The PHILLIPS Hong Kong Watch Auction: XX takes place on 23-25 May, 2025, at our West Kowloon headquarters. The auction includes more than 280 of the world's finest watches – and though we are loath to boast, we truly think it's one of the best catalogues we've ever put together. We'll be highlighting a number of the most interesting lots and stories featured in the sale right here, including all the timepieces highlighted below.
– By Logan Baker
Lot 908: A 1937 Patek Philippe Calatrava Ref. 96 in 18k Yellow Gold with Black Dial
Estimate: HKD $120,000 - 240,000
Gertrude Wong, Head of Sale, Specialist, Hong Kong
Simplicity, when done right, is everlasting. And for me, this ref. 96 is exactly that. The model distilled the essence of an idea by the Stern family and created clarity during the mist of turmoil from the great depression. What could’ve been decorated with lavish engravings, fancy case shape which Patek were surely more than capable of, were deliberately held back. The result was the simplest, most approachable yet profound design.
This yellow gold ref. 96 nearly 88 years old, just delights me with its stunning condition. It’s rare and incredible black dial with its long gold signature is truly satisfying. Sometimes, collecting is as simple as this, wearing a watch that makes you smile.
Lot 829: A Circa 1995 Rolex Cosmograph Daytona Ref. 16588SARO
Estimate: HKD $600,000 - 1,200,000
Alvin Lau, Specialist
Nowadays, you see gem-set Daytonas a lot more often, but that wasn’t the case back in the 4-digit and 5-digit era. The reference 16588 is a real gem, featuring stunning baguette-cut pink sapphires on the bezel and pavé-set diamonds on the dial, making it even rarer than its white gold sibling, the 16589.
What really makes this watch special is its condition. It’s being offered directly from the original owner, who bought it in Hong Kong back in 1997. He only wore it a few times and then kept it tucked away in a safe for 28 years, which explains the lovely patina on the case — it’s in fantastic, unpolished condition! The caseback still has the green sticker perfectly preserved and it comes as a complete full set with all the original accessories, including a notepad and pen, plus the purchase invoice from 1997.
With only a few of these have come back to the market, these early gem-set Daytonas were often reserved for Rolex’s most important clients back then, making them some of the most collectible watches from that era.
Lot 904: A Circa 1991 Patek Philippe Perpetual Calendar Chronograph Ref. 3970E in Platinum
Estimate: HKD $800,000 - 1,600,000
Yunyi Xu, Cataloguer
The 3970 has gained significant appeal and attention amongst collectors in recent years and that’s no surprise - it is the perfect example of a Patek Philippe perpetual calendar chronograph that retains the vintage aesthetica of the legendary 2499 and 1518, while updated with modern charm, especially in white gold and platinum. Adding a leap year and 24-hour indication using a Lemania-based movement for the first time, the reference was produced from 1986 to the mid-2000s.
I personally love watches designed from around this era, balancing tradition with subtle innovation. This particular example in platinum is refined and extremely elegant. At 36mm diameter, it fits most wrists and is not too thick either for a perpetual calendar chronograph. To me, it is certainly the more versatile and wearable between the “endgame” 2499 and the more imposing 5004. I am also fond of the first and second series dial with beautiful feuille hands and rectangular/baton indexes. With crisp hallmarks and its full set of accessories, what’s there not to admire about this platinum 3970E?
Lot 990: A Circa 2020 Vacheron Constantin Métiers d’Art Mécaniques Gravées in Platinum
Estimate: HKD $200,000 - 360,000
Logan Baker, Senior Editorial Manager
Released in 2015 for Vacheron Constantin’s 260th anniversary, this Métiers d’Art piece isn’t just ornate, it’s obsessive. The dial and movement overflow with hand-engraved acanthus leaves, a nod to ancient Greek architecture and Vacheron’s deep roots in decorative watchmaking. It’s all done by a single engraver, shaving away 0.2mm at a time. The depth never exceeds 0.35mm, but it’s more than enough to fall into.
The 39mm platinum case houses the manual-wind caliber 4400, which feels almost incidental — until you flip the watch over and realize the movement is just as elaborately carved.
I don't consider this a watch for everyday wear. It’s for collectors who appreciate the difference between a handmade object and everything else.