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Auctions - A Patek Philippe watch sells for Sfr 4.6 million

Auctions A Patek Philippe watch sells for Sfr 4.6 million

This is a world record for any stainless-steel wristwatch sold at auction.

The inaugural watch auctions held by Phillips, in Association with Bacs & Russo, on 9 and 10 May 2015 realised a combined total of SFr 29,649,363 / $ 31,834,734 / €28,411,944, selling 97 % by lot. The auctions sold four watches for over $1 million and established multiple records including for any stainless steel wristwatch, for any Rolex sold at auction, and for any Rolex Day-Date.

The Geneva Watch Auction One was dedicated to watches of the highest quality, including exceptionally rare examples and timepieces with fascinating provenance. The auction realised a total of SFr 23,469,963 / $ 25,199,934 / € 22,490,444 (pre-sale estimate: SFr 10.1 million to 17.3 million ), selling 96 % by lot. The highest price was paid for the exceptionally rare 1927 Patek Philippe single button chronograph which realised SFr 4,645,000 / $4,987,383 / €4,451,141, more than doubling its low estimate of SFr 1 million to 2 million and setting a new record price for a stainless steel wristwatch sold at auction (photo above).
At the auction on Sunday 10 May, after 21 minutes of bidding between clients from 4 continents, it eventually sold to an anonymous bidder on the telephone for SFr 4,645,000 / $4,987,383 / €4,451,141, more than doubling its low estimate of SFr 1 million to 2 million and setting a new record price for any stainless steel wristwatch sold at auction.
One of only two examples of this model, both of which were made for a retailer in South America, the other is a highlight of the Patek Philippe Museum.
 

Further highlights included a highly important and very rare Patek Philippe pink gold perpetual calendar chronograph with pink dial, moon phases and heavy Gay Frères bracelet from 1948 which sold for SFr 1,445,000 / $1,551,511 / €1,384,693 (estimate: SFr 800,000 to 1,400,000 ); the most renowned of four existing examples of the Rolex Cosmograph Daytona ‘Albino’ which was formerly a highlight in the personal collection of Eric Clapton, and which sold for SFr 1,325,000 / $1,422,666 / €1,269,701 (estimate: Sfr. 500,000 – 1,000,000) – a record for any Rolex sold at auction; and an exceptionally rare Rolex reference 6062 models featuring a triple calendar with phases of the moon which realized SFr 1,001,000 / $1,074,784 / €959,223 (estimate: SFr 250,000 to 450,000).

Phillips-Rolex-214

The Glamorous Day auction was dedicated to Rolex’s most prestigious model and offered 60 of the rarest examples, including unique models and watches with royal provenance. In a packed saleroom of over 300 people, every lot sold for a total of SFr 6,179,400 / $6,634,800 / €5,921,500 (pre-sale estimate: SFr 1.7 million to SFr 3.4 million.
The highest price was paid for ‘Big Kahuna’, one of only two known 6612 references made in platinum. It smashed the world record price for any Rolex Day-Date sold at auction realising SFr 473,000 / $507,865 / €453,259, more than doubling its pre-sale estimate of SFr 100,000 to 200,000. Multiple records were established for individual reference s and models.

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Patek Philippe enjoys outstanding renown and rare prestige, due to the constancy with which the Manufacture has applied its philosophy of excellence ever since it was founded.

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