Phillips Asia is presenting two online only sales this July: Hong Kong: Watches Online Auction I and Jewels: Online Auction.

Two sales include a selection of exceptional timepieces by renowned watchmakers such as Patek Philippe, Rolex, A. Lange & Söhne, Audemars Piguet and more, as well as an assortment of fine jewellery, including coloured stones, coloured and colourless diamonds, cultured pearls, and signed pieces.

Hong Kong: Watches Online Auction I

The Hong Kong: Watches Online Auction I is the house’s new online auction in response to strong demand in finest timepieces. Featuring 113 rare and important watches, the sale begins on 21 July 8pm HKT and will begin closing on 27 July 6pm HKT.

Leading the sale is an Audemars Piguet Royal Oak Perpetual Calendar in black ceramic with weekly indication and a beautiful moon phase display.

Other highlights include a limited edition Lange 1 Tourbillon in platinum with an ample aperture showcasing the stunning tourbillon carriage at 6 o’clock. The model was released as a limited edition in precious metals in 2000, with 150 pieces in platinum such as the present example.

Offered in the sale is a Patek Philippe’s reference 5164 Travel Time watch in stainless steel double signed by Tiffany & Co.

Another highlight featured in the sale is the Rolex GMT-Master II with a lavishly set bezel in baguette-shaped blue sapphires and white diamonds which is an extremely rare specimen that cannot be missed.

Highlights

• Audemars Piguet Ref. 26579CE black ceramic perpetual calendar wristwatch, circa 2017. Estimate: HK$ 1,150,000- 1,950,000/ US$127,000 – 250,000
• A. Lange & Söhne Ref. 704.025 platinum tourbillon wristwatch, numbered 122 of a limited edition of 150 pieces, circa 2000. Estimate: HK$ 560,000- 1,120,000/ US$71,800-144,000
• Patek Philippe Ref. 5164A-001 dual-time wristwatch retailed by Tiffany & Co., circa 2018. Estimate: HK$ 400,000 – 800,000/ US$51,300-103,000
• Rolex Ref. 116748SA GMT-Master II in yellow gold, circa 2010. Estimate: HK$ 320,000- 480,000/ US$41,000-61,500
• Zenith Defy 21 Chroma Ref. 49.9010.9004/01R947 limited edition white ceramic 1/100th of a second semi-skeletonised chronograph wristwatch, 2022. Estimate: HK$ 65,000 – 95,000/ US$8,300-12,200
• Vacheron Constantin Ref. 49150/000W-9015 limited edition stainless steel and titanium chronograph wristwatch, circa 2016. Estimate: HK$ 90,000 – 160,000/ US$11,500-20,500

Concluding a white glove season for Phillips Watches, The New York Watch Auction: SIX realized $30.3 million – more than tripling its pre-sale total low estimate of $9.8 million. Bringing the Spring season total for the category to $127.2 million, the results reaffirm Phillips’ place as the global market leader.

Multiple records for individual models in the fields of vintage, contemporary, and independents were achieved during the live auction at Phillips’ New York headquarters at 432 Park Avenue. Bidders from the international community, across nearly 70 countries, vied for rare and historic timepieces, participating in the room, online, and over the phone.

Leading the auction was the very first platinum George Daniels Anniversary Watch ever made, bearing the unique serial number “00.” Realizing $2,389,500, it set a record for any George Daniels wristwatch – and any British-made wristwatch – sold at auction.

Following its launch in 2010, a total of 47 watches were made to commemorate the 35th anniversary of the co-axial escapement, with just four examples produced in platinum, like the present lot. George Daniels wanted the Anniversary model to also be a celebration of his life’s work, and the platinum “00” is a wonderful representation of the best in handmade, traditional English watchmaking. A portion of the proceeds from the sale will benefit The George Daniels Educational Trust, The Alliance of British Watch and Clock Makers, and the Horological Society of New York.

A fresh-to-market Rolex Paul Newman Daytona Lemon ref. 6264 soared past its estimate to over $2 million. Named “El Limoncito” as an homage to the Mexican origins of the family who owned this watch since its production in 1969, the watch’s bracelet is also stamped “Hecho in Mexico.” With its grèné yellow dial, black subdials, and white graphics, the Lemon is perhaps the most striking and unusual configuration of Cosmograph Daytona Paul Newman and is seldom seen publicly.

Independent makers also saw fierce competition, with three examples by F.P.Journe selling for over $1 million. A unique and historically important F. P.Journe platinum Chronomètre Souverain wristwatch, which was gifted to George Daniels by none other than Mr. Journe, realized $1,482,000, nearly six times its low estimate and a world record for the model at auction.

The Tourbillon Souverain with jade dial saw spirited bidding up to $1,240,000 against an estimate of $200,000-400,000, while the Tourbillon Souverain No. 035/99T sold for $1,361,000.

Timepieces by DeBethune, Greubel Forsey, Urban Jurgensen, and Konstantin Chaykin also performed exceptionally well.

TAG Heuer Museum acquired James Garner’s unique Carrera for a record price of $176,400.

The upcoming Phillips online watch auctions are The Horological Society of New York Charity Online Auction II sale taking place from 6 to 13 July and the Hong Kong Online Watch Auction I taking place from 21 to 28 July.

Top Ten Lots

Lot 12: George Daniels, Anniversary

An extremely rare, spectacular, and historically important platinum co-axial limited-edition wristwatch with date and power reserve indication, bearing serial number “00”, with a portion of the proceeds to benefit The George Daniels Educational Trust, The Alliance of British Watch and Clock Makers, and the Horological Society of New York, Circa 2019. Estimate: $500,000 – 1,000,000. Sold for $2,389,500 (world auction record for a British wristwatch).

Lot 111: Rolex, Daytona Paul Newman Lemon, Ref. 6264

An outstanding, fresh-to-the-market, exceptionally wellpreserved, and extremely rare yellow gold chronograph wristwatch with ‘Paul Newman Lemon’ exotic dial, white subdial graphics, and bracelet, offered by the family of the original owner, Circa 1969. Estimate: $600,000 – 1,200,000. Sold for $2,087,000 (world auction record for the model)

Lot 115: F.P. Journe, Chronometre Souverain

A unique and historically important platinum wristwatch with power reserve indication, Presented to George Daniels, with signed F. P. Journe letter and presentation box, 2010
Estimate: $250,000 – 500,000. Sold for $1,482,000 (world auction record for the model).

Lot 116: F.P. Journe, Tourbillon Souverain

A very early, historically important, and attractive platinum tourbillon wristwatch with remontoir d’egalité, and certificate of authenticity, numbered 035/99T, 1999. Estimate: $300,000 – 600,000. Sold for $1,361,000.

Lot 10: F.P. Journe, Tourbillon Souverain

A sublime and extremely rare tourbillon wristwatch with jade dial, constant force remontoire, power reserve, dead beat seconds, certificate of authenticity, and presentation box, 2015. Estimate: $200,000 – 400,000. Sold for $1,240,000 (world auction record for the model)

Lot 19: Patek Philippe, Ref. 5016R-010

An extremely special, rare, and well-preserved pink gold perpetual calendar minute repeating tourbillon wristwatch with additional black diamond dial, retrograde date, moon phase, Breguet numerals, Circa 2001. Estimate: $300,000 – 600,000. Sold for $840,700.

Lot 11: Roger Smith, Series 2 Open Dial

A magnificent and extremely limited platinum wristwatch with open dial, power reserve indication, booklet, and presentation box, 2017. Estimate: $150,000 – 300,000. Sold for $840,700 (world auction record for the brand)

Lot 110: Rolex, Daytona Rainbow, Ref. 116595RBOW

A like new, dazzling, audacious, and unworn pink gold, diamond, and sapphire-set chronograph wristwatch with bracelet, guarantee, and presentation box, Circa 2018. Estimate: $200,000 – 400,000. Sold for $693,000 (world auction record for the model)

Lot 49: A. Lange & Söhne, Lange 1 Tourbillon Handwerkskunst, Ref. 704.048

An extremely rare and sublime platinum tourbillon wristwatch with oversized date display, guarantee, and presentation box, numbered 16 of 20, commemorating the 20th anniversary of the Lange 1, 2014. Estimate: $120,000 – 240,000. Sold for $529,200 (world auction record for the model)

Lot 50: Patek Philippe, Ref. 3939HG-001

Only the fifth example to appear publicly, a factory double sealed white gold minute repeating tourbillon wristwatch with Breguet numerals and Certificate of Origin, 2007. Estimate: $250,000 – 500,000. Sold for $504,000.

Quick facts

Name of the auction: The New York Watch Auction: SIX
Date: 11-12 June 2022
Sale Total: $30,332,230 / £24,624,343 / €28,803,594
Lots Sold: 162
Lots Offered: 162
Sold by Lot: 100
Sold by Value: 100%

Source: Phillips

Phillips has unveiled the full catalogue for The New York Watch Auction: SIX, the company’s first-ever spring watch auction in New York.

Featuring over 160 lots, in addition to the George Daniels Anniversary previously announced, the sale will also be led by a fresh-to-market Rolex Paul Newman Daytona Lemon ref. 6264 “El Limoncito,” estimated at $600,000-1.2 million.

The New York Watch Auction: : SIX will also offer several other important and historically significant time pieces from Rolex, Patek Philippe, Audemars Piguet, F.P.Journe, Richard Mille, Cartier, De Bethune, Roger Smith, Omega, Heuer, and Zenith, among others.

The auction will take place over the course of two sessions on 11-12 June, with lots 1-82 offered on Saturday, the 11th, and lots 83-163 offered on Sunday, the 12th.

Leading the selection of Rolex watches is “El Limoncito,” an exceptionally well-preserved Rolex Paul Newman Daytona Lemon ref. 6264, which has remained in the same family collection for over half a century, and features the rarest exotic dial for the model.

A superb selection of top-quality vintage and modern Patek Philippe watches will be offered, led by the legendary ref. 5016 minute repeater with perpetual calendar and tourbillon in 18 karat rose gold, and an incredibly well-preserved vintage reference 3450 perpetual calendar with factory sapphire exhibition caseback complete with box and original certificate.

An extraordinary selection of vintage and modern Nautilus models, including an 18 karat “Jumbo” ref. 3700/1 retailed by Gubelin – one of only three ever offered publicly, a ref. 5976/1G 40th Anniversary from 2016, and a now-discontinued ref. 5711/1A-014 Nautilus with green dial will also be offered.

The auction will also feature an outstanding selection of models from Independent and other top collectors’ brands. F.P.Journe highlights include a very early Tourbillon Souverain with serial number 035/99T, an extremely rare 40mm Tourbillon Souverain model with jade dial, and a unique Harry Winston Opus 1 Chronomètre à Résonance – a collaboration between Harry Winston and F.P.Journe from 2001.

Other noteworthy highlights include an A. Lange & Söhne Lange 1 Tourbillon Handwerksunst – 1 of only 20 examples made, and a Roger Smith Series 2 Open Dial in platinum. The sale will also offer a selection of timepieces with special serial numbers including a De Bethune Titan Hawk V2 with serial number 000, and a Greubel Forsey Double Tourbillon 30o Technique Blue with serial number 1.

Finally, this sale will present Chapter II of a special collection of watches known as “Ride the Wave” – nearly 20 extremely well-preserved vintage and modern watches from a renowned American surgeon, surfer, and collector.

As announced earlier this season, the sale will also include watches from the personal collection of Academy Award-Nominee James Garner, The No. 00 George Daniels Anniversary Watch, and the Unique Chronomètre Souverain Gifted to George Daniels by F.P. Journe.

Auction Highlights

Lot 111: ROLEX, Cosmograph Daytona Paul Newman “El Limoncito”, ref. 6264

This fresh-to-the-market, stunning 18K yellow gold reference 6264 with Paul Newman dial, is nicknamed “El Limoncito.”

With its grèné yellow dial, black subdials, and white graphics, the Lemon is perhaps the most striking and unusual configuration of Cosmograph Daytona Paul Newman and is seldom seen publicly.

A Spanish-language play on the Italian nickname for the Lemon, the so-called “Limoncino,” “El Limoncito” is a nod to the Mexican origins of the family who owned this watch since its production in 1969.

Additionally, the clasp of the Rolex bracelet is stamped “Hecho in Mexico,” indicating it was fabricated in Mexico under the specifications of Rolex. Estimate: $600,000 – 1,200,000.

Lot 110: ROLEX, Cosmograph Daytona “Rainbow”

This stunning example of the Rainbow Daytona is virtually impossible to acquire at retail, even for longstanding customers of Rolex. The present lot has remained virtually unworn since its initial purchase in 2018 and retains all of its original accessories.

The reference 116595RBOW is a captivating reminder of the joie de vivre that wearing a watch can inspire, as well as the creative, technical, and aesthetic excellence of the Rolex brand. With 36 rainbow-hued sapphires, 56 diamonds adorning the lugs and crown guards, and rainbow sapphires indicating the hours, every single gemstone used is internally flawless.

Each sapphire is perfectly cut to fit without prongs into the bezel, and selected with the right color for transitioning to the stones on adjacent sides, so that rather than seeming like 36 individual stones, they blend into one another.

Due to the difficulty in sourcing these stones, subjecting them to Rolex’s high standards, and then fitting them into the watch, production numbers remain extremely low and across all metals, very few have surfaced at auction. Estimate: $200,000 – 400,000.

Lot 19: PATEK PHILIPPE, Ref. 5016R-010

This outstanding Patek Philippe 5016R comes with two stunning dials. Fitted with an anthracite gray dial with applied Breguet numerals and accompanied by an extra, extremely rare semi-gloss black dial with diamond hour markers within pink gold settings.

Both dials bear the same movement number as on the original certificate – confirming their originality to the watch. Produced in yellow, white, and rose gold, as well as platinum (and a unique piece for charity in stainless steel) reference 5016. It is believed that approximately 200 examples were manufactured until production ended in 2011.

Further accompanied with its original Certificate of Origin, chronometer certificate, presentation box, additional caseback, the presence of an additional dial made especially for this watch elevates the importance of an already outstanding and singular timepiece. Estimate: $300,000 – 600,000.

