What to Watch in Hong Kong
The Spring Auction Season Rolls on
Spring auction season is underway and we are entering the second auction of the spring season in Hong Kong this weekend. After Geneva kicked off the season, the scene shifts to Hong Kong this weekend before heading Stateside to New York. After that we enter a quiet stretch until Geneva Watch Days wraps up the summer. This round, Phillips and Christie’s step into the spotlight, while Sotheby’s sits this week in Hong Kong out, and will prepare for a June return to auction in New York.
Here’s a quick breakdown:
Phillips The Hong Kong Auction: XX 23-25 May, 258 Lots
Phillips: The Usual Suspects with Indie Highlights
Phillips brings the usual suspects to the auction block - Patek Philippe, Rolex, A. Lange & Sohne, Audemars Piguet - all as expected. The auction begins with a wild selection of enamel artworks off the bat, and then a deeper dive into the catalog reveals a wide-ranging selection of independents: F.P. Journe, Richard Mille, Ludovic Ballouard, De Bethune, H. Moser & Cie, MB&F, Franck Muller, Krayon, Laurent Ferrier, Romain Gauthier, Greubel Forsey, Maitres du Temps by Kari Voutilainen and Andreas Strehler, Mortiz Grossman, Alain Silberstein, Daniel Roth, a Harry Winston Opus 4 with Christophe Claret, and URWERK.
Of note, at least in my book, are:
Lot 806: Cartier 18k yellow gold, nephrite, coral, mother-of-pearl, lacquer, diamond and onyx Lantern Clock
Lot 847: F.P. Journe Tourbillon Souverain
Lot 849: Ludovic Ballouard Upside Down
Lot 842: A Breguet 3357PT on a Bracelet
Lot 852: MB&F x H. Moser& Cie LM101 Red
Lot 892: De Bethune DB28GS JPS
Lot 893: Krayon Anywhere in Rose Gold
Lot 895: Romain Gauthier Prestige HM
Lot 897: H. Moser & Cie. Endeavour Concept Minute Repeater Tourbillon
Lot 960: F.P. Journe Vagabondage II
Lot 963: Maitres du Temps by Kari Voutilainen and Andreas Strehler
Lot 999: Harry Winston Opus 4 with Christophe Claret
Lot 1024: BVLGARI October Finissimo Minute Repeater Carbon
Lot 1025: De Bethune DB 28 Kind of Blue
Lot 1026: URWERK UR-220 Rose Gold “Miami Vibe”
Why These?
Journe remains incredibly in-demand, and after the Geneva auctions I am curious to see if Hong Kong upholds this sentiment, or if the market cools off a bit.
Breguet’s 3350 series of Tourbillon, originally designed by Daniel Roth, has gained a lot of traction recently - they are incredibly beautiful and have been performing well at auction. A Platinum 3357 on a matching bracelet is special - and I think this one will perform.
The MB&F x H. Moser collabs haven’t shown up at auction in a while and haven’t been widely available. I am interested to see how this compares to MB&F pricing in the Geneva Auctions
De Bethune underperformed in Geneva. I am uncertain whether there were too many in the auction, or if collector sentiment is cooling on De Bethune, or if the demands are being met by current production. Either way, I will be watching to see if fewer lots helps the DBs in Hong Kong perform better.
Krayon’s “Anywhere” feels like a test of retail pricing. With two on offer, I am curious of the auction market is aligned with retail pricing?
The Romain Gauthier Prestige HM feels like a little like looking at a sketchbook of designs from Romain. It doesn’t immediately reflect the current design language of the brand, or his best known watches. This feels like a watch that will appeal to someone betting on Romain’s star continuing to rise into the future, banking that one day this piece will offer a tremendous increase in value as one of his early works.
The Harry Winston Opus 4 is fun to see at auction. Christophe Claret, known for chiming watches, teamed up with the Harry Winston team to launch a tourbillon cathedral gong minute repeater that is reversible. I am curious to see how this sells because it feels like other early Opus pieces, like the Opus One with F.P Journe (one coming up in New York), always seem to fetch a premium at auction.
The URWERK UR 220 “Miami Vibe” is a watch for a very specific collector. URWERK is already for a very specific collector and precious metal URWERK is a very specific niche within that niche group of collectors. I suspect this one will go low, but that doesn’t mean it isn’t a great watch, or an interesting piece from URWERK. This feels like something that sells to the collector who missed out on it at launch, or has a Carbon UR-220 and wants variety.
