PATEK PHILIPPE WRISTWATCH REALISES SFr. 3.3 MILLION / €3 MILLION / $3.3 MILLION
5 WATCHES SELL FOR OVER $1 MILLION WITH MULTIPLE WORLD RECORDS ESTABLISHED
GENEVA – 8 November 2015 – The Geneva Watch Auction: Two held by Phillips, in Association with Bacs & Russo, on 7 and 8 November 2015 realised SFr. 27,844,575 / €25,617,009 / $27,844,575, selling 95% by lot (pre-sale estimate: SFr. 13.7 million to 24.8 million). The auction sold five lots for over $1 million and was led by a one of only two known examples of a stainless steel Patek Philippe reference 1436 from the 1940s which sold for SFr. 3,301.000 (€3,036,920 / $3,301,000).
The results of this auction complement the success of the two inaugural watch sales in May that realised SFr. 29.6 million (€22.5 million / $31.8 million), with four watches selling for over $1 million. The next auction of watches to be held by Phillips, in Association with Bacs & Russo, will be The Hong Kong Watch Auction: One on 1 December 2015. The catalogue is available online here.
Aurel Bacs, Auctioneer and Senior Consultant: “Following on from our inaugural auctions in May, we have seen that collectors continue to be drawn to the rarest and most exceptional watches, and that competition for these pieces is international and intense. The collectors in a packed saleroom of over 400 people faced competition from a notable number of Asian clients, as well as online bidders from 30 countries who bid at all price levels, including a bid of $1.6 million through Phillips recently-launched app. Together with the Daytona ‘Albino’ which made $1.4 million in May, we are also pleased to have now sold three Rolex watches above the $1 million-mark this year.”
The top 5 prices of the auction:
* Patek Philippe: One of only two known examples of a Patek Philippe split-seconds chronograph reference 1436 in steel from the 1940s sold for SFr. 3,301.000 (€3,036,920 / $3,301,000) (estimate: SFr. 1.5 million to 3 million) – a world record price for this reference. Further details can be found here.
* Patek Philippe: The only known reference 2499 in yellow gold to be fitted with a champagne coloured dial sold for SFr. 1,805,000 (€1,660,600 / $1,805,000) against an estimate of SFr. 800,000 to 1,400,000. Further details can be found here.
* Rolex: An extremely rare, pink gold, star-dial reference 6062 - perhaps the best preserved ‘Stelline’ in existence - sold for SFr. 1,265,000 (€1,163,000 / $1,265,000) (estimate: SFr. 500,000 to 1,000,000) - a world record price for this reference. Further details can be found here.
* Rolex: ‘La Caravelle’, an extremely rare reference 6102 with a cloisonné dial by Stern Frères, sold for SFr. 1,235,000 (€1,136,200 / $1,235,000) against an estimate of SFr. 350,000 to 700,000 - a world record price for this reference and for any cloisonné enamel Rolex. Further details can be found here.
* Patek Philippe: The only publicly known reference 1463 in steel featuring a possibly unique dial sold for SFr. 1,205,000 (€1,108,600 / $1,205,000) against an estimate of SFr. 250,000 to 500,000 - a world record price for this reference. Further details can be found here.
* A closely watched highlight was the Rolex Submariner worn by Sir Roger Moore in the James Bond film ‘Live and Let Die’ which sold for SFr. 365,000 (€335,000 / $365,000) against an estimate of SFr. 150,000 to 250,000. Further details can be found here.
6th ‘Only Watch’ Charity Auction
7 November 2015 - (Separate press release available on request).
On 7 November Phillips, in Association with Bacs & Russo, were privileged to host the 6th edition of the biennial ‘Only Watch’ auction which realised SFr. 11,268,000 / €10,366,560 / $11,268,000 - the charity auction’s highest ever total.
The auction offered 44 unique watches, each donated by a leading watch manufacturer, with all proceeds of the auction benefitting research into Duchenne Muscular Dystrophy. The highest price was paid for a Patek Philippe ref. 5016A which sold to a standing ovation for SFr. 7,300,000 / €6,716,000 / $7,300,000 - the highest price ever paid for a wristwatch sold at auction.
Aurel Bacs of Phillips, in Association with Bacs & Russo: “It has been a privilege for us to have hosted the 6th edition of Only Watch, and to have been able to play a part in supporting such a worthy cause. This project has seen the world of watches come together with incredible generosity, not least the 44 manufacturers who donated unique timepieces.”
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Phillips is a leading global platform for buying and selling 20th and 21st Century art and design. With dedicated expertise in the areas of Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London and Geneva, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world.
*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.
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