Yasuharu Abe's Patek Theory - 20th Edition - 2020/07/13 CHRISTIE'S Auction

hello everyone.

The other day, although it is unclear whether this is true or not, information was circulating on an overseas watch information site that "ROLEX" will be releasing a new product in September. This year, "Baselworld", which has been held for over 100 years, was canceled, and ROLEX and Patek Philippe announced that they would not participate. I strongly feel that the coronavirus has triggered new movements in the watch industry.

Following on from the previous two articles, I will be talking about the auction that took place in Hong Kong on Monday, July 13th. This is the third article, and I will be writing about Patek Philippe watches based on the results of the watch auction at Christie's . I will be selecting and sharing with you watches that are more collectible than regular models, watches that are rarely seen on the market, and watches 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 Christie's.

Lot.2408 Tonneau Jumping Hour 18KRG

Reference 3969

Successful bid: HKD 200,000 (JPY 2,842,000)
In 1989, to commemorate the 150th anniversary of Patek Philippe's founding, this watch was released in a limited edition of 450 pieces in RG (rose gold) and 50 pieces in PT (platinum). It is said to be inspired by the original model from Patek Philippe in the 1920s. I think it was priced a little higher at one time, depending on the size and current demand.

Lot.2412 Celestial Platinum

Reference 6102P-001

Successful bid: HKD 1,625,000 (JPY 23,091,250)

The Celestial is equipped with a star chart that reproduces the movement of the sky. Is a star chart really necessary for a watch? (laughs) I think it is a very beautiful watch that is a perfect collection piece. Considering the current domestic list price, I think the winning bid price is relatively reasonable.

Lot.2422 10 Days Tourbillon Platinum

Reference 5101P-001

Successful bid: HKD 1,125,000 (JPY 15,986,250)

Released in 2003, the 10 Days Tourbillon "Ref. 5101P" is equipped with a tourbillon and a 10-day long power reserve. It is a cool watch with a good size and powerful presence. Considering that the domestic list price before the end of production was nearly 40 million yen, I think this is a reasonable price.

Lot.2429 Perpetual Calendar Chronograph 18KYG

Reference 3970E

Successful bid: HKD 562,500 (JPY 7,993,125)

The second generation of the perpetual calendar chronograph "Ref.3970", the "Ref.3970E" features baton-shaped indexes and leaf-shaped hands. The case is a closed screw-back case. As you can see from the pictures, the lugs are thick and sturdy, and it is in very good condition. It also comes with plenty of accessories, so it's a recommended piece for your collection. I want it! (lol)

Lot.2431 Perpetual calendar chronograph 18KYG

Reference 5970J-001

Successful bid: HKD 1,000,000 (JPY 14,210,000)

The popular perpetual calendar chronograph "Ref.5970" in an 18KYG (yellow gold) case. The "Ref.5970J" is the one with the fewest number of beads out of the "5970" series, as it was released only a short time before production ended. I think one of the features of the "Ref.5970J" is that it has a good old-fashioned feel to it.

Lot.2432 Perpetual Calendar Chronograph 18KRG

Reference 5270R-001

Successful bid: HKD 750,000 (JPY 10,657,500)

The current model perpetual calendar chronograph "Ref. 5270" was released in 2015 and features a RG (rose gold) case, silver dial and leather strap. Looking at the winning bid price, this one was also reasonably priced.

Lot.2433 Split-Second Chronograph Platinum

Reference 5370P-001

Successful bid: HKD 1,375,000 (JPY 19,538,750)

The new split-second chronograph, released in 2016, is a very cool model with a 41mm platinum case, black enamel dial and Breguet numerals. The winning bid price is a bargain!

Lot.2434 Perpetual Calendar Chronosplit Platinum

Reference 5204P-001

Successful bid: HKD 1,687,500 (JPY 23,979,375)

This is a current model with a perpetual calendar and split seconds. The combination of a PT (platinum) case and a soft silver dial gives it the elegance that is characteristic of Patek Philippe. This is the first model of the "Ref. 5204" released in 2012, and production has already ended. This model has a track record of being sold at Commit. I think the winning bid for this model was also very reasonable.