Lot 90: PATEK PHILIPPE, Ref. 3450 Sapphire Caseback

Another stunning lot to join Phillips’ June sale is the Patek Philippe reference 3450. Launched in 1981, reference 3450 was the successor to the reference 3448 – Patek’s very first automatic perpetual calendar wristwatch.

While aesthetically similar to reference 3448, it most notably features a leap year indication on the dial. Setting this specific ref. 3450 apart from its kin, it is one of only 6 total examples known to be fitted with a sapphire caseback – a special request from the original owner and confirmed by a letter from Patek Philippe.

Since appearing at auction in 2004 when it was consigned by the original owner, it has remained ensconced in one of the greatest American collections of vintage Patek Philippe wristwatches.

Fully corroborated and in a breathtaking state of preservation, the flawless dial is housed within a case in near-perfect condition, having never been previously polished.

Complete with its original Certificate of Origin, original box, and correspondence from Patek Philippe confirming the originality of the sapphire case back, it is one of the finest examples of a reference 3450 to crown a collection of the world’s best timepieces. Estimate: $250,000 – 500,000.

Lot 88: PATEK PHILIPPE, Nautilus “Jumbo” Ref. 3700/1 retailed by Gübelin

The present watch is only the third ever Gübelin-signed Nautilus 3700/1 in yellow gold to appear at auction, with this particular one having never been offered publicly. It is a stunning example, preserved in all original condition, with its dial flawless and original to the watch.

The original, Gay Frères-signed flat Nautilus clasp is correct, and the bracelet remains absolutely rigid and tight throughout. The “Jumbo” nickname referred to the 42mm case diameter, which was considered oversized for the era. While the Nautilus was initially not well received, its popularity quickly grew, and soon became a mainstay of Patek Philippe’s collection with subsequent models including chronographs and perpetual calendars.

The original reference 3700/1 was in production from its introduction in 1976 until 1981 and featured a straight bracelet, versus the tapered bracelet of the successor reference 3700/11. Estimate: $120,000 – 240,000.

Lot 163: PATEK PHILIPPE, Nautilus, Ref. 5711/1A-014

In 2021, Patek Philippe announced the imminent discontinuation of the reference 5711/1A in its entirety and introduced a special “olive green” dial to only be produced for one year to mark its departure.

Alongside a baguette diamond-set bezel variant, these two final 5711s (apart from the limited run of 170 “Tiffany Blue” double signed pieces) would mark the end of the production of the reference that has been a mainstay of the Patek Philippe collection since its introduction in 2006.

Given that no more of these 5711/1A-014 pieces will be produced and are now fully discontinued, the present example is one of the extremely few opportunities to acquire this intensely limited run of one of the most iconic sports watch references of all time. Estimate: $80,000 – 160,000.

Lot 116: F.P. JOURNE, Tourbillon Souverain No. 035/99T

The Tourbillon Souverain offered in the June sale is a first-generation model in platinum with a superb white gold dial, eloquently embodying F.P. Journe’s inimitable style both in terms of aesthetics and technical mastery.

Made from 2000 to 2005, these first-generation Resonance models, like the present lot, feature rhodium-plated brass movements and a 38mm case. This watch is an extremely early and rare example of Journe’s Tourbillon with remontoir d’egalité and is numbered 035, dating from 1999, and is classified as a second-generation version of the Tourbillon due to its similarity to the Souscription series dials.

Completely original, the dial’s printed text appears as though it is floating over the dial surface – a trait that is prominently featured in this example, where it can almost seem as though one is seeing double. Furthermore, it exhibits the remarkable reflectivity, sheen, and luster found in Journe’s’ earliest dials that is today so coveted by collectors. The case back engraving style is Journe’s earliest-extremely shallow and also extremely sought after.

The present lot offers the rare opportunity of obtaining a fresh-to-market, historically significant wristwatch integral to understanding the evolution of one of the most influential contemporary watchmakers. Estimate: $300,000 – 600,000.

Lot 10: F.P.JOURNE, Tourbillon Souverain Jade Dial

François-Paul Journe introduced the Tourbillon Nouveau (reference “TN”) in 2003 to replace the previous Tourbillon (reference “T”), which had been in production since 1999. The Tourbillon Nouveau can be seen as a wholesale upheaval of the previous tourbillon movement. The brass movement was discontinued and replaced by a movement made entirely of 18 karat pink gold — a first for the watch industry.

François-Paul also incorporated a deadbeat seconds mechanism, further adding to the watch’s technical superiority, as it allows for the seconds hand completely stop as the escapement continues to beat, not moving until one second has elapsed.

This watch comes with an amazing Jade dial, created by the in-house dial makers of F.P. Journe, Les Cadraniers de Genève, with great skill and at great expense. Jade is rarely used in timepieces as at a certain thickness, jade will crack, and it requires extreme care, skill, and artisanship to place in a watch dial.

Extremely rare, it was delivered in 2015 to the present owner, who is offering it for sale for the very first time – fully complete with original certificate, purchase invoices, product literature, extra strap, and presentation box. Estimate: $200,000 – 400,000.

Lot 82: RICHARD MILLE Felipe Massa Black Night Ref. RM011-FM

Since launching his first model in 2001, Richard Mille has pushed the limits of horology making some of the most technical watches of the 21st century. The RM011 was first introduced in 2007 and was the firm’s first chronograph model with annual calendar featuring an oversized digital date display on a skeletonized dial.

Since its initial launch, the reference has developed a cult following and an iconic status as one of the brands most important and sought-after models. Traditionally encased in titanium, the present limited-edition model from 2015 continued the relationship between Mille and racecar driver, Felipe Massa, and is made with a carbon NTPT (North Thin Ply Technology) case – a lightweight material capable of withstanding the extreme forces of Formula 1 racing.

This extremely fascinating Richard Mille flyback wristwatch was produced in a limited number of 100 examples. Estimate: $200,000 – 400,000.

Lot 11: ROGER SMITH, Series 2 Open Dial

With just four platinum examples of Roger Smith’s open-worked Series 2 ever manufactured out of a total of 12 across all metals, the Series 2 offered here presents a unique opportunity to acquire one of the rarest and most exceptional independently-made timepieces of the 21st century.

Directly from the bench of Roger Smith to the original owner, and then to Phillips New York, the present Series 2 cased in a 40mm platinum case was executed with a sublime open-worked dial at the request of the owner.

The movement is where English watchmaking takes center stage as far as the combination of mechanical performance and aesthetic skill. It is none other than Roger Smith’s improved Daniels’ co-axial escapement providing the regulation, as Roger takes on the mantle of British horology and the legacy of his mentor, with a single-wheel co-axial escapement.

The Series 2 Open Dial was discontinued and reintroduced as a separate reference, the Series 5. Estimate: $150,000 – 300,000.

Lot 49: A. LANGE & SÖHNE, Lange 1 Tourbillon Handwerkskunst

Also featured in the sale is a spectacular A. Lange & Söhne that bears the rarified title of Lange 1 Tourbillon Handwerskunst, It is an exceptional example of Teutonic watchmaking mastery hardly ever seen on the secondary market.

The Lange Handswerksunst watches, literally meaning “craftsmanship” in German, typically display a level of adornment and workmanship unseen in their regular production counterparts.

Handwerkskunst pieces are all assembled by one single master watchmaker, and the assembly time is increased compared to normal Lange timepieces. This particular Lange 1 Tourbillon Handwerskunst features a deep black, hand-fired enamel dial made in-house by the artisans at A. Lange & Söhne with an exposed tourbillon and spectacular balance cock finished with black polishing.

Released in 2014 to commemorate the 20th anniversary of the Lange 1, the present example is replete with its original accessories and numbered 16 of 20, consigned by the original owner in crisp overall condition. Estimate: $120,000 – 240,000.

Lot 125: AUDEMARS PIGUET, Offshore “End of Days” Prototype, Ref. 25770SN

This historically important Audemars Piguet prototype chronograph wristwatch was worn by Arnold Schwarzenegger in the thriller “End of Days” (1999). Schwarzenegger reportedly told Audemars Piguet “I want the watch to have a black case and yellow numerals and hands”.

The result was the current prototype No. 248, as well as a second timepiece No. 249, both of which are noted in the AP archives as “Destination Schwarzenegger 25 September 1998”. The Royal Oak and Royal Oak Offshore are iconic timepieces recognized for their modern design and their enduring legacy in the horological world, recently celebrated by Phillips’ Royal Oak 50th Sale in Geneva. Estimate: $25,000 – 50,000.

Lot 107: PATEK PHILIPPE, Ref. 130 from Ride the Wave Chapter II

The Patek Philippe, Ref. 130 is a timepiece that can certainly be considered one of the finest representatives of this classic and important reference known.

With its stunning two-tone silvered dial with all of its raised, hard enamel perfectly intact, it first appeared at auction in 2005 when it was consigned by the original owner’s family as a graduation gift. Purchased by the consignor at that time, it has been kept as a treasured watch in the Ride the Wave collection and remains in outstanding overall condition complete with its original Certificate of Origin and presentation box.

Crisp lugs and bezel edges, perfectly preserved satin finishing on all surfaces, and a beautifully aged original dial all indicate the watch was hardly ever worn throughout its lifetime. So remarkable is this example, it is prominently featured in John Goldberger’s book, “Stainless Steel Patek Philippe Watches”. Estimate: $100,000 – 200,000

Lot 109: ROLEX, “Datocompax” “Killy” Ref. 5036 from Ride the Wave Chapter II

Produced in very small numbers in steel, yellow, and pink gold between 1948 and 1951, reference 5036 is one of the rare triple calendar chronograph wristwatches, dubbed “Datocompax” manufactured by Rolex beginning in the late 1940s, and now known as the “Killy”.

The reference 5036 is the rarest and most sought-after by collectors – and in 18 karat pink gold, it’s the rarest of all metals. Interestingly, it bears an applied Roman numeral twelve, which is not present in the later references.

Preserved in the “Ride the Wave” collection since its acquisition at auction in 2013, this reference 5036 is further testament to the collector’s attention to quality and excellence. The lovely two-tone “no-lume” dial has aged to a contrasting warm ivory color, and the case still bears the oft-lost case numbers engraved on the edge of the caseback.

Furnished with a period-correct Rolex strap and buckle, it is one of the rarest and highest quality “Datocompax” “Killy” examples ever made available to the public. Estimate: $120,000 – 240,000

Auction details

Name: The New York Watch Auction: SIX
Preview: 4-10 June 2022
Auction: 11-12 June 2022
Location: 432 Park Avenue, New York
Discover all lots at:  https://www.phillips.com/auctions/auction/NY080222

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 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.

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.

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.

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

[View all lots]

Phillips in Association with Bacs & Russo achieved a total of CHF 22,303,780/ $22,616,032/ €21,538,760 in The Royal Oak 50th Sale on 6 May – a white glove sale that more than tripled its pre-sale low estimate of CHF 6.8 million.

The sale took place on Friday, 6 May, in Geneva, and offered 88 tightly curated lots. The sale precedes The Geneva Watch Auction: XV, which follows on Saturday and Sunday 7-8 May 2022. The majority of lots soared above their high estimates, including several record-breaking watches.

Collectors from across 54 countries joined the auction, and online participation continued to increase exponentially, with more than 1000 online registered bidders. This resulted in half of the lots presented in the Royal Oak 50th selling to online bidders, with 430 watch aficionados participating in person in the saleroom.

The impressive and highly anticipated star-lot, a Royal Oak reference 5402ST A2 – the second Royal Oak ever made – added extra fervor to the bidding. The watch was one of the four Royal Oak models presented to the press and public at the opening of the Basel watch fair in 1972.

During the auction, it eventually surpassed the CHF 1 million mark realizing CHF 1,058,500, therefore selling five times its pre-sale low estimate.

Another impressive result was achieved by the Royal Oak perpetual calendar in platinum, reference 25654PT with copper brown dial, and double-signed by Asprey realized CHF 1,022,200, doubling its pre-sale high estimate.

An icon probably worn by an icon, The Lagerfeld Royal Oak reference 5402ST, a very distinctively blackened stainless-steel Royal Oak Jumbo model, fetched CHF 937,500. The watch, in all likelihood, was bought in Italy in 1974 and is understood to have been worn by the famous German designer, creative director, fashion designer and artist, Karl Lagerfeld.

Finally, another remarkable result was achieved by the Royal Oak “Tuscan” Jubilée ref. 14802P limited edition platinum wristwatch with blue Tuscan dial, date, bracelet, made to celebrate the 20th anniversary of the model, which eventually sold for CHF 804,400.

Top Ten Lots of the Royal Oak 50th

Lot 8: Audemars Piguet Ref. 5402ST Royal Oak A series, “The A2” – An historically important and extremely well-preserved stainless-steel wristwatch with date, bracelet, box and certificate of origin.

• Estimate: CHF 200,000-400,000
• Achieved: CHF 1,058,500/ $ 1,073,319/ € 1,022,193 (world record for a vintage Royal Oak ever at auction)

Lot 40: Audemars Piguet Ref. 25654PT Royal Oak – An extremely rare and attractive platinum perpetual calendar wristwatch with brown dial, bracelet, certificate and box retailed by Asprey bearing N0. 1.

• Estimate: CHF 250,000-500,000
• Achieved: CHF 1,022,200/ $1,036,511/ € 987,138 (World record for any perpetual calendar Royal Oak)

Lot 88: Audemars Piguet Ref. 5402ST Royal Oak Jumbo “Karl Lagerfeld” – A very distinctive blackened stainless-steel wristwatch with date and bracelet.

• Estimate: CHF 100,000-200,000
• Achieved: CHF 937,500/ $ 950,625/ € 905,343

Lot 10: Audemars Piguet Ref. 14802PT Royal Oak “Tuscan” Jubilée – An extremely attractive limited edition platinum wristwatch with blue Tuscan dial, date, bracelet, made to celebrate the 20th anniversary of the model.

• Estimate: CHF 250,000-500,000
• Achieved: CHF 804,400/ $ 815,662/ € 776,809 (world record for the model)

Lot 33: Audemars Piguet Ref. 25829TP Royal Oak – An extremely rare and superb tantalum and platinum perpetual calendar wristwatch with open-worked dial and bracelet, part of a 16-pieces limited series.

