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Good evening everyone.
This time, May 28th (Wed) to 29th (Thu) Christie's held in Hong Kong I will be sharing the results of the watch auction for "】" ! Unfortunately, I was not able to attend the auction, but several of our staff members did visit the auction and even attended the auction preview. Let's take a look at the results, taking into account what we heard and saw!
*The price includes the commission (26%) paid by the auction company.
*The Japanese yen rate will be based on the most recent exchange rate at the time of the auction.
*HKD (Hong Kong dollar) = 18.36 yen
*All images are from Christie's
Lot.2237
『Chronograph』
"Ref.5170P-001" PT
Estimate: HKD 320,000 – 650,000
(JPY 5,875,200 – 11,934,000)
Sold for HKD 604,800 (JPY 11,104,128)
The "Chronograph" "Ref. 5170P-001" was announced as a new model for 2017 and is equipped with the entirely in-house developed and manufactured hand-wound movement "Cal. CH 29-535 PS."
With its PT (platinum) case, gradient blue dial, and indexes set with baguette-cut diamonds, this model has a gorgeous feel and is truly worthy of being the final model in the "Ref. 5170" series. The production period was short, with production ending just two years after its release in 2017, so many people are searching for it, and it is a popular model that sells relatively quickly when it arrives in our store.
Lot.2241
"World Time Cloisonné"
"Ref.5231J-001" 18KYG
Estimate: HKD 550,000 – 1,100,000
(JPY 10,098,000 – 20,196,000)
Sold for HKD 630,000 (JPY 11,566,800)
The "World Time Cloisonné" "Ref. 5231J-001" was released in 2019, based on the "Ref. 5230," the third generation of the modern "World Time," and features cloisonné enamel in the center of the subdial.
Compared to the previous "World Time", the crown has been removed and the shape of the bezel and lugs has been changed, giving it a more classic impression and a design reminiscent of the masterpiece "Ref. 2523-1". In the center of the dial, as with "Ref. 5131J-001", you can see Europe, Africa, and the Americas, centered around the Atlantic Ocean, painted in beautiful cloisonné enamel. This model is also said to have the most beautiful colors in the "World Time Cloisonné" series.
Lot.2248
"Perpetual Calendar Chronosplit"
"Ref.5004P-021" PT
Estimate: HKD 1,600,000 – 3,200,000
(JPY 29,376,000 – 58,752,000)
Sold for HKD 2,394,000 (JPY 43,953,840)
The "Ref. 5004P-021" was also exhibited at the 2025 PHILLIPPS Hong Kong auction.
This watch has a pin buckle rather than a folding buckle and does not come with a closed back, but the warranty date is 2008, so it was sold relatively late, and I think the winning bid price increased accordingly. For everyday use, I recommend a later model, and while many people are looking for a "Ref. 5004" with a black dial in a PT (platinum) case, I think a silver dial has the advantage in terms of visibility.
Lot.2322
"World Time Moon Phase"
"Ref.5575G-001" 18KWG
Estimate: HKD 500,000 – 1,000,000
(JPY 9,180,000 – 18,360,000)
Sold for HKD 945,000 (JPY 17,350,200)
In 2014, to commemorate the 175th anniversary of the founding of Patek Philippe, the "World Time Moon Phase" "Ref. 5575G-001" was released in a limited edition of 1,300 pieces worldwide.
This complicated world time watch has a highly accurate moon phase, and the central sub-dial features a starry sky with a large beautiful moon, creating a design that is completely different from conventional moon phases, as if you were looking at a real moon. The hour hand has a Southern Cross motif, and the city name on the outer periphery has been changed from "PARIS" to "GENEVA", which are unique to this limited edition model. Considering that it was a "single shield", I think the winning bid was reasonable.
Lot.2332
『Chronograph』
"Ref.5070P-001" PT
Estimate: HKD 900,000 – 1,800,000
(JPY 16,524,000 – 33,048,000)
Sold for HKD 1,197,000 (JPY 21,976,920)
The "Ref. 5070P-001" was released in 2008, marking the 10th anniversary of the birth of the "Ref. 5070" series.
