29 November 2020

Phillips in Association with Bacs & Russo Achieves HK$132 Million/ US$17 Million in The Hong Kong Watch Auction XI

 

Realising an Industry-Leading 99% Sold Rate by Value

 

Unprecedented Participation with a Record Number of 1,600 Bidders from 60 Countries Through All Channels, the Most in Any Auction Held by Phillips in Asia in Company History

 

The Hong Kong Watch Auction XI

 

TOTAL: HK$132,335,910 / US$ 17,071,332/ CHF15,443,600


Lots sold: 243 | Lots offered: 248                                                       Sold by lot: 98% | Sold by value: 99%

 

HONG KONG – 29 November 2020 – Following the success of two watch sales held by Phillips in Association with Bacs & Russo in Geneva earlier this month, the Hong Kong Watch Auction XI totaled HK$132,335,910 / US$ 17,071,332, with an unrivalled sell-through rates of 98% sold by lot and 99% sold by value, and 83% above its pre-sale low estimate. Despite the current climate, Phillips continues to attract an increasing number of collectors, with 1,600 bidders from across 60 countries raising their paddles in room, on phone, advance bids and online, the most in any auction staged by Phillips in Asia, including an unprecedented number of 1,350 online bidders, a 12% increase compare to the last season.

 

Aurel Bacs, Senior Consultant and Thomas Perazzi, Head of Watches, Asia, jointly said: “The approach of Phillips to select the highest quality and to attribute the most intelligent estimates was appreciated by the watch community who reacted with fierce biddingPatek Philippe models once again dominated the top lots, led by reference 5104. And the sale was further complemented by the historically important Panerai collection, the ‘sleeping beauties’ that have been well kept for 40 years by a Japanese collector, sold for a total of HK$ 5.3 million/ US$683,481, over 4 times the combined pre-sale estimates. In addition, Phillips’ brand new live-stream format with dynamic camera angles brought a record number of 1,350 online bidders a unique virtual event experience. During the 8-hour marathon auction, 94% of lots received online bids with 50% of timepieces sold to online participants.  Our phenomenal sale results reaffirm that collectors continue to chase the most original, best preserved and most professionally researched and presented watches. We look forward to the RACING PULSE sale in New York on 12 December, where Phillips will offer the last live watch auction of this year with many high-profile museum quality pieces, including Paul Newman’s Rolex Daytona, Steve McQueen’s Heuer Monaco and watches from the personal collection of Sylvester Stallone such as the Panerai Luminor worn in his iconic movie Daylight.”

 

 

Lot

Description

Estimate

Price Achieved

988

Patek Philippe Ref. 5104. A two tone platinum and pink gold semi-skeletonised minute repeating perpetual calendar wristwatch with small seconds, retrograde date, moon phases and leap year indication. Circa 2012.

HK$1,800,000 - 2,800,000

HK$4,536,000

US$585,144

CHF529,351

993

Rolex Ref. 6236. A stainless steel triple calendar chronograph wristwatch with ‘no lumes’ dial. Circa 1960’s.

 

HK$ 1,800,000 - 3,800,000

HK$4,410,000

US$568,890

CHF514,647

845

Richard Mille Ref. RM022 CA TZP-Z RME. A limited edition brown ceramic, carbon TPT tonneau-shaped dual-time, tourbillon, with function selector, power reserve and torque indication. Circa 2018.

HK$2,350,000 - 4,700,000

HK$4,284,000

US$552,636

CHF499,943

987

Patek Philippe Ref. 6104G-001. A white gold with diamond-set astronomical wristwatch with sky chart, phases and orbit of the moon and time of Meridian Passage of Sirius and of the Moon, date. Circa 2013.

HK$1,200,000 - 1,800,000 

HK$ 3,654,000

US$471,366

CHF426,422

835

Patek Philippe Ref. 6104R-001. A pink gold and diamond-set astronomical wristwatch with sky chart, phases and orbit of the moon and time of Meridian Passage of Sirius and of the Moon, date. Circa 2018.

HK$ 1,560,000 - 3,120,000

HK$3,339,000

US$430,731

CHF389,661

931

Patek Philippe Ref. 5372P-001. A platinum perpetual calendar single-button split seconds chronograph wristwatch with moon phases, leap year, day and night indication, additional solid caseback, Circa 2019.

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

HK$3,150,000

US$406,350

CHF367,605

981

Patek Philippe Ref. 3974J. A very impressive, attractive and rare yellow gold minute repeating perpetual calendar wristwatch with moon phases, 24-hour, leap year indication. Circa 1991.

HK$1,940,000 - 2,320,000

HK$2,646,000

US$341,334

CHF308,788

836

Patek Philippe Ref. 5271/12P-001. A platinum and ruby-set perpetual calendar chronograph wristwatch with moon phases, leap year, day and night indication. Circa 2016.

HK$ 1,700,000 - 2,200,000

HK$2,457,000

US$316,953

CHF286,732

979

Patek Philippe Ref. 3450. A yellow gold perpetual calendar wristwatch with moon phases, leap year indicator, English calendar. Circa 1985.

HK$1,170,000 - 2,340,000 

HK$2,205,000

US$284,445

CHF257,324

871

Patek Philippe Ref. 3448. An extremely fine, rare and very well-preserved yellow gold perpetual calendar wristwatch with moon phases, Circa 1974

HK$1,170,000 - 2,340,000 

HK$2,142,000

US$276,318

CHF249,971

975

Patek Philippe Ref. 2438/1. A yellow gold perpetual calendar wristwatch with center second, moon phases, screw-down caseback. Circa 1955.

HK$1,400,000 - 3,000,000

HK$2,142,000

US$276,318

CHF249,971

 

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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 $111 million in 2019 – its third 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 vintage 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 vintage 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 i 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 – Ingrid Hsu, Public Relations Director, Asia  [email protected] +852 2318 2043

GENEVA - Asta Ponzo, PR Consultant  [email protected]   +41 79 961 85 66