21 April 2021

Phillips in Association with Bacs & Russo Announces Selected Highlights for The Hong Kong Watch Auction XII

Phillips in Association with Bacs & Russo Announces Selected Highlights for The Hong Kong Watch Auction XII


The Two-Day Watch Auction Series in Hong Kong on 5-6 June Will Offer Over 300 Exceptional Timepieces





HONG KONG – 21 April 2021 – Phillips is pleased to unveil selected highlights from The Hong Kong Watch Auction XII, to be held at JW Marriott in Hong Kong on 5 to 6 June, following the announcement of  an elusive Patek Philippe minute repeating perpetual calendar reference 3974 in pink gold. The two-day auction series will offer over 300 lots, including finest timepieces that are exceptional in terms of quality, rarity, provenance, and aesthetic beauty, with the great variety of choices spanning vintage and modern wristwatches, clocks and pocket watches from top collectors’ brands including Patek Philippe, Rolex, Audemars Piguet, Cartier, Panerai, and F. P. Journe, among others.


Leading up to the auction, highlights from the sale will embark on a world tour in Geneva (6-9 May), Beijing (3-4 May), Shanghai (8-9 May), Shenzhen (22-23 May), Singapore (May, date TBC), Taipei (22-23 May) and Taichung (26 May).


Thomas Perazzi, Head of Watches, Asia, said: “Following our strongest year for watch auctions in company history, and the success of our recent 100% sold online sale, Phillips is delighted to present the twelfth installment of Hong Kong Watch Auction this June. As we continue to expand our presence in Asia with the rapidly-increasing number of collectors across the region, we will embark on a global watch auction preview tour next month, and marking the first time for us to put on a preview in Shenzhen, a leading city in South China.”


Patek Philippe


Among the top lots of the auction is an incredibly rare Patek Philippe reference 3974R minute repeating perpetual calendar in pink gold. In 1989, Patek Philippe celebrated their 150th anniversary by launching one of the world’s most complicated wristwatches at the time, the reference 3974. This historical timepiece is the Maison’s first serially produced automatic self-winding wristwatch with two of the most cherished complications amongst collectors, a minute repeater and a perpetual calendar housed into one. Reference 3974 was discontinued in 2000, and given how complex it was to manufacture, very few examples were made. The present lot is one of only five examples in pink gold known to the market.


Patek Philippe has been a powerhouse of creating the most complicated and magnificent timepieces since the early 20th century and has continued to introduce sophisticated timepieces in modern times. As one of the most important references created in recent times, the reference 5208 epitomises the essence of Patek Philippe featuring for the first time a combination of a minute repeater, perpetual calendar and a single-button chronograph function, all of which can be considered as the manufacturer’s most prized complications. The reference 5208 was first introduced at the Baselworld in 2011, offering only to the brand’s most important clients, and in 2018 the watch is offered with the pink gold option. The present lot was originally owned by Italian footballer and World Cup 2006 winner, Fabio Cannavaro who is also known to be an avid watch collector. Moreover, it is the first time for the reference in pink gold to be presented in a Phillips auction providing a rare opportunity for esteemed collectors to acquire one of the contemporary grails.



Patek Philippe Ref. 3974R pink gold minute repeating English perpetual calendar wristwatch. Circa 1992. 

Estimate: HK$ 3,875,000 - 7,750,000


Patek Philippe Ref. 5208R-001 pink gold minute repeating perpetual calendar single-button chronograph wristwatch. Circa 2019.

Estimate: HK$ 5,500,000 - 7,500,000


Patek Philippe Ref. 5213G-010 white gold minute repeating perpetual calendar wristwatch. Circa 2020.

Estimate: HK$ 2,000,000 - 3,100,000


Introduced in 2012, the Patek Philippe minute repeating perpetual calendar reference 5213G features a minute repeater and retrograde perpetual calendar. The present lot is fresh-to-the-market and offered with its full set of accessories and preserved in excellent overall condition. Only ever produced in white gold, the chime is one of the most desirable that collectors will have ever witnessed with an elegant and pure pitch with generous volume.


Debuted in 2005, reference 5959 was created to pay homage to Patek Philippe's highly complex timepieces in the late 1920s. Discontinued in 2018, it is estimated that less than 100 examples of the reference were manufactured over the course of its production. The present example in platinum with a white lacquered dial and painted black Breguet numerals is a jaw-dropping specimen boasting a perfect case with extremely minimal signs of use and wear.




Vintage Rolex Cosmograph Daytona timepieces have garnered a much appreciated interest from collectors due to its timeless aesthetics, historical importance and rarity. The present example Rolex Cosmograph Daytona reference 6241 champagne “Paul Newman” with a 2.1 million serial from 1969 belongs to one of the last examples of the reference produced featuring a cal. 722-1 before it was discontinued. The Daytona reference 6241 is one of the rarest references, especially when it is presented in a 14K yellow gold case with a champagne “Paul Newman” dial.  It is believed that examples encased in 14K yellow gold were sold primarily to the US market and only an estimated 400 examples were encased in 14K yellow gold.



Patek Philippe Ref. 5959P-001 platinum split-seconds chronograph wristwatch. Circa 2007.

