Sotheby’s Geneva watch sale: €28.4m, record for the first Patek 3970

Sotheby’s sold about 28.4 million euros (26,317,216 Swiss francs) of watches in Geneva on 8 and 9 November 2026, led by the very first Patek Philippe 3970 and a Sky Moon Tourbillon. Total, records and top lots, based on the figures Sotheby’s published on 10 November.

How much did the Sotheby’s sale make?

The Important Watches sale totalled 26,317,216 Swiss francs, or about 28.4 million euros at the ECB reference rate of 13 November 2026 (1 euro to 0.9266 Swiss franc), or 32,145,128 dollars according to Sotheby’s. These prices include the hammer price and the buyer’s premium; estimates exclude premium. The house calls it its best result for a live watch sale in Geneva in more than a decade. It also reports record participation for its Geneva watch sales: more than 1,600 paddles, mainly from Switzerland, the Middle East and the United States. More than 40% of the lots sold beat their high estimate.

The first 3970 sells for 2.2 million euros

Offered as lot 88, “The First 3970” is a Patek Philippe reference 3970J in yellow gold made in 1986. Estimated at 1 to 3 million Swiss francs (about 1.08 to 3.24 million euros), it sold for 2,048,000 Swiss francs, about 2.21 million euros, or 2,298,560 dollars according to Sotheby’s. The auction house calls it an auction record for the reference. Its 36.2 mm case houses movement No. 875’000; the silvered dial has applied gold indexes, feuille hands and two-tone subdials. It comes with its Certificate of Origin.

Why movement No. 875’000 matters

Introduced in 1986 to succeed the reference 2499, the 3970 is a perpetual calendar chronograph with moon phases, to which Patek Philippe added leap year and 24-hour indications. The first series is believed to have been made for only around two years, in about a hundred examples. It is recognisable by its solid snap-on caseback; the second series moved to a screw-down caseback and took the name 3970E, “E” for étanche, or water-resistant. The manually wound calibre 27-70 Q starts from a Lemania 2310 base reworked by Patek Philippe.

Sky Moon and Daniels Millennium lead the way

At the top of the sale, Sotheby’s lists a Patek Philippe Sky Moon Tourbillon reference 5002 in yellow gold, circa 2007, sold for 2,292,000 Swiss francs, about 2.47 million euros. This double-dial watch combines twelve complications, including a tourbillon, a minute repeater and a sky chart. In another record, the 2001 George Daniels Millennium in yellow gold reached 1,536,000 Swiss francs, about 1.66 million euros, more than twice its high estimate: a record for the reference in yellow gold, according to Sotheby’s. We covered its estimates in our guide to the Geneva watch sales.

More than twenty independent brands on offer

Sotheby’s had never gathered so many independents in Geneva: more than twenty brands. At F.P. Journe, the 2004 Octa Chronographe Ruthenium in platinum, No. 06/99, reached 1,216,000 Swiss francs, about 1.31 million euros, a record for the reference in ruthenium. The 2002 Résonance in pink gold followed at 1,024,000 Swiss francs, about 1.11 million euros. The Urban Jürgensen Reference 2 made 358,400 francs (about 387,000 euros), the MB&F engraved by Eddy Jaquet 192,000 francs and the Ulysse Nardin Triple Jack 115,200 francs. Phillips and Christie’s held their sales the same weekend: see the Phillips record and Michael Schumacher’s F.P. Journe watches at Christie’s.

Cartier and gem-set watches in demand

All sixteen vintage Cartier references offered found buyers, according to Sotheby’s. A white gold and diamond-set Crash, circa 2000, made 256,000 Swiss francs, about 276,000 euros. Gem-set men’s watches also drove the bidding. A diamond-set Nautilus 40th Anniversary 5976/1G reached 281,600 francs and a unique skeletonised, diamond-set Daniel Roth C117 243,200 francs. A white gold Breguet Classique Tourbillon 3357 sold for 96,000 francs. More Cartier watches will go under the hammer at Sotheby’s in New York in December. At Phillips, a 1924 Cartier mystery clock had passed 5 million euros.

Information checked on 15 November 2026. Sources: Sotheby’s results press release of 10 November 2026, Sotheby’s, Important Watches sale page, lot 88 page, Sotheby’s, lot 30 page, Sotheby’s, ECB reference rates.