Yasuharu Abe's Patek Theory - No. 19 - 2020/07/11 Sotheby's Auction

hello everyone.

It's about time for the rainy season to end, but it looks like it's going to be delayed this year. I hope the warm weather comes soon, but the humid days just keep on coming... (laughs) However, I wonder if Japan's four seasons are starting to lose their rhythm these days? These days, I want to spend my time being grateful that I can experience the four seasons.

Continuing from last time, I will be talking about the auction that was held in Hong Kong on Sunday, July 11th. This is the second time I've written about Patek Philippe watches, based on the results of the Sotheby's watch auction. I'll be selecting and sharing with you watches that are more collectible than regular models, ones that are rarely seen on the market, and ones that are the talk of the town, so please stay with me until the end.

*The price is the winning auction price plus a commission fee (25%).

*The Japanese yen rate will be based on the exchange rate on the day of the auction.

*All images are taken from Sotheby's.

Lot.2033 Aquanaut Large 18KYG

Reference 5065J-001

Successful bid: HKD 325,000 (JPY 4,631,250)

This Aquanaut is one generation before the current model. It is a combination of a 38mm 18KYG (yellow gold) case, which is slightly smaller than the current model, and a tropical band. With the tropical band specification, the gold case is just right, including the weight.

Lot.2039 World Time Moon Phase 175th Anniversary Model 18KWG Limited to 1300 pieces worldwide

Reference 5575G-001

Successful bid: HKD 750,000 (JPY 10,687,500)

This Ref. 5575G-001 had a higher winning bid than the previous day's PHILLIPS auction. This watch, equipped with a moon phase world time display, was released to celebrate the 175th anniversary of Patek Philippe 's founding. Commit has previously sold three unused watches.

Lot.2048 Perpetual Calendar Chronosplit Platinum

Reference 5204P-011

Successful bid: HKD 1,562,500 (JPY 22,265,625)

This is a current model with a perpetual calendar and split seconds. The combination of a PT (platinum) case and a black dial is no longer in production. To be honest, I think the winning bid was reasonable. Nice buy for the buyer! (lol)

Lot.2052 Annual Calendar Moonfizz WEMPE 18KRG

Reference 5125R-001

Successful bid: HKD 300,000 (JPY 4,2475,000)

This is a model released by WEMPE, a leading German jewelry store founded in 1878, as a commemorative model for its 125th anniversary, which I have written about in a previous column. The production numbers are 100 units of PT (platinum), 125 units each of 18KRG (rose gold), 18KWG (white gold), and 18KYG (yellow gold). Looking at the catalog, there is no original warranty issued by WEMPE, and no additional closed case back, which seems to have kept the winning bid price down. For a limited edition model, it would be nice to have some solid accessories.

Lot.2055 Calatrava Travel Time GUBELIN 18KWG

Reference 5134G

Successful bid: HKD 175,000 (JPY 2,493,750)

Like the above, this model was released to commemorate the 150th anniversary of the prestigious Swiss jewelry store GUBELIN. The production numbers are 40 units of PT (platinum), 45 units each of 18KRG (rose gold) and 18KWG (white gold), and 50 units of 18KYG (yellow gold). The regular model of the same reference has a simple dial, so the difference is obvious at a glance! For those who want to own a model that is different from others, the winning bid price was reasonable and it is recommended.

Lot.2056 Nautilus Power Reserve S/S

Reference 3710/1A-001

Successful bid: HKD 437,500 (JPY 6,234,375)

When the "Ref. 3710/1A" was released, it had a jumbo size, a power reserve display on the dial, and Roman numerals on the indexes, and when it was released, it had a more innovative image than the regular Nautilus, but now there are only a few of them on the market, and I think it is a very good watch. Many people are looking for it.

Lot.2062 Pagoda Platinum

Reference 5500P

Successful bid: HKD 212,500 (JPY 3,028,125)

The Ref. 5500 "Pagoda" was sold in limited quantities to commemorate the opening of Patek Philippe's new headquarters in 1997. This is a reproduction of the Ref. 2441, affectionately known as the "Eiffel Tower," and is considered very beautiful. Only 150 PT (platinum) cases were produced. I feel that the auction price is now more affordable than before. The previous Lot. 2061 "Pagoda" with an 18KRG (rose gold) case has also been sold at Commit.

Lot.2068 Chronograph 18KWG

Reference 5070G-001

Successful bid: HKD 562,500 (JPY 8,015,625)

This popular second chronograph is equipped with a Lemania-based movement and has a 42mm case, which was somewhat large at the time of its release. The last one to be released, with a PT (platinum) case and blue dial, is particularly popular and has a market price of over 20 million yen. It is becoming less and less common on the market these days, and I think many people are looking for this model regardless of the material. This is a watch that we at Commit would love to carry.

Lot.2257 World Time Cloisonné 18KYG

Reference 5131J-001

Successful bid: HKD 625,000 (JPY 8,906,250)

The first modern version of the World Time Cloisonné is the "Ref. 5131J". The 18KYG (yellow gold) case features a color scheme that is somewhat reminiscent of antiques, making it a modern, beautiful, and highly finished watch. The price at which it was sold was a great deal, and it was a great deal! Both the Lot. 2258 18KWG (white gold) case and the Lot. 2259 18KRG (rose gold) case were sold for HKD 937,500 (JPY 13,359,375), but I think the difference in the sales results was due to the fact that they were in their original factory sealed condition.

Lot.2285 Calatrava S/S

Reference 5565A-001

Successful bid: HKD 275,000 (JPY 3,918,750)

This model was sold in a limited edition of 300 pieces to celebrate the reopening of the Geneva Salon in 2006. It pays homage to the antique Calatrava Ref. 565. There are few stainless steel Patek Philippe models other than sports models, and even now, nearly 15 years later, this model still retains a certain value.

Lot.2290 Perpetual Calendar Chronosplit Platinum

Reference 5004P-021

Successful bid: HKD 2,125,000 (JPY 30,281,250)

Perpetual calendar chrono split "Ref. 5004" equipped with a Lemania-based movement. It is a high-year model made in 2007, and the overall condition seems to be good. Although it has a small 37mm case, it exudes an overwhelming aura, and I feel that the price has been gradually rising again recently.

Lot.2296 Minute Repeater Platinum

Reference 5078P-010

Successful bid: HKD 2,250,000 (JPY 32,062,500)

If you have heard it, you will know that the tone of the Patek Philippe minute repeater is in a class of its own and even moving. This is a PT (platinum) case with a black lacquer dial. Commit has also sold three "Ref. 5078P-001" watches with beautiful white enamel dials. We would love to carry this model as well.

Lot.2308 Perpetual Calendar Chronograph Platinum

Reference 5271P-001

Successful bid: HKD 1,500,000 (JPY 21,375,000)

This is a current model of a platinum perpetual calendar chronograph with baguette-cut diamonds set in the indexes, bezel, lugs, and buckle. When you see it in person, you can feel an incredible aura about it. This was also a winning bid price that made me think, "Great deal, cheap!"

summary

This time, many Patek Philippe watches were on offer, but I changed my perspective a little from last time and introduced models that caught my eye. I felt that many of the winning bids were "good price = good deal!" Also, limited models are only available at auctions, and one of the great things about auctions is that you can understand the needs of the time.

This series will be long, but I am very disappointed that I couldn't participate this time, so please let me write again next time!! (lol) Next time, I would like to talk about the results of Christie's, as the third part of the Hong Kong auction.

I hope this article will help you become more familiar with and enjoy auctions a little more.

see you.