Estimate: HK$ 1,248,000 - 2,028,000


Rolex Ref. 6241 yellow gold chronograph wristwatch with champagne “Paul Newman” dial. Circa 1969.

Estimate: HK$ 3,400,000 - 5,000,000


Panerai Ref. 6152-1 oversized stainless steel cushion-shaped diver’s wristwatch with black dial, delivered to the Carabinieri

Sommozzatori. Circa 1958.

Estimate: HK$ 550,000 - 1,000,000




The first Panerai examples delivered to the Italian Navy were equipped with radium-based Radiomir Panerai dials. Only a handful of these early reference 6152-1 watches supplied between 1955 and the mid 1960s retained the original Radiomir dials. The present example features the C.C. No 1 engraving on the outside of the caseback is one of the 30 reference 6152-1 watches delivered to the Italian Carabinieri Sommozzatori (the Italian Carabinieri are a national military force, primarily carrying out domestic policing duties). As of today, only 12 of the 30 Carabinieri watches have surfaced and only the present one features a Radiomir Panerai dial.


Audemars Piguet Royal Oak



Audemars Piguet Ref.  26589IO.OO.D002CA.01 oversized titanium dual time flying tourbillon wristwatch. Circa 2017.  

Estimate: HK$ 1,200,000 - 2,000,000


Audemars Piguet Ref. 25554BA yellow gold perpetual calendar wristwatch with black dial. Circa 1986.

Estimate: HK$ 780,000 - 1,560,000


Audemars Piguet Ref. 25865BC.OO.1105BC.05 white gold minute repeating perpetual calendar split-seconds chronograph wristwatch. Circa 2008.

Estimate: HK$ 1,950,000 - 3,500,000


First unveiled by Audemars Piguet in the early 1970s and designed by the late Gerald Genta, the Royal Oak became an icon for the manufacturer with very distinctive features. In 2002, the Audemars Piguet Royal Oak Concept line was introduced to celebrate the 30th anniversary of the Royal Oak.  Highly sophisticated and innovative, the present example Audemars Piguet Royal Oak Concept Flying Tourbillon GMT featuring a 44mm titanium case with an attractive sandblasted finish combined with brushed casebands providing a subtle contrast against the black ceramic bezel. It is offered in unworn condition and further accompanies by an extra crocodile leather strap.


The first production of Royal Oak Perpetual Calendar was launched in 1984. One of the world’s thinnest automatic perpetual calendar watch, the early production of reference 25554 was made in only 279 examples, most of which are cased in yellow gold. The present lot is fitted with a black dial and could be the only one known with applied gold print. To further highlight the rarity of this piece, a subtle detail can be seen where the brand signature on the moon phase is of a smaller font, only found in early production pieces.


The Royal Oak Grand Complication was made to commemorate Audemars Piguet’s 125th anniversary, celebrating its supremacy in traditional craftsmanship as well as its trail-blazing design prowess. Combining the iconic Royal Oak with the industry's most desired complications, this watch features split-seconds chronograph, perpetual calendar, and minute repeating alongside moon phases and leap year indication on the dial. It is produced in extremely limited numbers and offers collectors a unique opportunity to own this rare and iconic model by Audermars Piguet.


Further highlights from The Hong Kong Watch Auction XII will be announced in the coming weeks.



The Hong Kong Watch Auction XII

Date and Time: 5 June 7pm, 6 June 12pm

Location: JW Marriott, 88 Queensway, Admiralty, Hong Kong


Touring Previews




3-4 May

10am to 6pm


Pavilion Ballroom, Rosewood Beijing, Jing Guang Center, Hujialou, Chaoyang District

8-9 May

10am to 6pm


Jing An Grand Ballroom I, Jing An Shangri-La, 1218 Middle Yan’an Road, Jing An District,

6-7 May 10am to 8pm

8-9 May 9am to 12:30pm


Hôtel La Réserve, 301 Route de Lausanne, Geneva, Switzerland

14-15 May

11am to 7pm

Singapore (RSVP ONLY)

Embassy & Consulate Room, The St. Regis, 29 Tanglin Road  

22-23 May

10am to 6pm


Raffles Shenzhen, T7, One Shenzhen Bay, 3008 Zhongxin Road, Nanshan District

22-23 May

11am to 6pm


B1 Art Gallery, Bellavita, No.28, Songren Rd., Xinyi District, Taipei, Taiwan

26 May

11am to 6pm


Fong-Yi Gallery, B1, No. 110, Sec. 1, Wuquan W. Rd., West Dist., Taichung, Taiwan

2-5 June

10am to 7pm  

Hong Kong

JW Marriott Hotel, 88 Queensway, Admiralty, Hong Kong


Images of highlights:  https://www.dropbox.com/sh/n60dxoziiwpd3hy/AADYoxF1u4BPso1jfP6rf3LNa?dl=0


PRESS CONTACT:            

HONG KONG – Ingrid Hsu, Public Relations Director, Asia    [email protected]   +852 2318 2043



The team of specialists at Phillips Watches is dedicated to an uncompromised approach to quality, transparency, and client service, achieving a sale total of $133 million in 2020.


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.



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.