Yasuharu Abe's Patek Philippe Theory - No. 39 - 2020/12/12 PHILLIPS Auction

Good evening everyone.

Today, December 12th (Saturday) was held in New York.

I would like to write about Patek Philippe watches based on the results of the PHILLIPS watch auction. As this was the last PHILLIPS watch auction of 2020, there were many models that were popular before the auction, highly collectible models, and watches from a period considered antique.

 *The price is the winning auction price plus a commission fee (26%).  
*The Japanese yen rate will be based on the exchange rate immediately prior to the auction.
 *USD = 105.01 yen
 *All images are from PHILLIPS.
 

Lot.3 Calatrava SS Ref.5565A-001

USD 40,320 (JPY 4,234,003)

The first model we will introduce is the "Ref. 5565A-001," a limited edition of 300 pieces released exclusively at the Geneva Salon in 2006 to commemorate the reopening of the Geneva Salon. The basic design of this watch is the "Ref. 565," a popular antique from Patek Philippe that is just the right size. The stainless steel case makes it a fitting commemorative model. It also comes with a warranty, box, and other accessories, making it a watch worthy of a collection.

Lot.8 Chronograph 18KWG Ref.5070G-001

USD 81,900 (JPY 86,00,319)

The second chronograph equipped with the last Lemania-based movement, the "Re.5070". Released in 1998 with a 18KYG (yellow gold) case and black dial, this model was a hot topic, not just for its size. This model has a 18KWG (white gold) case and silver dial, giving it a cool and stylish look. Compared to before, there are fewer of these on the market these days, and when they are put up for auction, the winning bids are stable.

Lot.9 Chronograph 18KWG Ref.5071G-001

USD 327,600 (JPY 34,401,276)

Based on the second chronograph "Re.5070" equipped with a Lemania-based movement, the "Ref.5071G-001" is an extremely rare model with 118 baguette-cut diamonds set on the bezel, case sides, lugs, and buckle, and 16 baguette-cut diamonds on the buckle. The case is made of 18KWG (white gold), and the black dial with diamonds set on the index is also a specification that is only available on the "Ref.5071". I have seen several in the past and knew that there were few of them, but I did not expect the winning bid to be so high.

Lot.10 Perpetual Calendar Minute Repeater 18KWG Ref.3974G-001

USD 1,022,200 (JPY 107,341,222)

The REf.3974 was released in 1989 to commemorate Patek Philippe's 150th anniversary.
This model was produced for 11 years, but it is said that only 11 pieces were produced in the 18KWG (white gold) case, the second lowest after the PT (platinum) case. It was also exhibited at the Geneva auction in November, where the PT (platinum) case was also exhibited at the PHILLIPS auction and sold for a high price. The winning bid is an astonishing price of over 100 million yen when converted into Japanese yen.

Lot.25 Minute Repeater Tourbillon Perpetual Calendar Platinum Ref.5016P-010

USD 478,800 (JPY 50,278,788)

The "Ref. 5016P-010" model is equipped with a perpetual calendar, tourbillon, and minute repeater, which are all complex mechanisms on their own. The perpetual calendar is retrograde, making it an even more complex movement. The combination of the Breguet hands on the overwhelmingly cool Breguet numerals dial, and the moon phase, as well as other classical elements, make for a perfect design. Although the winning bid amount itself was high, I think it is a reasonable price considering the market price. In the past, Commit has sold a combination of a PT (platinum) case and a black dial, and it is a watch that we would definitely like to handle again in the near future.

By the way, this time I was actually the underbidder and bid up to $350,000. (lol) However, it was returned at $380,000... I gave up because I couldn't offer it to customers any more...

Lot.56 Calatrava Pilot SS Ref.5522A-001

USD 47,880 (JPY 5,0278,878)

The special model "Ref. 5522A-001" was announced at the Watch Art Grand Exhibition New York 2017, limited to 600 pieces. It features a dial reminiscent of a vintage Patek Philippe Aviator, and has a large 42mm stainless steel case, which is rare for the Calatrava collection, with a strong classical and elegant image. The large Arabic numerals and wide blue steel baton hands are coated with luminous paint for excellent visibility in the dark. The combination of the military-style calf strap and steel buckle is, of course, my preference (lol).

Lot.60 Perpetual Calendar Moon Phase 18KYG Ref.3448

USD 529,200 (JPY 55,571,292)

The "Ref. 3448" model was released in 1962 and is said to be the world's first wristwatch equipped with an automatic movement and perpetual calendar. Just looking at the photos, you can see that the condition of the dial and case is very good. It also comes with the original warranty card, has an engraving on the back cover, and is a true auction piece, as it was given as a gift by the wife of a famous psychiatrist in the United States.

Lot.85 Nautilus Chronograph 18KWG Ref.5976G-001

USD 352,800 (JPY 37,047,528)

The "Ref. 5976G-001" was released in 2016 as a limited edition of 1,300 pieces to commemorate the 40th anniversary of the Nautilus. It is a chronograph model made of 18KWG (white gold) and featuring an unprecedented large 44mm case. Due to the popularity of the Nautilus and the fact that it is a "limited edition," it has become a watch that is easily valued at over 30 million yen on the market. As it was an unopened single-sealed watch, the winning bid was also quite high.

Lot.136 Perpetual Calendar Chronograph 18KYG Ref.2499

USD 378,000 (JPY 39,693,780)

This watch is the third series of the "Ref. 2499," the second generation of perpetual calendar chronographs. It is a highly rated model with stable winning prices at auctions. The solid lugs, which can be seen from the side of the case, are impressive. I would like to handle such a model someday.

Lot.137 Perpetual Calendar Chronograph 18KYG Ref.1518

USD 504,000 (JPY 52,925,040)

The Ref. 1518 was the first Patek Philippe watch to feature both a perpetual calendar and a chronograph. There are various theories, but it is said that 281 were produced between 1941 and 1954. The case diameter is 35mm, which is small today, but the combination of the applied Arabic indexes, leaf hands, tachymeter scale around the outer edge of the dial, a large crown that suits the case size, and square pushers gives it an indescribable presence. According to the archives, this watch was manufactured in 1946, and although the dial has some wear due to aging, it retains its originality, and the case is in good condition with the hallmark clearly visible.

summary

Based on the results of the PHILLIPS watch auction held in New York on Saturday, December 12th, these were the results for the Patek Philippe watches that caught my eye. What do you think?

This year's PHILLIPS auction saw many bids going well above their estimates, with a hand-wound Daytona Ref. 6263 owned by Paul Newman selling for USD 5,475,000 , and a HEUER Monaco Ref. 1133 given to Haig Alltounian by Steve McQueen selling for USD 2,208,000. It was a very interesting and worthwhile auction.

see you!