Yasuharu Abe's Patek Theory - 134th Edition - Results! Held on November 5th and 6th! [PHILLIPS] Auction in Geneva

Good evening everyone.

As we mentioned in our previous column, this time we will be reporting the latest results of the PHILLIPS watch auction held in Geneva on November 5th and 6th.

Among the watch auctions held around the world, the one that shows the most excitement is the one in Geneva, the mecca of watches. The results of the first auction, PHILLIPS, will have an impact on the subsequent auctions, so it is of particular interest. Please read to the end to find out how much the models introduced here fetched.

*If your bid is successful, the amount paid to the auction company will include a separate fee (26%).
*For Japanese yen, we refer to the most recent exchange rate at the time of publication.
*CHF (Swiss Franc) = 148.91 yen *All images are from PHLLIPS.

[Lot.15]
"Perpetual Calendar Chronograph" PT
"Ref.5970P-001"

Estimate: CHF 120,000 – 200,000
(JPY 17,869,200 – 29,782,000)

《 Explanation from the previous column 》
The Ref.5970, announced as the successor to the Ref.3970, the third generation of the Perpetual Calendar Chronograph, is the last Perpetual Calendar Chronograph to feature a Lemania-based movement. The PT (platinum) version was the last to be announced, had a very short production period, and was the only model to use a black dial, so it was popular from the beginning and there were few units in circulation. Recently, Commit Ginza (hereinafter referred to as our store) sold an overhauled and case-finished unit for nearly 40 million yen (tax included). Expectations for this model are high, and the market price is expected to continue to rise.

▶ Successful bid: CHF 264,600 (JPY 39,401,586)

The successful bid was almost the same as the price at which we sold it in our store the other day, and being able to price it so similar to the global market gives us confidence and is proof that we are able to sell to customers at a fair price, so we are very pleased.

[Lot.16]
"Perpetual Calendar Chronograph" 18KRG
"Ref.5970R-001"

Estimate: CHF 100,000 – 200,000
(JPY 14,891,000 – 29,782,000)

《 Explanation from the previous column 》
Next up is the Ref. 5970, also equipped with the Lemania-based movement Cal. 27-70 Q, in an 18KRG (rose gold) case. The 18KRG (rose gold) case was introduced at Baselworld in 2004 along with the 18KWG (white gold) case. The slightly grayish silver dial is warm and this is a truly beautiful model.

▶ Successful bid: CHF 207,900 (JPY 30,958,389)

The winning bid was higher than I had anticipated. As expected, the demand for the "Perpetual Calendar Chronograph" "Ref. 5970", the last model equipped with a Lemania-based movement, was high.

[Lot.17]
"Perpetual Calendar Chronograph" 18KWG
"Ref.5970G-001"

Estimate: CHF 100,000 – 200,000
(JPY 14,891,000 – 29,782,000)

《 Explanation from the previous column 》
Next up is the Ref. 5970, also equipped with the Lemania-based movement Cal. 27-70 Q, in an 18KWG (white gold) case. As mentioned above, it was released at Baselworld in 2004 with an 18KRG (rose gold) case. This was also the first one to arrive at our store the other day, and we immediately put it on sale. This watch has a very cool impression with its grayish silver dial.

▶ Successful bid: CHF 264,600 (JPY 39,401,586)

The winning bid was the same as that for the PT (platinum) model, but I was still surprised by the amount. In the past, we have handled various models, but considering the high demand, it is understandable why we were not able to get hold of this model.

[Lot.18]
"Perpetual Calendar Chronograph" 18KYG
"Ref.5970J-001"

Estimate: CHF 80,000 – 160,000
(JPY 11,912,800 – 23,825,600)

《 Explanation from the previous column 》
The 18KYG (yellow gold) case "Ref. 5970J-001" was released in 2008 when the "Lehman Shock" occurred. The following year, the PT (platinum) case was released, but this 18KYG (yellow gold) case is the least popular. The dial is a silver dial that is close to white, and it looks the most classical. Perhaps because of the small number of pieces, this is the only material that we do not handle, and it is a model that we would like to handle at all costs, and it is also our goal. (Laughs) As many of you may have already noticed, all materials in the "Ref. 5970" series are being offered at this auction, and we are very excited to see the results.

▶ Successful bid: CHF 207,900 (JPY 30,958,389)

Of the four materials (PT, 18KWG, 18KRG, 18KYG), this was the one I was most interested in, and ended up costing the same as the 18KRG (rose gold) version. If you have one, please feel free to contact us!

[Lot.19]
"Perpetual Calendar Chronograph" 18KYG
"Ref.2499"

Estimate: CHF 400,000 – 800,000
(JPY 59,564,000 – 119,128,000)

《 Explanation from the previous column 》
This is a watch with a very rare glossy black dial from the 3rd series of the "Ref. 2499", the second generation of the "Perpetual Calendar Chronograph". It is worth noting that the archives also clearly state that it is "NOIR (black)". It goes without saying that the original black dial is extremely rare, even though the "Ref. 2499" itself is almost never seen except at overseas watch auctions. We expect the winning bid to far exceed the estimated amount! We are looking forward to seeing the results.

