Our first live auctions of the fall 2023 season are here! The PHILLIPS Hong Kong Watch Auction: XVII, takes place on November 24 and 25, at our West Kowloon headquarters. The auction includes more than 200 of the world's finest watches – including all five Daniel Roth wristwatches featured in our highlights below.
Daniel Roth is one of the most important and influential watchmakers of the post-Quartz Revolution era. In fact, he might just be your favorite watchmaker's favorite watchmaker.
After spending 14 years at Breguet in the 1970s and '80s, helping rebuild the company's prestige standing, famously developing the brand's first perpetual calendar wristwatch.
Roth eventually left Breguet to establish his own company in Le Sentier, Switzerland, in 1988.
He developed, created, and released tourbillons, chronographs, perpetual calendars, and time-only wristwatches over the following six years, almost always in a highly distinctive – and very whimsical – double-ellipse case, before eventually selling his stake in the company that held his name.
He released his first watch, a tourbillon, in 1989, and one year later, he released his first manual-wind chronograph, the C147. Building off the success of the Breguet Chronograph ref. 3230/3237, he turned to the same base family of Lemania ébauches, opting for the caliber 2320.
During this time, with both his tourbillons and his chronographs, Roth pioneered his now-recognizable double-ellipse case. Similar to the approach put in place later on by Roger Dubuis, Roth iterated on his double-ellipse manual-wind chronograph in a number of different directions, utilizing precious metal cases in platinum and rose, white, and yellow gold, as well as a large variety of dial color alternatives, typically featuring clous de Paris guilloché decoration but occasionally opening everything up with a skeletonized design. There are even some rarer Daniel Roth chronograph executions known to exist, such as examples outfitted with a split-seconds mechanism or a monopusher.
Whatever the format, early Daniel Roth chronographs are easily identifiable by their case shape and high quality of decoration. This period of watchmaking was unfortunately a rather short one for Roth – the French watchmaker sold his majority stake in the company in 1994, and the Daniel Roth company was eventually taken over completely by Bulgari in 2000. Things change quickly in the watch industry, even in the 1990s, when future possibilities seemed endless.
Earlier this year, 2023, it was announced that Daniel Roth would once again begin to operate as an standalone entity, separate from Bulgari, under the leadership of LVMH's complications workshop La Fabrique du Temps, headed up by watchmakers Michel Navas and Enrico Barbasini.
For most of the 21st century, early Daniel Roth watches were considered under-the-radar gems for the rare individuals that knew and appreciated the history of the watchmaker. They weren't considered majorly collectible, and they very rarely appeared at international auctions. The double-ellipse case was unconventional, and the history of the company wasn't accessible to the average collector. Things change.
As interest and scholarship in the neo-vintage arena has evolved over the past few years, so has collector attention surrounding Daniel Roth's work. Interest and valuations in early Daniel Roth wristwatches has soared, leading to this year;s official revival. This weekend's Phillips Hong Kong Watch Auction: XVII contains a number of interesting and important early Daniel Roth watches worth paying attention to, as well as a few examples of later pieces produced under the Daniel Roth name after the watchmaker had officially departed the company.
Here's a breakdown of all five lots.
Lot 827: A 1990s Daniel Roth Chronograph Ref. 2147 In 18k Yellow Gold With A Skeletonized Dial
Estimate: HKD $200,000 - 400,000
Reminiscent of the awe-striking beauty of the Breguet No. 160 Marie-Antoinette pocket watch, which displays its stunning wood-polished pink gold plates, bridges and moving parts on an open-worked dial, this present watch also showcases a mesmerizing pink gold movement inside its yellow gold double-ellipse case. Exposed to the wearer on both the front dial and sapphire case back, the pink gold barrel, bridges and open plates with the most exquisite hand engravings would not fail to enchant you. The patina echoes with the burin marked details of the hand-engravings to emit a brilliant shimmer consisting of a fascinating shade of pink, bronze and silver, rendering a marvellous sight together with the blued hours. The dial design of the timepiece also exhibits a continuation of the Breguet aesthetics, often resonated in Roth’s work, and features the classic satin-finished chapter rings decorated by the hand-made 'filet sauté' guilloché on the rim.
To astute Roth collectors, the opportunity to own this watch is extremely rare. Not your average chronograph, according to our research this is by far the only example known to have such intriguing combination. An unusual clash of yellow and pink yet evidently harmonious and beautiful, each hand-engraved floral decoration with the master's standard leads you throughout every single component of this gorgeous timepiece powered by the Lemania 2320 movement. Well-preserved with strong case proportions, the hallmarks behind each straight lug is deep and intact.
With collectors recognizing the importance and extreme rarity of early Daniel Roth creations, this dazzling skeletonized timepiece is a dream and deserves to be heralded as a crown jewel to watch collecting.
Lot 828: A 1990s Daniel Roth Skeleton Retrograde Ref. C127S
Estimate: HKD $80,000 - 160,000
Encased in a Roth’s signature double-ellipse case in white gold, the present example is an extremely rare configuration of the reference C127S (S for Squelette – skeletonized in French). The Roth Retrograde was first introduced to the watch community at Baselworld in April 1991 and was later released in 1993. It is estimated that the Retrograde was produced in low hundreds, with the Skeleton Retrograde produced in even smaller numbers. Most of the Retrogrades found on the market today are produced after mid-1990’s. The present watch is stamped No. 32 on the movement, indicating that it is from early production. While examples with Arabic numerals are believed to be introduced later than those with Roman numerals, the unengraved case back of the present example also hints that the present watch is likely produced in the early 1990’s.
