Rare Patek Philippe watch makes $636,000 at Christie's

paulfrasercollectibles

2015-06-26 12:52:22

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Rare Patek Philippe watch makes $636,000 at Christie's

A rare Patek Philippe watch, the brand's second most complicated, made $636,000 in Hong Kong

The Christie's sale of Important Watches today (May 30) was highlighted by an extremely rare Patek Philippe wristwatch.

Patek Philippe Ref. 5106The second most complicated watch produced by Patek Philippe

Ref. 5016 starred as the main attraction in a sale dominated by Patek Philippe items. The watch is the second most complicated ever produced by the luxury marque, surpassed only by the Sky Moon Tourbillion, ref. 5002. The platinum minute repeating tourbillion watch boasts a perpetual calendar with retrograde dates, moon phases and leap year indication. Accompanied by its certificate of origin and the original presentation box, the piece sold for HK$4.9m ($636,371), just below its high estimate of HK$5m.As predicted by Paul Fraser Collectibles, Patek Philippe's divisive cloisonn enamel dialled watches proved a hit at the Hong Kong auction, with The Lighthouse selling for HK$3.14m ($406,408). The watches were initially snubbed when released, but the 30.8% increase on estimate achieved by The Lighthouse could mark the beginning of a resurgence for the colourful timepieces. The sale featured yet another oddity from Patek Philippe, this time in the form of a unique cloisonn enamel desk clock. The solar-powered clock is one of just a few made by the brand, with each piece crafted with a unique theme. This Italian Renaissance-inspired clock sold at HK$2.3m ($297,687), almost double the high estimate of HK$1.2m.Collectors should check out our item of the day, a classic Longines Olympic Series watch.

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