Christie’s Watches #1 in Asia for 2021 (with USD 72 million in total)

Christie’s Hong Kong
Reading Time: 6 minutes

Christie’s Hong Kong’s Watches Department
Retains Market Leadership in Asia for 3 Consecutive Years
in Offering The Most Valuable Patek Philippe & Vintage Timepieces at Auction

THE CATEGORY REALISED A HISTORIC COMBINED TOTAL OF
HK$559 MILLION/ US$72 MILLION FOR THE YEAR IN ASIA

Day & Evening Auctions on 27 November
ACHIEVED A COMBINED TOTAL OF HK$228,077,500/ US$29,388,699

Combined Sell-Through Rate of 87%

4 World Auction Records for References Across Both Sales
Including Patek Philippe References: 1436J, 2419J, 2497J,
Richard Mille – Pink Sapphire Ref 07-02

TOP LOT OF THE SALES
Lot 2508 – PATEK PHILIPPE
A UNIQUE 18K GOLD MINUTE REPEATING WRISTWATCH WITH BLACKENED HANDS AND INDEX, LARGE SUBSIDIARY SECOND DIAL, REPEATING SLIDER AND CROWN,
REF. 2419, RETAILED BY CARTIER, MANUFACTURED IN 1946, 
Price realised: HK$23,050,000/ US$2,970,085

Hong Kong – On 27 November, Christie’s Watches Department created another monumental chapter in horological world auction history, with the day auction An Exceptional Season of Watches including The Champion Collection (Part 1) and evening auction Timeless Marvels realising a combined total of HK$228,077,500/ US$29,388,699, pushing the category’s annual sale total in Asia to HK$559 Million/ US$72 Million for the unprecedented offerings, across four live and five online-only auctions.

The sales achieved a combined sale through rate of 87%, with almost 30% of lots sold via Christie’s LiveTM. The bustling saleroom invited bidding by an extensive collector base from 22 countries across 4 continents, as well as an contingent of millennial buyers who accounted for more than 40% of new buyers.

Alexandre Bigler, Vice President and Head of Watches, Christie’s Asia Pacific, commented: “With the remarkable success of the day and evening sales this season, the historic results we achieved this year once again demonstrates Christie’s Asia’s continued market leadership in offering the most valuable Patek Philippe and vintage timepieces, and underscores our unmatched expertise in sourcing and selling the very finest horological masterpieces spanning eras, brands, and designs worldwide. The market is more vibrant than ever in the post-pandemic era, and we look forward to convening watch collectors and enthusiasts again in the two online auctions: Christie’s Fine Watchmaking: Important Timepieces and the Independent Collection (24 November – 10 December), and Watches Online : The Geneva Edit – An Important Private Collection (2 – 14 December)

 

Sale Highlights – Timeless Marvels:

  • The evening sale achieved HK$77,075,000/ US$9,931,422 and achieved an 82% sell-through rate by lot.
  • In addition to the top lot (shown on the cover page and image on the left), buyers showed a strong appetite for other vintage Patek Philippe wristwatches with exceptional provenance, highlighted by Ref. 1436 once owned by Henry Graves Jr., the legendary patron of the brand; as well as Ref. 2497 once acquired by Reginald H. Fullerton Jr., the grandson of Henry Graves Jr.. Both references set auction records.
  • Enamel creations, rare pocket watches, and dome clocks were also 100% sold, highlighted by the amphora-form watch attributed to Piguet & Capt and made for the Chinese market in the early 19th Century, and  an openface keyless lever watch by Patek Philippe, made to celebrate the company’s 175th anniversary in 2014.

 

Lot 2509
Patek Philippe.
An extremely rare and historically important 18k gold split second chronograph wristwatch with breguet numerals, Ref. 1436,
Sold to Henry Graves Jr. In 1947, manufactured in 1946
Price realised: HK$13,450,000/ US$1,733,086

 

Lot 2510
Patek Philippe.
An 18k gold perpetual calendar wristwatch with sweep centre seconds and moon phases,
Ref. 2497, manufactured in 1951
Price realised: HK$13,450,000/ US$1,733,086

 

Lot 2505
Attributed to Piguet & Capt.
An 18k gold and enamel, pearl-set musical, perfume flask and automaton amphora-form watch made for the Chinese market,
Circa 1805
Price realised: HK$6,250,000/ US$805,338

 

