HONG KONG.- Phillips in Association with Bacs & Russo will hold its first auction in Hong Kong on 1 December 2015 at the Four Seasons Hotel.

The sale will showcase more than 350 exceptional vintage and modern timepieces by some of the world’s most renowned watchmakers, including Patek Philippe, Piaget, Rolex, Audemars Piguet, Vacheron Constantin, Breguet and Cartier. Phillips is one of the world’s leaders in the category of fine watches.

Phillips is a leading global platform for buying and selling 20th and 21st century art and design. It has a long and distinguished history in a wide range of auction categories including Contemporary Art, Photographs, Editions, Design, Jewellery and Watches.

Under the leadership of Edward Dolman, who became Chairman and Chief Executive Officer in 2014, Phillips has embarked on a program of international expansion. In 2014, it opened a new London office in Berkeley Square in the heart of Mayfair. The following year, the company opened its new Asian headquarters in the prestigious Landmark building in Central Hong Kong.

“We are very excited about our new presence in Hong Kong,” said Edward Dolman. “We feel the time is right for Phillips to enter the Asian market and we aim to develop as an innovative auction house throughout the region. Following our first sale of watches in December 2015, we plan to hold sales of both Western and Asian contemporary art in Hong Kong in autumn 2016. Earlier this year, we appointed Matt Carey-Williams as Deputy Chairman, Europe and Asia, and we are in the process of adding to our team to make sure we continue to strengthen our relationships in the region. Art collecting in Asia has been growing at a tremendous rate, and we are seeing more Asian collectors at our sales in London and New York. We are looking at long-term development and a broadening of future auction categories in Hong Kong.”

Phillips recently named Sam Hines as International Head of Watches. He will head the global team of Watch Specialists from Phillips’ new offices in Hong Kong. With 20 years of experience in the auction world, Sam has held executive positions in New York and Asia since 2008, spearheading many groundbreaking sales of important watches all over the world.

Sam Hines said, “We are thrilled to bring a new type of sale to Hong Kong, with an emphasis on quality, not quantity. With a total estimate of US$13.5 million, the sale will feature a smaller number of lots, but will have exceptional quality. Hong Kong is a very important watch auction centre, with a long collecting history and many of the world’s most important collectors. We will offer a wide variety of watches, including some historical antiques never been offered at auction in Asia. For example, we will auction an 1829 Breguet openface watch once owned by a Russian princess and a Patek Philippe made in 1924 that won first prize at the Geneva Astronomical Observatory for timing accuracy. Also on offer will be rare vintage watches, including the top lot by Patek Philippe. This is one of only two white gold models of this reference known to exist, so it is extremely rare and expected to generate a huge amount of interest. Also included are some rare pocket watches and important Rolex watches that are now highly sought-after, as well as classic jewelled watches for women.”

Star lot by Patek Philippe
Taking the center stage of this first auction is an extremely rare and highly important white gold automatic perpetual wristwatch with moon phases and leap year indicator by Patek Philippe, Reference 3450, manufactured in 1985 (Est. HK$8,000,000-16,000,000 / US$1,000,000-2,000,000, Lot 305). This superb timepiece comes with its original certificate and fitted presentation box and is expected to arouse enormous interest among watch aficionados.

One of only two pieces known to have been made in white gold, this watch was last seen on the market in 1993 in New York. Originally purchased at the Patek Philippe salon in Geneva, the watch has been retained in remarkably sharp, crisp condition with two sharp hallmarks to the side of the case. The manufacture name, mechanical complexity, rarity, condition and provenance make it one of the most important, beautiful desirable and valuable discoveries in the world of Patek Philippe watch collecting.

CONTEMPORARY CLASSICS
Phillips is thrilled to offer in this sale an array of superb Patek Philippe masterpieces, led by an extremely rare and important platinum minute repeating perpetual calendar tourbillon wristwatch with retrograde date, moon phases and leap year indication, ref. no. 5016 (Est. HK$3,200,000-4,800,000/ US$400,000-600,000, Lot 352). Manufactured in 2002, this exceptional lot comes with original certificate, additional case back and a fitted presentation box.