With its impressive 42mm case, stepped bezel, and bold lugs, it is beautiful from any angle, and even now, 15 years after its release, it continues to fascinate many people. It was released with a vivid blue dial with a hint of purple and a platinum case, but production ended after only a year, so it is a model that has been very rare on the market since then. In addition, the chronograph hand, sub-dial, and tachymeter scale are painted in white, making it highly legible. Considering that it was a "single shield," I think it was a very reasonable winning bid.
Lot.2342
"Perpetual Calendar Chronograph"
"Ref.3970EP" PT
Estimate: HKD 900,000 – 1,800,000
(JPY 16,524,000 – 33,048,000)
Sold for HKD 3,276,000 (JPY 60,147,360)
The "Ref.3970EP" is a perpetual calendar chronograph that is the second generation of the "Ref.3970".
The case back is screwed down, and the second-generation model features leaf-shaped hour and minute hands, but since this is an early production model, it has a solid case back that hides the movement. Another key feature is the hallmark engraved on the side of the lug. This watch also comes with the original warranty, as well as a box appropriate for the era, and an additional dial with diamonds set in the indexes.
Lot.2343
"Perpetual Calendar Chronograph"
"Ref.5970P-001" PT
Estimate: HKD 1,200,000 – 2,000,000
(JPY 22,032,000 – 36,720,000)
Sold for HKD 2,016,000 (JPY 37,013,760)
The "Ref. 5970" was released at Baselworld in 2004 with 18KWG and 18KRG cases.
This is the successor to the third-generation "Perpetual Calendar Chronograph" "Ref. 3970" that was manufactured from 1986 to around 2004, and the layout of the calendar, sub-dials, and moon phase on the dial, as well as the balance of the tachymeter scale written on the outer circumference of the dial, are all perfectly finished. Among them, the PT (platinum) case is the only one with a black dial, so white is used for each part on the dial. In addition, the date display on the outer circumference of the moon phase at the 6 o'clock position has clearly larger numbers than other materials, and is also highly visible. Since the production period was only about two years, it is likely to become even more highly rated in the future.
Lot.2346
"Perpetual Calendar Chronosplit"
"Ref.5204P-010" PT
Estimate: HKD 1,000,000 – 2,000,000
(JPY 18,360,000 – 36,720,000)
Sold for HKD 1,575,000 (JPY 28,917,000)
The "Ref. 5204P-001" was released in 2012 and is equipped with the hand-wound movement "Cal. CHR 29-535 PS Q," which is equipped with a new horizontal clutch split-second hand chronograph mechanism that was completely developed and manufactured in-house.
This model is a minor change model of the first model "Ref.5204P-001". The color of the "Ref.5204" silver dial, the border of the index, and the color of the hour and minute hands are all silver, giving it a high-class feel, good visibility, and excellent functionality, making it highly practical. The current model of "Ref.5204" only has an 18KWG (white gold) case, so the PT (platinum) case is likely to become more popular in the future.
Lot.2348
"Minute Repeater Tourbillon Perpetual Calendar Retrograde"
"Ref.5016P-018" PT
Estimate: HKD 3,000,000 – 6,000,000
(JPY 55,080,000 – 110,160,000 )
Sold for HKD 5,207,000 (JPY 95,600,520)
The "Ref. 5016P-018" is a "transcendent" model packed with complex mechanisms such as a "perpetual calendar," "tourbillon," "minute repeater," and "retrograde."
Although the number of production is already limited, the combination of a platinum case, black dial, and applied Breguet numerals and Breguet hands is particularly popular and extremely rare on the market. We have previously handled only one of these watches in our shop, and despite being a high-priced model, we have received multiple back orders. The winning bid was well over 100 million yen!! It was a shocking, but understandable price.
summary
What did you think?
There were many other Patek Philippe watches on display, but I picked out and introduced the models that caught my eye, including the results.
Being able to see so many rare pieces all at once like these is one of the best parts of overseas auctions. Next time, I'll definitely participate and bid on a model I'm interested in, and win it!
Our store also carries a large selection of rare models that rival those found at auction houses, so we look forward to your visit!
See you next time!
