Phillips Auction House in association with Bacs & Russo held its inaugural sale of watches in Hong Kong. The auction realised a total of US$15.2 million and breaking the record of a Patek Phillipe watch of US$1.6million making it the most expensive wristwatch in Asia. The private cocktail reception allowed guests such as William Fung, Sylvia Fung, Antonia Li, Vicky Cheng, and Manolo Chellaram to preview a number of the watches before they went on the auction block.