Modern Patek Philippe watches lead Antiquorum sale

PocketPete

PocketPete

2015-08-19 15:44:13

The most recent Antiquorum sale of fine timepieces in Hong Kong was topped by rare modern watches from Patek Philippe.

The two-day sale at the Mandarin Oriental Hong Kong hotel drew a packed house, with standing-room only for attendees and bids flying in from as far as Great Britain, Italy, the United States and Switzerland.

In all 732 lots crossed the block, bringing a total of HKD$ 81,240,250 (US$1,047,8016), with many watches soaring past their pre-sale estimates.

“We noticed particularly aggressive bidding from collectors in the room and on the internet for exceptional examples of modern timepieces offered in the auction,” said Evan Zimmermann, President & CEO, Antiquorum Auctioneers. “We were especially impressed by the remarkable results for the Patek Philippe Ref. 5033P and Ref. 5971P in today’s sale.”

The platinum and diamond Patek Philippe Ref. 5033P Minute Repeater drew the highest price of the event. Made circa 2011, the "exceptionally rare and highly sought-after" watch was the subject of several minutes of frantic bidding, before the hammer came down on a final price of HKD$5,430,000 (US$700,337).

The platinum and baguette diamond-set Patek Philippe Ref.5971P also drew an outstanding price. Dating from 2008, the bezel wristwatch featured a perpetual calendar, moon phases and 24 hour indication, and sold with its original paperwork for HKD$2,370,000 (US$305,672).

Patek timepieces throughout the sale were the subject of fierce competition from bidders, including a vintage 1969 Patek Philippe Ref.2499 Third Series in 18K Yellow Gold which sold for HKD$3,630,000 (US$305,672).

But there were also impressive results for other manufacturers, including an iconic Rolex Ref. 6241 14K gold Daytona 'Paul Newman' watch which realized HKD$2,850,000 (US$367,580) and a Rolex Ref. 6239 Daytona in 18K yellow gold which fetched HKD$550,000 (US$70,936).

Antiquorum‘s next auction takes place in New York on September 30.

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