Rare Patek could change hands for £2.4m

The Geneva Watch Auction, announced by auction house Phillips, is to include the £2.4m stainless steel Patek Philippe 1518, which is considered to be one of the world’s rarest collector’s watches, according to Phillips.

There are only four known pieces of its kind. In addition to the stainless steel model, the auction will exhibit 44 in pink gold and more in yellow gold, which are priced at £477,000 – £950,000 and £199,000 – £397,000, respectively.

The auction, which will take place in Geneva on November 12 – 13 will be a double evening sale, which it said is dedicated to the ‘world’s finest collectible timepieces’.

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Also at the auction, will be the Rolex Dragon, estimated at £397,000 – £790,000; the Rolex Perfect Rose, estimated at £238,000 – £477,000; the Rolex ‘James Bond’ Submariner 4-Liner, estimated at £238,000 – £600,000; the Rolex Cosmograph Daytona, estimated at £199,000 – £397,000; and the Patek Philippe Night Watchman, estimated at £159,000 – £318,000.

A host of other extremely rare watches will be present at the auction, which collectors are eagerly awaiting.

Phillips said it is dedicated to an uncompromised approach to quality, transparency and client service and in its inaugural year as an auctioneer, it achieved a total of £62m. With 10 watches selling for more than £770,000, gaining multiple world records, including for the highest result ever achieved for a wristwatch sold at auction, Phillips considers itself to be a leading auction house

In auction season earlier this year, it claimed it achieved nearly £40.88m. In November 2015 it sold a Patek Philippe 5016 for £5.63m, which was the highest result every for a wristwatch at auction.


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