Our first live auction of 2024, the PHILLIPS Geneva Watch Auction: XIX, takes place on May 11 and 12, at the Hotel President, at Quai Wilson 47 in central Geneva. The auction includes more than 215 of the world's finest watches – and though we are loath to boast, we truly think it's one of the best catalogs we've ever put together. We'll be highlighting a number of the most interesting lots and stories featured in the sale over the next month, including the Laurent Ferrier Hommage II Limited Edition for Phillips highlighted in this article.
- by Arthur Touchot
Co-branded watches are nothing new. Co-branding is one of the oldest, most well-established marketing strategies watchmakers use to get their names out into the world, increase their visibility and strengthen the reputation of "Swiss Made" in markets far from home.
For more than a century, watch brands such as Rolex, Patek Philippe, and Audemars Piguet have welcomed the addition of a second name somewhere on their watch – usually via a stamp on the dial. Historically, these partners have come from the retail industry. Luxury distributors would import the watches into their market to sell them to their most loyal customers. That is how Tiffany & Co helped Patek Philippe conquer North America, while Serpico y Laino and Freccero & Co were among those responsible for doing the same in the Southern Hemisphere.
Co-branded watches remained popular even following the emergence of a global economy, the spread of authorized dealerships worldwide and, eventually, the development of e-commerce. But instead of simply stamping their names on watches sold, partners are now more involved in the design process and more intentional in choosing materials, colour schemes, and packaging. In return, partners finance these projects up front and take on more significant risks by ordering multiple examples for their clients, often presenting them as limited editions.
Today, collaborations between two or more brands continue to help watchmakers tap into multiple customer bases to reach more clients – not necessarily across regions but also across categories and interests. This has given rise to a relatively new trend: working with even more niche partners, specialized watch magazines, hyper-local watch clubs ... and with the Watches department of Phillips.
In fact, the auction house's first custom-designed wristwatch was never advertised as a limited edition, but it has since inspired several collaborations offered at fixed prices.
But before we dive into the collaborations that Phillips has produced over the past seven years, you might be wondering about the motivation behind our limited editions. Why is Phillips spending so much time with brands outside of the auction room and re-interpreting specific models that they had no influence in designing in the first place? Well, the simplicity of the answer might surprise you.
While there are plenty of good commercial reasons for an auction house to develop limited editions: creating a new revenue stream, increasing its overall revenue, reaching a watchmaker's client base, Phillips' reason is much less pragmatic, granted it remains selfish. We want to be able to express ourselves by designing watches that we think would be well received by the enthusiasts that we know best, people who, like us, are incredibly passionate about the history, the craft and the impact of watchmaking! That is why a certain, undefined, and often imperceptible signature connects all of our limited editions.
We recently brought all seven limited edition wristwatches back to our Geneva office for a unique family photo, which brought fond memories and an acceptable reason to share the - sometimes untold - stories behind these watches. We hope these anecdotes explain our design process ahead of our next project.
The Laurent Ferrier Galet Micro-Rotor Hommage
Phillips's first limited edition watch was not originally intended as a limited edition but as a piece unique for Aurel Bacs, the department's Senior Consultant and star auctioneer. That's right. Aurel had won the extremely rare privilege of designing a watch after placing a bet with Laurent Ferrier about the performance of another unique piece at auction – the Galet Square Only Watch 2015.
If the watch achieved more than its high estimate (CHF 40,000), then Laurent would let Aurel design his dream dial for his favourite model - the Galet Classic. And it did, quite comfortably. The watch eventually raised CHF 62,000 – more than 50% than it had to for Aurel to win the deal. Shortly after the conclusion of the charity auction, Laurent Ferrier reached out to honour his promise, and over the next few months, Aurel could be spotted in the Phillips office spending those few idle moments between two client meetings, paging through old auction catalogues and sketching some concepts on paper.
Aurel was not short of ideas, but the sector dial of Laurent Ferrier's Galet Square Only Watch 2015 was one he wanted to continue to explore. Aurel believed the soft, round case of the Classic Micro-Rotor suited this type of dial even better than the Galet Square. It was a well-established design, popular with pocket watches from the 1920s and 1930s. Inspired by that era of watchmaking, Aurel also recommended using spade hands, ditching the small seconds, and redesigning the crown slightly. Finally, he felt the current typeface was too contemporary, and Laurent Ferrier granted exceptionally granted Aurel the right to print a new typeface on its dials.
