A Uncommon Patek Philippe Watch Simply Offered for $7.8 Million at Public sale – WWD

PRECIOUS TIME: In an indication of wholesome curiosity in distinctive Swiss watches, a uncommon Patek Philippe went for $7.8 million at an public sale in Geneva, setting a brand new world document for that specific mannequin.

An nameless telephone bidder was the victor, amongst 9 contenders who dialed in to The Geneva Watch Public sale: XIII, lots of them from Asia, in response to Phillips, which organized the weekend sale in affiliation with watch public sale specialist Bacs & Russo. The lot set a document for a Patek Philippe Two-Crown Worldtime wristwatch with a cloisonné enamel dial, and for any wristwatch in yellow gold ever bought at public sale. It went for double its low estimate.

“This outcome demonstrates the urge for food throughout the worldwide marketplace for uber-rare, museum-quality watches,” Phillips’ Aurel Bacs, senior advisor, and Alexandre Ghotbi, head of Continental Europe & Center East, mentioned in a joint remark.

Recognized to aficionados by its reference quantity, 2523, this “Silk Highway” mannequin is the earliest ever manufactured from this reference and, in response to Phillips, probably the most sought-after and unobtainable timepieces on the planet. Manufactured in 1953, its distinctive options embody two crowns and a “Eurasia” cloisonné dial, certainly one of solely three with that dial motif.

The Patek Philippe museum in Geneva homes three examples of the 2523 mannequin, and that equals to roughly 10 % of the full manufacturing, making this mannequin the one with the very best ratio of examples current within the museum verses examples made, amongst serially-produced references, Philllips mentioned. It famous that the “restricted manufacturing output and the in another way adorned dials meant that every certainly one of these watches was handled virtually as a pièce distinctive (certainly one of a sort, in English).”

In 2016, Phillips bought a Patek Philippe mannequin 1518 in chrome steel for $11.1 million, the very best outcome ever achieved for a classic Patek Philippe wristwatch at public sale.

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