Press Release

Sotheby’s Achieves Highest Sale Series for Watches in Asia, Totaling HK$338m/ US$43m

Hong Kong
Led By:

THE NEVADIAN COLLECTOR
As A Pink Gold Reference 2499 Retailed by the World Renowned Gobbi Milano
The Only Known Pink Gold 2nd Series to Feature a Retailer Signature on the Dial
Soars to HK$60.3m/ US$7.7m
*Setting A World Auction Record for a Patek Philippe Reference 2499*

*

White-Glove Sale, with All 39 Lot Sold, Realizing HK$162.4m/ US$20.7m
*The Most Valuable Single-Owner Watches Sale Ever Staged at Sotheby’s Asia*

*

IMPORTANT WATCHES I
Realises HK$175.3m/ US$22.3m
Led by a Platinum and Diamond-Set Patek Philippe Reference 5217
Selling Above High Estimate at HK$17.9m/ US$2.3m
Leading Lot from The Nevadian Collector sale: A Pink Gold Reference 2499 Retailed by the World Renowned Gobbi Milano

In the course of two days, Sotheby’s has staged two highly successful watches auctions; a white glove sale for The Nevadian Collector – a prestigious private collection encompassing the most exceptional vintage timepieces, followed by the Important Watches I sale, contributing to a combined total of HK$338m/ US$43m, together resulting to the highest sale series for Sotheby’s Watches in Asia.

We are extremely delighted to consecutively put together a record-breaking sale series in Asia. Not only did we witness a new world record for the most important vintage reference for Patek Philippe, but setting the record here in Asia also demonstrates how the region has been a major driving force for the global market. Our global Watches team looks forward to presenting the most pristine and rarest timepieces in our upcoming sales this Spring, highlighted by Gérald Genta’s very own Royal Oak in Geneva this May and the final iteration of the Icon of Time sale series in New York this June.
Joey Luk, Sotheby’s Head of Watches, Asia

The Nevadian Collector (25 April 2022)

Sale Total: HK$162,378,100/ US$20,695,000
The Most Valuable Single-Owner Watches Sale Ever Staged by Sotheby’s in Asia

  • All 39 lots sold
  • 82% of the lots sold above high estimate

Stellar Results for Patek Philippe Reference 2499

- After a 6-minute bidding battle among 4 telephone bidders, a possibly unique Patek Philippe Pink Gold Reference 2499 Retailed by Gobbi Milano soared to HK$60,265,000/ US$7.7m (Lot 2018, est. HK$24m – 48m / US$3m – 6m), setting a new world auction record for the reference, almost doubling the previous record set by Sotheby’s in 2018 in Geneva with a 1st series The Asprey. It is worth noting that both record-breaking examples were consigned to Sotheby’s from the same private collector.

- Three other reference 2499 offered in the sale were also sold above high estimates: the only known example of a 2nd series with a luminous dial, realized HK$23,365,000/ US$3m (Lot 2021, est. HK$6.4m – 12.5m / US$820,000 – 1.6m); a yellow gold 3rd series realized HK$8,820,000/ US$1.1m (Lot 2026, est. HK$2.4m – 4m/ US$308,000 – 513,000), and a yellow gold 4th series realized HK$7,560,000/ US$963,000 (Lot 2032, est. HK$3.2m – 4.8/ US$410,000 – 615,000).

- Together, all 4 reference 2499 totalled HK$100m/ US$12.7m, contributing significantly to the sale.

Other Top Prices Achieved

- Patek Philippe Reference 1518, a pink gold perpetual calendar chronograph wristwatch with moon phases and pink dial, realized HK$22,760,000/ US$2.9m, almost 3 times the estimate (Lot 2009, est. HK$8m – 16m/ US$1m – 2m)

- Patek Philippe 570, a pink gold wristwatch made in 1954, achieved HK$1,386,000/ US$177,000 (Lot 2006, est. HK$240,000 – 400,000/ US$30,800 – 51,300), setting an auction record for the reference.

- Patek Philippe Reference 655/1, a yellow gold two train trip minute repeating openface straight line perpetual calendar watch with moon phases, retailed by Tiffany & Co, realized HK$3,528,000/ US$450,000 (Lot 2011, est. HK$2m – 2.8m/ US$256,000 – 359,000)

- Patek Philippe Reference 605, a pink gold worldtime openface watch with pink dial, retailed by Gübelin, realized HK$2,520,000/ US$321,000, soared 6 times over the estimate (Lot 2005, est. HK$400,000 – 500,000/ US$51,000 – 64,000)



The Important Watches I (26 April 2022)

Sale Total: HK$175,315,620/ US$22,340,500
Sale Highlights:

- Leading the sale was a Patek Philippe Reference 5217, a platinum and diamond-set minute repeating instantaneous perpetual calendar tourbillon wristwatch with day, date, moon phases and leap year indication, first time the reference offered at auction, it realized HK$17,920,000/ US$2.3m (Lot 2310, est. HK$6m – 10m/ US$780,000 – 1.3m)

- Patek Philippe Reference 5016, a white gold minute repeating perpetual calendar tourbillon wristwatch with day, retrograde date, moon phases, leap year indication, black dial and red accents, Circa 2012, realized HK$10,055,000/ US$1.3m, setting an auction record for the reference (Lot 2209, est. HK$5.5m – 9.5m/ US$705,000 – 1.3m)

- Patek Philippe Reference 3940, a limited edition perpetual calendar wristwatch with day, date, moon phases, leap year indication and champagne dial, made to commemorate the 225th Anniversary of Chronometrie Beyer, realized HK$3,024,000/ US$385,000, setting an auction record for the reference (Lot 2175, est. HK$1.2m – 1.8m/ US$154,000 – 231,000)

- Patek Philippe Reference 5971, a platinum and baguette cut diamond-set perpetual calendar chronograph wristwatch with day, date, moon phases, 24 hours and leap year indication, realized HK$3,276,000/ US$417,000, setting an auction record for the reference (Lot 2314, est. HK$1.4m – 1.8m/ US$179,000 – 231,000)

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