Three takeaways from the most expensive watches sold at auction in 2022

Ricardo Sime

Recently, Robb Report listed the 20 most expensive watches sold at auction in 2022. Overall, there was more than $600 million in sales between the top three auction houses (Sotheby’s, Christie’s and Phillips), with these 20 pieces alone accounting for more than $50 million of that total. And though these numbers are quite impressive, there are some reoccurring themes one can pull from the top 20 list. Here are three takeaways from the most expensive watches sold at auction in 2022.

Precious metal is still king

Christie’s Rare Watches Rolex Paul Newman Lemon Daytona ref. 6263 (photo courtesy of Christie’s website)

For all the talk about steel watches and their importance in the modern watch world, the top 20 from 2022 says otherwise. Eighty per cent of that list contain watches made in either yellow gold or platinum. It seems as if the collector who has the millions necessary to play at this level of collecting isn’t occupied with thoughts of buying the “steel sports watch” of the moment. And chances are these same individuals are already on the allocation list for something like a Patek Philippe Nautilus Tiffany Ref. 5711. Regardless of the reasoning, it seems as if precious metal watches are still the cream of the crop.

Patek Philippe is still Patek Philippe

Sotheby’s The Nevadian Collector Honk Kong Patek Philippe Ref. 2499 (Photo courtesy of Sotheby’s website)

“And still, heavyweight champion of the world…Patek Philippe”

Though Rolex dominates the headlines and the amount of post on social media, Patek Philippe is still a goliath on the scene. They are heavily represented on the list of the most expensive watches sold at auction in 2022. With more than half of the list containing pieces from the brand, covering multiple references, one can rest assured that the long-term value of Patek is still quite strong.

Small numbers, large bids

Phillip’s Geneva Watch Auction: XVI George Daniels Spring Case Tourbillon (Photo Courtesy of Phillip’s website)

In almost every lot on the top 20 watches sold at auction in 2022, the production numbers are under 500. In some cases, like the George Daniels Spring Case Tourbillon, we’re talking about a one of one from a hugely influential watchmaker. A watch he wore personally no less.

Though these pieces are coming from some of the largest and most well-known brands, there is no doubt the industry will continue to follow suit. So, if you were wondering if the days of limited editions would slow down or even come to an end, that’s highly unlikely.

Timepiece	Metal	Auction Gavel Price*
Patek Philippe Ref. 2499	Gold (yellow)	$7,724,346
George Daniels Spring Case Tourbillon	Gold (yellow)	$4,092,075
Richard Mille RM56-01	Sapphire	$3,661,673
Rolex “Paul Newman” Daytona	Gold (yellow)	$3,421,169
Patek Philippe “Pink-on-Pink” Ref. 1518	Gold (yellow)	$3,333,926
Patek Philippe Nautilus Ref. 5711 (Tiffany)	Steel	$3,180,665
Patek Philippe Sky Moon Tourbillon Ref. 5002R	Gold (yellow)	$3,129,380
F.P. Journe Grande et Petite Sonnerie Souveraine	Steel	$3,060,413
Patek Philippe Second-Series Ref. 2499	Gold (yellow)	$3,000,000
Patek Philippe Pink Gold Ref. 1518	Gold (yellow)	$2,900,000
Patek Philippe Ref. 3974	Gold (yellow)	$2,498,314
George Daniels Platinum Anniversary Watch	Platinum	$2,389,500
Patek Philippe Ref. 5217	Platinum	$2,300,000
Patek Philippe Ref. 1518 (Cartier)	Gold (yellow)	$2,224,605
Patek Philippe Ref. 5531-012	Gold (yellow)	$2,220,000
Richard Mille Ref. RM001	Gold (yellow)	$2,104,449
Audemars Piguet “Jumbo” Royal Oak (Gerald Genta)	Two Tone (Steel & Gold)	$2,100,000
Rolex “El Limoncito” “Paul Newman” Daytona Ref. 6264	Gold (yellow)	$2,087,000
Patek Philippe World Time Ref. 605HU	Gold (yellow)	$2,054,256
F.P. Journe Centigraphe Ferrari Edition	Platinum	$1,983,850
	Total	$59,465,621

*Some totals are approximations due to currency conversions.