26 May 2021

Phillips to Offer a Very Rare Patek Philippe Ref. 5208R Originally Owned by the Italian Footballer Fabio Cannavaro Benefitting Fondazione Cannavaro Ferrara

Phillips to Offer a Very Rare Patek Philippe Ref. 5208R Originally Owned by the Italian Footballer Fabio Cannavaro Benefitting Fondazione Cannavaro Ferrara

 

 

Patek Philippe

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

 

The four founders of the Fondazione Cannavaro Ferrara. Left to right:  Paolo Cannavaro, Ciro Ferrara, Fabio Cannavaro and Vincenzo Ferrara.

 

HONG KONG/ GENEVA – 25 May 2021 –  Phillips in Association with Bacs & Russo is delighted to announce the sale of lot 988 from the upcoming Hong Kong Watch Auction XII, an extremely rare Patek Philippe reference 5208R in pink gold (Estimate: HK$5,500,000 - 7,500,000/ €590,000-805,000/ $705,000-962,000), will be sold to raise funds for the Fondazione Cannavaro Ferrara. The Fondazione Cannavaro Ferrara was established in 2005 by the watch’s original owner, Italian football legend and World Cup winner, Fabio Cannavaro together with his brother Paolo Cannavaro who is also a professional footballer, and his former teammate Ciro Ferrara and his brother Vincenzo Ferrara, to provide concrete support to their home city. The Fondazione has raised more than €3M to help guarantee a better future for at-risk youth and vulnerable families based in Naples, Italy. Through sport and educational programs, it offers children a straight path towards their personal development and integration into society.  

 

Thomas Perazzi, Head of Watches, Asia, Phillips, said: “We are very honoured to have been entrusted with the sale of this watch, a very rare example of Patek Philippe reference 5208R, and to our knowledge, the very first time in this case material to be offered at auction. The watch comes with incredible provenance as it was originally owned and had been worn by Fabio Cannavaro, captain of the World Cup winning Italian national football team in 2006. In addition, we are delighted to have reached an agreement with the consignor of the watch to pledge part of the proceeds of the sale to the footballer’s Fondazione in order to support its charitable mission.”

 

Dubbed by collectors as one of the most important references created in recent times, the reference 5208 epitomizes 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. Requiring intensive craftsmanship to create such a monumental timepiece, it is estimated that only 10 examples of the reference are produced annually. Moreover, it is the first time for the reference in pink gold to be presented in an auction, providing a rare opportunity for esteemed collectors to acquire one of the contemporary grails that also helps a good cause.

 

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The Hong Kong Watch Auction XII

Hong Kong Preview: 2-5 June 10am to 7pm 

Evening Session: 5 June 7pm, Day Session: 6 June 12pm

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

 

PRESS CONTACT:            

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

 

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 $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.

 

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.