• Estimate: CHF 120,000-240,000
• Achieved: CHF 768,100/ $ 779,259/ € 742,140 (world record for the model)

Lot 52: Audemars Piguet Ref. 5402ST Royal Oak Jumbo “Khanjar” – An extremely rare and fine stainless-steel wristwatch with date and bracelet, made for the Sultanate of Oman.

• Estimate: CHF 150,000-300,000
• Achieved: CHF 756,000/ $ 766,584/ € 730,069

Lot 15: Audemars Piguet Ref. 25636PT Royal Oak – A superbly rare and incredibly attractive platinum perpetual calendar wristwatch with open-worked dial, moonphases, bracelet and box.

• Estimate: CHF 200,000-400,000
• Achieved: CHF 680,400/ $ 689,925/ € 657,052

Lot 54: Audemars Piguet Ref. 5554ST Royal Oak “Triple Serial” – A supremely rare stainless steel perpetual calendar wristwatch with moonphases, 4-digit reference and “triple serial” case. The first and thinnest Royal Oak perpetual calendar model ever produced, part of a 49 pieces series.

• Estimate: CHF 80,000-160,000
• Achieved: CHF 680,400/ $ 689,925/ € 657,062

Lot 72: Audemars Piguet Ref. 25659BA – An impressive yellow gold and diamond perpetual calendar wristwatch with open worked dial, part of a 3-pieces limited series.

• Estimate: CHF 250,000-500,000
• Achieved: CHF 630’000/ $ 638,820/ € 608,391

Lot 61: Audemars Piguet Ref. 25654ST Royal Oak – A very attractive stainless steel perpetual calendar wristwatch with salmon dial, bracelet, certificate and box.

• Estimate: CHF 100,000-200,000
• Achieved: CHF 579,600/ $ 587,714/ € 559,719

Auction summary

Auction name: The Royal Oak 50th by Phillips in Association with Bacs & Russo
Total amount achieved: CHF 22,303,780/ $22,616,032/ €21,538,760
Lots sold: 88
Lots offered: 88
Sold by lot: 100%
Sold by value: 100%

Phillips in Association with Bacs & Russo has now revealed the creations by the independent watch makers for The Hong Kong Watch Auction: XIV, which will take place on 27 and 28 May at the JW Marriott in Hong Kong.

Besides important timepieces from powerhouses such as Patek Philippe, Rolex and A. Lange & Söhne, the Hong Kong Watch Auction: XIV will also have a selection of carefully curated timepieces from some of the most creative and talented independent watchmakers.

The notable independent brands highlighted in this sale are Richard Mille, F.P. Journe, Lang & Heyne, Voutilainen, Christophe Claret, De Bethune, Gérald Genta, MB&F, Urwerk and Laurent Ferrier.

Richard Mille Ref. RM67-02 CA-FQ, Quartz TPT and titanium wristwatch, Circa 2021

Ever since the release of his first model in 2001 Richard Mille has been known for visionary and avant-garde designs with an aesthetic never seen before in the history of watchmaking.

The present RM 67-02 is in perfect tune with Mille’s philosophy pushed to the limits as this ultra light piece weighs a jaw dropping mere 32 grams (including the strap) thanks to the combination of TPT composite materials and grade 5 titanium of the case.

It was developed with Alexis Pinturault the French ski champion, who is the most successful French skier in World Cup history with 34 World Cup victories.

Estimate: HK$2,000,000 – 4,000,000/ US$256,000-513,000

Richard Mille Ref. RM011 AH Ti, black-coated titanium skeletonized tonneau-shaped flyback chronograph wristwatch, numbered 2 of a limited edition of 30 pieces, circa 2009

With an ever engaging relationship with Formula 1, Richard Mille has offered numerous models in collaboration with professional athletes over the years, with one of the most recognised being the Felipe Masa series of RM011.

The present example RM011 belongs to one of the earliest limited edition models made under the RM011 umbrella. It is also one of the very first examples to feature a DLC-coated titanium case giving an all-black appeal contrasted with white, red and yellow accents, colours that pays its tribute to the racetrack. This piece was made especially for official Richard Mille authorized dealer, Chronopassion founded by respected collector and watch maker Laurent Picciotto.

Estimate: HK$1,100,000 – 2,000,000/ US$141,000-256,000

F.P. Journe Chronomètre à Resonance, platinum dual-time wristwatch, Circa 2003

Launched in 2000 the Chronomètre à Resonance had the effect of a tidal wave in the horological world as it was the world’s first wristwatch using the resonance phenomenon. The movement is composed of two independent balances alternatively serving as an “exciter” and “resonator”.

When in motion, the balances create the resonance effect and beat in opposition, naturally evening out each other’s discrepancies and thus permitting greater accuracy.

Made from 2000 to 2005, the first generation Chronomètre à Resonance features rhodium plated brass movements and a 38mm case. The present example is from circa 2003 in platinum with an attractively aged copper dial. This watch is complimented by its full set of accessories.

Estimate: HK$1,300,000 – 2,300,000/ US$167,000-295,000

F.P. Journe Tourbillon Souverain, platinum tourbillon wristwatch, Circa 2002

Engraved No. 191/02T, the present F.P. Journe Tourbillon Souverain in platinum from 2002 can be identified as part of the fourth generation of Journe’s Tourbillon Souverain with brass movements.

Measuring at 38mm in diameter, these fourth generations were produced between 2001 until 2003 with an estimated run of 320 examples. Cased only in platinum and pink gold, these timepieces were offered with dial plates from the most common yellow gold, followed by white gold, and like the present example in pink gold as being the rarest variation.

Estimate: HK$1,150,000 – 1,950,000 / US$147,000-250,000

F.P. Journe Octa Calendrier, pink gold annual calendar wristwatch, Circa 2006

While the very first timepieces from F.P. Journe are mostly referred to the Tourbillon Souverain and the Resonance, it is around the same time where Journe also introduced the Octa Calendrier, being the first self-winding wristwatch by the firm.

Featuring an annual calendar complication with its signature asymmetric dial with two windows for day and month indication the date is indicated via retrograde style with a central hand.

The present example F.P. Journe Octa Calendrier in pink gold from circa 2006 with a 38mm diameter case belongs to an extremely rare variant featuring a black mother-of-pearl dial launched as a limited edition of 10 pieces in 2005 for Singaporean retailer Sincere Fine Watches.

Estimate: HK$470,000 – 935,000/ US$60,300-120,000

Lang & Heyne Friedrich II Remontoir “Prototype”: A unique stainless steel prototype wristwatch with black enamel dial, luminous hands, titanium movement, Circa 2021

With an estimated production of no more than 100 timepieces per year, German independent brand Lang & Heyne creates exclusive and innovative timepieces for watch lovers.

This season, Phillips is presenting the Friedrich II Remontoir “Prototype”, a unique timepiece featuring an entirely new movement developed by Lang & Heyne, made in collaboration with Phillips in Association with Bacs & Russo and The Lavish Attic.

Lang & Heyne integrated a Remontoir mechanism into its Caliber VI movement, but with a slight twist, using titanium as the base material. It is almost unheard of until now, with movement made in titanium, a material which is hard to manufacture and process mainly due to its hardness and many other interesting properties that make it even harder for most manufacturers to consider it as an option to create a movement out of it.

The Friedrich II Remontoir “Prototype” model is simple and understated. The minimalistic appearance symbolises the amusement of simplicity without having to forego exclusive details. The dial indices and handcrafted hands are filled with superluminova, a non-radioactive and nontoxic afterglow pigment used to illuminate makers on watch faces. The bracelet was exclusively designed and produced in stainless steel just for this unique piece.

With the complex mechanism from Lang & Heyne, the serene black enamel dial, and an innovative approach to use titanium for the movement, the present timepiece offers a tremendous combination of breakthroughs for any discerning collector.

Estimate: In excess of HK$460,000 / US$59,000 (offered with no reserve)

Two more Lang & Heyne watches are available. First one is Anton in stainless steel. It is a flying tourbillon watch featuring a rectangular case and grand feu enamel dial. Estimate: HK$260,000 – 510,000. The second piece is Lang & Heyne Georg, a platinum watch with rectangular case, small seconds display and enamel dial.

Voutilainen Vingt-8 Hisui: A unique platinum wristwatch with tear drop lugs, Japanese lacquering, cabochon emerald, Circa 2017

The stunning Vingt-8 Hisui featured in this season’s sale is a piece unique by Kari Voutilainen. This creation also won the GPHG Artistic Crafts Watch Prize in 2014. It was created in collaboration with one of the greatest lacquer studio in Japan, Unryuan, under the guidance of Master Tatsuo Kitamura.

Meticulously selected according to colour and quality, the dial is crafted with natural elements including gold dust, gold leaf, great green turban shells and abalone shell found from New Zealand.

It is also worth noting that the chameleon like dial is ever-changing in shades from various angle, while viewed in its frontal manner the dial shines in green and blue, on the other hand when viewed from its profile, the dial can change into a stunning blue only shade. Operated by the Cabochon emerald set crown, the in-house movement is the very same calibre found in the Vingt-8 series.

Estimate: HK$780,000 – 1,560,000 / US$100,000-200,000

Christophe Claret Soprano: A limited edition white gold and PVD-coated titanium semi-skeletonized minute repeating tourbillon wristwatch, Circa 2012

With an expertise for minute repeating timepieces, Christophe Claret released the Soprano Minute Repeater equipped with a 1-minute tourbillon escapement and an impressive Westminster chime with four hammers and patented cathedral gongs.

With a futuristic design language, the case is composed of white gold for the bezel and caseback while the main case and casebands are composed of grade 5 PVD-coated titanium to maximise the quality of the chime totalling 45mm in diameter. Requiring extreme precision to achieve the perfect Westminster Chime each individual gong must be executed to the highest level of accuracy. The present example of Christophe Claret Soprano Minute Repeater watch is numbered 6.

Estimate: HK$260,000 – 510,000/ US$33,300-65,400

De Bethune

During the sale, Phillips will be offering highly sought-after De Bethune models like DB 25 Starry Various in Titanium, DB5S Stainless Steel, DB 24 Titanium Big Power Super Sport, DB28GS Grand Bleu dive watch in Titanium and Black Zirconium, DB S-R Pink Gold Skeleton, DB 25 Starry Sky in White Gold and DB28 Titanium.

Laurent Ferrier

The organizers are also auctioning Laurent Ferrier timepieces like Galet Classic in 18K white gold and Galet Square Micro-Rotor Autumn model featuring stainless steel case and a salmon dial.

MB&F

The sale is also offering a MB&F HM3 Megawind Final Edition watch made in 2015, in a limited edition of 25 pieces. It features a black PVD coated gold and titanium case. Estimate: HK$200,000 – 400,000. Another lot from MB&F is a Horological Machine No8 CAN-AM, crafted in 18K pink gold and titanium. Estimate: HK$250,000 – 450,000.

Auction schedule

The Hong Kong Watch Auction: XIV
Auction: 27 – 28 May, 2022
Hong Kong Preview: 24- 28 May, 2022
Location: JW Marriott Hong Kong, 88 Queensway, Admiralty

Following the announcement of selected highlights from The Hong Kong Watch Auction: XIV, which will take place on 27 and 28 May, Phillips has announced an additional highlight that will be featured in the sale – the F.P.Journe Tourbillon Souverain “China 2010” limited edition in platinum.

The present example features a red lacquered dial displaying the five stars as seen on the national flag of China is one out of the five examples created to commemorate the opening of F.P. Journe Boutique in Beijing in 2010. It is exceedingly rare and important due to its bold design and important commemoration of one of the brand’s most important markets.

Established in 1999, F.P. Journeis determined by collectors around the world as one of the few grails of the world of haute horology. Epitomizing connoisseurship and exclusivity, Journe timepieces are exceedingly rare with an extremely low annual output of less than 1,000 pieces worldwide.

As one of the most exceptional contemporary watchmakers, the founder Francois-Paul Journe has successfully blended the perfect balance of art and mechanical engineering, with an emphasis in creating innovatively sound complications, functions, paired precisely and logically with its finishing and materials.

Since 2002, F.P. Journe has been awarded a total of 7 awards at the prestigious GPHG. Among which, he was granted the highest award, Aiguille d’Or “Golden Hand”, at the GPHG in 2004 for the F.P. Journe Tourbillon Souverain, the first tourbillon wristwatch paired with remontoire in history.

In 2010, F.P. Journecelebrated the opening of their boutique in Beijing at a prime location located in the Yintaï Centre, being the 6th boutique worldwide following Tokyo, Hong Kong, Geneva, Paris and New York.

To commemorate the memorable milestone of the brand, F.P. Journe created an exclusive limited edition series of 5 Tourbillon Souverain timepieces with deadbeat seconds, remontoir d’égalité, and power reserve indication.

The present lot also features a vibrantly colored red lacquered dial displaying the five stars as seen on the national flag of China, replacing the hour units for the power reserve indication as seen in regular examples of the model. This was the first ever Tourbillon Souverain to feature a red dial.

In 2014, F.P. Journe was chosen as the official horological patron for the diplomatic relations between France and China for over 50 years, further solidifying his status as the best in the industry, not only in the western part of the world but also the up and coming region of Asia, more specifically China.

Based on the research of Phillips’ specialists, only 2 of the 5 examples made, including the one to be offered in the upcoming Hong Kong Watch Auction: XIV, is known in private hands, making the lot distinctly rare.

The present example is furthermore well-preserved and complete with its full set of accessories. Not only a testament to the importance of the Chinese market to F.P. Journe, but also a piece of horological art and the most iconic Journe complicated wristwatch ever made.

• Model name: F.P. Journe,Tourbillon Souverain “China 2010” limited edition in platinum

• Estimate: HK$3,900,000-7,800,000

Auction details

The Hong Kong Watch Auction: XIV
Auction: 27-28 May 2022
Hong Kong Preview: 24-28 May 2022
Location: JW Marriott Hotel Hong Kong

Phillips in Association with Bacs & Russo has announced highlights ahead of The Hong Kong Watch Auction: XIV, which will take place on 27 and 28 May at the JW Marriott in Hong Kong.

