It is time to dig in for the fall auction season, and with over 1,225 lots crossing the block across the major houses, the sheer volume is enough to induce overwhelming anxiety about the workload ahead. Aside from a small preview of watches held by Phillips in New York a few weeks back, time has been in short supply for handling these pieces personally. This reality leaves watch journalists and collectors increasingly unnerved as prices rise and audiences become far more educated. Today’s buyers possess the discernment to pick out microscopic details you simply cannot notice when glancing at hundreds of watches in rapid succession, yet can easily find if you examine one or two pieces closely—a luxury of time few observers have. Caveat emptor remains the golden rule of the season, though upcoming previews in Geneva will offer a clearer look at the physical condition of the inventory.
In case you missed it, earlier coverage by colleagues highlighted several standout pieces for these exact auctions, which led to some quick editing of preview notes and a slightly lamenting text message about certain targeted bidding spots being blown up in public view. All is fair in love and watch coverage, however, and readers are bound to have their own favorites revealed as the catalogues are dissected. So, let us dive directly into what has caught the eye as the Geneva marathon approaches.
Christie’s – November 9, 2026
The market’s primary attention naturally centers on F.P. Journe. The brand’s headquarters sits just a 15-minute walk from the Christie’s auction room in Geneva at the Four Seasons Hotel des Bergues, across the Rhône and into the Old Town. The intense demand for Journe timepieces is not a situation manufactured by the brand, and it has undeniably caused severe logistical headaches for Montres Journe, which will never be able to produce enough supply to satisfy global cravings. For now, buyers continue to turn aggressively to the secondary market, driving prices ever upward. How long this trajectory can sustain itself is the central question, and this fall season will serve as a crucial test.
Christie’s moves last in this high-stakes chess game among the four major auction houses, meaning that by November 9, the market will already have a reliable barometer for how Journe pieces are performing. Even so, they are offering a number of major big-ticket lots, led by an early, third-generation brass movement Tourbillon topping the estimates at CHF 650,000 to CHF 1,400,000. Two watches formerly belonging to Michael Schumacher—a Ruthenium Tourbillon and a Chronomètre à Résonance—open at the exact same price bracket. These exact pieces were sold by Christie’s just two years ago for CHF 642,000 and CHF 390,600, respectively. While celebrity provenance often stretches credulity, those baseline numbers sit below what the broader market would dictate today even without Schumacher’s legendary name attached to them.
Other significant Journe lots abound, headlined at the high end by a brass movement Resonance estimated at CHF 500,000 to CHF 1,000,000. While such figures for an independent watch can feel mind-boggling, the production numbers are vastly lower than comparable vintage Patek Philippe references commanding far higher prices, making the valuation a subject of ongoing debate among collectors. More compelling to many purists is the complete set of Vagabondage I, II, and III, which offer an aesthetic departure from quintessential Journe design and appear only rarely on the open market. While they diverge from the maker’s classic look, demand for rare independent complications is expected to carry them forward.
Shifting to Patek Philippe, the catalog features several heavy hitters, including a fresh-to-market Khanjar Nautilus reference 3700 that is undeniably spectacular. Featuring a yellow Khanjar emblem matching the yellow-accented case, complete with all supporting documents and its original presentation box, it stands as one of the most visually striking watches of the fall season, though shifting market dynamics make buyer appetite difficult to predict. After a five-year hiatus, a Patek Philippe reference 1518 bearing movement number 867’235 has also returned to the public market. The original owner’s personalized engraving on the caseback adds character, and the watch presents in strong overall condition. Having sold for CHF 400,000 in 2021, it now carries a starting estimate of CHF 500,000.
For enthusiasts of vintage complications, a reference 2438 from 1955 offers a waterproof case combined with sporty baton indices. Because the reference 2438 has traditionally enjoyed higher demand than the third-series 2497, its CHF 350,000 starting price appears more than fair for an example in such pristine condition. For those with slightly different budgetary horizons, an extraordinary reference 2551 in white gold featuring a diamond dial and a Serpico y Laino retailer signature presents an intriguing proposition. It last changed hands at Monaco Legend Group for €156,250 in 2023, making its CHF 80,000 starting price remarkably reasonable.
