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Phillips in Association with Bacs & Russo Announces TOKI（刻）, a Special Themed Sale Dedicated to the Japanese Watch Collecting World
To be Held in Hong Kong in November 2024
HONG KONG/ TOKYO – 27 June 2024 – Phillips in Association with Bacs & Russo is delighted to announce “TOKI（刻）” (a noun meaning 'time' in Japanese), the first ever thematic auction dedicated to the Japanese watch collecting world. Taking place in Hong Kong this November, the sale will be held at Phillips’ Asia headquarters in the West Kowloon Cultural District alongside the Hong Kong Watch Auction XIX.
Japan is known for being a culture that is particularly interested in collecting artefacts, placing great value on precision and craftsmanship, and preserve their possessions in excellent conditions. The country has a rich tradition of mechanical watchmaking that dates back to the late 19th century, and one of the earliest watch collecting communities in the world, alongside Italy. The Japanese collectors are passionate and appear to have had a consistent eye for quality and a strong spirit of research, therefore, they have contributed significantly to the success of the global watch market. The watch collector community in Japan has an extremely diverse variety of tastes, for example, independent watchmakers’ creations also gained a strong following there since the early 1990s, with notably more than half of Philippe Dufour’s Simplicity examples were sold to the Japanese market, as well as F.P. Journe in which launched its first boutique in the world in Tokyo.
The “TOKI（刻）” thematic sale will feature important watches by leading global brands made exclusively for the Japanese market, timepieces previously owned by savvy Japanese collectors, as well as unique pieces created by Japanese independent watchmakers, such as Naoya Hida and Hajime Asaoka, for this auction. More than an auction, it represents a tribute to one of most historically important watch markets.
Phillips Asia has organised well recognised thematic sales including Rolex Milestones, SPORTS and RETROSPECTIVE. For this special occasion, Phillips is excited to collaborate with its media partner HODINKEE Japan that will utilize their insights into the Japanese watch market and provide informative review of significant timepieces featured in the sale.
Early highlights from the auction including an Omega Speedmaster Apollo XI 25th Anniversary sold in Japan with the luxury department store Takashimaya’s stamp, and a never-worn Rolex Cosmograph Daytona purchased from Matsuzakaya, a historical department store chain in Japan (illustrated page 1). These highlights will be showcased in touring exhibitions and appraisal sessions in Tokyo, Nagoya and Osaka throughout July.
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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.
Record-breaking prices include:
1. Paul Newman’s Rolex “Paul Newman” Daytona reference 6239 (CHF 17,709,894 / US$17,752,500) – New York Auction: Winning Icons – 26 October 2017 – Highest result ever achieved for any vintage wristwatch at auction.
2. Patek Philippe reference 1518 in stainless steel (CHF 11,020,000 / US$11,112,020) – Geneva Watch Auction: FOUR – 12 November 2016 – Highest result ever achieved for a vintage Patek Philippe wristwatch at auction.
ABOUT PHILLIPS Phillips: where the world’s curious and bold connect with the art, design and luxury that inspires them. As a leading global platform for buying and selling 20th and 21st century works, Phillips offers dedicated expertise in the areas of Modern and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry. Auctions and exhibitions are primarily held in New York, London, Geneva, and Hong Kong, with representative offices based throughout Europe, the United States and Asia. Phillips offers a regular selection of live and online auctions, along with items available for immediate purchase. Phillips also offers a range of services and advice on all aspects of collecting, including private sales and assistance with appraisals, valuations, and financial planning. Visit phillips.com for further information. *Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.
PRESS CONTACTS: HONG KONG – Ingrid Hsu, Head of PR and Corporate Communications, Asia ingridhsu@phillips.com
PHILLIPS NEW YORK – 432 Park Avenue, New York, NY 10022 PHILLIPS LONDON – 30 Berkeley Square, London, W1J 6EX PHILLIPS HONG KONG – G/F, WKCDA Tower, West Kowloon Cultural District, No. 8 Austin Road West, Kowloon, Hong Kong |
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