The auction follows Phillips Watches’ most successful year in Asia, which achieved an annual total of HK$422 million/ US$ 54 million in 2021 and the first white glove year in the region’s auction history.

Patek Philippe

Leading the sale is a possibly unique Patek Philippe Ref. 3974 in a yellow gold case made by the legendary casemaker Jean-Pierre Hagmann. The Ref. 3974 was launched in 1989 to celebrate the brand’s 150th anniversary.

A self-winding watch featuring a minute repeater, a perpetual calendar, 24-hour indication and phases of the moon, it was the world’s most complicated wristwatch when launched. One of the earliest produced, this truly stellar example features a striking black lacquer dial embellished with the prestigious symbol of excellence, the Calatrava Cross.

Other details that show extensive customization by Patek Philippe include the italicized font used for the calendar indications, and the applied gold Breguet numerals that are always a rare and desirable configuration for complicated Patek Philippe wristwatches matching beautifully with the hue of the case.

Exceptional modern timepieces by Patek Philippe will be offered in the sale. Highlights include a Patek Philippe Nautilus Ref. 5723/112R-001, which features the rare and desirable baguette-cut ruby-set bezel and indexes totalling 4 carats.

Incredibly rare and fresh-to-the-market, this is the first example to appear to be stamped with the prestigious brand Tiffany & Co., complete with its full set of accessories with a Patek Philippe Certificate of Origin stamped by Tiffany & Co. New York, USA.

First launched in 2003, Ref. 5101 features a large yet elegant stepped platinum case reminiscent of Art Deco aesthetics. This reference is fitted with two complications that are very difficult to build within the confines of a rectangular movement and case, due to the lack of space.

The present watch, fitted with a classic salmon dial, featuring masculine touch of blackened Breguet numerals.

At Baselworld in 2010, Patek Philippe announced the Ref. 5950, a cushion-form, single button split-seconds chronograph with the incredible caliber CHR 27-525PS, which was first seen in 2005 in the 5959P, and it was the thinnest column-wheel chronograph caliber ever made when launched.

An “application piece” reserved for the brand’s best clients, the steel Ref. 5950 further impressed collectors with its raised, applied black gold Breguet numerals, black lacquer scroll detailing at the corners and on the buckle, and its lustrous opaline dial.

Vintage Rolex

Vintage Rolexes have seen a significant increase in demand over the years. Phillips is presenting a great selection of vintage Rolex models this season with many fresh-to-the-market gems, to meet collectors’ ever-growing desire for vintage watches.

Offered at auction for the first time, the present Rolex Daytona Ref. 16528 with an “R83” serial from circa 1989 is an extremely rare sight. Featuring a MK1 200-unit bezel evolving from the Ref. 6265, it is fitted with a concept porcelain dial featuring an unusual four lines of texts “OYSTER COSMOGRAPH SUPERLATIVE CHRONOMETER OFFICIALLY CERTIFIED” below the coronet.

Furthermore, another interesting feature is its black “DAYTONA” inscription above the 6 o’clock instead of its usual cherry coloured signature, hence earning its nickname the “Ying Yang” as depicted in Pucci Papaleo’s Ultimate Rolex Daytona book.

With only a handful of examples known in the market to date, the Rolex Ref. 6263 features UAE Quraysh Hawk dial with the signature of the Ministry of Defense written in Arabic script was made specially for Sheikh Mohammed bin Rashid Al Maktoum.

Released in 1965, the Ref. 6241 produced until approximately 1969 for a total of four years, and it is estimated by scholars and established connoisseurs that only 2,300 examples in stainless steel were produced.

The present Ref. 6241 “Paul Newman” with a 1.7 million serial from circa 1968 is of the later batch of the reference featuring an oval-shaped case and a correct Mk I bezel insert. Not only the present model is offered in excellent condition, but it also accompanied by all the accessories making this “Exotic” Ref. 6241 one of the few known in “full set” condition.

The present Submariner with the so-called Explorer dial Ref. 5512 is undoubtedly part of the earliest production recognisable by its exceptional details such as the attractive two-liner gilt dial with chapter ring and pointed crown guards.

Marked with the most desirable and important detail of all is the dot that sits at 6 o’clock which identified by collectors as the “exclamation mark” dial. Such dials were in production only for a very short period between 1961 until 1962 to designate the transition of luminous material with lower radiation count due to health hazards during the era. This extraordinary fresh-to-the-market gem is the earliest known Ref. 5512 with “exclamation mark” Explorer dial.

Metiers d’Art Watches from Patek Philippe

When it comes to the art of enamelling in timepieces, the first to be mentioned would often be Patek Philippe. This season, Phillips is delighted to present an array of watches feature Métiers d’Art techniques, from cloisonné enamelling, hand engraving to marquetry.

Created by acclaimed enameller Anita Porchet, the cloisonné enamelled Peacock Butterfly scene framed within the sinuous lines of the Calatrava case is simply one of a kind. It has been kept in the collection of the original owner for 13 years and never offered in auctions.

The Patek Philippe open face pocket watch Ref. 866/26 in yellow gold features an exquisite miniature enamel painting of “Retour du Verger” or “Return from the Orchard” by Spanish painter Francisco Ribera Gómez from the early 20th century, it was reinterpreted by master enameller Mrs. Hélène May-Mercier at Patek Philippe in 1974, who was an enamel miniature painter at Patek Philippe in Geneva from the 1970s until the 1990s.

Presented as part of the Rare Handcrafts collection as a unique piece, the Peregrine Falcon open-faced pocket watch Ref.982/147 exhibits the spectacular decoration of Marquetry, a technique consists of stacking sheets of veneer into black, followed by a cutting process to produce fine wood pieces that only a handful of marquetry makers can assemble into art pieces.

Unveiled in 2015 as part of the Rare Handcrafts collection, the cloisonné enameled Ref. 5089 produced in low numbers pays a thematic tribute to its great traditions.

Illustrated with the timeless, understated lines of the Calatrava cased in white gold sets an ample canvas for the world’s most beautiful and legendary alps, The Enchanted Mountains series.

The quartet of enamel-dialed Calatravas span across high altitude from the Matterhorn of Switzerland, Mont Blanc of France to the summits of Mount Everest Asia and last but not least, Mount Fuji the symbol of Japan.

A. Lange & Söhne

Taking the tourbillon to new heights, the Pour le Mérite was the first wristwatch to feature the most precious fusée-and-chain transmission. Exceedingly rare and important, the present Ref. 701.001 is numbered 49 of the 150 timepieces made in gold.

A complete work of art, the Tourbillon Pour le Mérite from circa 1995 is one of the earliest batches has aged with an attractive patina from oxidation throughout the whole case.

The Tourbograph Perpetual “Pour le Mérite” is a unique combination of a fusée-and-chain transmission with a tourbillon, chronograph, rattrapante and a perpetual calendar. These five complications were first united in this wristwatch in 2017, limited to 50 timepieces in platinum.

The present example in platinum numbered 37 from circa 2020 is the first example to appear at a Phillips auction.

Further highlights of the sale include watches from independent watchmakers such as Richard Mille, F.P. Journe, Lang & Heyne, Kari Voutilainen and Christophe Claret will be announced in due course.

Auction details

Name of auction: The Hong Kong Watch Auction: XIV
Auction: 27 – 28 May, 2022
Preview: 24- 28 May, 2022
Location: JW Marriott Hong Kong, 88 Queensway, Admiralty
Link: https://www.phillips.com/auctions/auction/HK080122

Phillips has announced the addition of a new Watch auction to the house’s expanding sale calendar.

The New York Watch Auction: SIX will be hosted on 11-12 June, offering collectors over 160 rare and historically important timepieces.

Leading the sale is the very first George Daniels Anniversary Watch ever made, cased in platinum and bearing the unique serial number “00.”

The sale also includes an F.P.Journe Chronomètre Souverain gifted to Dr. George Daniels, CBE, by François-Paul Journe, as well as five wristwatches from the acclaimed collection of American actor James Garner, led by his iconic Heuer Carrera, one of the most important Heuers to come to market in recent times.

The George Daniels Anniversary Watch, Number “00” Leading the auction is the George Daniels Anniversary Watch in platinum, bearing the coveted serial number, “00”. Over the course of Daniels’ lifetime, only 24 unique pocket watches were entirely hand-made by him, in addition to two completely unique, hand‐made wristwatches.

Produced in collaboration with the esteemed British watchmaker, Roger Smith, two serially-produced, limited edition models were developed under his leadership and bear his signature; the George Daniels Millennium launched in 1998 with just over 50 examples made, and the George Daniels Anniversary watch launched in 2010, with just 35 examples produced.

Dr. George Daniels, CBE, is revered as a 20th and 21st century horological master, whose ingenious co-axial escapement had a profound impact on the history of mechanical timekeeping.

Daniels’ concept for the Anniversary model was to commemorate the 35th anniversary of his invention of the co-axial escapement. He approached his sole protégé, Roger Smith, who today is recognized as his successor and the premier British horologist, to collaborate on producing the series together.

A total of 35 George Daniels Anniversary watches, commemorating the 35th anniversary of the co-axial escapement, would be produced over the following years since its launch in 2010, with just four examples produced in platinum, like the present lot.

George Daniels wanted the Anniversary model to also be a celebration of his life’s work, and the platinum “00” is a wonderful representation of the best in handmade, traditional English watchmaking. A portion of the proceeds from the sale will benefit The George Daniels Educational Trust, The Alliance of British Watch and Clock Makers, and the Horological Society of New York.

Phillips will also auction a unique and historically important F. P. Journe platinum Chronomètre Souverain wristwatch gifted to and owned by George Daniels. The timepiece was a gift and tribute from François-Paul Journe to Daniels in recognition of their enduring friendship, and personalized with the movement engraved, “FP to George Daniels my Mentor 2010”.

Included with the watch is a signed letter from Journe, noting in French, “Thanks to your publications as The Art of Breguet or Watchmaking, I have patiently learned on my workbench to make my first watch, you know the rest.”

Journe’s Chronomètre Souverain is amongst his most recognizable references, and was his first timepiece with a central time display.

Released in several variations, the principle objective of these timepieces, as the name implies, is chronometric precision. Contemporary, elegant, and classic, this unique Chronomètre Souverain is the perfect match between the genius of its creator and his predecessors. The beauty of this wristwatch is not only displayed on the dial side, but also when turned over one is amazed by its superbly hand finished movement made from 18K pink gold.

First appearing at auction in 2012 when items from George Daniels’ collection were sold following his passing, the present lot is in nearly unworn condition.

A selection of watches from the personal collection of American actor James Garner has been consigned directly by his daughter, Gigi Garner. The group is headlined by a Heuer Carrera reference 2447, notably seen in The Rockford Files and printed with Garner’s name on the dial. Heuer chronographs have been used for timed events from the Olympics to the Grand Prix of Monaco, and today they are sought by collectors for their iconic designs and technical innovations.

In the mid-1960s, several Carreras were modified upon request by retailers and sponsors affiliated with Heuer to have special emblems and names printed on the dial. Often, these were related to auto racing.

As an Indianapolis 500 pace car driver, auto racing enthusiast, and producer and star of the 1966 movie, Grand Prix, it makes perfect sense that James Garner would be one of those entitled to receive a special Carrera.

Produced in part by Garner’s own Cherokee Productions, the film went on to win three Academy Awards. Garner was one of the few actors skilled enough as a driver to train with a professional racer.

After the production and release of Grand Prix, Garner’s interest in racing continued to grow. His daughter Gigi recounted that her father attended at least 40 Indy 500s, and drove the pace car at the event on three separate occasions – usually with this Heuer Carrera on his wrist. According to Gigi, it was his “favorite everyday watch” and is seen often in pictures from the era and on episodes of The Rockford Files.

This incredible piece of horological, automotive, and cinematic history is followed by a quartet of Cartier watches, most delightfully a manually-wound Cartier Baignoire. The present example, owned and worn by the actor, is a medium-sized model of the Baignoire Paris dating to the 1960s.

Preserved in outstanding original condition, the case bears the eagle’s head hallmark for 18K gold imported to France, and a “Made in France” designation, corroborating the “Paris” dial. It was most notably seen and photographed on Garner’s wrist during the 2000 premiere of Space Cowboys.

A portion of the proceeds from the sale of his watches will benefit The James Garner Animal Rescue Fund.

Sale Information

• Auction: 11-12 June 2022
• Location: 432 Park Avenue, New York
• Link: https://www.phillips.com/auctions/auction/NY080222

Phillips in Association with Bacs & Russo has announced “The Royal Oak 50th”, a thematic sale dedicated to the 50th anniversary of one of horology’s most iconic watches: Audemars Piguet’s Royal Oak. The auction will be held on 6 May, 2022 at the Hôtel La Réserve in Geneva. This sale will offer 88 of the finest, rarest and best-preserved Royal Oak wristwatches known to exist.

Highlights

Audemars Piguet Royal Oak Ref 5402ST A2

During this scale, Phillips will offer the earliest number reference 5402 to ever appear at auction as it bears the number A2, making it the second Royal Oak ever made. This watch was one of the four Royal Oak models presented to the press and public at the opening of the Basel watch fair in 1972. The watch is furthermore complete with its full set of accessories and remains unworn. Estimate: CHF 200,000-400,000

Audemars Piguet Royal Oak Ref 5402ST – Karl Lagerfeld Black PVD coated “A series”

A stand-out creation among the lots is Karl Lagerfeld’s black PVD coated reference 5402. It was bought in Italy in early 1974 when Lagerfeld was living there – it came back to the market in 1995 and remained in the same collection for over two decades. There are period photos showing Lagerfeld wearing a black PVD Ref 5402. Estimate: CHF 100,000-200,000.

Audemars Piguet Royal Oak Ref 25831ST Tourbillon in Stainless steel

Made in 1997, this reference was made in celebration of the Royal Oak’s 25th anniversary and featured for the first time a tourbillon. It was made in only 25 pieces of which the present example bears number 1. Estimate: CHF 120,000-240,000.

