29 May 2018

 

 

Phillips Achieves HK$124.6 Million During The Hong Kong Watch Auction: SIX

A 17% Increase from the Previous Year

Concluding the Spring Season of Global Watch Auctions with its

Highest Ever Total of Over US$61 Million

Sale Total: HK$124,633,750 / US$15,890,803


HONG KONG – 29 MAY 2018 – Phillips, in Association with Bacs & Russo, achieved HK$124,633,750 / US$15,890,803 during The Hong Kong Watch Auction: SIX – taking the spring season total to over US$61 million and maintaining worldwide market leadership. With the most tightly curated sale brought to the market this season in Asia, a total of 216 collectible timepieces of the highest quality attracted collectors from 47 countries across six continents, including a record number of over 460 online bidders. Particularly strong results were achieved for both vintage and modern watches, including antique pocket watches such as the pair by Edouard Juvet, and the beautiful selection by Patek Philippe. Independent watchmakers ignited great competition that brought noteworthy prices for Greubel Forsey, and the Richard Mille Ref. RM 003 AC CA in 5 pieces.

Thomas Perazzi, Head of Watches, Asia, and Auctioneer, said: “I could not have imagined a warmer welcome from the worldwide, and in particular Asian, community of watch collectors than what I have received during my first full season at Phillips. In a crowded room at the Mandarin Oriental, with an unprecedented number of online, telephone and room bidders, over 30 watches soared above the HK$1 million mark, setting numerous records and exceptional prices. Phillips is fully committed to further expanding our presence in Asia and offering best-in-class quality, service and scholarship to collectors in the region.”

Aurel Bacs, Senior Consultant and Auctioneer, said: “Following our blockbuster sales in Geneva, the Hong Kong Watch Auction: SIX achieved an impressive HK$124.6 million / US$15.9 million – outperforming the same sale in May last year by 17% – bringing Phillips’ total for the category to over US$61 million for the first half of 2018 and maintaining its undisputed worldwide market leadership. The top ten is dominated by Patek Philippe and Rolex, with a broad array of vintage collectors watches and highly limited editions. In this passionate and international marketplace, collectors reacted enthusiastically, resulting in numerous record sales and an industry-leading sold rate of 98% by value.”

TOP TEN LOTS

Lot

Description

Estimate

Price Achieved

953

ROLEX, Ref. 1665

A stainless steel automatic diver's wristwatch with no gas-escape valve, center seconds, date and bracelet

HK$4,000,000 - 8,000,000

HK$4,900,000

US$624,750

864

PATEK PHILIPPE, Ref. 2438/1

A pink gold perpetual calendar wristwatch with center seconds and moon phases

HK$3,500,000 - 7,000,000

HK$4,540,000

US$578,850

825

ROLEX, Ref. 6263

A stainless steel chronograph wristwatch with “Paul Newman Panda” dial and bracelet

HK$2,400,000 - 4,000,000

HK$4,360,000

US$555,900

859

PATEK PHILIPPE, Ref. 1436

A yellow gold split second chronograph wristwatch

HK$1,600,000 - 2,400,000

HK$4,060,000

US$517,650

903

PATEK PHILIPPE, Ref. 5275P

A limited edition platinum chiming wristwatch with jump second and minute, digital jump hour, engraved dial and case, made for the 175th anniversary of Patek Philippe

HK$3,200,000 - 4,800,000

HK$3,700,000

US$471,750

935

PATEK PHILIPPE, Ref. 5004P

A possibly unique platinum perpetual calendar split-second chronograph wristwatch with phases of the moon, leap year indication, 24 hours indication, and special black luminous monogrammed dial

HK$2,800,000 - 5,600,000

HK$3,700,000

US$471,750

985

PATEK PHILIPPE, Ref. 1518

A yellow gold perpetual calendar chronograph wristwatch with moon phases

HK$2,500,000 - 5,000,000

HK$3,700,000

US$471,750

823

ROLEX, Ref. 6264

A stainless steel chronograph wristwatch with “Paul Newman” dial and bracelet

HK$1,200,000 - 2,400,000

HK$3,040,000

US$387,600

912

ROLEX, Ref. 6241

A 14K yellow gold chronograph wristwatch with "Paul Newman" dial

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

HK$2,980,000

US$379,950

902

PATEK PHILIPPE, Ref. 3939HP

A platinum minute repeating tourbillon wristwatch with enamel dial and Breguet numerals

HK$2,400,000 - 4,000,000

HK$2,860,000

US$364,650

 

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.

3         Patek Philippe reference 2523 (HK$22,300,000 /US$2,856,630) – Hong Kong Watch Auction: FIVE – 28 November 2017 – Highest result ever achieved for any wristwatch sold at auction in Asia.

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 Director, Asia                                     rhondayung@phillips.com       +852 2318 2043
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

FOLLOW US ON: Twitter | Instagram | Vimeo | Facebook | Pinterest | LinkedIn |