Patek Philippe Watches Yield Record Sales at Geneva Auction

The Antiquorum auction of “Important Modern & Vintage Timepieces” yielded 5.35 million Swiss francs ($6 million) thanks in large part due to several Patek Philippe watches selling for above their estimated price.

The most lucrative sale was a Patek Philippe Ref. 5077 with “American Indian” cloisonné dial that achieved 201,750 Swiss francs ($226,568) – more than double its high estimate.

The most popular lot proved to be a Patek Philippe Ref. 2499 Third Series in yellow gold, with rare perpetual calendar, which provoked a bidding war between six phone bidders and four room bidders before selling for nearly twice its high estimate, for 465,750 Swiss francs, or $523,036.

Other notable pieces to go under the hammer included a Patek Philippe Ref. 2499 Third Series in yellow gold, with rare perpetual calendar, which sold for nearly twice its high estimate, for 465,750 Swiss francs ($523,036.).

As well as Patek Philippe, a number of other renowned watch manufacturers sold pieces at the auction, including several vintage Rolex watches and a rare Omega watch with a cloisonne dial depicting Neptune’s Chariot.

“It is clear from today’s results that the market for rare timepieces in excellent condition remains robust,” commented Julien Schaerer, Managing Director & Auctioneer at Antiquorum Geneva.

Last September, Patek Philippe Sold a 5004 Split-Seconds Perpetual Calendar in Titanium for€2.95 million at the Only Watch charity auction in Monaco – the largest amount ever received at an Only Watch auction.