Audemars Piguet Royal Oak Ref 25865ST Grande Complication

This impressive Royal Oak in stainless steel is a Grande Complication in the truest of horological sense as it elegantly brings together three extremely difficult complications to master: a minute repeater, a perpetual calendar and a split seconds chronograph. It is a unique piece. Estimate: CHF 250,000-500,000.

Audemars Piguet Royal Oak Ref 25990BC Grande Complication

The second Grande Complication in this sale is also a unique piece. It is not only a technical marvel bringing together a minute repeater, a perpetual calendar and a split seconds chronograph, but its white gold case is lavishly set with diamonds as is its dial that features visually arresting mother of pearl subdials. Estimate: CHF 250,000-500,000.

Audemars Piguet Royal Oak Ref 25636PT Openwork Perpetual Calendar in platinum

This perpetual calendar in full platinum is one of the earliest variants to feature an openwork dial exposing the magical wonders of the perpetual calendar mechanism. Featuring rare midnight blue subdials, the model does not feature a leap year indicator. Only 41 pieces in platinum were made. Estimate CHF 200,000-400,000.

Audemars Piguet Royal Oak Ref 25829TP Openwork Perpetual Calendar in platinum and tantalum

One of only 16 pieces made, this timepiece features a mix of metals rarely seen in watchmaking. The matt sheen of platinum with the bluish/grey hues of the tantalum provides a fully captivating look. Estimate CHF 120,000-240,000.

Audemars Piguet Royal Oak Ref 14802PT Jubilee in platinum

Launched for the Royal Oak’s 20th anniversary in 1992, ref 14802 was available in an ultra-exclusive 20-piece edition in platinum, amongst which a very low number featured the beautiful blue “Tuscan” dial, like the one seen in this example. Estimate CHF 250,000-500,000.

Auction

The Royal Oak 50th: 6 May 2022, 2pm
Location: Hôtel La Réserve, Bellevue, Geneva

Auction Viewing

United States:
New-York 24-28 March
Location: Phillips New York Office, 432 Park Avenue, New York, NY 10022

Asia:
Taipei 31 March – 3 April
Location: Phillips at Art Roastery x Louisa Coffee No. 95, Section 5, Xinyi Road, Xinyi District, Taipei City
Singapore 7-9 April
Location: St. Regis Hotel, 29 Tanglin Rd – Singapore 247911

Europe:
London 21-24 April
Location: Phillips’ HQ, 30 Berkeley Square, London Geneva
Geneva: 4-8 May
Location: Hôtel La Réserve, Bellevue, Geneva

Source: Phillips

Phillips in Association with Bacs & Russo’s 2021 New York Watch Auction realized $35.9 million, selling 100% by lot and 100% by value, marking the most successful Watch auction in US history.

This concludes a 100% sold year for Phillips Watches – a first for any auction house in history. It was also the most successful year ever for the department – bringing the annual total to $209.3 million, marking the first time this sale total has been reached by any auction house, which also marks an 89% increase over 2019.

Leading the auction was the very first Patek Philippe Nautilus ref. 5711 with Tiffany Blue® dial, which realized $6.5 million, making it the highest value watch to sell online at any auction house and the most expensive lot to sell online across all categories at Phillips. 100% of the proceeds will be donated to The Nature Conservancy.

Top Ten Lots

Lot 1T: Patek Philippe, Ref. 5711/1A-018, An historic, highly important, and brand-new stainless steel wristwatch with “Tiffany Blue” lacquer dial, date and bracelet, with certificate of origin and presentation box, with proceeds benefitting The Nature Conservancy, 2021.

• Estimate: in Excess of $50,000
• Price Achieved: $6,503,500/ £4,902,143/€5,746,232

Lot 102: George Daniels, A spectacular and historically important yellow gold twin barrel one minute tourbillon pocket watch with Earnshaw spring detent chronometer escapement and retrograde hour hand, with handwritten George Daniels letter, presentation box, and double-ended key, handmade for Edward Hornby, 1971.

• Estimate: $600,000 – 1,200,000
• Price Achieved: $1,663,500/ £1,253,481/€1,470,168

Lot 41: Rolex Ref. 6241, A highly important, very rare, and exceptional yellow gold chronograph wristwatch with Paul Newman ‘John Player Special’ dial and bracelet, Circa 1969.

• Estimate: $600,000 – 1,200,000
• Price Achieved: $1,240,000/ £934,365/€1,095,887

Lot 95: Richard Mille, Ref. RM022 AM CA, A very rare and highly attractive limited edition skeletonized carbon dual time tourbillon wristwatch with torque, power reserve and function indicators, with Certificate of Authenticity, and presentation box, 2012.

• Estimate: $250,000 – 500,000
• Price Achieved: $1,179,500/ £888,777/€1,042,419

Lot 39: Rolex, Ref. 6241 A spectacular, very well-preserved, and unprecedented 14K yellow gold chronograph wristwatch with champagne Paul Newman exotic dial, Circa 1968.

• Estimate: $250,000 – 500,000
• Price Achieved: $756,000/ £569,661/€668,138

Lot 101: Roger Smith, An exceptional, important, and extremely rare pink gold wristwatch with subsidiary seconds, co-axial escapement, and engine-turned dial, numbered 1, accompanied by original certificate and presentation box, 2018.

• Estimate: $120,000 – 240,000
• Price Achieved: $730,800/£550,672/€645,866 (world auction record for the maker)

Lot 154: F.P. Journe, An extremely rare and beautiful limited edition pink gold tourbillon wristwatch with black mother-of-pearl dial, constant force remontoire, power reserve, dead beat seconds, certificate of authenticity, and presentation box, 2005.

• Estimate: $150,000 – 300,000
• Price Achieved: $718,200/ £541,178/€634,731

Lot 165: Rolex, Ref. 6239; inside caseback stamped 6239, A previously unknown, extremely rare, and highly important stainless steel chronograph wristwatch with blue pulsation dial, tachymeter bezel, and bracelet, Circa 1967.

• Estimate: $350,000 – 700,000
• Price Achieved: $693,000/ £522,189/€612,460

Lot 138: Omega, Ref. 145.012-67 SP, A culturally and historically important stainless steel chronograph wristwatch with tachymeter bezel and bracelet, formerly owned by Ralph W. Ellison, 1968.

• Estimate: $10,000 – 20,000
• Price Achieved: $667,800/ £503,201/€590,188 (world auction record for the reference)

Lot 69: Audemars Piguet, Ref. 25902OR.OO.1110OR.01 A very fine and extremely rare pink gold skeletonized tourbillon wristwatch with power reserve, date indicator, integrated bracelet, certificate, and presentation box, sold to benefit The One Drop Foundation, 2010.

• Estimate: $60,000 – 120,000
• Price Achieved: $630,000/ £474,718/€556,781

Summary

• Lots Offered: 165
• Lots Sold: 165
• Sold by Lot: 100%
• Sold by Value: 100%
• Sale Total: $35,919,052/ £27,065,724/ €31,744,540

 

On 11 December, Phillips is offering at auction, the very first – and only timepiece currently available – of the limited series Patek Philippe Ref. 5711/1A-018 Nautilus wristwatches in stainless steel fitted with Tiffany Blue® dials. Commemorating 170 years of partnership between Patek Philippe and Tiffany & Co., a limited series of 170 watches in total will be produced, each with the dual stamping of both companies, “Tiffany & Co.” at 6 o’clock paired with Patek Philippe at 12 o’clock.

The remaining 169 watches will only be available to the market following Phillips’ sale of this first timepiece. Estimated in excess of $50,000, this Tiffany Blue® Nautilus will open The 2021 New York Watch Auction at 432 Park Avenue. 100% of the sale’s proceeds will benefit The Nature Conservancy, one of the most highly regarded global environmental organizations.

The legibility of the dial with the horizontal relief embossing, a Nautilus signature element, is amplified by baton hour markers as well as luminous baton hour and minute hands, all in blackened white gold. The inimitable design of the case, the bezel, and the integrated steel bracelet is emphasized by the refined sequence of satin-finished and polished links applied by hand in a process that requires 55 production steps to complete for each watch.

The rugged case is water-resistant to 120 meters. It accommodates the self-winding caliber 26-330 S C, a movement that features various technical innovations and optimizations as well as a stop-seconds mechanism that allows the time to be set with one-second accuracy.

In 1851, Patek Philippe and Tiffany & Co. forged an agreement that made the American jeweler the first official retail partner for Patek Philippe timepieces in the U.S. market. The sapphire-crystal case back of the limited series series bears the commemorative inscription “170th Anniversary 1851-2021 Tiffany & Co. – Patek Philippe.” It pays tribute to the 170-year shared vision and the historic ties that link Patek Philippe with the United States.

Today, Tiffany & Co. is the world’s only retailer whose name appears on a Patek Philippe dial, making any Tiffany-signed timepiece extremely sought after. Throughout the 19th, 20th, and 21st centuries, much has changed, but the relationship between Tiffany & Co. and Patek Philippe has only grown. The present lot is a rare and stunning limited series Nautilus exemplifying the strength of their long-lasting partnership, and is certain to delight any watch enthusiast.

The Nautilus reference 5711 is the modern iteration Patek Philippe’s first luxury sports wristwatch, originally launched in 1976. This casually elegant icon premiered in 2006 and will be retired from the collection in 2022.

Following the auction on 11 December, the remaining watches from the series will be available exclusively through Tiffany locations in New York, Beverly Hills, and San Francisco that carry Patek Philippe.

Auction: 11 & 12 December 2021, 10am
Auction viewing: 6 to 10 December
Location: 432 Park Avenue, New York

The Hong Kong Watch Auction: XIII (25-26 November 2021) by Phillips in Association with Bacs & Russo realised over HK$ 231 million/ US$ 30 million, more than 43% of its pre-sale high estimate, achieving the highest ever sale total for a watches sale at Phillips Asia, bringing the annual total to HK$422 million/ US$54 million, the highest ever achieved by Phillips Watch department in the region.

Top Ten Lots

Lot 852: Patek Philippe Ref. 3448/100 “The Blue Royale”. A possibly unique, platinum perpetual calendar wristwatch with moonphases, sapphire-set indexes and sapphire display caseback. Circa 1973

• Estimate: In excess of HK$10 million
• Price achieved: HK$17,795,000 US$2,283,098

Lot 819: Rolex Ref.6241 yellow gold chronograph wristwatch with “Paul Newman John Player Special” dial and French import hallmarks. Circa 1968

• Estimate: HK$4,650,000 – 9,400,000
• Price achieved: HK$13,560,000/ US$1,739,748 (world record for Paul Newman JPS)

Lot 1043: Rolex Ref. 6263 stainless steel chronograph wristwatch with “Paul Newman” dial and “tropical” outer minute track. Circa 1971

• Estimate: HK$4,000,000 – 6,000,000
• Price achieved: HK$8,962,000/ US$1,149,825 (world record for ref 6263 ‘Panda’ Paul Newman)

Lot 814: Patek Philippe Ref. 5723/112R-001 pink gold baguette-cut ruby-set wristwatch. Circa 2015

• Estimate: HK$ 1,550,000 – 3,100,000
• Price achieved: HK$4,914,000/ US$630,466

Lot 968: Patek Philippe Ref. 1518, yellow gold perpetual calendar chronograph wristwatch with moon phases. Circa 1949

• Estimate: HK$2,700,000 – 3,900,000
• Price achieved: HK$4,536,000 /US$581,969

Lot 834: Audemars Piguet Ref. 26585CE.OO.1225CE.01, black ceramic skeletonized perpetual calendar wristwatch. Circa 2021

• Estimate: HK$ 2,300,000 – 4,000,000
• Price achieved: HK$4,410,000/ US$565,803

Lot 805: Patek Philippe Ref 5976/1G-001, white gold and diamond-set chronograph wristwatch made in a limited edition of 1,300 pieces to commemorate the 40th anniversary of Patek Philippe Nautilus. Circa 2017

• Estimate: HK$ 1,350,000 – 3,000,000
• Price achieved: HK$3,780,000/ US$484,974

Lot 815: F.P.Journe, Chronomètre à Resonance, platinum dual-time wristwatch with double escapement. Circa 2002

• Estimate: HK$935,000 – 1,870,000
• Price achieved: HK$3,717,000/ US$476,891

Lot 816: F.P. Journe, Tourbillon Souverain Black Label, a mechanically complex platinum tourbillon wristwatch with constant force remontoire, power reserve, dead beat seconds. Circa 2011

• Estimate: HK$1,000,000 – 2,000,000
• Price achieved: HK$3,528,000/ US$452,642

Lot 845: Rolex Ref.6264, a stainless steel chronograph wristwatch with “Paul Newman” dial and bracelet. Circa 1970

• Estimate: HK$ 1,260,000 – 2,520,000
• Price achieved: HK$3,528,000/ US$452,642

Auction summary

The Hong Kong Watch Auction: XIII, 25-26 November 2021
Total: HK$231,247,320/ US$29,669,031
Lots sold: 304 | Lots offered: 304
Sold by lot: 100% | Sold by value: 100%

[View the full results]

Phillips has released the full catalogue for The 2021 New York Watch Auction. Comprised of 165 lots, the sale will take place over two days, with lots 1-81 being offered on Saturday, 11 December, followed by lots 82-165 on Sunday, 12 December.

The auction will be led by a spectacular George Daniels Tourbillon pocket watch – the fourth timepiece ever produced by Daniels, widely considered to be the most important watchmaker of the 20th century – and an exceptional, fresh-to-market 18 karat gold Rolex ref. 6241 Cosmograph Daytona Paul Newman “John Player Special.”

Lot 102: GEORGE DANIELS, The Edward Hornby George Daniels Tourbillon Pocket Watch

This George Daniels one minute tourbillon pocket watch with Earnshaw’s spring detent chronometer escapement is the fourth timepiece that Daniels ever created. Belonging to the rare, very first series of eight pocket watches fully handmade by Daniels for collectors between the years 1969 and 1974.

