After the record breaking sale of a Patek Philippe ‘Sky Moon Tourbillon’ at HK$ 45.5 million in March – the most valuable timepiece sold online globally – Christie's Hong Kong engaged the watch world again with two live record-breaking auctions; outstanding results at Christie’s HK with $57million (highest ever for the category)
From the “Important Watches” collection: Patek Philippe with cloisonné enamel dial depicting a map of North America, Ref. 2523J. (estimate: HK$55,000,000-120,000,000). A historically significant Patek Philippe 18k gold Dual Crown World Time wristwatch with 24-hour indication was masterfully crafted in 1955. (Est: HK$55,000,000-120,000,000) The record-breaking single lot from The Masterpiece Auction II From The Triazza Collection: Lot 2361 Manufactured in 1955 Price realised: HK$66,625,000/US$8,546,282 WORLD AUCTION RECORD FOR THE REFERENCE
TOP LOT OF THE SALE SERIES
Alexandre Bigler, Vice-President, Head of Watches Asia Pacific, shared, "Christie's Hong Kong is capitalizing on the market vibrancy in Asia and the resounding successes of our record-breaking sales last Autumn, including the spectacular sales of The Champion Collection and the fresh record set by the Patek Philippe ‘Sky Moon Tourbillon’ sold at our online auction in March..."
With a combined low estimate exceeding HK$ 270 million, the highest low estimate to date for the category at Christie's in Asia, a testament to the selection on offer this May at Hong Kong Convention and Exhibition Centre on 26 May 2023, the Live Auction The Ultimate Collection from a Single Owner ft.107 lots (low estimate HK$ 90 million). Another Live Auction titled Important Watches (Various Owners ft. 165 lots, low estimate HK$ 188 million).
Auctioneer Emmanuelle Chan selling the top lot:
The Patek Philippe Ref. 2523J ‘Dual Crown World Time’ for HK$66,625,000 / US$8,546,282
This spring season, Christie’s Watches made history with three live auctions, “Important Watches — Featuring The Triazza Collection Part II” and “The Ultimate Collection” on 26 May, followed by “The Masterpiece Auction II From The Triazza Collection” on 28 May, driving the first half sale total for 2023 to HK$443,780,550 / US$56,925,684, the highest ever for the category at Christie’s Asia. An exceptional and historically important Patek Philippe Ref. 2523J ‘Dual Crown World Time’ broke the record for the reference when it reached HK$66,625,000 / US$8,546,282 in a standalone evening auction. Strong participation from 31 countries across 4 continents across the auctions confirms Hong Kong’s status as a powerful global collecting hub for watches. The category remains a gateway to Christie’s for younger collectors, with millennials comprising almost 40% of all the new buyers.
Various Owners Live Auction: Important Watches
A magnificent and highly complicated Patek Philippe 18k pink gold double-dial wristwatch featuring twelve complications, including a "cathedral" minute repeater, tourbillon, perpetual calendar with retrograde date, moon age and angular motion, sidereal time, and sky chart. Unique in this configuration, this Sky Moon Tourbillon model, Ref. 5002R-014, showcases a black dial and diamond indexes, and dates back to circa 2012. (Est: HK$24,000,000-48,000,000). , Circa 2012
Price realised: HK$31,835,000 / US$4,083,953
TOP LOT OF THE SALE
This Patek Philippe Ref. 3670A-001 chronograph in stainless steel is part of an exclusive limited edition of just 16 watches. Made circa 2012, it features one of the 16 vintage chronograph movements – the legendary Calibre 13-130 from 1955 – which were discovered perfectly preserved in a chest at Patek Philippe's historic headquarters in Geneva. To celebrate this fortuitous find, the calibres were disassembled, reassembled, and rehoused in a cushion case – in steel for this edition – reminiscent of the original 1950s chronograph. (Est: HK$7,200,000-12,000,000)
The F.P. Journe China 2010 Tourbillon Souverain Limited Edition is significant not only for its stunning combination of a platinum case with a red lacquered dial but also for its extreme rarity: a mere 5 pieces of this exceptional timepiece were crafted by the independent legend. In addition to the show-stopping tourbillon, the "China 2010" features a remontoir d'égalité, a constant force mechanism ensuring extreme precision, and deadbeat seconds. Circa 2010. (Est: HK$6,500,000-12,000,000) , Circa 2010
Price realised: HK$9,450,000 / US$1,212,293
The Important Watches sale features an array of extremely limited "special dial" Patek Philippe references, including highly sought-after blue-chip models such as Ref. 3970S and Ref. 5970. Most notably, this auction presents the most valuable timepiece ever to be offered in Christie's Hong Kong auction room: a Patek Philippe Ref. 2523J ‘Dual Crown World Time’ with a map of North America depicted on its cloisonné enamel dial.
