Christie’s spring sale in Hong Kong auction last week demonstrated the ongoing demand for prestigious rare watches as it generated sales worth almost $35 million at an average hammer price 139% above estimates.
The highest price paid was $3.8 million for an 18ct gold ref. 3448 “no moon” automatic perpetual calendar by Patek Philippe (pictured top).
The auction was split into day and night sales, and all 18 watches in the later event with the most prestigious timepieces exceeded their reserve and sold.
Star lots at the auctions included:
PATEK PHILIPPE. A magnificent and important 18K pink gold World Time wristwatch with cloisonné enamel dial depicting the eastern hemisphere. Ref. 1415, manufactured in 1949. Auction World Record for the Reference. Price Realised: HK$17,650,000 / US$2,284,326.
PATEK PHILIPPE. An extremely fine, unique and important 18K gold two crown World Time wristwatch with 24 hours indication, guilloché silvered dial, luminous hands and gold bracelet. Ref. 2523/1, manufactured in 1965. Price Realized: HK$15,850,000 / US$2,051,364.
PATEK PHILIPPE. An exceptional 18k gold wristwatch with sweep centre seconds and cloisonné enamel dial, “The Lighthouse”, Ref. 2481, manufactured in 1954. Auction World Record for the Reference. Price Realised: HK$7,810,000 / US$1,010,798.
PATEK PHILIPPE. A unique and highly important 18k pink gold ‘spider lugs’ chronograph wristwatch with tachymeter and engraved bezel, Ref. 1579, retailed by Gobbi Milano, manufatured in 1955. Auction World Record for the Reference. Price Realised: HK$5,500,000 / US$711,830.
PATEK PHILIPPE. A magnificent and very rare 18k gold automatic perpetual calendar wristwatch with moon phases and leap year indication, Ref. 3450, retailed by Gübelin, manufactured in 1985. Auction World Record for the Reference. Price Realised: HK$4,375,000 / US$556,228.
PATEK PHILIPPE. An extremely rare and impressive 18k pink gold automatic wristwatch with black enamel dial Ref. 2526, manufactured in 1957. Auction World Record for the Reference. Price Realized: HK$5,250,000 / US$679,474.