27 November 2018

Phillips, The Worldwide Leader in Watch Auctions, Achieves    

 

HK$110.3 Million During The Hong Kong Watch Auction: SEVEN

 

Concluding the Annual Total of Watch Auctions in Asia with a

Total of HK$235 Million / US$30 Million

 

 

 

Sale Total: HK$110,320,000 / US$14,098,896

Hong Kong, 27 November 2018

 

Lots Sold: 241 | Lots Offered: 259

Sold by Lot: 93% | Sold by Value: 89%

 

 

HONG KONG – 27 November 2018 – Phillips, in Association with Bacs & Russo, achieved HK$110.3 million / US$14 million during The Hong Kong Watch Auction: SEVEN – remaining the number one destination for collectors worldwide by bringing the combined total achieved thus far this fall to US$35.3 million, which includes our recent auction in Geneva. In this tightly curated sale, a total of 241 collectible timepieces of the highest quality attracted collectors from 50 countries across six continents, including a record number of over 510 online bidders. Particularly strong results were achieved for vintage wristwatches, and antique pocket watches such as the Patek Philippe pocket watch with tourbillon, recipient of the first class prize at the Geneva 1929 Observatory timing competition.

 

Thomas Perazzi, Head of Watches, Asia, and Auctioneer, said: “As Phillips continues to expand its presence in Asia and offer best-in-class quality, service and passionate scholarship to collectors in the region, this season we saw astonish international participation, with collectors bidding from across six continents, resulting in extraordinary results across the board. The community of watch collectors in Asia showed particularly fierce competition for vintage wristwatches, demonstrating a growing interest in this field. In a crowded room, with an unprecedented number of online, telephone and room bidders, numerous watches soared above their high estimates, setting many exceptional prices.”

 

Aurel Bacs, Senior Consultant and Auctioneer, said: “Following our blockbuster sales in Geneva, the Hong Kong Watch Auction: SEVEN achieved an impressive HK$110.3 million / US$14 million. The three top lots beautifully demonstrate how varied the market is, and how well Phillips responds to such a market – with the antique Patek Philippe pocket watch tripling its estimate, modern limited wristwatches by Patek Philippe igniting fierce competition, and the fresh to market Paul Newman Ref. 6241 flying way above its pre-sale low estimate. In this passionate and international marketplace, collectors reacted enthusiastically, resulting in an outstanding sold rate of 93% by lot. We are now very much looking forward to our December 5th New York auction entitled ‘STYLED. Timeless Watches & How to Wear Them’, a unique and groundbreaking partnership with Mr Porter and The Rake.”

 

TOP TEN LOTS

Lot

Description

Estimate

Price Achieved

876

ROLEX, Ref. 6241 “John Player Special”

A yellow gold chronograph wristwatch with black "Paul Newman" dial displaying contrasting gold registers

HK$3,900,000 - 7,800,000

HK$6,100,000

US$779,580

888

PATEK PHILIPPE, Ref. 5004A-001

A stainless steel perpetual calendar split seconds chronograph wristwatch with moon phases

HK$3,200,000 - 5,000,000

HK$4,300,000

US$549,540

840

PATEK PHILIPPE

A yellow gold open face one-minute tourbillon “Extra” pocket chronometer, with James C. Pellaton tourbillon carriage, recipient of the first class prize at the Geneva 1929 Observatory timing competition

HK$1,000,000 - 1,500,000

HK$3,280,000

US$419,184

1049

PATEK PHILIPPE, Ref. 5020P

A platinum perpetual calendar chronograph wristwatch with moon phases, and additional silvered dial with Breguet numerals

HK$1,800,000 - 4,000,000

HK$3,280,000

US$419,184

834

PATEK PHILIPPE, Ref. 3448

A white gold perpetual calendar wristwatch with moon phases and inverted date numerals

HK$1,600,000 - 3,200,000

HK$3,220,000

US$411,516

1059

PATEK PHILIPPE, Ref. 1518

A yellow gold perpetual calendar chronograph with moonphases

HK$1,600,000 - 3,200,000

HK$3,100,000

US$396,180

1022

PATEK PHILIPPE, Ref. 5004J-027

A yellow gold perpetual calendar split seconds chronograph wristwatch with moon phases, and special luminous monogram dial

HK$2,500,000 - 4,000,000

HK$2,920,000

US$373,176

871

PATEK PHILIPPE, Ref. 130

A stainless steel chronograph wristwatch with two tone silvered sector dial, and bracelet

HK$2,000,000 - 4,000,000

HK$2,740,000

US$350,172

919

PATEK PHILIPPE, Ref. 5079J-001

A yellow gold “Cathedral” minute repeating wristwatch with enamel dial

HK$2,000,000 - 4,000,000

HK$2,620,000

US$334,836

844

PATEK PHILIPPE, Ref. 1463

A yellow gold chronograph wristwatch with Breguet numerals

HK$1,200,000 - 2,350,000

HK$2,250,000

US$287,550


ABOUT PHILLIPS IN ASSOCIATION WITH BACS & RUSSO

The team of specialists at Phillips Watches is dedicated to an uncompromised approach to quality, transparency, and client service, achieving a sale total of $112 million in 2017 – its second consecutive year as the worldwide market leader in watch auctions.

 

A selection of our recent record-breaking prices:

 

1          Paul Newman’s Rolex “Paul Newman” Daytona reference 6239 (CHF 17,709,894/US$17,752,500) – New York Auction: Winning Icons – 26 October 2017 – ­­­Highest result ever achieved for any wristwatch at auction.

2         Patek Philippe reference 1518 in stainless steel (CHF 11,020,000 /US$11,112,020) – Geneva Watch Auction: FOUR – 12 November 2016 – Highest result ever achieved for a Patek Philippe wristwatch at auction.


ABOUT PHILLIPS

Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of 20th Century and Contemporary 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, Geneva, and Hong Kong, 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.  In addition to providing selling and buying opportunities through auction, Phillips brokers private sales and offers assistance with appraisals, valuations, and other financial services.

Visit www.phillips.com for further information.

 

*Estimates do not include buyer’s premium. Prices Achieved include the buyer's premium and are reported net of applicable fees. 

 

Phillips is not responsible for typographical errors or omissions.

 

PRESS CONTACTS:                        

HONG KONG - Rhonda Yung, PR Consultant, Asia                                  RhondaYung@phillips.com      +852 9800 2629

LONDON - Katie Carder, Head of Press, Europe                                       kcarder@phillips.com                +44 20 7901 7938

 

PHILLIPS HONG KONG - 14/F St. George’s Building, 2 Ice House Street, Central Hong Kong

PHILLIPS NEW YORK - 450 Park Avenue, New York, NY 10022

PHILLIPS LONDON - 30 Berkeley Square, London, W1J 6EX



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