A private Swiss collector
won the Patek Phillipe wristwatch Reference 1591 for
$1,911,700.
GENEVA, SWITZERLAND - Phillips de Pury & Luxembourg's
November 12 sale of Magnificent Watches and Wristwatches,
totaling $6,938,727, featured the only known example of a yellow
gold Patek Philippe wristwatch Reference 1591, which soared to a
world record price of $1,911,770, tripling its presale high
estimate.
The watch featured a perpetual calendar with moon phases combined
with indirect center seconds and a screw back case. It was in
beautiful and unrestored condition. This is a world record for
any wristwatch ever sold at auction.
The watch, which sold in a long battle among six bidders, finally
went to a Swiss private collector. Another world record was set
when a Patek Philippe Reference 2497 fetched $991,070. This price
put the unique platinum center seconds perpetual calendar
wristwatch into the top ten list of watches ever sold at auction.
The sale, which took place in a packed saleroom in the historic
Hotel des Bergues, was described by Aurel Bacs, director of
Phillips, de Pury & Luxembourg's international watch
department, as "one of the most exciting watch sales ever to take
place. The market was very strong," he continued, "and the
bidding was as passionate from private collectors as it was from
the trade."
"The sale proved that the market for Patek Philippe has never
been stronger. In addition, [the] audience was educated in the
field and was fully aware of the distinctions of rarity and
quality on offer. At all price levels we saw new buyers entering
the market."
A rare example of a Rolex wristwatch, a yellow gold chronograph
with calendar, fetched $94,240, tripling its presale estimate. In
addition, pocket watches of high quality found spirited bidders
including a fine silver pocket chronometer with tour-billon by
Jacques Frederic Hourlet that doubled its presale estimate,
selling for $111,290.
