Phillips in Association with Bacs & Russo Hong Kong Watch Auction XII (5&6 June 2021) – Highlights

Phillips in Association with Bacs & Russo unveils selected highlights from The Hong Kong Watch Auction XII, the two-day watch auction series to be held at JW Marriott in Hong Kong on 5 to 6 June.

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).

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.

Patek Philippe Ref. 3974R pink gold minute repeating English perpetual calendar wristwatch. Circa 1992. Estimate: HK$ 3,875,000 – 7,750,000

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.

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

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.

Introduced in 2012, the Patek Philippe minute repeating perpetual calendar reference 5213G features a minute repeater and retrograde perpetual calendar.

Patek Philippe Ref. 5213G-010 white gold minute repeating perpetual calendar wristwatch. Circa 2020. Estimate: HK$ 2,000,000 – 3,100,000

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.

Patek Philippe Ref. 5959P-001 platinum split-seconds chronograph wristwatch. Circa 2007. Estimate: HK$ 1,248,000 – 2,028,000

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 has a white lacquered dial and painted black Breguet numerals.


Vintage Rolex Cosmograph Daytona timepieces have garnered a much appreciated interest from collectors due to its timeless aesthetics, historical importance and rarity.

Rolex Ref. 6241 yellow gold chronograph wristwatch with champagne “Paul Newman” dial. Circa 1969. Estimate: HK$ 3,400,000 – 5,000,000

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.


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.

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 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

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.

Audemars Piguet Ref. 26589IO.OO.D002CA.01 oversized titanium dual time flying tourbillon wristwatch. Circa 2017. Estimate: HK$ 1,200,000 – 2,000,000

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.

Audemars Piguet Ref. 25554BA yellow gold perpetual calendar wristwatch with black dial. Circa 1986. Estimate: HK$ 780,000 – 1,560,000

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.

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

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.


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: Beijing – Pavilion Ballroom, Rosewood Beijing, Jing Guang Center, Hujialou, Chaoyang District
  • 8-9 May, 10am to 6pm: Shanghai – Jing An Grand Ballroom I, Jing An Shangri-La, 1218 Middle Yan’an Road, Jing An District
  • 6-7 May, 10am to 8pm and 8-9 May, 9am to 12:30pm: Geneva – 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: Shenzhen – Raffles Shenzhen, T7, One Shenzhen Bay, 3008 Zhongxin Road, Nanshan District
  • 22-23 May, 11am to 6pm: Taipei – B1 Art Gallery, Bellavita, No.28, Songren Rd., Xinyi District, Taipei, Taiwan
  • 26 May, 11am to 6pm: Taichung – 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