The watches fueling this million-dollar surge come from unlikely sources. The most money is going into brands that to the average person – familiar to people like Tag Heuer, Omega and Cartier – seem like Sanskrit. It’s independent watchmakers like FP Jern, Rexhep Rexhep, Kari Voutilainen, Philippe Dufour and Nospmis Remoh who are making seven-figure sales. (And if you figured out that I made that last one up, congratulations… you know the ball.)
The increased sales of independent watch makers is largely due to a subgroup of collectors who recognize them as fine artists creating rare masterpieces rather than mass-produced products. “We’re getting a new class of collectors who were or are art collectors,” Boutros says.
This is revealed by the numbers. While the list starts off with an extensive list of potentially high-priced watches with two historic Swiss brands, it quickly turns to smaller names. Here is a list of the brands and watch manufacturers with the most million-dollar watches as of 2015.
1.Patek Philippe: 243
2. Rolex: 93
3. FP Journal: 63
4. Richard Mille: 42
5. Philippe Dufour: 14
6. Audemars Piguet: 10
7. George Daniels: 9
8. Breguet: 9
9. Cartier: 8
10. Kari Voutilainen: 5 (All sold out last week; Philips in four)
11. Rexhep Rexhep (including Acrivia): 4
And the gap between the top two and the rest of the pack is starting to narrow. Patek has sold the most million-dollar-plus pieces—nineteen—in 2026. But FP is not lagging behind in the matter of Jern 16 also. Rolex? So far this year, only seven have been sold in the auction at a price of crores or more.
Boutros says another change has driven the auction values of these independent brands: collectors are increasingly interested in purchasing from living watchmakers. He compared it to the value of Picasso’s paintings at auction if he were still alive today – and how art collectors would rush to get close to the living greatness. Boutros explains, “They get a chance to interact with (watchmakers), and they realize that there will come an era of watch production where the maker is alive – and then there will come an era when the maker will either retire or, God forbid, is no longer with us.” “So there is a class of collectors who are coming from the art world who are very addicted to it.”
What happens when million-dollar watches become worthless?
Even though it has become more common, a watch selling for over a million dollars has a massive impact on most brands and collectors. It is still quite rare that breaking the seven-figure barrier attracts the attention of a watchmaker. “Obviously, they are very pleased that the market appreciates their items so much,” Boutros says. “But it’s kind of a blessing and a curse… They know they’re going to get a lot of requests from people to buy their stuff. So it creates a little headache.”
And in a market where watch collectors at the upper echelons are concerned about the investment performance of their pieces, seeing a watch – or a watchmaker – selling for such a large sum piques interest. “They look at it and think, ‘If I buy a watch from him, I’ll have money right away,'” Boutros explains. (Eric Wind, however, would caution against that bandwagon investing mentality: The friction involved in selling such an expensive piece and the commission any seller takes on the sale complicate the math.)
