The Hong Kong Watch Auction: XIV by Phillips in Association with Bacs & Russo Realises US$33.6 Million

Phillips in Association with Bacs & Russo achieves HK$264 million/ US$33.6 million during The Hong Kong Watch Auction: XIV.

Held over two days on 27 and 28 May at the JW Marriott Hotel, the 100% sold sale far exceeded its pre-sale estimate of HK$105,256,000 to HK$192,004,000, marking the highest ever total for a various owner watches sale in Asia and the highest ever total for the category at Phillips Asia.

Patek Philippe ref. 3974
Patek Philippe ref. 3974

Patek Philippe once again demonstrated its supremacy with an impressive selection of collectible models, led by a possibly unique Ref. 3974 in a yellow gold case made by the legendary casemaker Jaen-Pierre Hagmann and features the black lacquer dial embellished with the Calatrava Cross logo. This lot was for HK$19.6 million/ US$2.5 million, more than three times its pre-sale high estimate and achieved the new world record for the reference.

Patek Philippe ref. 5723112R-001
Patek Philippe ref. 5723112R-001

Following the world record set for Nautilus when the very first Patek Philippe Nautilus Ref. 5711 with Tiffany Blue® dial sold at Phillips New York last December, the Nautilus Ref. 5723 with the prestigious double stamp by Tiffany & Co. and ruby-set bezel and indexes sold for HK$11.4 million/ US$1.45 million, setting the second highest price ever paid for any Nautilus and the world record for a Nautilus in gold.

F.P.Journe Tourbillon Souverain China 2010
F.P.Journe Tourbillon Souverain China 2010

Important creations by independent watchmakers performed extremely well, with numerous timepieces flying well above their high estimates. The F.P.Journe Tourbillon Souverain “China 2010” limited edition, one out of the five examples created to commemorate the opening of F.P. Journe Boutique in Beijing in 2010, sold for HK$8.7 million/ US$1.1 million, setting a world auction record for F.P.Journe Tourbillon featuring a 40mm diameter case.

Other notable results include a unique stainless steel prototype with an innovative movement almost entirely made out of titanium created by Lang & Heyne, made in collaboration with Phillips in Association with Bacs & Russo and The Lavish Attic, ranking as the highest auction price ever achieved for a wristwatch by Lang & Heyne.

Voutilainen Vingt-8 Hisui
Voutilainen Vingt-8 Hisui

A unique Vingt-8 Hisui watch by Kari Voutilainen was sold for over HK$4.4 million/ US$561,834, the highest price achieved for a Voutilainen timepiece without Complications.

Top Ten Lots of the Hong Kong Watch Auction: XIV

Lot 886: Patek Philippe Ref. 3974, yellow gold minute repeating perpetual calendar wristwatch with moon phases, leap year indication, glossy black lacquered dial, applied Breguet numerals, Calatrava cross logo. Circa 1990

  • Estimate: HK $3,200,000 – 6,500,000/ US$410,000 – 833,000
  • Price Achieved: HK$19,610,000/ US$2,498,314 (world record for the reference)

Lot 956: Patek Philippe Ref. 5723/112R-001, Pink gold wristwatch with baguette-cut ruby-set bezel and indexes, chocolate brown dial, retailed by Tiffany & Co.

  • Estimate: HK $2,350,000 – 3,900,000/ US$301,000 – 500,000
  • Price Achieved: HK$11,442,500/ US$1,457,775 (world record for a Nautilus in gold)

Lot 963C: F.P. Journe, Tourbillon Souverain “China 2010”, platinum wristwatch with tourbillon regulator, one of a limited edition of 5 pieces made to commemorate the opening of F.P. Journe Boutique in Beijing.

  • Estimate: HK $3,900,000 – 7,800,000/ US$500,000 – 1,000,000
  • Price Achieved: HK$8,720,000/ US$1,110,928 (world record for F.P.Journe Tourbillon featuring a 40mm diameter case)

Lot 1009: Voutilainen, a unique and superbly decorated platinum wristwatch with tear drop lugs, Japanese lacquering, cabochon emerald. Circa 2017

  • Estimate: HK$780,000 – 1,560,000/ US$100,000-200,000
  • Price Achieved: HK$4,410,000/ US$561,834 (world record for a Voutilainen timepiece without complications)

Lot 884: Patek Philippe Ref. 5711/1P-001, platinum wristwatch with diamond-set indexes, limited edition of 700 pieces, made for the 40th Anniversary of the Nautilus. Circa 2017

  • Estimate: HK$1,500,000 – 3,000,000/ US$192,000 – 385,000
  • Price Achieved: HK$4,032,000/ US$513,677

Lot 937: Rolex Ref. 16528, yellow gold chronograph wristwatch with grand feu enamel “Ying Yang” concept dial, black “Daytona” signature. Circa 1989

  • Estimate: HK$1,560,000 – 3,120,000/ US$200,000 – 400,000
  • Price Achieved: HK$3,654,000/ US$465,520

Lot 856: F.P.Journe, platinum tourbillon wristwatch with remontoir d’egalité, brass movement. Circa 2002

  • Estimate: HK$1,150,000 – 1,950,000/ US$147,000-250,000
  • Price Achieved: HK$3,654,000/ US$465,520

Lot 909: Rolex, Ref. 6241stainless steel chronograph wristwatch with “Paul Newman” dial. Circa 1968

  • Estimate: HK$1,200,000 – 2,000,000/ US$154,000-256,000
  • Price Achieved: HK$3,276,000/ US$417,362

Lot 944: A. Lange & Söhne, Ref. 730.048F pink gold tourbillon wristwatch, numbered 25 of a limited edition of 30 pieces. Circa 2016

  • Estimate: HK$900,000 – 1,600,000/ US$115,000-205,000
  • Price Achieved: HK$3,276,000/ US$417,362

Lot 929: Richard Mille “RM67-02 Alexis Pinturault” Ref. RM67-02 CA-FQ, Quartz TPT and titanium wristwatch

  • Estimate: HK $2,000,000 – 4,000,000/ US$256,000 – 513,000
  • Price Achieved: HK$3,276,000/ US$417,362

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