Good evening everyone.
This time, I will be writing something different from usual and about the PHILLIPS watch auction that was held in New York on Saturday, December 11th.
We have suddenly decided to exhibit the Nautilus, which celebrates the 170th anniversary of the long partnership between Tiffany & Co. and Patek Philippe, but was not included in the catalog when it was created, and we would like to focus on it. It has already been reported in various media and has become a hot topic, so some of you may already know about it, but please enjoy until the end.
*Patek Philippe Theory is updated every Monday. This time, the auction result is already known, but since this article is written before the auction, the estimated winning bid amount is stated in the text, but it has not been revised after the fact.
*All photos of "Ref.5711/1A-018" are referenced from PHILLIPS.
The History of Patek Philippe and Tiffany & Co.
First of all, I would like to briefly review the history of Tiffany & Co. and Patek Philippe. *I have written about this many times before, so if you have already read it, please skip this part.
Tiffany & Co. is the oldest company selling Patek Philippe watches in the United States.
From 1851 to the present, Patek Philippe watches have been sold in a limited number of Tiffany & Co. boutiques across the United States, and watches with the Tiffany & Co. logo subtly printed on the dial are now traded at a premium price, are highly recognized, and attract a lot of attention.
They have released several limited edition models in the past, including the commemorative model "T150 Ref. 5150" that celebrated the 150th anniversary of their partnership in 2001. Equipped with an annual calendar in a hunter case, it was sold in three materials: WG (white gold), RG (rose gold), and YG (yellow gold), with 150 pieces of each.
※T150 Ref.5150G
When I first saw this watch, I remember being shocked by its innovative design, wondering if it was a Patek Philippe model or a Tiffany & Co. model. Until recently, it was sometimes available on the market, but now it is rarely seen.
Seven years later, in 2008, the first Patek Philippe Salon in the United States opened in the Tiffany & Co. flagship store on New York's 5th Avenue. In 2013, to commemorate the fifth anniversary, a special edition of the annual calendar model "Ref. 5396G" by Tiffany & Co. was released in a limited run of 100 pieces.
*Ref.5396G・TIFFANY&CO.
When I saw this model, my impression was, "It's so cool! I want it!" (laughs) There are only 100 pieces available. Not only when it was first released, but nowadays you can only see it occasionally at overseas auctions.
I could go on and on about this, so let's get to the point.
Lot.1T
Nautilus TIFFANY & CO. SS
Reference 5711/1A-018
Before I start, the lot number is "1T" ... it feels really special. (laughs)
About a week before the event, the Nautilus Ref. 5711/1A-018 was suddenly announced for sale.
The basic specifications seem to be the same as the previous SS (stainless steel) model.
The case diameter is 40mm, and the movement is "Cal.26-330 SC" with hacking function and no date change prohibited time zone.
This double-name model is a fitting celebration of the long and successful partnership between Tiffany & Co. and Patek Philippe. It is based on the Ref. 5711/1A, a stainless steel case, automatic, three-hand model that is arguably the most popular of the Nautilus models, and can be considered a luxurious collaboration model that marks the finale of the Ref. 5711/1A series.
Only 170 pieces will be available, and they will only be sold at TIFFANY & CO. boutiques in New York, Beverly Hills, and San Francisco.
It seems that leaked information spread at the same time as the listing was announced by PHILLIPS, and it is said that this is probably the first one.
The bright "Tiffany Blue" lacquer dial makes it immediately obvious that this is a Tiffany & Co. double-brand model. The Tiffany & Co. logo is placed at the 6 o'clock position. When I first saw it, I thought it was unfair (lol).
The skeleton screw-back glass is printed with "170th ANNIVERSARY" on the top, "1851 - 2021" in the center, and "TIFFANY & CO - PATEK PHILIPPE" at the bottom, making it a special piece down to the smallest details.
My predicted winning bid is exactly 250 million yen !
What will the results be?
result
... $6,503,500
... About 737.5 million yen in Japanese yen
*USD = 113.40 yen
Yes. It's a consolation prize (laughs).
summary
I hope you enjoyed it.
This was the first time I've attempted to predict the winning bid amount before the auction took place, so I personally had a lot of fun writing it (laughs).
This time, the shocking model released by Patek Philippe, which has a long history with Tiffany & Co., has sent shockwaves through the watch industry, and it is no exaggeration to say that it is the biggest model released this year.
I think there are many people out there who are itching to talk to someone, so if that happens, please come to Commit and call me.
We will continue to strive to provide information on world auctions in an easy-to-understand manner here on Patek Theory. There is not much time left this year, so please stay with us until the end.
see you!