When some of Aurel's colleagues caught wind of the project, they asked if they could see his latest sketches. They were so inspired by what they saw that they begged him to consider making more. They wanted in. A deal was stuck and Aurel reached out to Laurent Ferrier to increase the order to twelve watches. Six would be reserved for Phillips employees, and another six would be made for the watch department's advisory board members. Laurent Ferrier agreed and delivered all twelve watches more than a year later.
Made in stainless steel and measuring 40mm in diameter, these limited-edition Micro-Rotors were in shape and size no different than others in the collection but offered a very distinguishable aesthetic that paid tribute to a style that collectors of vintage watches love.
However, there was one more detail that made these watches unique. Each recipient was given the option to have their name engraved on the case back, following the words "Especially for", which were always present in the watches autographed by the world's most famous collector, Mr Henry Graves Jr. In some cases, those words were translated into the owners' native languages. There is one Chinese model and one Persian model.
The watches were never advertised on Phillips' website or social media channels. In fact, it would go completely unnoticed until one evening in November 2016 when I – a then-HODINKEE journalist and future PHILLIPS employee - was invited to moderate a GPHG panel and noticed the watch on Aurel's wrist. I politely asked if I could photograph the watch, which I would publish on HODINKEE's Instagram account later that night.
It has since been captured and shared by others, including very prominently by Revolution Magazine, who highlighted the watch's impact on the design of their own Classic Micro-Rotor L.E. The watch is now a bit of a legend, and I sometimes wish I had joined the company 12 months earlier for a shot at ordering one.
In rare cases, the watch has been seen on a cork strap. John Goldberger had a total of 12 cork straps made for this watch as a homage to his book "Patek Philippe: Stainless Steel", which is made from the same fabric and which features many watches that inspired the design of the Laurent Ferrier Galet Micro-Rotor Hommage.
Manufacturer: Laurent Ferrier
Year: 2016
Model Name: Galet Micro-Rotor "Phillips Edition"
Size: ø 38 mm
Thickness: 10.7 mm
Material: 12 pieces in Stainless Steel
Calibre: Automatic LF 230.01
Bracelet/Strap: Laurent Ferrier Calf Strap
Original Retail Price: CHF 36,000
A pair of Zenith El Primero Ref. A386 Chronographs, with "JPS" and "Terracotta" Dials
Phillips made its second limited edition at Zenith's initiative at the start of 2019. With the El Primero's 50th anniversary fast approaching, the chronograph specialist contacted Aurel Bacs and Alexandre Ghotbi and invited the two men to join them in Le Locle to design a piece unique El Primero, which they would then offer to raise money for charity.
Aurel and Alex jumped in a car to meet with Zenith's CEO, Julien Tornare, and its Director of Product Development and Heritage, Romain Marietta. The four men spent an entire day playing with hundreds of ideas before ultimately setting their sights on an El Primero that would be truly unique and in total contrast to what had defined the model for the past 50 years.
Dubbed "The One-Off", the winning design was a chronograph cased in the most precious metal, platinum, and with a precious stone dial, a spectacular lapis lazuli. Later that year, the watch would enter The Geneva Watch Auction: X as lot 13. It drew incredible interest from the watch-collecting community and eventually sold for CHF 250,000, with proceeds from the sale going to Zoe4life, a registered non-profit organization chosen by Zenith.
However, Aurel Bacs and Alexandre Ghotbi had returned to the Geneva office from their day trip to Le Locle with hundreds of unused design concepts. El Primero chronographs in every known metal and an unimaginable number of different tri-coloured dials, including three shades of green, three shades of purple, and three shades of pink. And even tri-coloured dials made of green, purple, and pink.
The very next day, they called a meeting with the broader international specialist team to pick apart hundreds of designs for a potential limited edition. After a lengthy debate to find the one design the whole team could get behind, two watches were chosen as winners: a gold model with a JPS-inspired dial on a leather bracelet and a stainless-steel model with a "Terracotta" dial and a stunning retro-inspired ladder bracelet, in addition to a leather bracelet. The dials of both watches feature the words "Zenith" and "El Primero" on two lines instead of the typical four-line dials that also mention the model's "Chronograph Automatic" function.
Unable to decide between the two, Phillips placed an order to produce both models. The watches were presented in Geneva during the previews of the Geneva Watch Auction: X, and both were sold out 18 minutes later. A couple of pieces have since been tested on the second-hand market, including at one of our auctions, and so far they've performed above their retail price. But the vast majority are still with their original, very happy owners.