The Maitres Du Temps watch has the signature of two amazing watchmakers - Kari Voutilainen and Andreas Strehler. As a unique blend of their styles, I suspect this will find a good home with someone who loves independent watchmaking.
I unashamedly love the BVLGARI October Finnissimo Minute Repeater in Carbon. Sleeper status, plus material innovation, and the sleek, elegant angles of the Octo Finnissimo series? Count me in.
Christie’s
Christie’s features 145 lots and is a must follow for anyone looking for an AP or Patek - because there are a ton of them in this auction. Amidst the usual suspects is a small assortment of Indies with one heavy hitter: A Journe Sonnerie Souveraine with the stainless steel bracelet. Alongside the Journe are a Credor, a trio of Daniel Roth pieces, an MB&F Moon Machine 2, a Mermod Freres Primo 4 in Rose Gold, an Antoine Preziuso Tourbillon, and four RMs.
Lot 2277: Credor Eichi Center Seconds with Power Reserve
Lot 2278: Daniel Roth Skeleton Perpetual in White Gold
Lot 2279: Daniel Roth Perpetual Calendar Yellow Gold
Lot 2280: Daniel Roth Master Chronograph Stainless Steel
Lot 2284: MB&F X Sarpaneva MoonMachine 2
Lot 2285: Mermod Freres Primo 4 Jukebox (This is a lot you should just read the essay for because it is neat!)
Lot 2286: Antoine Preziuso Tourbillon
Lot 2287: Richard Mille RM028 Diver
Lot 2288: Richard Mille RM030 Rose Gold
Lot 2289: Richard Mille RM037 diamond set
Lot 2290: Richard Mille RM023 Pink Gold Diamond Set
Lot 2291: F.P. Journe Sonnerie Souveraine Stainless Steel with bracelet
Why These?
Credor isn’t often seen outside of Japan, and they are great watches - beautiful and striking in their simplicity
Daniel Roth had a strong performance in Geneva - I am curious how that momentum carries into Hong Kong
The Mermod Freres Primo 4 Jukebox is an interesting study - it’s a unique piece that is certainly for the right collector- but for the repeater or chiming watch collector this is one to watch
Antoine Preziuso’s name is little known, but I would love to see more collectors take note of his work - maybe this is the piece that unlocks the floodgates. His work is high level, but is really under the radar.
What more is there to say about the F.P. Journe Sonnerie Souveraine? Journe’s Sonnerie on the famous stainless steel bracelet could sell just for the bracelet - but I am certain this will reach high numbers for a collector. The fact that this watch comes with repair and spare parts is fantastic and the presentation box is huge - but beautiful. This is a lot I will be watching closely.
Bonus Auction: Schumacher’s 2001 F1 Ferrari for Sale at Monaco
While cruising watch auctions I can across Sotheby’s The Crown Jewel auction for Michale Schumacher’s 2001 Monaco winning 2001 Ferrari F2001. It’s an iconic car from an iconic driver and iconic era of F1: Marlboro livery, classic Ferrari red, peak Schumacher era. It’s what most people think of when they think of and F1 Car. The auction is occurring during the Monaco Grand Prix weekend and is a fun addition to the F1 festivities at my favorite track, Monaco.
Will we ever know who ends up winning? Doubtful. But it’s fun to imagine this car in the collection of McLaren Racing CEO Zak Brown…or even Richard Mille. That’s the kind of storytelling the industry needs more of.
Final Thoughts
Auctions don’t set the entire tone for the market - but they definitely show where interest is moving. With Geneva behind us and Hong Kong and New York ahead, this next stretch of auctions could provide clarity on what collectors are actually buying, and where the market has shifted for pieces that have been hyped over the last two years.
Want more?
While the lineup in Hong Kong isn’t as deep as Geneva, there are still stories worth watching - and I will be tacking all of them. If you want the inside line on auctions, market shifts, and what collectors are really paying attention to, subscribe to stay in the loop.
If you found this breakdown useful, share it with a fellow collector, a friend bidding in Hong Kong, or anyone who’s curious about the independent scene. It helps more than you know.
Thanks as always for reading and for being part of a community that knows that there are still great stories in watchmaking beyond the hype.