Equally noteworthy is a very fine and extremely rare Patek Philippe pink gold tonneau-shaped minute repeating perpetual calendar wristwatch with retrograde date, moon phases, leap year indicator, rare chocolate brown dial and Breguet numerals, ref. no. 5013, manufactured in 2008 (Est. HK$3,100,000-4,600,000/ US$390,000-575,000, Lot 348). It also comes with additional case back, original certificate and a fitted presentation box.

A further highlight is an extremely rare and highly important Patek Philippe platinum minute repeating tourbillon wristwatch with enamel dial, Breguet numerals, original certificate, additional case back and fitted presentation box, ref. no. 3939, manufactured in 2002 (Est. HK$2,400,000-4,000,000/ US$300,000-500,000, Lot 139).

MODERN COMPLICATED WATCHES
Outstanding modern complicated watches that are highly coveted by collectors worldwide are presented in the sale, including a very fine, rare and important platinum limited edition "Tourbograph Pour le Mérite" tourbillon double split seconds chronograph wristwatch with fusée-and-chain transmission by A. Lange & Söhne, ref. no. 702.025F, circa 2011 (Est. HK$2,300,000-5,000,000/ US$300,000-625,000, Lot 338).

Another notable piece by A. Lange & Söhne is an extremely fine and very rare platinum limited edition "Lange Zeitwerk Handwerkskunst" wristwatch with digital time display, power reserve, hack feature and hand chiseled dial, ref. no. 140.048, circa 2013. (Est. HK$1,000,000-2,000,000/ US$125,000-250,000, Lot 335).

Also attracting interest is an extremely fine, important and very rare pink gold limited edition 30 degree "Double Tourbillon Asymétrique" wristwatch with power reserve manufactured by Greubel Forsey in 2014 (Est. HK$1,800,000-3,200,000/ US$225,000-400,000, Lot 329).

IMPORTANT POCKET WATCHES
Another prime offering is an extremely rare and historically important stainless steel openface watch with one minute tourbillon regulator awarded the first prize at the Geneva Astronomical Observatory for the timing contest on February 3, 1931 with two zone sector dial, additional yellow gold case, dial, hands and fitted presentation box, manufactured by Patek Philippe in 1924 (Est. HK$3,900,000-8,000,000/ US$503,000-1,030,000, Lot 315). The present watch is the only known stainless steel tourbillon in private hands. Only one other example of a stainless steel tourbillon is known and is on display at the Patek Philippe museum. Exceptional quality, this tourbillon is further enhanced by the additional gold case, dial and hands. Further distinguishing this incredible horological work of art, the watch was sold and cased very soon after testing, a mere four years. The majority of other tourbillon watches were tested, and the movement then remained with the firm for another 20, 30 or even 40 years and cased and sold decades after testing to their most prestigious clients. The sector dial truly finishes this magnificent watch and is destined to draw the attention of the most astute wristwatch collectors.

Also on offer is an exceptional, highly important and historical yellow gold slim miniature half quarter repeating openface watch with date and day running anticlockwise, moon phases, compensation balance with 22 platinum screws, double wheel duplex escapement and certificate manufactured by Breguet, circa 1829 (Est. HK$1,950,000-3,000,000/ US$252,000-387,000, Lot 320). This miniature complicated watch, numbered 4730, previously unknown to the market. Its case measures only 37 millimetres, slightly larger than a one Euro coin. The watch was originally sold to the Russian Princess Catherine Bagration in 1829 and rumoured to be a gift for Colonel Caradoc whom she was married to. The watch was resold to Breguet in 1830 after the end of this marriage, then resold in 1835 to Mr. Nathaniel de Rothschild who established the Château Mouton Rothschild. This watch is the only known Breguet finished with Roman numerals that all sit vertical and do not turn with the dial on the watch.

