17 October 2017

PRESS RELEASE

Phillips Presents Hong Kong Watch Auction: FIVE

Featuring one of the most sought after and elusive wristwatches made by world renowned watchmaker - Patek Philippe: The Reference 2523 Worldtime


Auction to take place in Hong Kong on November 28, 2017

HONG KONG – 17 October 2017 – Continuing its exciting Fall season following the groundbreaking WINNING ICONS auction in New York, the thematic “Heuer Parade” sale, and Geneva Watch Auction: SIX, Phillips in Association with Bacs & Russo is delighted to announce Hong Kong Watch Auction: FIVE. Offering an exceptional selection of collectible timepieces, the sale will include noteworthy vintage and contemporary wristwatches, as well as pocket watches and enamel clocks. Comprising 168 lots, the sale will be held at the Mandarin Oriental on 28 November 2017.

Kazuhiko Fujimoto, Acting Head of Watches, Asia, and Aurel Bacs, Senior Consultant, said:
“Our international team of specialists searched the world to find this selection of superb timepieces that will appeal to a wide range of watch collectors across markets. Headlining the sale will be the Patek Philippe Reference 2523, one of the rarest wristwatches produced by the historic firm. A yellow gold world time wristwatch made for the rising “jet-set” in 1953, the model, together with its sister model, the 2523/1, are the only known Patek Philippe references to feature two crowns. Hardly ever seen on the market, its case remarkably has never been polished, making it one of the best-preserved examples to appear in recent memory. Intriguingly, this rare reference, powered by Louis Cottier’s revolutionary world time system, did not achieve tremendous success when it launched in 1953. Consequently, few were sold, and today, the reference 2523 ranks among the world’s most sought after watches. The two crowns were ahead of their time, and the oversized, 36mm diameter was also deemed excessive back then, but is now perfect for modern tastes. Today, this timepiece is recognised for its pioneering, perfectly balanced design – chronicling a historic moment in watchmaking history that was ushered in by the jet age.”

The Hong Kong Watch Auction: FIVE will also include a fine selection of timepieces in impeccable condition and with notable provenance, originating from the world’s foremost watchmakers, including independent contemporary innovators as well as historic firms. The selection was curated to meet the growing demand and evolving tastes of collectors from Asia and beyond, including the following additional highlights:

Patek Philippe. An important and extremely rare worldtime wristwatch with two crowns and guilloche dial, reference 2523, manufactured in 1953
HKD 10,000,000 - 20,000,000 / USD 1,250,000 - 2,500,000

Vintage Timepieces


Rolex, Cosmograph Daytona “Tropical Lemon”. An extremely rare, fine and attractive 14k gold chronograph wristwatch with topical Paul Newman ‘lemon’ grené dial, white graphics and 14k gold bracelet, reference 6241, manufactured in 1969
HKD 1,600,000 - 3,200,000 / USD200,000 - 400,000
Fresh to the market from the original owner, this Rolex timepiece is among the elite of Daytona chronographs. Featuring a case and bracelet in 14k gold, as well as a highly desirable and extremely rare “Lemon” Paul Newman dial, the dial stands out with a vibrant yellow background and black subsidiary dials featuring white numerals. Further elevating its desirability, the ‘tropical’ black subsidiary dials have turned a pleasing shade of brown, thus making this one of the most exciting “Lemon” models to have been discovered.

Patek Philippe. An early and rare stainless steel chronograph wristwatch tachometer scale, reference 1463, manufactured in 1942
HKD 1,600,000 - 3,200,000 / USD200,000 - 400,000
The present reference 1463 is fresh to the market, coming directly from the family of the original owner. The watch is accompanied by a letter from the consignor, describing its original owner as an accomplished officer in the U.S. Army Air Corps, having participated in the Normandy invasion during World War II, and flown with the 101st Airborne Division into Sainte Mère-Èglise. Made in 1942, it’s one of the earliest known examples of the reference featuring straight lugs.

