Article | Phillips Asia Keeps Climbing Why Now Is The Time To Consign
Phillips Asia Keeps Climbing: Why Now is the Time to Consign
Driven by stellar results from our Hong Kong home, our 2026 growth has reached new heights. Let our momentum maximize the value of your collection.
The energy in the saleroom is undeniable when records are being broken. From one auction to the next, the reverberant clack of the gavel echoes far beyond our Hong Kong headquarters, signaling a thriving market across Asia.
Below, we look back at the standout moments and stellar results that have defined the region so far in 2026. And looking ahead, we are now accepting consignments across our fall auctions in Hong Kong.
EXCEPTIONAL RESULTS
STRONG OVERALL PERFORMANCE
- Phillips’ spring auction in Hong Kong achieved over HK$601 million / US$76 million — 50% increase year-on-year
- 83% of items achieved the expected price — or higher
- Watches sold for more than double their asking prices on average, outperforming every other auction house in Asia this season
- Explore the Phillips Asia Spring 2026 Watch Auctions Market Report
RECORDS BROKEN
- Phillips sold the most expensive watch ever auctioned anywhere in Asia: a Patek Philippe that achieved US$10.2 million — the first watch to ever cross the US$10 million mark on the continent
- 8 watches each sold for over US$1 million in a single auction weekend
- Our live watch auction alone brought in over US$51 million — 90% more than the same event last year
- Several artists and watch references achieved the highest prices ever recorded at auction
WHO IS BUYING
- 1 in 3 buyers had never bought at Phillips before — our client base is actively growing
- 1 in 4 first-time auction bidders
- Nearly 1,900 bidders from 64 countries registered for our live watch auction alone, driving competitive bidding
- 1 in 3 buyers is Millennial or Gen Z — the next generation of collectors are active participants
MARKET GROWTH
- Buyers from Hong Kong and Macau spent 70% more than last year
- Japanese buyers spent nearly twice as much as 2025
- Southeast Asian buying was up 37%, particularly from Singapore, Vietnam, and the Philippines
COMPETITION FOR EVERY ITEM
- On average, more than 5 people registered to bid on every lot — up 22% in 2026
- More than 2 active bidders competed for each item on average, driving prices up
- Online buying grew 28% with global participation
- In our jewels auction, signed pieces sold for double their pre-sale estimates, with every single item finding a buyer








