New World Record Achieved by Antiquorum for Patek Philippe
Written by James Matthews
Following the exceptional results achieved in the September New York sale, Antiquorum held another successful auction of Important Collectors’ Wristwatches, Pocket Watches, Clocks & Horological Tools on October 3 & 4 in Geneva which set a new world record and totalled an impressive 4’336’380 CHF ($4,222,700). Of the 412 lots offered for sale, 78% were sold representing 115% in value. The auction enjoyed strong international internet and phone bidding from countries such as Mexico, Turkey, The US and China in addition to the enthusiastic bidders present in the room.
A new world record was achieved for a Patek Philippe Ref. 5059P (lot 377), a platinum wristwatch with perpetual calendar and retrograde date selling for 114’000 CHF. Patek Philippe timepieces continue to achieve very strong prices as confirmed by the results for each of the three models of the Patek Philippe Ref. 1463 offered in the sale: the Ref. 1463 in pink gold (lot 412) with asthmometer dial sold for an impressive 372’000 CHF; while the Ref. 1463 in stainless steel (lot 197) reached 180’000 CHF. Finally, the Ref. 1463 in yellow gold (lot 196) achieved 120’000 CHF.
“The remarkable result for our October auction is confirmation of the increased strength of the watch market. Collectors are once again enthusiastically bidding on rare and collectible timepieces,” said Robert Maron, Chairman, Antiquorum. “Not only have we achieved excellent results here today, but coupled with the outcome of our September auction in New York, Antiquorum is unquestionably once again the market leader in horological auctions.”
Another highlight of the Antiquorum Geneva auction was the remarkable clock watch “The Hunt” with 13 complications (lot 354) a Grande Complication made for the Indian market by Gideon & Co. at Le Locle which sold for 198’000 CHF.
Also among the highly collectible pocket watches presented at the sale, a platinum minute-repeating carillon watch with Westminster Chimes from Edouard JeanRichard from Le Locle (lot 349) – one of only two known examples – reached 168’000 CHF.
Vacheron Constantin timepieces also achieved outstanding results, in particular the magnificent baguette diamond-set lady’s bracelet watch (lot 100) with a superb result of 96’000 CHF; as well as a very fine and extremely rare minute-repeater 8-day desk clock (lot 98), which inspired a fierce battle in the room among collectors, eventually selling for 38’400 CHF – more than four times its low estimate.
The auction saw the return of exceptional Tourbillon watches with the “Tourbillon Skeleton”, No. 00/12, from Schwarz Etienne (lot 189) which stirred enthusiastic and aggressive internet bidding, ultimately selling for 156’000 CHF. In addition, the Breguet “Tourbillon Squelette”, Ref. 3355 PT (lot 344) sold for a significant 132’000 CHF.
Rolex watches also obtained first-rate results with a Rolex Stainless Steel “Perpetual Precision” Ref. 8171 (lot 397), one of the most sought after models by collectors, acquired for 114’000 CHF after competitive bidding worldwide.
Finally, the extremely fine and highly complicated Orrery Astrolabium Celestial Clock from Christian Van der Klaauw, Joure, No 41/50 (lot 157) reached 66’000 CHF, nearly double its low estimate.
“We are very pleased by the results for our first auction of the season in Geneva,” said William Rohr, COO, Antiquorum.” We’re particularly delighted by the increased demand for tourbillon watches which achieved excellent prices in today’s sale. “With today’s extraordinary outcome, we look forward to our next auction in November which will include an impressive collection of exceptional cloisonné timepieces, some of which are rarely seen at auction.”
Lot 412
Ref. 1463, Pink Gold – Asthmometer Dial Patek Philippe, Genève, movement No. 863918, case No. 644760, Ref. 1463. Made in 1946, sold on July 9th, 1947. Extremely fine and exceptionally rare, water-resistant, 18K pink gold wristwatch with round button chronograph, 30-minute register, asthmometer scale graduated for 5 respirations and a Patek Philippe 18K pink gold expandable bracelet with deployant clasp by Gay Frères. Accompanied by the Extract from the Archives.
Sold including buyer’s premium: CHF 372,000
Lot 354
The Hunt Watch with 13 Complications Gideon & Co., Locle, Swiss, No. 86825, the movement attributable to Henry Grandjean & Cie., (Le Locle). Made for the Indian market, circa 1900, sold to the Sixth Nizam of Hyderabad, Mahbub Ali Khan (reigned 1869 –1911). Very fine, important and rare, grande and petite sonnerie, minute-repeating, heavy 18K yellow gold, painted on enamel and rose-cut diamond-set eight day going two-train keyless clockwatch with triple date, chronograph, central progressive minute recording hand, moon phases and lunar calendar.
Sold including buyer’s premium: CHF 198,000
Lot 197
Ref. 1463, Stainless Steel Patek Philippe & Co., Genève, No. 862997, case No. 625762, Ref. 1463. Made in 1942, sold on July 19th, 1944. Very fine and extremely rare, water-resistant, stainless steel wristwatch with round button chronograph, 30-minute register, tachometer and a Patek Philippe stainless steel buckle. Accompanied by the Extract from the Archives.
Sold including buyer’s premium: CHF 180,000
Next Antiquorum Sales – 2009:
Geneva: Saturday 14 & Sunday 15 November
New York: Wednesday 9 & Thursday 10 December
About Antiquorum
Established in Geneva in 1974, with the addition of its New York affiliate Antiquorum USA in 1994, Antiquorum has carved its own unparalleled niche in the auction world by cultivating a thriving collector’s market for timepieces worldwide.
An impressive 49 of the 81 watches sold publicly by major auction houses for over SFr. 1,000,000 were sold by Antiquorum. In 2002, Antiquorum set the all-time world record for a wristwatch at auction, selling a unique 1939 platinum Patek Philippe World Time Ref. 1415 for US$ 4,026,524 (SFr. 6,603,500) – more than double the previous world record. Another record price for a modern watch was achieved in 2004, the unique white gold Calibre 89, also by Patek Philippe, was sold for SFr. 6,603,500 (US$ 5,002,652). Among the world records in 2005, the “Tour de l’Ile”, at US$ 1,564,000 (SFr. 1,876,250), set a world record for a contemporary wristwatch and the “King Fouad I”, at US$ 2,755,000 (SFr. 3,306,250), achieved the highest price ever paid for a Vacheron Constantin. Another record was achieved in 2009, when Gandhi’s pocket watch, sandals, glasses, bowl and thali, sold for an astounding $2,096,000.
Antiquorum holds approximately ten auctions a year, in Geneva, New York, and Hong Kong, with previews held in major cities worldwide. In addition to its auction centers in Geneva, New York, and Hong Kong, Antiquorum maintains offices and agents in Paris, Milan, London, Munich, Shanghai, Tokyo, and Moscow.
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This post was written by James Matthews. If you have any questions or comments you may contact him at james@jewelerslounge.com