The rarity of this watch stands in equal measure to its exquisite quality. The openwork dial renders all minute details of the beautifully engraved movement visible to the wearer, and what joy it is to see the jumping hour mechanism in action, with even the four o’clock driving wheel interacting with the hour and minute wheel observable. No words can express the experience of seeing this wonderful creation for yourself.
Lot 846: A 2000s Daniel Roth Regulateur Tourbillon Ref. 197.X.40
Estimate: HKD $240,000 - 400,000
As Abraham-Louis Breguet was the inventor of the tourbillon, the design and creation of tourbillon wristwatches was particularly important to Roth. One of the first models that he developed for his eponymous brand was the double dial reference C187 in 1988. The present reference 197.X.40 is a stunning celebration and continuation of his tourbillon wristwatches introduced roughly in the late 1990s to 2000s when Roth’s company was revived by the Singapore-based retailer The Hour Glass.
Encased in Roth’s signature pink gold double-ellipse case, this delightful timepiece comes with a double dial and a hinged case back. On the front dial, the upper portion is reserved for a superbly elegant hour and minutes dial decorated by a silver brushed chapter ring with Roman numerals outlined with sauté piqué pattern, reminiscent of the iconic Breguet dial design. Set against a sea of sand white Clou de Paris guilloché pattern, the dial is further accentuated by the blued hands. On the lower part of the dial, silver Côtes de Genève complements an aperture which shows the tourbillon in action, which will surely make your heart skip a beat when you see it in person. As you open the hinged case, the watch reveals its secret to you, a delicate date indicator with Vieux Panier guilloché, and an eight-day power reserve aperture set on a beautiful cream Clou de Paris dial.
Preserved in excellent condition and numbered 024, this present watch is a reverie of refined elegance that you could only wish for.
Lot 926: A 2010s Daniel Roth Regulateur Tourbillon Ref. 220.Y.50
Estimate: HKD $200,000 - 400,000
This Daniel Roth perpetual calendar tourbillon features two semi-skeletonized dials inside a pink gold double-ellipse case with a hinged caseback. The front dial shows an hour and minute display with Roman numerals that sits on a grey transparent glass plate. The pink gold case and numerals resonate with the blued hands, generating a marvellous hue of champagne and bronze on the glassy dial. Separated by a delicate pink gold stain-finished bridge, one is exposed to an aperture at the 6 o’clock which reveals a phenomenal tourbillon in action, dancing in synchronized movement with the blued tri-sectioned second hands on top. The baseplate decorated with the signature 'filet sauté' guilloché decoration further accentuates the elegance of the wristwatch.
Like a hidden treasure chest, the most fascinating part of the watch lies behind the hinged case back on the back dial. The intricate mechanism can be admired through the semi-skeletonized dial and one is instantly stunned by the remarkable moon phases indication, and the perpetual calendar with the transparent display discs. The present watch also features 8-day power reserve (a significant increase from the 40 hours of the Tourbillon C187) that is displayed on the power reserve indicator through a fine aperture above the signature on the front dial. The present watch is numbered 6, indicating that it is an example from early production. This mesmerizing timepiece is truly a perfect testimony to Daniel Roth’s extraordinary craftsmanship, and should not be missed out by any watch enthusiasts.
Lot 968: A Circa 2005 Daniel Roth Chronograph
Estimate: HKD $70,000 - 120,000
One of the most appealing facets to Daniel Roth’s watches is undoubtedly the stunning hand-finished details. The pinstripe guilloché pattern on the background of the dial is spectacular. Accentuated by the classic Breguet motif, delicate filet sauté guilloché are found surrounding the exquisite cabochons dotted adjacent to the Roman numerals. Even finer filet sauté guilloché patterns decorates the three registers at 3, 6 and 9 o’clock. On top of the dial, the flamed blued hands, reminiscent of the “pomme évidée” hands (or simply “Breguet hands”) but in the classic Roth arrow style, are a superb accent to entirety of the dial. The present watch further houses the DR500 calibre based on the famous Zenith El Primero movement, also used by the very first Rolex Daytona. Fortunately, the transparent case back allows one to witness the movement in its full glory. Preserved in attractive condition, the present watch is a prime example of Daniel Roth’s finest craftmanship.
You can learn more, place a bid, and view the entire he Hong Kong Watch Auction: XVII right here.
About Phillips In Association With Bacs & Russo
The team of specialists at PHILLIPS Watches is dedicated to an uncompromised approach to quality, transparency, and client service. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its Geneva Watch Auction: XIV having realized $74.5 million in 2021. Over the course of 2021 and 2022, the company sold 100% of the watches offered, a first in the industry, resulting in the highest annual total in history across all the auction houses at $227 million.
About Logan Baker
Logan has spent the past decade reporting on every aspect of the watch business. He joined Phillips in Association with Bacs & Russo at the start of 2023 as the department's Senior Editorial Manager. He splits his time between New York and Geneva.
Recommended Reading
Celebrating 250 Years of Urban Jürgensen: A Video Series
Specialists' Picks: The Hong Kong Watch Auction: XVII
The Remarkable True Story Behind Why F.P. Journe Abandoned The 38mm Case Size