Phillips in Association with Bacs & Russo has announced 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.
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. 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.