Phillips, The World’s Leading Watch Auction House, Sets New Auction Record for a Rolex in Asia
Stainless Steel Rolex Reference 8171 ‘Padellone’ sells for US$1 million
“Rolex Milestones: 38 Legendary Watches That Shaped History” realises: HK$60,858,750 / US$7,844,693
Lots Sold: 36 | Lots Offered: 38 Sold by Lot: 95% | Sold by Value: 99%
HONG KONG - 28 NOVEMBER 2016 - Phillips, in Association with Bacs & Russo, the world’s leading watch auction house, is proud to announce a historical and record-breaking themed sale of “Rolex Milestones: 38 Legendary Watches That Shaped History”, which realised a total of HK$60,858,750 /US$7,844,693. Phillips’ first themed watch auction in Asia performed exceptionally well with 47% of lots sold selling above high estimate and an average lot value of over US$200,000. The momentum continued throughout the sale - passionate bidding wars for some of the world’s rarest and most important Rolex timepieces saw collectors competing online, over the phone, in the room and multiple absentee bids. The top lot of the sale, a Rolex Reference 8171 ‘Padellone’ in stainless steel, achieved an outstanding price of HK$7,880,000 /US$1,015,732, a new auction record for a Rolex in Asia and a testimony to Phillips’ unique approach of uncompromised quality.
Sam Hines, International Head of Watches and Deputy Chairman, Asia, said: “Phillips were privileged to convene the worldwide watch community with this unique formula, bringing together world famous scholar and book author John Goldberger to curate the sale and Pucci Papaleo and his team to publish a prestigious limited edition catalogue. The result was a tightly curated sale, celebrating Rolex timepieces that represent milestones throughout the brand’s history. Asia has quickly transformed into one of the leading markets for watches and the auction attracted immense attention from across the globe. Following this monumental evening sale, we look forward to The Hong Kong Watch Auction: THREE on 29 November 2016.”
TOP TEN LOTS
| Lot |
Description |
Estimate |
Price Achieved |
|
823 |
NEW AUCTION RECORD FOR A ROLEX IN ASIA ROLEX, Ref. 8171 ‘Padellone’ A stainless steel triple calendar wristwatch with moonphases |
HK$2,800,000 - 5,600,000 |
HK$7,880,000 US$1,015,732 |
|
824 |
ROLEX, Ref. 4645 A yellow gold square wristwatch with cloisonné enamel dial depicting Neptune and heavy bracelet |
HK$4,000,000 - 8,000,000 |
HK$5,840,000 US$752,776 |
|
835 |
ROLEX, Ref. 6263, inside case back stamped 6262 A stainless steel chronograph wristwatch with ‘Oyster Sotto’ dial and bracelet |
HK$4,800,000 - 9,600,000 |
HK$5,840,000 US$752,776 |
|
816 |
ROLEX, Ref. 6062 A yellow gold triple calendar wristwatch with star-set numerals, moon phases and bracelet |
HK$2,400,000 - 4,800,000 |
HK$5,120,000 US$659,968 |
|
833 |
ROLEX, Ref. 6263, inside case back stamped 6239 A stainless steel chronograph wristwatch with ‘Paul Newman’ dial, 'tropical' outer minute track, bracelet and guarantee |
HK$2,800,000 - 5,600,000 |
HK$4,880,000 US$629,032 |
|
809 |
ROLEX, Ref. 1665, inside case back 1.72 A steel wristwatch with date, ‘Khanjar’ dial, bracelet, guarantee and box, made for the Sultan of Oman and retailed by Asprey |
HK$1,600,000 - 3,200,000 |
HK$4,040,000 US$520,756 |
|
830 |
ROLEX, Ref. 6036 A pink gold Spanish triple calendar chronograph wristwatch with two-tone dial, bracelet and guarantee, retailed by Serpico Y Laino |
HK$2,000,000 - 4,000,000 |
HK$2,960,000 US$381,544 |
|
828 |
ROLEX, Ref. 6234 A stainless steel chronograph wristwatch with black lacquer 'tropical' dial and bracelet |
HK$1,200,000 - 2,400,000 |
HK$2,480,000 US$319,672 |
|
820 |
ROLEX, Ref. 1831, inside case back stamped 1850 A platinum and diamond-set tonneau-shaped calendar wristwatch with sweep center seconds, light blue dial and bracelet |
HK$1,200,000 - 2,400,000 |
HK$1,750,000 US$225,575 |
|
836 |
ROLEX, Ref. 6263, inside case back stamped 6265 A stainless steel chronograph wristwatch with UAE Coat of Arms dial, bracelet and box, made for Mohammed bin Rashid Al Maktoum |
HK$1,440,000 - 2,880,000 |
HK$ 1,750,000 US$225,575 |
The team of specialists at Phillips Watches is dedicated to an uncompromised approach to quality, transparency, and client service, and as a result, in its inaugural year, in just two auction seasons, realized a total of US $80.3 million. With ten watches selling for over US$1 million, multiple world records including for any stainless steel watch and the highest result ever achieved for a wristwatch sold at auction, Phillips became the market leader in its two selling locations – Geneva and Hong Kong – in 2015.
As of 14 November 2016, in its two selling locations, Phillips achieved US $80.7 million to date this year, making it the undisputed worldwide market leader. A selection of our recent record-breaking prices:
1. Stainless Steel Patek Philippe 1518 (CHF 11,002,000 /US $11,112,020) – Geneva Watch Auction: FOUR – 12 November 2016 – highest result ever achieved for a wristwatch at auction
2. Patek Philippe Ref. 130 – (CHF 4,645,000 /US $4,987,000) – Geneva Watch Auction: ONE - 10 May 2015 – Highest result ever achieved for a vintage stainless steel wristwatch
3. Patek Philippe 2499 (HKD 19,720,000 /US $2,538,000) – Hong Kong Watch Auction: TWO – 31 May 2016 – Highest result ever achieved for any wristwatch sold at auction in Asia
4. Rolex reference 4113 (CHF 2,405,000 /US $2,453,000) – START-STOP-RESET – 14 May 2016 – Highest result ever achieved for any Rolex sold 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 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. 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 - Heiman Ng, Associate Director, CdD heiman@cdd.com.hk +852 9188 4044
LONDON - Katie Carder, Press Manager, EMEA kcarder@phillips.com +44 20 7901 7938
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