Phillips in Association with Bacs & Russo announces the sale of lot 988 from the upcoming Hong Kong Watch Auction XII, an extremely rare Patek Philippe reference 5208R in pink gold (Estimate: HK$5,500,000 - 7,500,000/ €590,000-805,000/ $705,000-962,000), will be sold to raise funds for the Fondazione Cannavaro Ferrara. The Fondazione Cannavaro Ferrara was established in 2005 by the watch’s original owner, Italian football legend and World Cup winner, Fabio Cannavaro together with his brother Paolo Cannavaro who is also a professional footballer, and his former teammate Ciro Ferrara and his brother Vincenzo Ferrara, to provide concrete support to their home city. The Fondazione has raised more than €3M to help guarantee a better future for at-risk youth and vulnerable families based in Naples, Italy. Through sport and educational programs, it offers children a straight path towards their personal development and integration into society.
:“We are very honoured to have been entrusted with the sale of this watch, a very rare example of Patek Philippe reference 5208R, and to our knowledge, the very first time in this case material to be offered at auction," said Thomas Perazzi, Head of Watches, Asia, Phillips. The watch comes with incredible provenance as it was originally owned and had been worn by Fabio Cannavaro, captain of the World Cup winning Italian national football team in 2006. In addition, we are delighted to have reached an agreement with the consignor of the watch to pledge part of the proceeds of the sale to the footballer’s Fondazione in order to support its charitable mission.”
Dubbed by collectors as one of the most important references created in recent times, the reference 5208 epitomizes the essence of Patek Philippe featuring for the first time a combination of a minute repeater, perpetual calendar and a single-button chronograph function, all of which can be considered as the manufacturer’s most prized complications. Requiring intensive craftsmanship to create such a monumental timepiece, it is estimated that only 10 examples of the reference are produced annually. Moreover, it is the first time for the reference in pink gold to be presented in an auction, providing a rare opportunity for esteemed collectors to acquire one of the contemporary grails that also helps a good cause.
