An exceptionally uncommon Patek Philippe world timer set two new world data over the weekend after realizing almost $8 million at a nail-biting public sale.
Billed because the “finish sport” for collectors, the timepiece eclipsed its excessive estimate of $4 million by virtually double to promote for an astronomical $7.8 million at Phillips’ Geneva watch sale on Saturday, Could 8. In keeping with Phillips, that is essentially the most ever paid for a yellow gold wristwatch at public sale. It’s additionally a file excessive for this explicit mannequin.
The public sale home mentioned the coveted wrist sweet sparked a protracted and ferocious bidding conflict between 9 worldwide collectors earlier than it lastly was snapped up by an nameless telephone bidder.
The timepiece, identified to aficionados as “The Silk Highway,” was the primary of simply 11 Ref. 2523 fashions to be made and one in all solely three to characteristic an outline of the Eurasian landmass. It sports activities an immaculate cloisonné enamel dial and two crowns: One winds the watch, whereas the opposite controls the town ring, a characteristic that permits the wearer to calculate the present time within the 40 cities listed across the watch’s circumference. It’s additionally powered by the Swiss watchmaker’s “time solely” 12-ligne motion—the cal. 12-400—personally modified by the inventor of the world time system Louis Cottier.
It’s been almost twenty years since a Ref. 2523 that includes a map of Europe and Asia appeared available on the market. As an extra testomony to the mannequin’s significance, one in all its counterparts really resides within the Patek Philippe museum whereas the opposite is housed in a non-public assortment. This explains the sky-high hammer worth. This explicit timepiece, which laid dormant for a number of years, now takes the title of the most costly Patek Philippe Worldtime two-crown wristwatch with a cloisonné enamel dial to be offered at public sale.
“This end result demonstrates the urge for food throughout the worldwide marketplace for uber-rare museum-quality watches and Phillips’ potential to deliver such horological grails to the market,” Aurel Bacs, Phillips’s senior advisor, and Alexandre Ghotbi, head of Europe and the Center East, collectively mentioned in a press release.
It wasn’t simply classic Patek Phillippe timepieces reaching spectacular sums on the $42 million weekend public sale, both. A decidedly fashionable platinum Nautilus, Ref. 5711P, offered for simply over half a mil (approx. $630,475). Proof that new or outdated, Pateks will at all times pull within the large bucks.