Patek Philippe Ref 5016 breaks record at Antiquorum



2015-06-26 13:31:21

Patek Philippe Ref 5016 breaks record at Antiquorum

A Patek Philippe Ref 5016 sold for $788,500 in Geneva on November 10.

A Patek Philippe Ref 5016 in pink gold realised $788,655 at Antiquorum's Important Modern and Vintage Timepieces auction in Geneva, Switzerland on November 10.

In doing so it broke the previous $780,000 record for the reference, set in 2009.

The watch features a tourbillon minute repeater and a perpetual calendar. While three such examples have appeared at auction in recent years, this is the first to feature a black dial.

Patek Philippe black dial The new Patek Philippe Ref 5016 record holder

It realised an 11% increase on its estimate of $490,356-708,292.

Julien Schaerer, managing director of Antiquorum Geneva, commented: "As confirmed by today's sale, collectors continue to aggressively compete for timepieces that epitomize the top echelon of the market."

Another watch by Patek Philippe, the earliest known Ref 3448 with leap year indicator, made $252,533.

Patek Philippe Ref 3448 The Patek Philippe Ref 3448 was first produced in 1976

The 18k gold watch was produced in 1976 and features a perpetual calendar with Moon phases, and Roman numerals to indicate the leap year.

It is the first time that this particular example has appeared on the market, having been kept in private hands since it was originally bought.

A space flown Omega Speedmaster was another highlight, achieving $64,018.

Cosmonaut Anatoly Artsebarsky wore it during his five month stint on the International Space Station in 1991, during which time he spent over 33 hours in open space.

A spokesperson for Antiquorum commented that "timepieces with rare provenance and historical interest remain highly sought-after by the global collector community."

A three-day watch sale at Christie's Geneva closed yesterday after setting 50 world records for 50 watches and realising total sales of $43.9m.

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