The independent sector rounds out Christie’s offerings with several strong lots from makers whose pricing has not yet reached astronomical heights. Grönefeld recently introduced an intricate yet compact timepiece inspired by past achievements, drawing attention to their rare Parallax Tourbillon coming up for sale. While Kari Voutilainen prices have soared, a 28SC model featuring an onyx center dial remains a striking piece, though it commands an expensive estimate of CHF 300,000 to CHF 500,000 alongside personalized dial initials. Vianney Halter may also be primed for a market resurgence, making his Trio Grand Date feel like a potential bargain at a CHF 50,000 starting price. Finally, a unique piece by Sylvain Pinaud is anticipated to surpass its CHF 200,000 high estimate following heightened demand driven by his tourbillon launch earlier this year.
Antiquorum – November 7 and 8, 2026
Navigating Antiquorum’s catalogue is invariably the most daunting task of the auction season, yet it remains the primary hunting ground for collectors seeking genuine value. Historically the dominant force in the watch auction market—unearthing the rarest pieces and setting world records through close ties with the late Philippe Stern, which directly populated the Patek Philippe Museum—Antiquorum has evolved its business model. Today, they account for nearly half of all lots offered in Geneva this fall with 603 entries. No other auction house dedicates comparable resources to affordable vintage watches, making a deep dive through their catalogue essential. This approach yields hidden gems such as a co-branded Valjoux 886-powered triple calendar chronograph bearing Antiquorum’s own name, a rare 1930s Robert Cart jump-hour wristwatch in white gold, and a multi-tone black dial Omega reference CK 2077.
A notable highlight across the Antiquorum inventory is a curated selection of approximately 20 school watches. Crafted by students at various horological institutions between the 1920s and 1970s, these pieces frequently match or exceed the build quality of commercial offerings from established brands. Collectors can secure watches that mirror Patek Philippe designs in everything but name—such as a piece utilizing a reference 2509 "Vacuum" Borgel case—alongside student-built Zeniths and 1970s chronographs. Pocket watch enthusiasts will find similarly impressive craftsmanship in Niello silver cases and a perpetual calendar originating from the Vallée de Joux.
While Antiquorum’s layout tends to be scattershot rather than neatly categorized, they remain acutely aware of current market trends. Alongside a handful of Journe pieces, including a brass-movement Octa Calendrier, the catalogue features shaped Patek Philippe watches. These include a reference 1450 "Top Hat" in yellow gold and an elongated, curved, hooded-lug platinum watch with diamond indices destined originally for the American market. Another potential bargain is the platinum reference 2422, estimated at CHF 10,000 to CHF 15,000, which offers a slightly larger and more wearable presence on the wrist.
Other notable finds include an oversized Leonidas split-seconds chronograph with a black dial, carrying an estimate of CHF 20,000 to CHF 30,000 that will likely be eclipsed by enthusiastic bidding. For buyers operating at a higher price point, a matte gilt black dial Rolex reference 6238 in steel, reportedly delivered to the Peruvian Air Force, offers a compelling alternative amid a recent influx of similar black-dial examples starting at CHF 80,000.
Middle Eastern commemorative dials featuring portraits of King Saud and King Faisal offer a niche appeal, with Antiquorum presenting four such pieces sourced directly from a Swiss family whose ancestor acquired them while working in Middle Eastern trade. Among these, the Universal Genève examples stand out, particularly a pink-gold square model and a striking pink-gold disco volante featuring an enamel dial. In pink gold, a Vacheron Constantin reference 4560 triple calendar with strong hallmarks represents a compelling proposition with a CHF 8,000 starting bid, alongside an Audemars Piguet that marked the very first automatic tourbillon model ever produced.
Finally, Antiquorum continues to champion esoteric items that other houses frequently overlook, such as automata and enameled pocket watches. Navigating these categories often requires specialized expertise, but the rewards can be delightful. A silver singing bird box carries a starting price of CHF 2,000, while an exquisitely enameled snuff box incorporating a hidden watch and a musical movement, crafted by Henri Neisser in 1815, starts at CHF 70,000. Most remarkable among these curiosities is a Moulinié Bautte & Cie à Genève perfume sprinkler and watch built in the form of a flintlock pistol. Created for the Chinese market, the piece features elaborate enameling and pearls, with an ingenious mechanism where cocking the hammers winds the movement, depresses the triggers, and allows the barrels to "fire" while ejecting gold lotus flowers that disperse perfume. With a starting price of CHF 220,000 and servicing requirements best left to a tiny handful of specialists worldwide, it stands as a monument to historical watchmaking ingenuity.
