Patek Philippe - The Hong Kong Watch Auction: XVI Hong Kong Wednesday, May 24, 2023 | Phillips

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  • Manufacturer: Patek Philippe
    Year: Circa 2010
    Reference No: 5016P-018
    Movement No: 1’905’212
    Case No: 4’498’277
    Material: Platinum
    Calibre: Manual, cal. RTO 27 PS QR, 28 jewels
    Bracelet/Strap: Crocodile
    Clasp/Buckle: Platinum Patek Philippe pin buckle
    Dimensions: 37mm diameter
    Signed: Case, dial, movement and buckle signed
    Accessories: Accompanied by Patek Philippe Certificate of Origin stamped Oberleitner Germany and dated 15th May 2010, leather folio, Poinçon de Genève certificate, instruction manual, product literature, hang tag, additional solid caseback, setting pin, presentation box, outer packaging and slipcase.

  • Catalogue Essay

    Produced between 1993 and 2011, Patek Philippe’s ref. 5016 was once the most complicated wristwatch ever envisioned by the manufacturer. Combining the three most arduous complications in watchmaking: a minute repeater, a perpetual calendar and a tourbillon, this model is further elevated with a moon phase and retrograde date. It wasn’t until 2001 and the launch of the Sky Moon Tourbillon, ref. 5002, that Patek Philippe presented a more complicated piece.

    Offered in yellow, white and pink gold, along with platinum, this reference is fitted with silvered or black dials, each bearing movement number printed below the moon phase – paying homage to the observatory chronometer pocket watches of the past. It is believed that approximately 200 examples were manufactured until production ended in 2011.

    The retrograde perpetual calendar function is rarely employed in Patek Philippe wristwatches, having only graced a few select, future references, such as the 5050, the 5059, the 5159 and the 5160. The retrograde date has a fly-back hand, and depending on the month and leap year cycle, the hand habitually bounces back to the first of the month after the 28th, 29th, 30th, or 31st. The fast flyback of the date hand is accomplished with a spiral spring and an ingenious rebound limiter mechanism developed and perfected by Patek Philippe. Further displaying Breguet numerals on the dial, the ref. 5016 offers tranquillity with its phenomenal presentation, with the perpetual calendar indications displayed in a balanced layout.

    Housed in a relatively compact 37mm diameter case, the expansive layout and arched lugs allow for significant presence on the wrist without any hint of ostentatiousness. Through its sapphire caseback, the wearer is invited to admire the magnificent manual winding cal. RTO 27 PS QR. Each of the 506 components compressed into this little giant is hand-finished to perfection. The tourbillon synchronises with the euphonious chimes of the minute repeater in a poetic fashion.

    The present lot is fresh to the public market and the 14th example with -018 dial to be identified. This masterpiece is beautifully preserved and is further completed with its original accessories, combined with incredible charm and rarity, a piece that could be the crown jewel in any collection.

  • Artist Biography

    Patek Philippe

    Swiss • 1839

    Since its founding in 1839, this famous Geneva-based firm has been surprising its clientele with superbly crafted timepieces fitted with watchmaking's most prestigious complications. Traditional and conservative designs are found across Patek Philippe's watches made throughout their history — the utmost in understated elegance.

    Well-known for the Graves Supercomplication — a highly complicated pocket watch that was the world’s most complicated watch for 50 years — this family-owned brand has earned a reputation of excellence around the world. Patek's complicated vintage watches hold the highest number of world records for results achieved at auction compared with any other brand. For collectors, key models include the reference 1518, the world's first serially produced perpetual calendar chronograph, and its successor, the reference 2499. Other famous models include perpetual calendars such as the ref. 1526, ref. 3448 and 3450, chronographs such as the reference 130, 530 and 1463, as well as reference 1436 and 1563 split seconds chronographs. Patek is also well-known for their classically styled, time-only "Calatrava" dress watches, and the "Nautilus," an iconic luxury sports watch first introduced in 1976 as the reference 3700 that is still in production today.

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Σ925

Ref. 5016P-018
An exceedingly rare and important platinum minute repeating perpetual calendar tourbillon wristwatch with small seconds, retrograde date, moon phase, leap year indication, Breguet numerals, black dial, additional solid caseback, Certificate of Origin and presentation box

Circa 2010
37mm diameter
Case, dial, movement and buckle signed

Estimate
HK$3,000,000 - 6,000,000 
€350,000-701,000
$385,000-769,000

Sold for HK$5,461,000

Contact Specialist

Thomas Perazzi
Head of Watches, Asia
+852 2318 2001
WatchesHK@phillips.com

The Hong Kong Watch Auction: XVI

Hong Kong Auction 24 - 25 May 2023