Patek Philippe Watches Yield Record Sales at Geneva Auction
Swiss watch brand Patek Philippe achieved record sales at an auction in Geneva, Switzerland last weekend.
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.