Christie's Hong Kong is set to make horological history once more with two live sales on 26 May at the Hong Kong Convention and Exhibition Centre. The Ultimate Collection sale will present a comprehensive selection of both contemporary and vintage pieces, featuring a number of elusive "double seal" and "special dial" lots by Patek Philippe, as well as highly desirable commissioned pieces by F.P. Journe. With Rolex recently unveiling new Daytona models at the Watches and Wonders trade show in Geneva to celebrate the 60th anniversary of this legendary watch model, there will also be a rare opportunity for collectors to acquire sought-after, discontinued Daytona references, ranging from the Ref. 116500LN to the vintage Ref. 6264 Paul Newman.
Single Owner Live Auction: The Ultimate Collection
Patek Philippe. A rare 18k white gold and diamond-set limited edition automatic chronograph wristwatch with date and bracelet, celebrating the 40th anniversary of the Nautilus collection. This single-sealed Nautilus model, Ref. 5976/1G-001, dates back to circa 2017. (Est: HK$2,000,000-4,000,000)
Patek Philippe. This Ref. 5207P-001 stands as one of the most complicated timepieces ever crafted by Patek Philippe. The watch combines a minute repeater, instantaneous perpetual calendar, moon phases, day/night and leap year indications, as well as a tourbillon, all housed within a platinum case featuring hand-engraved flanks surrounding a bronze dial. Circa 2010. (Est: HK$4,500,000-9,000,000) CIRCA 2010
Price realised: HK$5,292,000 / US$678,884
Patek Philippe. A remarkably rare and well-preserved 18k gold automatic perpetual calendar wristwatch with moon phases, retailed by Gübelin, Ref. 3448, manufactured in 1977. The Reference 3448, introduced in 1962, was the world's first serially produced self-winding perpetual calendar wristwatch, and until 1978 remained the only one of its kind on the market. This offered piece is therefore one of the last of its kind. (Est: HK$1,200,000-2,400,000)
A stunning 18k pink gold automatic Rolex, featuring diamond and multi-colour gemstone-set accents, sweep centre seconds and date, this Yacht-Master "Candy" model is truly eye-catching. Ref. 116695SATS, circa 2019. (Est: HK$650,000-1,300,000)
Alexandre Bigler, Senior Vice President and Head of Watches, Christie’s Asia Pacific, commented, “It has been a momentous and market-leading year so far for Christie’s Watches in Asia. After breaking the global record back in March for the most valuable timepiece ever sold online, horological history was made yet again with the spectacular standalone sale of a Patek Philippe Ref. 2523J from the magnificent Triazza Collection, reaffirming Christie’s strength across both live and online watch auctions and in selling the most prestigious single-owner collections.The demand in Asia for rare and exceptional timepieces continues and we very much look forward to presenting more exquisite timepieces to global connoisseurs and enthusiasts throughout the rest of the year.”
In addition to the lot above, seven world auction records were set for the following references:
Lot 2288 - F.P. JOURNE. Chronomètre à Résonance Model, Ruthenium Limited Edition of 99 Pieces
Lot 2289 - F.P. JOURNE. Tourbillon Souveraine Model, "China 2010” Limited To 5 Pieces
Lot 2301 - PATEK PHILIPPE. Ref. 879
Lot 2332 - PATEK PHILIPPE. Ref. 1595
Lot 2354 - PATEK PHILIPPE. Ref. 5970J-014, made for The Patek Philippe Watch Art Grand Exhibition London
Lot 2355 - PATEK PHILIPPE. Ref. 3670A-001
Lot 2360 – PATEK PHILIPPE. Sky Moon Tourbillon Model, Ref. 5002R-014
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