Modern Patek Philippe wristwatches dominate Sotheby's $8.2 Million Important Watches Auction in NYC

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Modern Patek Philippe wristwatches dominate Sotheby's $8.2 Million Important Watches Auction in NYC
Patek Philippe Ref 5976, A Limited Edition White Gold and Diamond Set Automatic Flyback Chronograph Wristwatch circa 2016. Sold for: $287,500 (CHF 283,168/HK$2,247,498). Courtesy Sotheby's.

NEW YORK, NY.- Sam Hines, Worldwide Head of Watches at Sotheby’s, and Katharine Thomas, Head of Sotheby’s Watches & Clocks Department in New York, commented: “We are thrilled with the very strong results from yesterday’s sale, which saw enthusiastic international bidding from the United States, Europe, Asia and the Middle East, with a significant number of new bidders and buyers. The strength of the market was reflected in the tremendous results for modern Patek Philippe wristwatches and Nautilus references, which comprised 90% of our top lots sold and were the overall standouts of the sale. We were equally excited to see such strong results for a variety of Rolex references, including a new world auction record for a Rolex ref. 5513/5517 Military Submariner, which achieved more than four times its high estimate. We are encouraged by the depth of the market at every level, and look forward to carrying this momentum into the new year.”



Leading the selection of important Patek Philippe minute-repeating wristwatches was the Ref 5033, A Platinum Automatic Annual Calendar Minute Repeating Wristwatch, which sold for $300,000. The reference was first introduced to the market in 2002, encased exclusively in platinum. According to scholarship, the firm produced the reference in a series of fewer than 80 pieces.

Ref 5079J, A Yellow Gold Minute Repeating Wristwatch with Enamel Dial achieved $250,000. The reference was launched in 2001, and to the best of our research, only about 70 examples were produced within a five-year period before the reference was retired.

Today’s auction was highlighted by an exceptional offering of modern Patek Philippe Nautilus references, led by limited edition wristwatches to celebrate the 40th anniversary of the Nautilus. Produced as a commemorative, limited series of 1,300 examples, A Ref 5976/1G Nautilus 40th Anniversary Limited Edition White Gold Automatic Flyback Chronograph Wristwatch made in 2016 achieved $287,500. The vibrant blue dial is adorned with baguette diamond hour markers and embossed with 1976-40-2016 to pay tribute to the exciting occasion.

A Patek Philippe Ref 5711/1P Nautilus, A Platinum Automatic Wristwatch circa 2016, achieved $275,000. The firm produced a limited edition of 700 watches in platinum for the occasion, each enhanced with an embossed logo at 6 o'clock reading "40 1976-2016", and diamond-set hour markers.

Appearing at auction for the first time, a Rolex Ref 5513/5517 Military Submariner, A Stainless Steel Automatic Center Seconds Wristwatch made for the British Military, circa 1974 soared to $262,500, more than four times its $60,000 high estimate and a world auction record for a double reference military submariner. The firm created the historic Military Submariner upon special request from the British Ministry of Defense. These commissioned pieces were designed to be worn by soldiers during combat, featuring the iconic military designation 'T' below the arbor.

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