Jun 29, 2010 12:00:01 PM
Review Antiquorum Hong Kong
Patek Philippe timepieces achieve remarkable results at June auction
Antiquorum’s summer auction “Collecting Modern & Vintage Timepieces”, held at the Mandarin Oriental in Hong Kong on Saturday 26 June, achieved excellent results totalling HKD 36’897’120 (CHF 5’243’080; USD 4’743’125), with 81% of the 431lots offered being sold, representing 120% by value. In addition to the strong in-room presence, the auction enjoyed very active Internet bidding, with 270 bidders registered online in addition to the many telephone and commission bidders. International interest came from across the globe, including the United States, Turkey, Spain, Japan and France.
The top lot of the sale was the Patek Philippe Pink Gold Ref. 3974R. This extremely rare minute-repeating and astronomic timepiece with perpetual calendar and moon phase (lot 430) reached an impressive HKD 3’960’000 (CHF 567’300; USD 509’000 USD).
Furthermore, excellent prices were achieved for the Patek Philippe Ref. 5004R (lot 431), a split-seconds chronograph in pink gold with perpetual calendar, moon phases and leap year that sold for a remarkable HKD 1’740’000 (CHF 249’300; USD 223’650); as well as the Patek Philippe Ref. 5102G “The Celestial Wristwatch” (lot 116), an 18k white gold astronomic wristwatch that was acquired for HKD 1’680’000 (CHF 240’700; USD 216’000).
Consigned by the original owner and offered at auction for the first time, the Patek Philippe Ref. 5101P “10 Days Tourbillon”(lot 429), an Art Deco style diamond and platinum chronometer wristwatch with one-minute tourbillon regulator also sold for HKD 1’680’000 (CHF 240’700; USD 216’000).
Other Patek Philippe references obtained very good results with the Patek Philippe Pink Gold ‘TV Watch’ Ref. 5020R (lot 428) that sold for HKD 1’380’000 (CHF 197’700; USD 177’380) while the Patek Philippe Ref. 3450 ‘Roman’ (lot 427) attained HKD 984’000 (CHF 140’980; USD 126’480).
“This sale confirms the emergence of the sophisticated Chinese collector who demands only top quality watches in pristine condition when adding to their comprehensive timepiece collections,” said Julien Schaerer, Watch Director & Auctioneer at Antiquorum.
Lot 372, the Longines Caliber 30CH FlyBack Chronograph, raised great excitement among the bidders who engaged in fierce competition. The piece achieved an astounding HKD 348,000 (CHF 49’860; 44’730 USD) reaching nearly seven times its high estimate.
Among the selection of erotic watches offered at auction, the Svend Andersen " Eros, No. 138", At the President's Pleasure (lot 69), an 18K white gold wristwatch with polychrome painted erotic automata and a painted polychrome dial sold for HKD 264’000 (CHF 37’800; USD 33’900), showing a renewed interest for modern erotic timepieces.
Finally, the Louis Audemars Russian Imperial Presentation Watch with 7 Complications No.14062, confirmed the great interest of collectors for complicated timepieces. Made for Russian Imperial presentation, circa 1895, this watch (lot 409) is one of the finest and most complicated made for presentation by the Tsar and must therefore have been intended for a very important recipient. The enamel and rose-cut diamond-set, hunting-cased, pocket watch with perpetual calendar, phases and age of the moon, special patented split-seconds chronograph and antimagnetic escapement achieved a remarkable HKD 696’000 (CHF 99’700; USD 89’460).
“We are very pleased with the strong results achieved today for pocket watches in the sale. With nearly every lot sold, this demonstrates the continuous demand for rare pocket watches in Asia,” commented Etienne Lemenager, Director & Watch Expert, Antiquorum Geneva.
The "top 10" lots for Antiquorum's June 26th auction are as follows:
Patek Philippe Pink Gold Ref. 3974. Made in 1992, sold on June 22nd, 1993. Extremely fine, rare and important, minute-repeating, astronomic, self-winding, 18K pink gold wristwatch with perpetual calendar, moon phases and an 18K pink gold Patek Philippe buckle.
Sold: HKD 3,960,000.00
Patek Philippe Ref. 5004, Pink Gold with external hallmarks. Sold on January 31st, 2002. Extremely rare and important, water-resistant, 18K pink gold wristwatch with split-seconds chronograph, registers, perpetual calendar, moon phases, leap year, 24 hour indication and an 18K pink gold Patek Philippe buckle.
Sold: HKD 1,740,000.00
Patek Philippe Ref. 5101P – 10 Day Tourbillon Patek Philippe, Genève, "10 Days Tourbillon". Sold on February 20th , 2004. Extremely fine and very rare, rectangular and curved, Art Deco style diamond and platinum chronometer wristwatch with one-minute tourbillon regulator, tandem mainspring barrels for 10-day power-reserve and a platinum Patek Philippe buckle.
Sold: HKD 1,680,000.00
Patek Philippe, celestial, Ref. 5102G, First Time at Auction Patek Philippe, Genève, “The Celestial Wristwatch”. Made circa 2005. Extremely fine, rare and unusual, astronomic, self-winding, 18K white gold wristwatch with mean time indication, nocturnal sky chart of the Northern Hemisphere, moon phases and moon orbit, time of the meridian passage of Sirius and moon with an 18K white gold Patek Philippe buckle.
Sold: HKD 1,680,000.00
Patek Philippe Pink Gold “TV Watch” Patek Philippe, Genève. Made in 1994, sold on November 24th, 1994. Very fine and very rare, tonneau-shaped, water-resistant, 18K pink gold wristwatch with round button chronograph, register, perpetual calendar, leap year and 24-hour indication, moon phases and an 18K pink gold Patek Philippe buckle.
Sold: HKD 1,380,000.00
Patek Philippe Ref. 3450 Roman Patek Philippe, Genève, Third Series. Made in 1985, sold on September 30, 1985. Very fine and very rare, self-winding, 18K yellow gold wristwatch with perpetual calendar, moon phases, Roman numerals for the leap year indication and an 18K yellow gold Patek Philippe buckle.
Sold: HKD 984,000.00
Louis Audemars Russian Imperial Presentation Watch with 7 Complications Louis Audemars, Brassus & Geneva, No. 14062. Made for Russian Imperial presentation, circa 1895. Extremely fine and exceptional, large, 18K gold, enamel and rose-cut diamond-set, hunting-cased, pocket watch with perpetual calendar, phases and age of the moon, special patented split-seconds chronograph and antimagnetic escapement.
Sold: HKD 696,000.00
Patek Philippe Ref. 5159 Retrograde Perpetual Calendar Patek Philippe, Genève, Ref. 5159G. Sold on March 20th, 2008. Very fine, Officer-style, center seconds, self-winding, water resistant, 18K white gold wristwatch with perpetual calendar, moon phases, retrograde date, and an 18K white gold Patek Philippe deployant clasp.
Sold: HKD 624,000.00
Rolex Ref. 6239 - Paul Newman Cosmograph Daytona Rolex. Made in 1967, sold on October 11th, 1969. Very fine and rare, water-resistant, stainless steel wristwatch with steel bezel, round button chronograph, registers, tachometer and a stainless steel Rolex Oyster bracelet.
Sold: HKD 600,000.00
Patek Philipp e Platinum 150th Anniversary Jump-Hour Watch Patek Philippe, Genève. Made in 1989 in a limited edition of 50 examples in platinum to celebrate the 150th anniversary of Patek Philippe, sold on January 24, 1990. Very fine and rare, tonneau-shaped, jump-hour, platinum wristwatch with a platinum Patek Philippe buckle.
Sold: HKD 528,000.00