Phillips in Association with Bacs & Russo Achieves the Most Successful Various Owner Watches Auction in Asia with 100% Sell-Through Rates
The Hong Kong Watch Auction: XIV Realises HK$264 Million/ US$33.6 Million, Marking the Highest Ever Total for the Category Staged by Phillips Asia
A Possibly Unique Patek Philippe Ref. 3974 in Yellow Gold Sells for HK$19.6M/ US$2.5M, Setting World Record for the Reference
Auctioneer Thomas Perazzi auctioneering lot 886 in The Hong Kong Watch Auction: XIV, selling for HK$19.6 million/ US$2.5 million
The Hong Kong Watch Auction: XIV TOTAL: HK$264,118,020 / US$33,648,636
Lots sold: 321 | Lots offered: 321 Sold by lot:100 % | Sold by value: 100%
HONG KONG –28 May 2022 – Phillips in Association with Bacs & Russo achieves HK$264 million/ US$33.6 million during The Hong Kong Watch Auction: XIV. Held over two days on 27 and 28 May at the JW Marriott Hotel, the 100% sold sale far exceeded its pre-sale estimate of HK$105,256,000 to HK$192,004,000, marking the highest ever total for a various owner watches sale in Asia and the highest ever total for the category at Phillips Asia.
Patek Philippe once again demonstrated its supremacy with an impressive selection of collectible models, led by the cover lot, a possibly unique Patek Philippe Ref. 3974 in a yellow gold case made by the legendary casemaker Jaen-Pierre Hagmann and features the black lacquer dial embellished with the Calatrava Cross logo. One of the most outstanding examples for discerned collectors of important Patek Philippe timepieces, the watch captivated 20 bidders across the world, eventually selling for HK$19.6 million/ US$2.5 million, more than three times its pre-sale high estimate and achieved the new world record for the reference.
The Patek Philippe Nautilus is one of the most desirable watch models on the market today. Following the world record set for Nautilus when the very first Patek Philippe Nautilus Ref. 5711 with Tiffany Blue® dial sold at Phillips New York last December, the Patek Philippe Nautilus Ref. 5723 with the prestigious double stamp by Tiffany & Co. and ruby-set bezel and indexes sold for HK$11.4 million/ US$1.45 million, setting the second highest price ever paid for any Nautilus and the world record for a Nautilus in gold.
Important creations by independent watchmakers performed extremely well, with numerous timepieces flying well above their high estimates. The F.P.Journe Tourbillon Souverain “China 2010” limited edition, one out of the five examples created to commemorate the opening of F.P. Journe Boutique in Beijing in 2010, sold for HK$8.7 million/ US$1.1 million, setting a world auction record for F.P.Journe Tourbillon featuring a 40mm diameter case. Other notable results include a unique stainless steel prototype with an innovative movement almost entirely made out of titanium created by Lang & Heyne, made in collaboration with Phillips in Association with Bacs & Russo and The Lavish Attic, ranking as the highest auction price ever achieved for a wristwatch by Lang & Heyne. The stunning Vingt-8 Hisui is not only a piece unique by Kari Voutilainen, but also a winner for the GPHG Artistic Crafts Watch Prize in 2014, sold for over HK$4.4 million/ US$561,834, the highest price achieved for a Voutilainen timepiece without Complications.
Thomas Perazzi, Head of Watches, Asia, said: “We are extremely pleased to continue the 100% sold momentum for Phillips Watches since 2020. This season we continue to see astonishing global participation, with 1,900 bidders hailing from across 62 countries, raising their paddles in the saleroom, over the phone from Hong Kong and London phone banks, and online. We have seen record results set by Phillips Watches in Asia again and again throughout the years, and this season was no different. In addition, I would like to thank our collectors in Hong Kong, with their enthusiastic participation in the saleroom after the city relaxed pandemic restrictions. The two-day auction achieved the highest result for a various owner watches auction in Asia in history, and once again reaffirm collectors’ appetite and enthusiasm for seeking top quality timepieces.”
TOP TEN LOTS OF THE HONG KONG WATCH AUCTION: XIV
|
Description |
Estimate |
Price Achieved |
|
Patek Philippe Ref. 3974, yellow gold minute repeating perpetual calendar wristwatch with moon phases, leap year indication, glossy black lacquered dial, applied Breguet numerals, Calatrava cross logo. Circa 1990World record for the reference |
HK $3,200,000 - 6,500,000/ US$410,000 - 833,000 |
HK$19,610,000 US$2,498,314 |
|
|
956 |
Patek Philippe Ref. 5723/112R-001, Pink gold wristwatch with baguette-cut ruby-set bezel and indexes, chocolate brown dial, retailed by Tiffany & Co.World record for a Nautilus in gold |
HK $2,350,000 - 3,900,000/ US$301,000 - 500,000 |
HK$11,442,500 US$1,457,775 |
|
963C |
F.P. Journe, Tourbillon Souverain “China 2010”, platinum wristwatch with tourbillon regulator, one of a limited edition of 5 pieces made to commemorate the opening of F.P. Journe Boutique in Beijing.World record for F.P.Journe Tourbillon featuring a 40mm diameter case |
HK $3,900,000 - 7,800,000/ US$500,000 - 1,000,000 |
HK$8,720,000 US$1,110,928 |
|
1009 |
Voutilainen, a unique and superbly decorated platinum wristwatch with tear drop lugs, Japanese lacquering, cabochon emerald. Circa 2017
|
HK$780,000 - 1,560,000US$100,000-200,000
|
HK$4,410,000 US$561,834 |
|
884 |
Patek Philippe Ref. 5711/1P-001, platinum wristwatch with diamond-set indexes, limited edition of 700 pieces, made for the 40th Anniversary of the Nautilus. Circa 2017 |
HK$1,500,000 - 3,000,000/ US$192,000 - 385,000 |
HK$4,032,000 US$513,677 |
|
937 |
Rolex Ref. 16528, yellow gold chronograph wristwatch with grand feu enamel “Ying Yang” concept dial, black “Daytona” signature. Circa 1989 |
HK$1,560,000 - 3,120,000/ US$200,000 - 400,000 |
HK$3,654,000 US$465,520 |
|
856 |
F.P.Journe, platinum tourbillon wristwatch with remontoir d’egalité, brass movement. Circa 2002 |
HK$1,150,000 - 1,950,000 US$147,000-250,000 |
HK$3,654,000 US$465,520 |
|
909 |
Rolex, Ref. 6241stainless steel chronograph wristwatch with “Paul Newman” dial. Circa 1968 |
HK$1,200,000 - 2,000,000 US$154,000-256,000 |
HK$3,276,000 US$417,362 |
|
944 |
A. Lange & Söhne, Ref. 730.048F pink gold tourbillon wristwatch, numbered 25 of a limited edition of 30 pieces. Circa 2016 |
HK$900,000 - 1,600,000 US$115,000-205,000
|
HK$3,276,000 US$417,362 |
|
929 |
Richard Mille “RM67-02 Alexis Pinturault“ Ref. RM67-02 CA-FQ, Quartz TPT and titanium wristwatch |
HK $2,000,000 - 4,000,000/ US$256,000 - 513,000 |
HK$3,276,000 US$417,362 |
* Lot 1062 was sold after the lot closed, whilst the sale was ongoing and is therefore included in the total sale result.
Please click here for images of the top ten | The Hong Kong Watch Auction: XIV press kit
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