Lot.2439 Nautilus Medium S/S

Reference 5800/1A-001

Successful bid: HKD 625,000 (JPY 8,881,250)

The "Ref. 5800/1A" was manufactured in 2005 ahead of the 30th anniversary of the Nautilus. Its production period was short and the number of pieces was small, so its price has risen to a level that could not have been predicted at the time. It features a two-piece case structure, a see-through back cover, and a non-screw-down crown. It is a rare piece that is hard to find.

Lot.2445 Aquanaut Advanced Research 18KWG

Reference 5650G-001

Successful bid: HKD 1,875,000 (JPY 26,643,750)

The Aquanaut Advanced Research, released in a limited edition of 500 pieces worldwide to commemorate the 20th anniversary of the birth of the Aquanaut, is a watch with an 18KWG (white gold) case, a blue gradation dial, and a beautiful openwork travel time mechanism at the 9 o'clock position. The selling price on the market is stable and high, but the winning bid price was higher than I expected.

Lot.2449 Annual Calendar Advanced Research Platinum

Reference 5450P-001

Successful bid: HKD 525,000 (JPY 7,460,250)

The "Ref. 5450P" was released in 2008 as the final model of the Annual Calendar Advanced Research, with a PT (platinum) case and salmon dial, limited to 300 pieces. It is a highly collectible watch, so I think it's good that it is in unused condition. The salmon dial of [Patek Philippe] creates an indescribable atmosphere.

Lot.2451 Perpetual Calendar Chronograph 18KRG

Reference 5970R-001

Successful bid: HKD 1,125,000 (JPY 15,986,250)

The popular perpetual calendar chronograph "Ref. 5970" has an 18KRG (rose gold) case and a slightly warm silver dial. Considering the condition of the original factory shield, which is highly collectible, I think this was also a reasonable winning bid.

Lot.2454 World Time Cloisonné 18KRG

Reference 5131R-001

Successful bid: HKD 1,187,500 (JPY 16,874,375)

This model has been sold in the past at Commit Ginza as a sealed item (unopened plastic) and as a used, mint condition item. The cloisonné dial is very beautiful and you can see the Japanese design, so it's a watch I really like. This time, the sleeve-like outer box that came with the watch was unopened (commonly known as double-sealed), so I think the winning bid was highly valued.

Lot.2490 Perpetual Calendar Chronograph 18KYG

Reference 2499

Successful bid: HKD 2,750,000 (JPY 39,077,500)

This is the third generation model of the "Ref. 2499" that was announced in 1950 as the successor to the perpetual calendar "Ref. 1518" and was manufactured until 1985. It has a simple appearance and is one of the most commonly seen "Ref. 2499" models, but it is also very popular and always sells for a stable price at auctions.

Lot.2504 Sky Moon Tourbillon Platinum

Reference 5002P-001

Successful bid: HKD 9,665,000 (JPY 137,339,650)

The "Ref.5002" model is the most complicated wristwatch ever made by Patek Philippe , and it is the first double-faced watch. In addition to showing the time, it shows the constellations of the Northern Hemisphere and the lunar orbit. It is packed with rare and amazing complications, including a minute repeater, tourbillon, and perpetual calendar. It may sound flippant, but it's an impossible watch with all the toppings on it! (laughs) Of course, Patek Philippe only produces a few watches a year, so it's a watch that you'll only see at auctions. As expected! It's no surprise that the winning bid exceeds 100 million yen in Japanese yen. I think it's a watch worthy of being the final watch of the Hong Kong watch auction.

summary

Over the course of three posts, we have focused on Patek Philippe at the watch auctions held in Hong Kong by Phillips, Sotheby's, and Christie's. We hope you enjoyed the article.

With the impact of the coronavirus, it is no exaggeration to say that the global auction will determine the future of the watch industry. This time, the winning bid prices have reaffirmed that they reflect the current market trends and needs. Of course, there were some watches that were sold at bargain prices, but overall, I think the results were strong and gave a sense of momentum.

The most important thing is supply and demand. Discontinued models are generally never produced again. Vintage and antique watches contain such elements, and we can say that they have great potential for the future.

There are also models whose popularity and prices explode due to trends, such as the Nautilus from Patek Philippe , which has been incredibly popular recently.

The appeal of watches is limitless. They can be appreciated as assets and enjoyed as accessories. They are industrial products, but they are not, and they are truly profound.

This has gotten a little long, but next I would like to write about the auction that will be held in the fall. Please look forward to it until autumn.