These commissions were a turning point in Daniels’ career and as his earliest timepieces, are wonderful representations of the excellence of his workmanship and commitment to achieving the best possible. Measuring an impressive 62mm in diameter, the “Edward Hornby” is both an artistic and technical masterpiece. Its namesake was a lawyer and watch collector who began his collection in the 1930s. Hornby would purchase the present lot directly from Daniels in 1971. Every part of this watch was created by hand, with the exception of the balance spring and crystal, and is masterfully finished. Estimate: $600,000-1,200,000.

Lot 41: ROLEX, ref. 6241 Cosmograph Daytona Paul Newman “John Player Special”

Nicknamed “John Player Special,” this Rolex Daytona watch is an exceedingly rare variant of the “Paul Newman” model. The reference 6241 was manufactured from approximately 1966 to 1969 and was amongst the rarest of all Daytona models ever produced. Research indicates fewer than 300 examples were cased in 18K yellow gold, and with the “John Player Special” “Paul Newman” model, far fewer are known. Estimate: $600,000-1,200,000.

Lot 39: ROLEX, ref. 6241 Cosmograph Daytona Paul Newman “The Krug”

Encased in 14 karat yellow gold, this fresh-to-market gold reference 6241 Daytona is fitted with a stunning champagne-colored “Paul Newman” dial. Consigned directly by the original owner and preserved in superb overall condition, this iconic timepiece from the 1960s is fitted with the original Rolex strap and buckle. Estimate: $250,000-500,000.

Lot 165: ROLEX, ref. 6239 Cosmograph Daytona “Pulsations Cherry Logo”

This previously unknown reference 6239 with blue pulsations dial and red floating “Daytona” logo is only the second example found with this exact dial. Part of an extremely small batch of Daytonas made for doctors, a noteworthy design element is the modified dial layout, as a result of the space occupied by the pulsation scale.

One might think the scale was simply added to an existing production dial from a standard reference 6239 of this period. Instead, the features were intentionally repositioned, demonstrating this dial variant was designed to feature the pulsations scale from its inception. This example is fitted with a black chronograph hand, as opposed to the normal silver, and white sub-dial hands for enhanced legibility. The red “Daytona” logo found on this example resembles most closely the early “Cherry logo” dials seen in this era. Estimate: $350,000-700,000.

Lot 95: RICHARD MILLE, RM022 “Tourbillon Aerodyne” Dual Time

This extremely rare RM022 manually-wound dual time tourbillon is a feat of engineering and technology with a case created from carbon nanotubes injected in to a black polymer. The result is an extremely durable material 200 times stronger than steel, while at the same time being very light. The dial is made from a new alloy, orthorhombic titanium alluminides, which has been formed into a honeycomb structure.

The material was tested by NASA for use on supersonic aircraft wings due to its resistance to high temperatures and torsion. Produced in only five examples, Richard Mille’s RM022 is a sleek aerodynamic timepiece that showcases the brand’s drive to create 21st century wristwatches with a contemporary aesthetic. This limited-edition model has a case measuring slightly larger and with more presence than the standard RM022 model. Estimate: $250,000-500,000.

Lot 99: F.P. JOURNE, Chronomètre à Résonance “Brass Movement”

In the year 2000, F.P. Journe introduced the first-ever wristwatch incorporating two resonating escapements. The present, first-generation model in platinum with a superb white gold dial eloquently embodies Journe’s inimitable style both in terms of aesthetics and technical mastery.

Made from 2000 to 2005, the first generation Resonance models, like the present lot, feature rhodium-plated brass movements and a 38mm case. It is in extremely well-preserved condition showing very few signs of careful wear. The case is sharp, with perfectly crisp hallmarks and engravings on its caseback. Furthermore, it is complete, accompanied with its original guarantee and multi-level wooden presentation box. Estimate: $120,000-240,000.

Lot 100: F.P. JOURNE, T30 30 Years Anniversary Tourbillon

In 1977, François-Paul Journe began the painstaking and difficult task of building his own tourbillon pocket watch, finally completing it at the beginning of 1983. To celebrate thirty years since this remarkable feat, Journe decided to produce ninety-nine examples of a wristwatch wholly inspired by his first tourbillon pocket watch. This T30 Tourbillon in 18 karat pink gold and silver, numbered 97 of 99, is one of the final pieces to be completed.

The layout of the dial is almost exactly the same as the original pocket watch, only shrunk to fit a 40mm case. An unusual metal for use in a wristwatch, the silver here was not plated in any way to protect against the elements, and so each example of the T30 has developed its own unique patina. This example of the Tourbillon Anniversaire Historique is the first ever to be offered by Phillips. It has been consigned by the original owner, the recipient of a touching personal note written by Mr. Journe himself, which accompanies the timepiece at auction. Estimate: $100,000-200,000.

Lot 154: F.P. JOURNE, Tourbillon Souverain Limited Edition “Black Mother-of-Pearl”

Francois-Paul Journe launched his namesake brand with the motto “invenit et fecit” (“invented and made”) in 1999, first introducing the Tourbillon Souverain Remointoir d’Egalite, known as the “T.” In 2003, Francois-Paul Journe pushed the boundaries of his timekeeping masterpiece further, upgrading the “T” to the “TN” model (“Tourbillon Nouveau”), the reference Tourbillon Souverain Remontoire d’Egalité avec Seconde Morte.

“Seconde Morte” is the French term for “dead beat seconds”. This complication requires the utmost precision to reliably stop and restart the seconds hand as the escapement continues to beat—not moving until one second has elapsed, then jumping to the next second.

Enhanced with a deadbeat seconds complication, the timepiece with constant force mechanism was designed for highly accurate, precision timekeeping. The present 40mm Tourbillon Souverain rendered in 18K pink gold features an alluring black mother-of-pearl dial. Produced in an extremely limited edition of just 10 examples for the Singaporean retailer, Sincere Fine Watches, it is offered by its original owner. Estimate: $150,000-300,000

Lot 101: ROGER SMITH, Series 1 “Number 1”

In 2001, Roger Smith established his stand-alone workshop on the Isle of Man and launched the Series 1 featuring a rectangular case. After the production of the rectangular Series 1, he introduced the Series 2, a round wristwatch with a power reserve display. Then, in 2013, Smith created a unique piece for the GREAT Britain campaign. He then unveiled the new Series 1, displaying only the hours, minutes, and seconds via a subsidiary seconds dial. Featuring 38 or 40mm round case, this quintessential gentleman’s watch incorporates all the refinement, experience, and heritage of three hundred years of British watchmaking. These watches are painstakingly hand-built and hand-finished by Roger Smith and his few trusted colleagues.

The present Series 1 measuring 40mm is also, remarkably, number 1 – hence, the very first produced, assembled, and likely delivered of this new generation of Series 1. The 2021 New York Watch Auction marks the first time the watch is being sold, hailing directly from the collection of the original owner. Estimate: $120,000-240,000

Lot 135: A. LANGE & SÖHNE, Pour Le Mérite Tourbillon

In 1845, Ferdinand Adolph Lange established his own workshop in Glashütte, Saxony, which flourished for close to 100 years until the factories were sadly destroyed on the final day of World War II. Decades later, in 1990, Ferdinand’s great-grandson re-established the Glashütte-based brand. The first collection of four watches – the Lange 1, the Arkade, and the Saxonia, the Pour Le Mérite Tourbillon – was launched in 1994, revitalizing German watchmaking and leading to global recognition of the brand.

Of the four, the most complicated and technically aligned with the pre-WWII Lange & Söhne manufacture was the Pour Le Mérite – the world’s first wristwatch to incorporate a fusée chain for improved accuracy. The precision of the movements, quality of finishing, and the Teutonic design principles were well-received by collectors and the present example is one of only 24 known to have been made in pink gold. This especially rare example combines two unusual factory-original elements: a brushed caseband and the replacement of upright Arabic numerals for hour indexes with faceted diamond markers. Estimate: $160,000-320,000.

Lot 138: OMEGA, ref. 145.012 Speedmaster Professional “Ralph W. Ellison”

During this important auction, Phillips is offering the enchanting Speedmaster watch of Ralph Ellison, an icon of American literature. Beginning in the summer of 1968, an Omega Speedmaster reference 145.012-67 – the present lot – could be found on Ellison’s wrist. He would wear it for the remainder of his life until his death in 1994. The watch would eventually be sold at a small auction house in Long Island City in 2016, where it was purchased by the current consignor. Estimate: $10,000-20,000.

The “Ride the Wave” Collection

Phillips is offering “Ride the Wave” – a collection of superb, water-resistant watches consigned by a renowned American surgeon, whose extraordinary collection reflects two of his greatest passions outside of work – watch collecting and surfing. The watches offered here were manufactured as early as the 1940s.

The 18 watches of the “Ride the Wave” collection comprise a diverse range of brands, materials, and styles – and all are of exceptional quality. This collection includes coveted watches such as a Paul Newman Daytona, a tropical dial, early reference 6263 with Mk 1 millerighe pushers and a platinum Patek Philippe ref. 2526 with enamel dial for dressier occasions.

Phillips in Association with Bacs & Russo achieved a total of CHF 68,263,230/ $74,488,836/ €64,563,363 in The Geneva Watch Auction: XIV on 5 and 7 November. Far exceeding the pre-sale estimate of CHF 21.4 to 41.2 million, Phillips achieved the highest ever total for a watch sale in auction history.

The top 12 lots all surpassed the CHF 1 million mark, led by the star lot of the sale, the Philippe Dufour Grande et Petite Sonnerie wristwatch n°1 in yellow gold. After an extraordinary bidding war, the watch eventually sold for CHF 4,75 million, not only a new world record price for any Philippe Dufour watch sold at auction but also for any watch by an independent watchmaker.

The four Philippe Dufour timepieces offered for the first time included the Grande et Petite Sonnerie wristwatch, Grande et Petite Sonnerie pocket watch, the Duality model n°8 and the Simplicity n° 57, which sold together for an impressive CHF 11.4 million.

Another highlight was the 64-year-old Omega Speedmaster wristwatch, nicknamed the “Tropical Broad Arrow”, which smashed the world record for any Omega watch, selling for an impressive CHF 3.15 million (lot 53).

The Geneva Watch Auction: XIV offered 248 watches carefully curated by Phillips’ international watch team. The sale took place over two days and far surpassed its pre-sale high estimate of CHF 41.2 million. The majority of lots flew above their high estimates, including several record-breaking watches.

Collectors from across 83 countries joined the auction, and online participation continues to increase exponentially, with more than 2,300 online registered bidders. This resulted in half of the lots presented in the Geneva Watch Auction: XIV selling to online bidders. Over the two auction days, 400 watch aficionados participated in person in the saleroom.

Two Patek Philippe models reached the top ten, with a mythical first series ref. 2499 (lot 63) in yellow gold retailed by Serpico y Laino, whose unparalleled quality can only be described as spectacular, achieving CHF 3,539,000, and a white gold ref. 2497 (lot 122), one of only three known, selling for CHF 2,813,000.

Offered for the first time at auction, a complete set of five F.P. Journe “Souscription” watches, N°1 in each series, sold for a breathtaking CHF 9.9 million. The watches Individually achieved the following prices: Chronomètre à resonance “Souscription” n°1 (lot 140) sold for CHF 3,902,000; Tourbillon Souverain à remontoir d’égalité “Souscription” n°1 (lot 138) sold for CHF 3,539,000; Octa Réserve de marche (lot 139) sold for CHF 554,400, Octa Chronographe “Souscription” n°1 (lot 141) sold for CHF 961,700; and finally, the Octa Calendrier “Souscription” n°1 (lot 142) sold for CHF 937,500.

Richard Mille’s Titacarb ref. RM27-04, a tourbillon wristwatch with guarantee and presentation box, number 21 of a 50-piece limited edition, surpassed its high estimate and sold for CHF 1,724,000, scoring a world record for this reference.

The possibly unique and wonderfully originally preserved stainless steel Rolex ref. 6062 “K.W.Co” (lot 178) triple calendar wristwatch with moonphases and bracelet, retailed by K.W. Co, sold for an impressive CHF 1,361,000.

The Independents’ Atelier, the now well-known section dedicated to independent watchmaking, saw a Roger Smith series 2 model (lot 117), one of only five made, achieve a world record for the famous British maker. The watch sold for CHF 655,200 and broke the previous world record, which was also set by Phillips, for a Roger Smith watch, tripling its pre-sale high estimate.

Three important Vacheron Constantin wristwatches also fetched world records for the models, respectively reference 4178 chronograph, reference 4737 Cioccolatone, and the iconic model “222”.

Regardless of model, Phillips achieved world records for any Omega, Philippe Dufour, Roger Smith and Christian Klings watch sold at auction. Furthermore, the sale saw world records for models by: A. Lange & Söhne, Audemars Piguet, Cartier, De Bethune, F.P. Journe, Grand Seiko, IWC, MB&F, Ming, Patek Philippe, Richard Mille, Rolex, Ulysse Nardin, Vacheron Constantin, Kari Voutilainen, and Zenith to name just a few.

Top Ten Lots of the Geneva Watch Auction XVI

Lot 14: PHILIPPE DUFOUR, Grande et Petite Sonnerie #1 – A unique and historically important two-train minute repeating grande and petite sonnerie wristwatch with hinged case in yellow gold and enamel dial bearing movement number 1.

• Estimate: CHF 1,000,000 – 2,000,000
• Price Achieved: CHF 4,749,000/ $5,182,109/ €4,491,604 (word record for a Philippe Dufour watch ever at auction and a watch by any independent watchmaker)

Lot 140: F.P. JOURNE, Chronomètre à résonance « Souscription » n°1 – An extremely rare and the first of its kind platinum and pink gold dual time wristwatch with resonating escapements, number 1 of a 20 pieces subscription series.

• Estimate: CHF 200,000 – 400,000
• Price Achieved: CHF 3,902,000/ $4,257,862/ €3,690,511 (world record for the model)

Lot 190: PHILIPPE DUFOUR, Duality N°8 – An exceedingly rare and important pink gold wristwatch with double escapement, certificate and fitted presentation box. One of three made.

• Estimate: CHF 800,000 – 1,600,000
• Price Achieved: CHF 3,660,000/ $3,993,792/ €3,461,628 (world record for the model)

Lot 63: PATEK PHILIPPE Ref. 2499 first series – An extremely important, fresh-to-the-market yellow gold perpetual calendar chronograph wristwatch with retailer-signed bracelet, retailed by Serpico y Laino.