Property from The Champion Collection
Lot 2512
Patek Philippe.
A unique 18k white gold openface keyless lever watch with wood miniature and a unique associated 18k white gold, wood and ruby-set Patek Philippe watch stand,
Ref. 982/181g-001,
Made to celebrate the company’s 175th Anniversary in 2014
Price realised: HK$3,000,000/ US$386,562

 

Property from The Champion Collection
Lot 2515
Patek Philippe.
A very fine and rare limited edition stainless steel cushion-shaped single button split seconds chronograph wristwatch with rose gold sunburst dial and black breguet numerals, made in a limited series of 10 pieces
Ref. 5950⁄1a-011, circa 2014
Price realised: HK$5,625,000/ US$724,804

 

Property from The Champion Collection
Lot 2516
Patek Philippe.
A possibly unique and important 18k pink gold and diamond-set tonneau-shaped automatic minute repeating perpeptual alendar wristwatch with retrograde date, moon phases, leap year indication and black dial with diamond-set indexes
Ref. 5013r-014, circa 2010
Price realised: hk$4,000,000/ us$515,416

 

Sale Highlights – An Exceptional Season of Watches including The Champion Collection (Part 1):

  • The sale totalled HK$151,002,500/ US$19,457,276, with sell-through rates of 87% by lot and 89% by value. Close to one-third of lots were sold via Christie’s LiveTM.
  • The top lot was lot 2294 – Richard Mille, a pink sapphire, 18k pink gold and diamond-set skeletonized lady’s automatic wristwatch with mother-of-pearl dial, Ref. RM 07-02, circa 2016, sold for HK$10,450,000/ US$1,346,524 (shown left), setting a world auction record for the reference.
  • Patek Philippe modern complications fetched remarkable prices, particularly for minute-repeating wristwatches references 5074, 5207, and Nautilus model Ref. 5711.
  • Rolex vintage pieces continued to command exceptional prices, led by Ref. 6238 which is one of only two known examples.
  • Timepieces by fast-rising brands and independent watchmakers are becoming increasingly desirable among buyers as the sale saw a 100% sell-through rate for F.P Journe,  A. Lange & SöhneVoutilainenParmigiani Fleurier, and Laurent Ferrier pieces.

 

Lot 2378
Patek Philippe.
A rare platinum automatic “cathedral” minute repeating perpetual calendar wristwatch with moon phases, 24 hour and leap year indication.
Ref. 5074, circa 2012
Price realised: HK$6,850,000/ US$882,650

 

Lot 2379
Patek Philippe.
A rare 18k pink gold minute repeating instantaneous perpetual calendar tourbillon wristwatch with moon phases, day/night and leap year indication
Ref. 5207, circa 2013
Price realised: HK$5,625,000/ US$724,804

 

Lot 2355
Patek Philippe.
A very rare stainless steel automatic wristwatch with sweep centre seconds, date, bracelet and olive green dial
Nautilus model, ref. 5711, circa 2021
Price realised: HK$3,250,000/ US$418,776

 

Property from The Champion Collection
Lot 2288
Voutilainen.
A unique platinum dual-time wristwatch with lacquered dial 28 gml center model, unique piece, circa 2015
Price realised: HK$5,250,000/ US$676,484

 

Lot 2333
Rolex.
A very rare 14k chronograph wristwatch with bracelet, ref. 6238, circa 1967
Price realised: HK$5,000,000/ US$644,270

 

Lot 2205
Rolex.
A group of four 18k white gold automatic chronograph wristwatches with yellow mother-of-pearl, pink mother-of-pearl, turquoise chrysoprase and green chrysoprase dials
Daytona model, Ref. 116519, “beach”, circa 2000 to 2002
Price realised: HK$2,250,000/ US$289,922

 

Property from The Champion Collection
Lot 2214
F.P. Journe.
An 18k pink gold and silver limited edition tourbillon wristwatch, made to celebrate the 30th Anniversary of F.P.Journe 30 year Anniversary tourbillon model, limited edition to 99 pieces, circa 2013
Price realised: HK$3,250,000/ US$418,776

 

Property from The Champion Collection
Lot 2217
F.P. Journe.
An early 18k pink gold dual time chronometer wristwatch with resonance-controlled twin independent gear-train movement and
power reserve Chronomètre à résonance model, circa 2002
Price realised: HK$3,000,000/ US$386,562

 

Lot 2248
A. Lange & Söhne.
An extremely rare 18k pink gold limited edition tourbillon wristwatch with chain fusée and power reserve
Pour le mérite model,
Limited edition to 150 pieces,
Ref. 701.011, circa 1999
Price realised: HK$3,250,000/ US$418,776

2 Trackbacks / Pingbacks

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