timing for hours, minutes, and seconds—a feat of mechanical ingenuity that exemplifies complex watchmaking.
6. Perpetual Calendar Redesign by Stephen McDonnell (2016, MB&F)Stephen McDonnell’s rethinking of the perpetual calendar for MB&F’s Legacy Machine Perpetual in 2016 revolutionized this complex complication. His design eliminates the typical “skipped day” issues by using a "mechanical processor" that calculates the correct date every month, preventing date misalignment. This streamlined perpetual calendar system is celebrated for its accuracy and reliability.
Concluding thoughts on the Double Split
While the 2018 Triple Split also adds the capability to count additional 12 hours, this watch is an evolution of the Double Split and some watchmakers might even say it looks a bit over the top. Four years later in 2022 Steven McDonnell developed a technical superior double chronograph with the Sequential EVO twinverter chronograph. Why was it soo innovative and what can you time with it?
The MB&F Sequential Evo Chronograph stands out with a unique “Twinverter” switch, allowing complex timing options by controlling two chronographs simultaneously or independently. Here’s a breakdown of its timing functions:
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Simultaneous Start/Stop: Start or stop both chronographs at once, useful for timing two events beginning or ending together.
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Alternating Timer: If one chronograph is running and the other is stopped, pressing the Twinverter stops the running chronograph and starts the stopped one, ideal for tracking shifts between tasks.
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Independent Events: Start and stop each chronograph independently using the individual pushers to track two unrelated events.
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Split-Time Functionality: By starting both chronographs together and stopping one before the other, you can measure split times of two events with different endpoints.
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Lap Timing: Time successive laps of a single event by alternating chronographs with the Twinverter, stopping one lap and starting the next immediately for precise lap measurements.
This innovative design allows versatile and complex timing with a single watch, setting a new standard for chronograph functionality. Besides adding real functionality with the winverter switch allowing multiple timing modes the Sequential EVO also solved some serious time rate consistency (drop in amplitude) issues by smoothing out the power involved setting and re-setting the chronograph.
Now back to A. Lange & Söhne and the Double Split. Why have we added this watch to the list? This watch has not only been very important as an innovative solution for timing two separate events but on top of that it's also one of the best looking chronograph movement ever made. It set a new trend of looking at mechanical timing and development of a chronograph caliber. The chronograph is one of the most difficult mechanical achievements in watchmaking and A. Lange & Söhne has set the bar with the Datograph and the Double Split to a complete new level so therefore the Double Split is one of the most important modern watches out there.
The movement architecture of the Double Split is build like layers on top layers, even more attractive than the Datograph. You can loupe it until you fall asleep dreaming of walking on those bridges.... It has the most depth of all movements out there. And on top of that, now you can get them for a huge discount on the secondary market and at auctions.
Estimate
HK$380,000 - 620,000
€44,500-72,600
$48,700-79,500
https://www.phillips.com/detail/a-lange-sohne/HK080524/957
Lot 1023 Robert Cart square jumping hours pocket watch
Picture of Christies 16 MAY 2016 | Rare Watches
Last but not least. You might recognize this piece in a round version. Breguet made a couple of pockets watches in the late 20s early 30s with the same complication and p
The term "Chronoscope" comes from Greek, combining "chronos" (time) and "scope" (range), and refers to a watch with jumping hours and wandering minutes. Popular during the mid-1920s Art Deco period, this style fit well with geometric designs and bold cases.
This example showcases classic Art Deco elegance with a rare two-tone white and yellow gold square case. It features Robert Cart's patented Chronoscope system (Swiss patent 130191), with a beautifully engine-turned dial and a triangular ruby-tipped minute hand. The digital hour display sits below the 60-minute mark.
This concept of telling time would be really nice in a modern interpretation wandering hours pocket watch button packed in a square watch. Think of a Patek Philippe Cubitus but then cool. Audemars Piquet actually did a similar kind of thing with their Code 11:59 wandering hours.
HK$64,000 - 128,000
€7,600-15,100
$8,200-16,400