CLASSIC LADY’S WATCHES
This crown jewel in this section will captivate the hearts of many collectors, including an extremely rare, elegant and exceptional platinum and diamond-set "Cadenas" bracelet watch was manufactured by Van Cleef & Arpels, circa 1940 (Est. HK$2,000,000-4,000,000/ US$250,000-500,000, Lot 280). ‘Cadenas’ in French means ‘lock’. It was the name of design in the mid-1930s. The Van Cleef & Arpels Cadenas bracelet watch was custom made by Van Cleef and Arpels for the Duchess of Windsor. The Duke of Windsor spent many hours with Van Cleef & Arpels to add his personal touch to these gifted creations and even included secret messages, numbers and codes. The original provenance of the present lot is unknown, however it is believed to be bought in New York in the early 1940’s, at a time when the Duke and the Duchess of Windsor were living at a suite in the Waldorf Astoria Hotel. The offering was purchased in a local auction of royalty themed property in England, and it was sold alongside other very personal objects from the Duke and Duchess of Windsor.

Further highlights include a lady's beautiful and extremely rare platinum, diamond and emerald-set bracelet watch with original certificate and fitted presentation box manufactured by Patek Philippe in 1956, ref. no. 3086/23 (Est. HK$800,000-1,600,000/ US$100,000-200,000, Lot 279). This is an incredible example and illustrates perfectly how Patek Philippe far exceeds expectations when it comes to all manners of horology. Cased in platinum, lavishly set with diamonds and emeralds, the watch is preserved in pristine condition, having hardly ever been used. To complement the importance further, the watch still retains its original certificate and box. Purchased at the legendary Patek Philippe 1999 theme auction in Geneva, the watch has remained in the same important collection and is truly a superlative masterpiece.

A very fine and important lady's platinum and multi gem-set tutti-frutti bracelet watch, manufactured by Audemars Piguet in 1929 (Est. HK$560,000-720,000/ US$70,000-90,000, Lot 276). Luxury jewelry houses and watch manufactures began to manufacture exquisitely decorated objects following the Great Depression in a bid to encourage new spending, among them tutti-frutti bracelet watch. ‘Tutti Frutti’ jewelry was inspired by the design, colour and setting of Indian gem-set jewelry and Egyptian Revival. The current masterpiece by Audemars Piguet is adorned by rubies, emeralds, sapphires and diamonds with an assortment of patterns and motifs. The essence of beauty was illustrated in the stunning colour combinations mixing these multi-colour gems engraved with floral motif, overturning the conventional jewellery design.

An extremely rare and important platinum, emerald, diamond and ruby-set bracelet watch with concealed dial, Audemars Piguet movement manufactured in 1921 designed by Oscar Heyman which comes with copy of original drawing and fitted presentation box (Est. HK$780,000-1,600,000/ US$100,000-200,000, Lot 278). The design of the present lot is distinguished by the present bracelet’s brilliant diamonds, carved rubies in the form of scarabs, baguette emeralds and unique claw setting. The hinged cover is further inspired by the Maharaja’s jewels, with a central marquise diamond flanked by two brilliant cut diamonds on either side and further surrounded by two rows of brilliant cut diamonds. This bracelet, designed in the style of ‘Tutti Frutti', can be best described as a superlative watch of the 1920s Art Deco period, merging the finest craftsmanship with one of the most prestigious watchmakers of the period.

IMPORTANT ROLEX
A selection of very exceptional Rolex is expected to generate furious bidding. Important highlights include a fine and extremely rare yellow gold chronograph wristwatch with bracelet, Cosmograph Daytona "Paul Newman, John Player Special" and fitted presentation box, ref. no. 6264, manufactured by Rolex, circa 1969 (Est. HK$2,500,000-3,500,000/ US$320,000-451,000, Lot 234). The Rolex Daytona was first introduced in 1963. Over the past 50 years, the Daytona has evolved and Rolex has manufactured many references with different dials and case configuration. The most collectible and sought after variants are those fitted with exotic dials or as the market has lovely nicknamed them ‘Paul Newman’ dials. The present lot was manufactured for roughly 3 years only, introduced in the late 1960s and discontinued in approximately 1972 boasting an outstanding condition and quality.

Another Rolex Cosmograph Daytona on offer is ref. no. 16588: a fine and very rare yellow gold, diamond and pink sapphire-set chronograph wristwatch manufactured in 1997 (Est. HK$500,000- 800,000/ US$62,500-100,000, Lot 183).