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Patek Philippe drives remarkable results at Antiquorum's Spring Auction in Hong Kong
Patek Philippe Ref. 3939 Tourbillon Minute Repeater Enamel Dial Pink Gold (Lot 291), very fine and rare minute-repeating 18K pink gold wristwatch with enamel dial, one-minute tourbillon regulator and an 18K pink gold Patek Philippe buckle. Sold on June 28th, 2010. Accompanied by original card travel case, additional case back, hang tag, service box, COSC certificate and Certificate of Origin within a leather folio. Estimate: HKD 2,600,000 – 3,600,000. Sold including buyer's premium: HKD 3,260,000.

HONG KONG.- Antiquorum’s spring auction of “Important Modern and Vintage Timepieces” held at the Mandarin Oriental in Hong Kong on Saturday, January 26 concluded with an outstanding result totaling HKD$28,900,188. An impressive 90% of the 291 timepieces were sold by lot, and numerous lots sold for multiple times their low estimates. The top lots of the auction included a number of unique and rare Patek Philippe wristwatches, skeleton watches and the exceptional Jaeger-LeCoultre Gyrotourbillon 1.

The highlight of the sale was undeniably the Patek Philippe Ref. 5074 platinum minute repeater (Lot 120). The amazingly complicated reference inherited the functionality of the Patek Philippe Ref. 3974 with the mechanism of a minute-repeat with carillon. The combination of pleasant exterior and unique functions demonstrates low-key luxury of the highly collectible watch. After intense competition, the exceptional timepiece was sold to an Asian collector for an extraordinary HKD$4,460,000 including buyer’s premium, the highest price attained in the sale.

Another outstanding timepiece, the Patek Philippe Ref. 3939 (Lot 291) 18K pink gold minute repeating wristwatch with enamel dial and one-minute tourbillon regulator drew much attention from the bidders as well and achieved an outstanding price of HKD$3,260,000 including buyer’s premium.

Collectors covet highly complicated wristwatches from Jaeger-LeCoultre, and the Gyrotourbillon 1, Ref. 149.6.07.S.(Lot 199) platinum wristwatch was an amazing example. The lot sold for an incredible HKD$ 1,940,000 including buyer’s premium.

“We are proud to continue to offer great examples of the most sought-after timepieces at auction,” said Evan Zimmermann, President & CEO, Antiquorum. He continued, “The Patek Philippe Ref. 5074 and Ref. 3939 attained an outstanding price, and the excitement over the collection of skeleton watches and competitive bidding for many lots contributed to the superb results from today’s sale.”

Other Patek Phlippe timepieces also did exceptionally well in the sale. The Patek Philippe Ref. 3450, an 18K yellow gold wristwatch with perpetual calendar (Lot 280) obtained HKD$1,400,000 including buyer’s premium, while the Patek Phlippe Ref. 5050G, a self-winding 18K white gold wristwatch with perpetual calendar (Lot 119) achieved a noteworthy HKD$620,000 including buyer’s premium. Patek Philippe Blue Aquanaut Ref.5066A stainless steel wristwatch, made in a limited edition for Japanese Market in 1997 ( Lot 117) attracted great interest -- after an intense session of fierce bidding, the watch sold for a staggering HKD 231,250 including buyer’s premium, over five times its pre-sale estimate.

Also attracting attention was the skeleton watch collection. The Patek Philippe Ref. 918/4, an 18K yellow gold and diamond skeletonised pocket watch (Lot 287) sparking a bidding war and ultimately attaining a notable HKD 572,000 including buyer’s premium. Not to be outdone, Vacheron Constantin Ref. 43580, 18K platinum and diamond skeletonised wristwatch (Lot 194) attained an impressive HKD$362,500 including buyer’s premium.

Great importance is attached to timepieces with Asian features. An example is Chopard Urushi goldfish 18K white gold and makie (traditional Japanese art of lacquering) wristwatch (Lot 97) created by Japanese artist Kichiro Masumura with Yamada Heiando, aroused great interest and inspired intense competition, finally selling for a notable HKD$325,000 including buyer’s premium, over 4 times its pre-sale estimate. .

“Wristwatches featuring traditional art of a particular region continue to gain popularity among collectors. Chopard Urushi Goldfish wristwatch achieved noteworthy result.” said Julien Schaerer, Auctioneer and Horological Director at Antiquorum Geneva. “The active participation of Chinese buyers in the sale reflects their increasing purchasing power,” he added.

Antiquorum looks forward to its next auction to be held on March 17 in Geneva, which will offer an impressive collection of modern and vintage Patek Philippe timepieces.

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