Manufacturer: Zenith
Year: 11.19
Model Name: Ref. A386 El Primero "Phillips Edition"
Size: ø 38 mm
Thickness: 12.6 mm
Features of the Collaboration: Custom dial designs and re-introduction of the straight-end link ladder bracelet
Material: 49 pieces in Stainless Steel / 20 pieces in Yellow Gold
Calibre: El Primero 400
Bracelet/Strap: Stainless Steel "ladder" bracelet + Calf Strap with Steel pin buckle / Zenith Calf Strap with Gold pin buckle
Original Retail Price: CHF 9,900 in Stainless Steel / CHF 19,000 in Yellow Gold
Laurent Ferrier Hommage II, in Stainless Steel
Following the success of their first collaboration, Phillips and Laurent Ferrier kept an open dialogue on the topic of a sequel. Both brands wanted to work together once more, and both shared the desire to create a limited edition accessible to all – not just friends and family. This time, a simple custom dial design wouldn't do. Both parties agreed to be a little more ambitious.
On Phillips's side, there was always the desire to pay tribute to watches of a certain era. In this case, the starting point of the new limited edition would be the introduction of a Tre-Tacche case design inspired by models made by Longines and Omega during the 1940s.
This would be a first for Laurent Ferrier, a brand built on distinct case shapes. And it quickly became apparent that more than the new case design would be needed. To pay homage to watches of that era, Laurent Ferrier also developed new handsets and presented a vintage-inspired logo with a 40s-inspired typeface. The brand also printed the words "Fab. Suisse" and "Swiss Made" at 6 o'clock, in reference to "double Swiss" dials from the mid-20th century.
However, designing the watch's case and winding crown was the most significant challenge. Neither Phillips nor Laurent Ferrier anticipated the difficulty of getting the proportions of the stepped case perfectly correct, but each side kept pushing until a satisfying result was reached almost two years after the start of the project.
Because vintage Tre-Tacche wristwatches usually have either a silver dial or a glossy black dial, Phillips wanted to explore both versions. Unable to decide between the two, Phillips ordered 32 models: 16 pilot-inspired watches with black dials and luminous syringe hands and another 16 classical dress watches with powder pink dials and blued leaf hands. Despite sharing other specs, the final designs presented very different personalities.
Manufacturer: Laurent Ferrier
Year: 10.21
Model Name: Hommage II
Size: ø 40 mm
Features of the Collaboration: Custom case, dials, and hands.
Material: 16 pieces in Stainless Steel with a black dial / 16 pieces in Stainless Steel with a salmon dial
Calibre: Manually wound Cal. LF 116.01
Bracelet/Strap: Calfskin strap with a Stainless Steel pin buckle signed Laurent Ferrier.
Original retail price: CHF 32,000
The Zenith Caliber 135-Observatoire, Made in Collaboration with Kari Voutilainen and Phillips
In January 2020, shortly before the first outbreak of COVID-19 in Western Europe, Phillips met Zenith in Le Locle to debrief the success of its first partnership and record price for the Lapis Lazuli El Primero Chronograph.
Several topics were discussed during the meeting, including one of the watchmaker's most historically important but sadly retired chronometer movements. The Cal. 135 is one of the most decorated chronometer movements of the 20th century, and for this reason, watch collectors greatly admire it to this day. We knew they would respond well to its re-introduction, but could Zenith still build them if they wanted to?
Zenith's management presenting something better. Not for the first time, Zenith had previously taken steps to preserve its heritage, and following another gripping search and rescue mission, they found, tucked away in one of the museum's drawers, 11 completely intact movements. The question then became what to do with them. These were not nicely decorated; more importantly, Zenith needed dials or cases for them.
Zenith was advised to bring in an independent watchmaker to work on the dials – and contact was made with Mr Kari Voutilainen, whom many consider the most outstanding expert in the matter. The Finish watchmaker, who makes around 50-60 watches a year, initially declined to participate, citing concerns over his workload. But the movement kept his interest in the project alive, and after several trips to Le Chateau, he began offering his help on both the movements and the cases that would house them. By the time the first watch was assembled, Kari's influence on the watch was almost total.
Several features highlight the use of observatory-grade movements. On the dial side, their serial numbers are displayed inside the small seconds sub-track, in the style of chronometer watches from the 1950s. While on the other side, Kari's finishing touches on the once sober-looking movements and the graceful toing and froing of their Guillaume balance wheels could be fully admired thanks to a sapphire display caseback.
Following its release in 2019, the Zenith Calibre 135-Observatoire was nominated a few months later as one of the best releases of the year, officially entering the Men's Category against solid competition from the likes of independent watchmakers Rexhep Rexhepi (the eventual Winner of the Category) and Sylvain Pinaud (Winner of the Revelation Prize).