▶ Successful bid: CHF 1,179,500 (JPY 175,639,345)

This watch, released in 1964, was released with a silver dial 30 years later, but the archives acquired in 1996 confirm that it was manufactured with a black dial. The archives acquired in May 1997 further confirm that it had a black dial with gold applied indexes . What this means is that between the time the first archive was acquired and the time the second archive was acquired, a "replacement black dial" likely manufactured in the 1980s was fitted to the watch.

There are about six "Ref. 2499" models with black dials, but the ones recorded in the archives as having black dials are very rare, and this one is the only one of its kind. Considering the rarity of this watch, the winning bid is reasonable, and I wonder how much the original black dial would have been worth if it still exists. It's very interesting.

[Lot.43]
"World Time Cloisonné" PT
"Ref.5131/1P-001"

Estimate: CHF 80,000 – 160,000
(JPY 11,912,800 – 23,825,600)

《 Explanation from the previous column 》
Based on the Ref.5130, the second generation of the modern World Time, the Ref.5131 features a cloisonné dial. All case materials (YG, RG, WG, PT) have different dials, and the PT (platinum) case and bracelet model was the last to be released in 2017. The dial features a world map seen from the North Pole, and although we have handled two of these in the past, it is a rare model that has hardly been in stock lately.

▶ Successful bid: CHF 151,200 (JPY 22,515,192)

We have been lucky enough to have two of these in our store, but there are very few of these models in circulation. Since production ended in 2021, we expect this model to become even more popular in the future.

[Lot.53]
"Perpetual Calendar Chronograph" PT
"Ref.3970E"

Estimate: CHF 80,000 – 160,000
(JPY 17,869,200 – 29,782,000)

《 Explanation from the previous column 》
This is the 2nd series of the "Ref.3970", the third generation of the "Perpetual Calendar Chronograph", and is a popular model with a screw-down case back, bar indexes, and leaf hands. It also features a hallmark engraved on the lug side, and the 2nd series was produced in small numbers, so it seems that many people are looking for it. There does not appear to be a warranty, but an archive is included, and from the images, the lugs are thick and sturdy, so the individual piece seems to be in good condition. Both the 1st and 2nd versions of the "Ref.3970" are very difficult to obtain.

▶ Successful bid: CHF 214,200 (JPY 31,896,522)

Judging from the pictures, the condition was good and I could feel its coolness through the screen, but I honestly didn't think the winning bid price would go up so much because it didn't come with a warranty. The 2nd series with PT (platinum) case is almost never available on the market, so it seems that models with Lemania-based movements will be extremely difficult to obtain in the future.

[Lot.54]
"Perpetual Calendar Chronograph" PT
"Ref.3970EP-027"

Estimate: CHF 100,000 – 150,000
(JPY 14,891,000 – 22,336,500)

《 Explanation from the previous column 》
Next up is the 4th series of the Ref.3970, the Ref.3970EP-027. It features a screw-down case back, pointed bar indexes, and baton hands, and comes with a replacement closed case back. By the way, the "E" in the reference stands for "waterproof." The PT (platinum) case x bar index x black dial was produced in small numbers, and is rarely seen on the market anymore. This is a watch that will be interesting to see in the future.

▶ Successful bid: CHF 163,800 (JPY 24,391,458)

Looking at the winning bid amount, it seems to be higher than before, but in my personal opinion, I thought it might go up a little more, so I think the person who won it at this price was lucky. This is also one model that I'm looking forward to seeing in the future.

[Lot.88]
"Minute Repeater Tourbillon Perpetual Calendar Retrograde" 18KYG
"Ref.5016J-011"

Estimate: CHF 250,000 – 500,000
(JPY 37,227,500 – 74,455,000)

《 Explanation from the previous column 》
Released in 1993, the Ref. 5016J-011 is said to have been produced in only 200 units by 2011. It is the most extraordinary model of Patek Philippe at the time, equipped with all the complicated mechanisms (minute repeater, tourbillon, perpetual calendar). The 36mm case diameter feels a little small, but it is thick and has a tremendous presence. The sound of the minute repeater is truly beautiful, and we have sold PT (platinum) and 18KRG (rose gold) versions, which are not only cool, but also have an incredible aura. The 18KYG (yellow gold) version creates a classical atmosphere and makes you feel like a real watch. The market price has been rising, so I am looking forward to the winning bid.

▶ Successful bid: CHF 529,200 (JPY 78,803,172)

Anyway, it's cool, elegant, and has an aura, and I think it's one of the flawless watches. About a year ago, we sold a model with an 18KRG (rose gold) case at Commit, and I'm happy for the customer who bought it at that time, as if it were my own decision. I'm very envious of the person who won this model at this price.