• Estimate: CHF 2,000,000 – 4,000,000
• Price Achieved: CHF 3,539,000/ $3,861,757/ €3,347,186

Lot 138: F.P. JOURNE, Tourbillon Souverain à remontoir d’égalité « Souscription » n°1 – A historically important and extremely rare platinum tourbillon wristwatch with remontoir d’égalité, number 1 of a 20 pieces subscription series.

• Estimate: CHF 300,000 – 600,000
• Price Achieved: CHF 3,539,000/ $3,861,757/ €3,347,186 (world record for the model)

Lot 53: OMEGA, Ref. 2915-1 “Tropical Broad Arrow” – An early and important stainless steel chronograph wristwatch with Broad Arrow hands and chocolate brown “tropical” dial.

• Estimate: CHF 80,000 – 120,000
• Price Achieved: CHF 3,115,500/ $3,399,633/ €2,946,640 (world record for any Omega ever sold at auction)

Lot 122: PATEK PHILIPPE, Ref. 2497 “The Exceptional White” – An exceedingly rare and historically important white gold perpetual calendar wristwatch with center seconds, moonphases and original bracelet.

• Estimate: CHF 1,500,000 – 3,000,000
• Price Achieved: CHF 2,813,000/ $3,069,545/ €2,660,535 (world record for the model in white gold)

Lot 145: PHILIPPE DUFOUR, Grande et Petite Sonnerie #1 – A unique and historically important minute repeating, grande and petite sonnerie pocket watch in yellow gold.

• Estimate: CHF 400,000 – 800,000
• Price Achieved: CHF 2,329,000/ $2,541,405/ €2,202,768 (world record for the model)

Lot 12: RICHARD MILLE, Ref. RM27-04 – TitaCarb tourbillon wristwatch with guarantee and presentation box, number 21 of a 50-piece limited edition.

• Estimate: CHF 800,000 – 1,600,000
• Price Achieved: CHF 1,724,000/ $1,881,229/ €1,630,559 (world record for the model)

Lot 247: PATEK PHILIPPE Ref. 2499 second series – An extremely rare and well-preserved yellow gold perpetual calendar chronograph wristwatch with moonphases and associated bracelet.

• Estimate: CHF 800,000 – 1,600,000
• Price Achieved: CHF 1,482,000/ $1,617,158/ €1,401,675

Total Sales Summary

• Lots sold: 248
• Lots offered: 248
• Sold by lot: 100%
• Sold by value: 100%
• Total: CHF 68,263,230/ $74,488,836/ €64,563,363

Phillips in Association with Bacs & Russo has announced the key attractions of their upcoming Geneva Watch Auction: XIV, which is to be held on 5 and 7 November, 2021 at Hôtel La Réserve in Geneva. This spectacular Fall Sale will offer an incredible selection of watches spanning the 20th and 21st centuries.

These horological masterpieces come from world renowned luxury brands like A. Lange & Söhne, Audemars Piguet, Cartier, Christian Klings, De Bethune, F.P. Journe, Gerald Genta, Harry Winston, Kari Voutilainen, Laurent Ferrier, Longines, MB&F, Omega, Patek Philippe, Philippe Dufour, Richard Mille, Roger Smith, Rolex, Urban Jürgensen, Urwerk, Vacheron Constantin and Zenith.

The most significant among them are: four extraordinary Philippe Dufour timepieces from a private collector, the Rolex “Deep Sea Special”, five F.P. Journe’s “Souscription” wristwatches numbered #1 each and a previously unknown yellow gold Patek Philippe wristwatch reference 2499 first series, retailed by Serpico y Laino.

Highlights

Patek Philippe

During the Geneva Watch Auction XIV, Phillips is offering two fresh to the market and previously unknown reference 2499 perpetual calendar chronographs. The well preserved first series example in yellow gold retailed by Serpico y Laino replete with its original, heavy and beautiful bracelet also stamped by the retailer (estimate CHF 2,000,000-4,000,000).

Recently discovered, this first series reference 2499 is one of two known reference 2499s retailed by Serpico y Laino, both with consecutive movement numbers. This also includes a second series coming from the family of the original owner, featuring a superb dial and strong case. Estimate: CHF 800,000-1,600,000.

Another impressive timepiece from Patek Philippe is the reference 2497 perpetual calendar in white gold, with a captivating and original white gold bracelet with “Florentine” finish, one of three known ref 2497s cased in this precious metal. Estimate: CHF 1,500,000-3,000,000.

Rolex

The sale will include a historically important Rolex “Deep Sea Special” in stainless steel and gold deep diving wristwatch with centre seconds. The model was made in 1965 and has never before been publicly available for purchase. Estimate: CHF 1,200,000-2,400,000.

Created for experimental purposes, the Deep Sea Special watches were never available for public purchase. The present watch, the “Deep Sea Special”, represents a key moment in Rolex’s history. In the 1950s, Rolex contacted Professor Piccard, renowned Swiss oceanographer and engineer, to test watches during his diving experiments. For this purpose, Rolex engineers developed a deep diving watch fitted with a special case and a domed crystal to hold up against extreme pressure.

In 1953, Rolex tested the first prototype by strapping it on to the outside of the Bathyscaphe Trieste Submersible. The watch was first tested at 1,080 meters. It was again tested for 3,150 meters in the same year. Having completed initial tests, Rolex created a second prototype in 1960. This new “Deep Sea Special” was created to withstand the most extreme conditions, having submerged to over 10,000 meters below sea level, having completed its test in the Marina Trench, the deepest known point on Earth, with Jacques Piccard and Don Walsh.

Following the successful deep dive in 1960, Rolex produced in the subsequent years a commemorative series such as the present watch, numbered 35, in celebration of this incredible achievement and offered to only the most distinguished science, technology and watch museums, along with the most trusted, longstanding retailers and high profile partners and executives who contributed to the development of the model. Most notably, the “Deep Sea Special” numbered 3, which was strapped to the Bathyscaphe, is currently on display at the Smithsonian Institute in Washington D.C. Other museums include the Beyer Museum, London Science Museum and Piccard Museum Nyon (Switzerland), to name a few.

The next significant Rolex model in the Geneva auction is a most probably, unique and incredibly well preserved, reference 6062 in steel.

The ref 6062 was introduced in the early 1950s and features day, date, month and moonphase indications. Beneath the day and month apertures, the dial of this extremely rare timepiece features the K.W. Co signature, representing the “Knickerbocker Watch Company”, an American importer of Swiss watches and wristwatches. Estimate: CHF 600,000-1,200,000.

The Geneva auction is also offering a spectacular and important yellow gold and multi gem-set Day-Date model from 1987, known as the “Rainbow”. The only one known of its kind, it is one of the very first “Rainbow” models the manufacturer ever made, probably even before Rolex had officially coined the model. Estimate: CHF 150,000-300,000.

Vacheron Constantin

Phillips is offering a Vacheron Constantin reference 4737 “Cioccolatone” that was previously unknown. Made in platinum, it is the only example known in this metal and whose unique status is confirmed by the Vacheron Constantin Extract from the Archives. Estimate CHF 200,000-400,000.

Another Vacheron Constantin highlight is the brand’s iconic reference 4178. In spectacular condition and stainless steel, the watch features alluring facetted lugs and an incredible two tone salmon dial with rare pulsometer scale. Estimate CHF 100,000-200,000.

Audemars Piguet

The auction will also offer several Audemars Piguet’s Royal Oak watches including one of the original Ref 5402 Series A from 1972 (estimate CHF 60,000-120,000) as well as an ultra-rare reference 5402 Royal Oak in yellow gold, with Tiffany & Co. signature, one of only two known examples (estimate CHF 100,000-200,000).

Other examples include a series of perpetual calendar skeleton models in the Royal Oak collection, in yellow gold, stainless steel and platinum, and a full platinum reference 25829, complete with its box and paperwork (estimate CHF 150,000-300,000).

Richard Mille

Richard Mille’s selection includes an incredible RM 27-04 limited to 50 pieces and made to commemorate the 10th anniversary of the partnership between Mille and tennis legend Rafael Nadal. The watch’s bridges are made to resemble tennis chords, the case is made of TitaCarb and the whole watch, including the strap, weighs a mere 34 grams. Estimate CHF 800,000-1,600,000.

Another incredible piece is the elusive RM11-03 flyback chronograph made of titanium and ATZ. This watch was never publicly offered or communicated by Richard Mille but reserved for the brand’s most valuable customers. Estimate CHF 250,000-450,000.

F.P. Journe and Harry Winston

Phillips is presenting the Harry Winston Opus One Chronomètre a Resonance in platinum (estimate CHF 300,000-500,000), made in collaboration with F.P. Journe. It is the first of a long lineage of Opus projects but one of the most sought-after examples. The present Opus 1 was made in 6 unique examples with different dial colors and/or diamond set bezels. This example features a purple dial and copper numerals.

Roger Smith Series 2

The Series 2 was Roger Smith’s first round watch of perfect proportions featuring his first fully in-house developed and made caliber using the Daniels co-axial escapement. The present Series 2, is one of five made in pink gold featuring a hand crafted floral motif and one of only two with hand engraved barrel bridge and balance cock. Estimate CHF 120,000-240,000.

Derek Pratt for Urban Jürgensen Pocket watch Tourbillon

A contemporary of George Daniels, Derek Pratt is one of the greatest watchmakers of the past 50 years. He had served as the technical director of Urban Jürgensen & Sönner brand from 1982 to 2005. During his tenure there he made around a dozen pocket watch tourbillon with or without remontoire. The present example, with lever escapement, is fully handmade by Pratt himself not only the movement which is incredibly finished but also the case and dial. Estimate: CHF 100,000-200,000.

MB&F Legacy Machine 1 “Longhorn”

Presented in 2011 and discontinued in 2017, the MB&F Legacy Machine One features a domed crystal, extra-large 14mm balance suspended over the dial and held by an arch shaped bridge and superlative movement finish done in conjunction with master watchmaker Kari Voutilainen.

In celebration of the Legacy Machine 1’s 10th anniversary, Phillips has been entrusted by MB&F to auction its stainless steel prototype. It features elongated lugs which coined the nickname “Longhorn” that never made it into production stage and unique black dials not found in other LM1s. The proceeds of the sale of this watch will go to charity. Estimate CHF 80,000-150,000, to be offered without reserve.

Kari Voutilainen 28SC-SB Great Shining Sun

In celebration of the 20th anniversary of his going independent, Kari Voutilainen presented in 2021 his latest creation the 28SC made in a limited edition series of 12 pieces. At the time of the launch, the watch was the very first Vingt-8 movement to have a center seconds function. Upon announcement of the 28SC, all models were immediately sold out, making the present watch the only known example to be available for public purchase.

The case of this timepiece is made of solar-forged steel that is 100% recycled and recyclable, reducing its carbon footprint. The present unique piece Great Shining Sun differs from the limited edition models as the dial features a yellow gold center and a blue hand guilloché periphery (as opposed to green), but the main difference is the case featuring straight lugs as opposed to the facetted lugs found on the limited edition model. Estimate: CHF 50,000-100,000.

Following the recent announcement of a unique Patek Philippe reference 3448 cased in platinum with sapphire-set indexes, Phillips in Association with Bacs & Russo presents additional highlights from The Hong Kong Watch Auction: XIII, taking place on 27 and 28 November, 2021.

The two-day auction series will feature over 300 lots including important timepieces that are exceptional in terms of provenance, aesthetics, condition, and rarity, hailing from power houses including Patek Philippe, Rolex, Audemars Piguet, as well as from master independent watchmakers such as F.P. Journe, Harry Winston, and Gérald Genta.

Patek Philippe

In addition to the unique Patek Philippe reference 3448 ‘The Blue Royale’, this season Phillips will offer another stunning piece from Patek Philippe – the reference 1518 perpetual calendar chronograph wristwatch cased in yellow gold from 1949.

The reference 1518 was the first perpetual calendar chronograph wristwatch ever produced in series when it was introduced in 1941. According to research, only 281 examples were manufactured in yellow and pink gold until the reference ceased production in 1954.

Rolex

Highlighting the sale is a Rolex Daytona reference 6241 yellow gold chronograph wristwatch with “Paul Newman John Player Special” dial (nicknamed JPS ref. 6241) that has never previously been offered at auction. Reference 6241 was introduced in 1965 with a production spanning just for four years until 1969, and it is among the rarest Daytona models ever produced.

Research indicates that less than 300 examples were cased in 18K yellow gold. One of the most desired and visually striking iterations of the Daytona is indeed the present “John Player Special Paul Newman” and it is an exceedingly rare variant of the “Paul Newman” model. In addition, what makes this specimen the ultimate trophy is not only its exceptional preservation, but also the two French gold import hallmarks indicated with the owl symbol and the Geneva Helvetia hallmark stamped crisply on the caseback and lugs.

Besides the JPS reference 6241, an interesting vintage Rolex model in this auction is a Paul Newman Cosmograph Daytona reference 6263 with a panda MK 2 dial displaying “tropical” outer minute track and accompanied by the original warranty.

The next highlight is the Rolex reference 16589 SACI fitted with a stunning full paved diamond dial and adorned with 24 baguette-cut sapphires set uniformly on the sectioned bezel. 8 individual sapphire-set hour markers contrast with a modern touch of Arabic numerals.

Another timepiece of note is a Rolex “Oyster-Split” reference 6265 from 1975 that is preserved in stunning condition.

Audemars Piguet

The auction will include three remarkable Audemars Piguet Royal Oak watches including a reference 15202 cased in white gold and features pavé diamond-set, a perpetual calendar in a black ceramic 41mm diameter case with an open worked dial, as well as a limited-edition Royal Oak perpetual calendar features a highly desirable green Grande Tapisserie dial and a sharp yellow accent week indicator. The present watch is one of 50 examples made for the Hong Kong retailer, Unique Timepieces.

F.P. Journe

Launched in 1999, the F.P. Journe Chronomètre à Resonance features a spectacular mechanical movement composed of two independent balances alternatively serving as an “exciter” and “resonator”. When in motion, the balances create the resonance effect and beat in opposition, naturally evening out each other’s discrepancies and thus permitting greater accuracy.