Manufacturer: Zenith
Launch date: 06.22
Model Name: Calibre 135-Observatoire
Size: ø 38 mm
Thickness: 10.35 mm
Features of the Collaboration: Custom case, dials, hands, and re-introduction of the Cal. 135 observatory movement
Material: 10 pieces in platinum
Calibre: Manually wound Cal. 135-0
Bracelet/Strap: Black calfskin strap with a platinum pin buckle signed Zenith.
Original retail price: CHF 132,900
The Bulgari Octo Finissimo 'Phillips Edition,' in Titanium
Presented in 2022, after almost two years of virtual meetings, the Octo Finissimo "Phillips Edition" is what one might call a lockdown baby. The project began with a simple phone call to Fabrizio Buonamassa and Antoine Pin during the Spring of 2020. "How are you doing?" "Is the manufacture still running?" "Has it been easy for you to work from home?" These opening questions had become typical in all conversations following the Swiss government's request for workers to stay home.
After this, the conversation naturally transitioned to watches and the brand's upcoming launches. At the time, no one knew if the traditional release schedule could be maintained since watch fairs were either postponed or cancelled. Everything had been put on ice, meaning Fabrizio suddenly had more time to draw than he had enjoyed in years. It was the perfect moment to ask him if he would consider collaborating with Phillips on a limited edition.
The Octo Finissimo was the obvious candidate. In just a few short years since its release in 2014, it had become Bulgari's hero watch. And it was a watch many inside Phillips were familiar with since some of its rarest iterations were already starting to become auction darlings. Some of us even owned a version or another of the standard titanium version and wore it often in the office.
The trouble with the Octo Finissimo is that it offers endless possibilities for interpretation. This became abundantly clear when Fabrizio sent an image of an Octo Finissimo with a blank dial. After drawing countless different dials, those with beautiful table clocks in their homes found it amusing to take a pair of scissors to the image and place the Octo Finissimo's cut-out against dials from the Art Deco period and even photos of turret clocks.
In fact, you can see the influence of these clocks on Phillips' limited edition Octo Finissimo, from its monochromatic design to its perfectly symmetrical dial, achieved by removing the model's distinctive small seconds hand at 7 o'clock, and even more controversially, the manufacturer's name. It disrupts the contemporary feel of the ultra-slim and lightweight Octo Finissimo but somehow doesn't clash with it.
Instead of the usual printing process, Bulgari had to laser-engrave the motif drawn with Phillips to achieve the desired look. It's a technique that Bulgari has also used to great effect for the limited "Sketch" editions presented last year.
Two versions were presented to members of the Phillips specialist team: a tone-on-tone version similar to the "Sketch" models and a more legible version with a darker laser finish. Again, the team debated the merits of both watches, but only the second version would be retained this time. While the millennials within the team preferred the tone-on-tone prototype, the more legible version prevailed. Fifty pieces were made and presented to the public in November 2022.
One is being offered this week, during the New York Wacth Auction : NINE, so make sure to register for your chance to own the only example available on the market.
Manufacturer: Bulgari
Launch date: 11.22
Model Name: Octo Finissimo "Phillips Edition"
Size: ø 40 mm
Thickness: 5.15 mm
Features of the Collaboration: Custom dials.
Material: 50 pieces in Sandblasted Titanium
Calibre: Automatic BVL 138
Bracelet/Strap: Sandblasted Titanium Bracelet signed Bulgari.
Original retail price: CHF 16,900
What's Next?
We're working on a few exciting projects we can't wait to share. We can’t say much but we can reveal that the next limited edition won't be a Laurent Ferrier or a famous model made by one of the LVMH brands. No. We've gone for something unexpected but are confident you'll understand our choice. Watch this space.
You can learn more, place a bid, and view the entire Phillips Geneva Watch Auction: XIX 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 Arthur Touchot
Arthur Touchot is a former journalist who specialized in the luxury market. Having earned a master’s degree in journalism at Northwestern University, Arthur combined his love of watches and words by becoming a regular contributor to The New York Times and the Financial Times at the start of his career, later becoming senior European editor at Hodinkee. In 2017, Arthur joined Phillips as International Head of Digital Strategy to lead the global content and digital marketing strategy of the auction house’s watch department, and has been involved in bringing some of the world’s rarest timepieces to auction.
Recommended Reading
Celebrating 250 Years of Urban Jürgensen: A Video Series
Specialists' Picks: The New York Watch Auction: NINE
Appreciating Daniel Roth, One Of The Earliest Modern Independent Watchmakers