[Lot.112]
『Chronograph TIFFANY&CO.』PT
"Ref.5070P-001 "

Estimate: CHF 200,000 – 400,000 (JPY 29,782,000 – 59,564,000)

《 Explanation from the previous column 》
At the time of its release, the 42mm diameter of the two-counter chronograph "Ref. 5070" was considered a little large. Nowadays, the mainstream of watches is around 40mm, and coupled with the fact that it is equipped with a Lemania-based movement, it has become very popular. This PT (platinum) version was announced in 2008 and production ended the following year in 2009, so the total number of units was very small and the price was relatively high and stable. However, what is surprising is that this particular model is a double-name model with the letters "TIFFANY & CO." in the center of the dial! It also comes with a Patek Philippe warranty card with the "TIFFANY & CO." stamp on it, making it a very popular and rare model. It is a model that fans will be coveting, and we are looking forward to the winning bid price.

▶ Successful bid: CHF 378,000 (JPY 56,287,980)

In this auction, there were several "TIFFANY & CO." double-name models, and considering the current market conditions, I think they all sold for higher prices than expected. When the market is unstable, rare models are harder to get your hands on and are harder to sell, so I thought there was a strong tendency for their value to drop, but looking at the results here, that doesn't seem to be the case. This model was my favorite out of all the double-name models, and I think it sold for a high price as expected.

[Lot.153]
"Perpetual Calendar Chronograph" 18KRG
"Ref.1518 "

Estimate: CHF 800,000 – 1,600,000
(JPY 119,128,000 – 238,256,000)

《 Explanation from the previous column 》
The first model of the "Perpetual Calendar Chronograph" that appeared in the 1940s, "Ref. 1518". It is said that only 281 pieces were produced, and it is a dream model to see. Most of them are said to be 18KYG (yellow gold), and 18KRG (rose gold) is very rare, and every time it is put up for auction overseas, it records a high winning bid. The piece put up for auction this time is in very good condition with the enamel on the dial still intact, the hallmark clearly visible, and the edges of the case standing out. How high will the winning bid go? It is definitely one to watch.

▶ Successful bid: CHF 1,240,000 (JPY 184,648,400)

Looking at the winning bid, I thought it might go up a little more, but when you think about it calmly, it's an astonishing amount of nearly 200 million yen in Japanese yen. In an auction, if multiple people are competing for the same item, the winning bid often exceeds expectations. This time, the winning bid was at a price that would make the winning bidder feel lucky. I have been fortunate to have seen a few "Ref. 1518"s so far, but it is a divine model, and now it is only seen at overseas watch auctions. I look forward to the day when we can handle it in our store.

[Lot.171]
"Perpetual Calendar Chronograph" PT
"Ref.5971P "

Estimate: CHF 180,000 – 360,000
(JPY 26,803,800 – 53,607,600)

《 Explanation from the previous column 》
"Perpetual Calendar Chronograph" Ref. 5971P with fourth-generation PT (platinum) case and baguette diamond bezel. Usually it has a black dial, but this one has a white dial.
It doesn't seem to come with a warranty, but the archives clearly state that it has a white dial, so there's no doubt that it's a very rare model. We're also excited to see how much it will fetch.

▶ Successful bid: CHF 415,800 (JPY 61,916,778)

Apparently, the dial was replaced with a white one by Patek Philippe in 2011, but if you think about it, is this the only "Ref. 5971P" with such a special white dial in the world? Even if not, it is extremely rare. With that in mind, the winning bid price may be reasonable.

[Lot.187]
"Perpetual Calendar Split Second Chronograph" 18KYG
"Ref.5004J "

Estimate: CHF 120,000 – 240,000
(JPY 17,869,200 – 35,738,400)

《 Explanation from the previous column 》
The "Ref. 5004" is a perpetual calendar chronograph with a split second and a Lemania-based movement. Produced from 1994 to 2010, it is perfect in every way, with a large crown with a split button, thick and sturdy lugs, Arabic indexes, leaf hands, and sub-dial design. This watch comes with all the accessories, and was produced in 2010, which is almost the last year of its kind. It's so cool that it makes you sigh! I'm looking forward to seeing how much it will sell for.

▶ Successful bid: CHF 277,200 (JPY 41,277,852)

Due to the condition of the watch and the fact that it was the last year of production, the winning bid was over 40 million yen. This "Ref. 5004" is one of the models that I have been in love with since I first saw it, and I will always love it, so it was the one I was particularly interested in during this auction. If we are able to stock this watch in our store, we will definitely introduce it in "Patek Philippe Theory"!

summary

What did you think.

This time, there were several models equipped with Lemania-based movements that I was particularly interested in, so I picked out those models. I think the results of this auction have clarified the models that are currently in demand, so it is instructive to look at overseas watch auctions. There are still more auctions to come, so I will keep you updated.

see you!