The present example in platinum is of the rare and desirable first generation example from 2001, which is highly sought after by watch collectors due to its technical prowess combined with the historical relevance to the heritage of F.P. Journe.

Introduced in 2017, the F.P. Journe Vagabondage III was the final version of the Vagabondage series, released as a limited edition of 68 pieces in pink gold.

Discontinued in 2019, the present example in pink gold is numbered 17 and is offered in excellent overall condition and furthermore accompanied by the full set of accessories.

Harry Winston

The Harry Winston Opus series was inaugurated with the Opus One by François-Paul Journe in 2001. Antoine Preziuso’s beautiful Opus Two followed the year after. The Harry Winston Opus Two was created in 23 limited pieces in total with 11 of The Tourbillon with Perpetual Calendar such as the present example here.

Launched in 2003 in collaboration with Vianney Halter, the Harry Winston Opus 3 is one of the most complicated time and date only watches ever produced. The present example in 18K pink gold is numbered 17 of a limited edition of 25 examples in pink gold.

Gérald Genta

Having designed some of the world’s most iconic models for the most established Swiss watch firms, Gérald Genta set out to create his own brand name in 1969.

Encased in an elegant 34mm round-shaped platinum case a with baguette diamond-set bezel, the present Gérald Genta reference G40114 displays the firm’s cal. 210 through its sapphire crystal caseback and skeletonized dial.

This Gérald Genta watch features a perpetual calendar function with a minute repeater. Its self-winding movement is fully hand assembled and engraved allowing the wearer to admire the timepiece in all angles. The present example is numbered 1 on the caseband and it is mostly likely a unique piece that was specifically tailored-made for an esteemed collector of the brand.

The Hong Kong Watch Auction XIII

• Evening Session: 27 November 6pm HKT | Day Session: 28 November 12pm HKT

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

Phillips in Association with Bacs & Russo has announced that four major Philippe Dufour timepieces will be offered in The Geneva Watch Auction: XIV.

These masterpieces are coming from a private collector. The group includes the Grande & Petite Sonnerie pocket watch Number 1 in yellow gold, the Grande & Petite Sonnerie wristwatch number 1 in yellow gold, the Duality in pink gold and the Simplicity (37mm) in platinum. It is also first time in auction history that these four Dufour watches will be offered by one auction house during a single season.

An independent Swiss watchmaker since the late 1970s, Philippe Dufour restored antique and vintage timepieces, which led him ten years later to develop a very small series of pocket and wrist grande sonnerie watches.

Inspired by the pocket watches in the 1930s, the Duality is the world’s first wristwatch incorporating a double escapement. The Simplicity features a special movement architecture designed to demonstrate hand finish and decoration that modern horology had not yet witnessed. In the span of over 30 years since he created his eponymous brand, Dufour created only these four models under his name.

Philippe Dufour Grande & Petite Sonnerie Pocket Watch Number 1, Unique Piece

A Grande Sonnerie is a timepiece that automatically chimes the hours on every hour and hours and quarters on every quarter, and when on petite sonnerie mode the watch will only chime the passing of the quarters. Phillipe Dufour began his work on the grande sonnerie with a series of five pocket watches made for a large brand in the early 1980s.

The fact that the brand never acknowledged his work led him to create his own Grand & Petite Sonnerie pocket watch in the late 1980s. The present example is number 1 and the only Dufour Grande & Petite pocket watch made that bears his name on the dial.

Estimate: CHF 400,000-800,000/ US$436,000-872,152 / HK$3,384.000- 6,768,000

Philippe Dufour Grande & Petite Sonnerie Wristwatch Number 1 in Yellow Gold

From 1989 to 1992, Dufour set out on the difficult task of miniaturizing his sonnerie movement to wristwatch size and the result was the present Grande & Petite Sonnerie wristwatch number 1, a world premiere that makes the present example offered at auction the world’s very first Grande & Petite Sonnerie wristwatch.

This version was produced in only five examples with white enamel dials, respectively 2 cased in white gold, one in yellow and one in pink gold, as well as one in platinum.

Estimate: CHF 1million-2 million / US$1,090,000 -2,180,000 / HK$ 8,461,000-16,922,664

Philippe Dufour Duality Pink Gold, Number 8

Dufour’s inspiration for the Duality came from a few school watches from the Vallée de Joux Watchmaking School of the 1930s – the same school that Dufour graduated from. These pocket watches had a single gear train delivering power to two balance wheels through a differential. Once again, like with his sonnerie wristwatch, Dufour set out on the task of shrinking this mechanism to wristwatch size.

In 1996, Dufour introduced his iconic Duality, the world’s first wristwatch incorporating a double escapement. Featuring two independent balance wheels compensated with a central differential gear, the mechanism improves accuracy while also countering the effects of gravity.

He initially planned to produce 25 examples, however, only nine were made including an example with movement number ‘00’ (sold at Phillips New York in 2017 for close to $1 million), making the present example bearing number 8 the last one made. It is one of three pink gold examples ever produced.

Estimate: CHF 800,000-1.6 million/ US$872,152-1,744,520 / HK$6,768,000 – 13,540,596

Philippe Dufour Simplicity 37mm Platinum, Number: 57

After having proven his undeniable talent and expertise in creating ultra-complicated mechanisms, Dufour set out in 2000 on the challenging task to create a simple three hand watch with a movement architecture designed to demonstrate hand finish and decoration that modern horology had not yet witnessed.

The gentle flow of the bridges’ curves, the bold and alluring inward and outward angles, the hand-applied Geneva waves and red rubies all provide a seductive visual harmony.

The decoration and assembly are done by hand and only less than a dozen Simplicities left Dufour’s workshops in the Vallée de Joux per year. The present watch bearing movement number 57 is one of the earlier models that the master produced.

Estimate: CHF 250,000-500,000 / US$272,581 – 545,176 / HK$2,115,743 – 4,231,326

Phillips in Association with Bacs & Russo achieved its highest ever total for a watch auction in Asia with the Hong Kong Watch Auction: XII (5 & 6 June 2021), its first non-thematic ‘white glove sale’, realising HK$191,239,320 / US$24,650,748. More than doubling the pre-sale low estimate of HK$91 million, this stands as the most successful watch auction weekend in Asia, with sell-through rates of 100% by lot and 100% by value.

With this unprecedented result, Phillips ends the first half of the year realising over US$ 68 million, selling every single watch offered across its three sales: the INTERSECT online sale, the Geneva spring sale, and the Hong Kong spring sale. Phillips’ watch collecting community continues to grow, with a record number of 1,705 online participants from 55 countries, marking nearly a 30% increase on the previous season and the most participants in any auction staged by Phillips in Asia.

The Hong Kong Watch Auction: XII – Top Ten Lots

Lot 822: Patek Philippe Ref. 2499 yellow gold perpetual calendar chronograph wristwatch with Italian calendar. Circa 1953. Estimate: HK$12,000,000 – 23,000,000/ Price Achieved: HK$15,375,000 (US$1,981,838).

Lot 852: Patek Philippe Ref. 3974R pink gold minute repeating English perpetual calendar wristwatch. Circa 1992. Estimate: HK$3,875,000 – 7,750,000/ Price Achieved: HK$9,325,000 (US$1,201,993) – World record for the reference in pink gold.

Lot 988: 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/ Price Achieved: HK$6,542,000 (US$843,264) – World record for the reference in pink gold.

Lot 1029: Patek Philippe Ref. 2499 third series yellow gold perpetual calendar chronograph wristwatch with moon phases. Circa 1977. Estimate: HK$3,100,000 – 4,600,000/ Price Achieved: HK$5,544,000 (US$714,622).

Lot 834: A. Lange & Söhne Ref. 421.048FE, LSLS4213AN, a limited edition white gold split-seconds perpetual calendar chronograph wristwatch. Circa 2018. Estimate: HK$1,170,000 – 2,340,000/ Price Achieved: HK$4,662,000 (US$600,932) – World record for the reference.

Lot 808: Harry Winston Ref. 200/MTFPJ38P, a unique platinum tourbillon wristwatch with Remontoire d’Égalité, power reserve indication. Circa 2002. Estimate: HK$800,000 – 1,600,000/ Price Achieved: HK$3,654,000 (US$471,001).

Lot 837: Audemars Piguet Ref. 25554BA yellow gold perpetual calendar wristwatch with black dial. Circa 1986. Estimate: HK$780,000 – 1,560,000/ Price Achieved: HK$3,276,000 (US$422,276) – World record for a perpetual calendar Royal Oak.

Lot 848: F.P. Journe platinum tourbillon wristwatch with constant force remontoire, power reserve and dead beat seconds. Circa 2007. Estimate: HK$1,000,000 – 2,000,000/ Price Achieved HK$3,276,000 (US$422,276).

Lot 818: 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/ Price Achieved: HK$3,024,000 (US$389,794).

Lot 1047: F.P. Journe Tourbillon Souverain complex pink gold tourbillon wristwatch with constant force remontoire, power reserve and dead beat seconds. Circa 2013. Estimate: HK$1,400,000 – 1,720,000/ Price Achieved: HK$3,024,000 US$389,794.

• Lots sold: 311
• Lots offered: 311
• Sold by lot: 100%
• Sold by value: 100%
• Total: HK$191,239,320/ US$24,650,748

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.

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.

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.

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.

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.

Rolex

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

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.

Panerai

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.

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.

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.

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.

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.

Schedule

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

Phillips in Association with Bacs & Russo has announced the highlights of its Geneva Watch Auction: XIII, which is to be held on 8 to 9 May, 2021.

The selection is led by important watches from Patek Philippe, Rolex, Audemars Piguet, Richard Mille, F.P. Journe and Roger Smith. The list also includes exceptional mechanical timepieces from venerable brands like A. Lange & Söhne, Cartier, Vacheron Constantin, Breguet, Zenith, Longines, IWC, Urwerk, De Bethune and MB&F.

Highlights

Patek Philippe Reference 2499 Full Set

Patek Phillipe’s iconic reference 2499 perpetual calendar chronograph set the blue print for perpetual calendar chronograph wristwatches some 40 or so years before this complication was made on a regular basis by other brands, making this reference one of, if not, the most influential and relevant horological references of the second half of the 20th century.

It is always an event when a Patek Philippe reference 2499 appears on the market, especially the earlier 1st and 2nd series models, but to see all four series appear in one auction is extraordinary.

The 1st series was purchased in 2008 and is one of only 23 examples in yellow gold with Wenger case known so far. The 2nd series is one of the ultra-rare examples in pink gold, of which only nine examples are known. The watch was purchased in the early 1960s in the north of Germany and remained in the same family until 2010 when it was offered at auction for the first time. The current owner purchased it directly from the buyer at that auction, so this is a “Three owners since new” watch. It is highly unusual but perfectly appropriate that the watch comes with a German calendar.

The 3rd series last appeared on the market in 2004 and is one of the earliest examples known. It stands out with its full hard enamel dial, a feature that was fading out in the late 1960s and that collectors immensely appreciate today.

The 4th series is from 1985, the last year of production for this reference, and features a rather unusual German calendar. It is only one of six examples known of this series with German calendar.

These four masterpieces share a number of things in common – not only their rarity and impeccable condition – but subtle details that set them apart from their peers, such as Italian or German calendar discs or rare German hallmarks on the caseback of the 2nd series.

The four series of the reference 2499 can generally be divided as follows:

– 1st series: Square chronograph buttons, applied Arabic numerals and tachometer scale
– 2nd series: Round chronograph buttons, either applied baton or applied Arabic numerals and tachometer scale
– 3rd series: Round chronograph buttons, applied baton numerals and outer seconds divisions
– 4th series: Round chronograph buttons, applied baton numerals, outer seconds divisions and sapphire crystal.

Patek Philippe Yellow Gold Reference 2523, Featuring Cloisonné Enamel Dial with Eurasian map

Phillips in Association with Bacs & Russo is offering the earliest made and previously unknown Patek Philippe yellow gold reference 2523 with cloisonné enamel dial, representing the Eurasian landmass. Estimated in excess of CHF 3.5 million, the watch is a leading highlight of The Geneva Watch Auction: XIII.

Recently discovered in an important European collection, this timepiece is a time capsule, depicting an immaculate polychrome cloisonné enamel dial, rendered in fantastical hues of marine blue, gold, green and turquoise.

Of the eleven reference 2523 known with cloisonné enamel dials, five feature North America, three feature South America and three Eurasia. Of the three examples featuring the European and Asian continents, one is in the Patek Philippe museum, the other in a prominent private collection and the present, newly discovered example, fresh to the auction market.

Reference 2523 was first launched in 1953 and features a 36mm case, with two crowns and a city ring, which is an integral part of the dial rather than being engraved on the bezel. Two versions were available, with reference 2523 with larger lugs sitting above the bezel and reference 2523/1 with a slightly larger diameter and thinner lugs that do not sit above the bezel.

It has been close to two decades since the last reference 2523 with Eurasian map has appeared on the market.

Patek Philippe Stainless Steel Split Seconds Perpetual Calendar Chronograph, Reference 5004

Next in the list is an incredibly rare and important stainless steel split seconds perpetual calendar wristwatch, reference 5004, offered without reserve (CHF 200,000 – 400,000).

One of the most important variants of the reference, it is said that only 50 examples were ever made in stainless steel upon discontinuation of the reference, with only six of them ever having graced the auction market. So rare is this version that the model never officially made it into any Patek Philippe catalogue and was reserved only for the brand’s very top clients and available upon application.

Patek Philippe Perpetual Calendar, Reference 3448

Further impressive timepieces include a series of automatic perpetual calendar wristwatches, such as a reference 3448 in white gold with light grey dial and original bracelet (CHF 200,000 – 400,000).

Patek Philippe Split Seconds Chronograph, Reference 5950

In terms of modern watches, the sale presents an incredibly rare and attractive split seconds chronograph wristwatch, reference 5950, in pink gold with pink dial and limited to 15 pieces, marking the first time this configuration is available on the auction market (CHF 200,000 – 400,000).