Phillips' New York Watch Auction XIII, held in early December 2025, achieved $43.5 million in total sales, making it the highest-grossing watch auction ever held in the United States. Every single lot sold, extending the auction house's streak of "white glove" New York watch sales to five consecutive years.
The Headline Lot
The star of the evening was a one-of-a-kind F.P. Journe FFC Prototype, consigned by filmmaker Francis Ford Coppola. It sold for $10.8 million to an anonymous phone bidder, setting a new world auction record for any F.P. Journe timepiece and a new record for a watch by an independent watchmaker.
The Coppola connection adds a layer of provenance that auction houses and collectors increasingly value. The watch was not just mechanically exceptional. It carried a story, a history of ownership by someone whose name means something beyond the watch world.
The Broader Results
Across 144 lots, seven watches crossed the $1 million threshold. The depth of the results matters as much as the top line. A single record-setting lot can inflate an auction total, but when dozens of watches sell at or above estimate and the sell-through rate hits 100%, it signals genuine market health rather than a single outlier pulling the average up.
Phillips noted that bidding was active across categories, with strong interest in both vintage references and contemporary independent watchmaking. The success of the F.P. Journe prototype alongside more traditional lots from Patek Philippe and Rolex suggests that collectors are increasingly comfortable paying serious money for watches outside the usual hierarchy.
What This Says About the Market
The auction results from late 2025 offer an interesting counterpoint to the narrative of market correction. While retail and pre-owned platforms have seen softer prices on certain references, the auction market for rare and exceptional pieces appears to be thriving.
Christie's, Sotheby's, Phillips, Bonhams, and Antiquorum all reported record or near-record revenues from watch sales in 2025. Phillips alone achieved $370 million in total watch auction sales for the year, its highest annual total in the company's history and a milestone in its tenth anniversary year of dedicated watch auctions.
The takeaway is that the market is bifurcating. Common references may struggle to hold post-hype premiums, but truly rare watches with strong provenance, mechanical distinction, or historical significance are attracting more money than ever. For collectors tracking the market, this distinction matters more than any single headline number.
Sources
- Phillips' New York Watch Auction Is Highest Grossing in U.S. History - Hollywood Reporter
- Phillips New York Watch Auction XIII Sets $43.5M U.S. Record - duPont Registry
- The New York Watch Auction: XIII - Phillips
- Francis Ford Coppola Watch Sells for $10.8 Million - InsideHook
