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 file for that individual 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 keeping with Phillips, which organized the weekend sale in affiliation with watch public sale specialist Bacs & Russo. The lot set a file for a Patek Philippe Two-Crown Worldtime wristwatch with a cloisonné enamel dial, and for any wristwatch in yellow gold ever offered 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, stated in a joint remark.

Recognized to aficionados by its reference quantity, 2523, this “Silk Highway” mannequin is the earliest ever product of this reference and, in keeping with Phillips, probably the most sought-after and unobtainable timepieces on this planet. Manufactured in 1953, its distinctive options embrace two crowns and a “Eurasia” cloisonné dial, one in every 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 whole 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 stated. It famous that the “restricted manufacturing output and the in another way embellished dials meant that every one in every of these watches was handled virtually as a pièce distinctive (one in every of a form, in English).”

In 2016, Phillips offered a Patek Philippe mannequin 1518 in stainless-steel for $11.1 million, the highest result ever achieved for a classic Patek Philippe wristwatch at public sale.

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