Patek Philippe. An important, probably unique, very attractive yellow gold chronograph wristwatch with Brequet numerals, reference 1579, manufactured in 1952

HKD 1,200,000 - 2,400,000 / USD150,000 - 300,000
The reference 1579 most notably features faceted lugs that have been dubbed “spider lugs” by collectors, due to their unusual shape. Amongst the largest of all of Patek Philippe’s vintage chronograph wristwatches, the present, possibly unique example features an especially beautiful dial with Breguet hour markers.

Triumphs of Contemporary Watch Making

Philippe Dufour, Simplicity. An extremely rare and fine pink gold wristwatch, with original certificate and presentation box, manufactured in 2012
HKD 960,000 - 1,440,000 / USD 120,000 - 180,000
The largest version of Philippe Dufour’s Simplicity, the present lot is housed in a pink gold case measuring 37 mm case. Fitted with a stunning guilloche dial and preserved in excellent condition, it comes complete with its original presentation box and certificate. Very few examples of the Simplicity have ever appeared at auction, with Phillips having set the auction record in 2016 achieving HKD 2 million for a similar 37mm rose gold model. A rare opportunity to own one of the most sought after modern watches of the 21st century.

Patek Philippe. A highly attractive, large and impressive platinum and diamond-set minute repeater perpetual calendar with moonphases, produced only upon special request, fitted presentation box with original certificate, reference 5073, manufactured in 2011

HKD 3,200,000 - 5,600,000 / USD 400,000 - 700,000
The reference 5073 was only made available to Patek Philippe's most exclusive clients and produced upon special request. Housing a minute repeater and perpetual calendar – Patek Philippe’s most prestigious complications, the case is fitted with internally flawless and colour matched baguette diamonds. Production of each was time consuming due to the challenge of finding and setting colour matched stones. As a result, very few examples were manufactured, making this reference exceedingly rare. The present watch is only the third reference 5073 to ever appear on the auction market thus far.

Lange & Söhne, The Lange 1 Tourbillon, “Handwerkskunst” from original owner. A very fine and rare limited edition platinum tourbillon wristwatch with black enamel dial, date and hacking mechanism, manufactured in 2014

HKD 1,300,000 - 1,800,000 / USD 162,500 - 225,000
Lange & Söhne celebrated its 20th anniversary in 2014, after Walter Lange rebuilt the prestigious firm, which was destroyed at the end of World War II. Since its inception, the house has been known for its high quality movements and complications, and the Lange 1 Tourbillon ‘Handwerkskunst’ is no exception. This stunning limited edition, 20th anniversary timepiece encapsulates all that the brand is known for, and is a masterpiece of modern horology. The Lange 1’s DNA is seen in the oversized date apertures, along with an eccentric dial, which has been semi-skeletonised to allow the wearer to view the one-minute tourbillon carriage. Aesthetically pleasing, the large platinum case is nicely contrasted with a stunning black dial. One of only 20 produced, the present watch is fresh to the market, coming from the original owner.

Auctions:
20th Century & Contemporary Art & Design Evening Sale, 26 November 2017
Jewels and Jadeite, 27 November 2017
The Hong Kong Watch Auction: Five, 28 November 2017
Location: Mandarin Oriental, 5 Connaught Road, Central, Hong Kong

Asia Preview Tour:

Singapore:
Grand Hyatt, 10 Scotts Road, Singapore 228211
4 – 5 November 2017, 11am - 6pm SST

Taipei:
Bellavita Gallery, B1/F, No. 28, Songren Road, Taipei, Taipei City, Taiwan 110
18 – 19 November 2017, 11am - 6pm CST

Hong Kong
Mandarin Oriental Hong Kong, 1/F & 2/F, 5 Connaught Road Central, Hong Kong
23 – 26 November, 10am - 6pm HKT

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 hammer price plus buyer’s premium.

PRESS CONTACTS: HONG KONG - Ada Lam, Director, CdD ada@cdd.com.hk +852 9219 0921
LONDON - Katie Carder, Press Manager, EMEA kcarder@phillips.com +44 20 7901 7938

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