[2022 Edition] PHILLIPS "The Hong Kong Watch Auction: XIV" Auction Results - Hong Kong 27 & 28 May, 2022 -

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Hello everyone.

This time, we would like to introduce the top 10 models with the largest difference (increase rate) between the expected and actual winning bid prices from the results of PHILLIPS ' "The Hong Kong Watch Auction: XIV" held on May 27th and 28th, 2022, in a ranking format. Which models made it into the list? Please enjoy until the end!

*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.
*HKD (Hong Kong dollar) = 16.61 yen
*All images are from PHILLIPS

[※About the terms used in the text]
*LOT: A number given to items auctioned. The auction will be conducted in the order of the lot numbers.
*Estimate: The expected winning bid price estimated by each auction company.

Exceeded expected bid price! TOP 10 ranking

10th place ■LOT.995
 [FP Journe]
Octa Zodiaque

Point
FP Journe's platinum Octa Zodiac was produced in a limited edition of 150 pieces worldwide from 2004 to 2007. Zodiac refers to the constellations, and the 12 constellations (the 12 zodiacal signs) displayed on the outer periphery of the dial are eye-catching. The movement is the Cal.1300-1, which took three years of research and two years of development, and features a rose gold rotor on a rhodium-finished brass base. In addition to its long 120-hour reserve, the beautiful color contrast and the precious movement are also factors that earned it the highest praise.

Estimate: HKD 235,000 – 390,000
SOLD： HKD 1,512,000(JPY 25,114,320 )
Increase: 388%

[Source] Philips

9th place ■LOT.939
 [Patek Philippe]
『Perpetual Calendar』「Ref.3940」

Point
The Ref. 3940 is also worn by Philippe Stern, the current president of Patek Philippe. It is said that about 7,000 were produced over the 20 years from 1985 to around 2007. The model being offered this time was produced in a limited run of 25 pieces to celebrate the 225th anniversary of Bayer Chronométrie, a watch and jewelry store in Zurich known as the oldest watch store in Switzerland, founded in 1760. Most Ref. 3940s have silver dials, so this champagne dial is extremely rare, making it a true auction piece.

Estimate: HKD 320,000 – 470,000
SOLD: HKD 1,890,000 (JPY 31,392,900)
Increase: 402%

[Source] Philips

8th Place ■LOT.1056
 [Rolex]
『GMT-Master II “Chuck Yeager”』「Ref.16710」

Point
The GMT-Master II Ref. 16710 was released in 1997 to commemorate the 50th anniversary of the supersonic flight of Chuck Yeager, the US Air Force pilot who is said to have been the first person in the world to fly a fighter jet faster than the sound barrier. It is a double-name model planned by the Japanese military fashion brand The Real McCoy's. This particular watch was sold at a high price because it was serial number 1 (1/50), had all the accessories, and was unused.
[Breakdown of the first model released in 1997 (U-number only)]
- GMT Master Ref. 16700 (50 pieces/black bezel only)
- GMT Master II Ref. 16710 (50 pieces/red and black bezel only)
[Breakdown of 2nd model released in 1999 (A and P models only)]
- GMT Master Ref. 16700 (150 pieces/black & red and blue bezel)
- GMT Master II Ref. 16710 (150 pieces/red and black bezel only)

Estimate: HKD 160,000 – 240,000
SOLD: HKD 1,008,000 (JPY 16,742,880)
Increase: 420%

[Source] Philips

7th place ■LOT.905
 [Universal]
『Compax “Nina Rindt”』「Ref.885105/02」

Point
Universal Genève was founded in 1894 in Le Locle, Switzerland by Emile Decome and Georges Perret. The brand produced many highly practical chronographs, responding to the needs of high-ranking officers and people working in aviation and medicine during the war. This model is also known as "Nina Rindt" because it was used by Nina Rindt, the wife of F1 driver Jochen Rindt. As vintage Rolex fans will know, it is also famous for being equipped with the Cal. 85, which is based on the Cal. Valjoux 72 movement, which is also installed in the hand-wound Daytona. The bezel with the "PULSATIONS" marking, not the "TACHYMETRE" marking, existed for a short period from 1966 to 1967 , and it is said that less than 200 were produced.

Estimate: HKD 55,000 – 95,000
SOLD： HKD 403,200(JPY 6,697,152)
Increase: 424%

[Source] Philips

5th Place ■LOT.1081
 [Konstantin Chaykin]
"Clown II Audacity"

Point
This is the Crown II, released by a brand owned by Konstantin Chaykin, Russia's first independent watchmaker. He is a member of the AHCI "Academie Horlogere Des Createurs Independants (International Association of Independent Watchmakers)", commonly known as the "Academy", and is known for creating original watches. The Crown, which was announced at Baselworld in 2017, is a watch designed under the influence of the novelist Stephen King. This is the Crown II, released in 2020 in a limited edition of 88 pieces, and its original design is astonishing.

Estimate: HKD 50,000 – 80,000
SOLD： HKD 352,800(JPY 5,860,008)
Increase: 441%

[Source] Philips

5th place ■LOT.899
 [Gérald Genta]
『Retro “Mickey Mouse”』「Ref.G3632」

Point
Gerald Genta has acquired the rights to use Walt Disney characters and released a number of "Retro Fantasy" series. This model has a golf and Mickey Mouse motif, with the display window at 4 o'clock on the dial showing the hours, and Mickey's golf club showing the minutes. When it reaches 60 minutes, the character swings his arm and returns to the "0" position. The automatic movement also features the complex functions of "retrograde" and "jumping hour," and the "retrograde" display is subtly made of white shell. This timepiece is a perfect blend of high-quality materials, advanced technology, and playfulness.

Estimate: HKD 24,000 – 40,000
SOLD： HKD 176,400(JPY 2,930,004)
Increase: 441%

[Source] Philips

4th place: LOT.903
 [Patek Philippe]
『Aquanaut “Japan”』「Ref.5066A-010」

Point
The popular luxury sports model "Aquanaut" was released in 1997. This is a Japan-limited model with a blue dial released around 1998, limited to 500 pieces. By the way, Patek Philippe rarely releases limited models focused on a country. The only "Aquanaut" is the "Ref. 5167A-012" released at the "Watch Art Grand Exhibition Singapore 2019" with a limited edition of 500 pieces in Singapore. There is now a blue dial "Aquanaut" called "Ref. 5168G-001", but it is made of white gold, which is different from the stainless steel Japan-limited model, and is thought to have been rare and expensive.

Estimate: HKD 160,000 – 250,000
SOLD: HKD 1,134,000 (JPY 18,835,740)
Increase: 454%

[Source] Philips

3rd Place: LOT.838
 [Rolex]
『Oyster Perpetual 41 “Tiffany Blue”』「Ref.124300」

Point
The high price sold at Christie 's for the Rolex Oyster Perpetual Ref. 124300 is still fresh in our memory. This model features a simple design and a refreshing turquoise dial. Although the estimate was set low this time, it was sold for close to the actual market price, so it may be recognized as a model with a promising future. Even so, various brands are announcing turquoise-colored models, and it is interesting to wonder how long this boom will last.

Estimate: HKD 40,000 – 60,000
SOLD： HKD 302,400(JPY 5,022,864)
Increase: 504%

[Source] Philips

2nd Place: LOT.1014
 [Lang & Heyne]
『Georg “Enamel”』

Point
Lang & Heine, based in Dresden, Germany, was founded in 2001 by Marco Lang, the fifth generation of a family of watchmakers, and Mirko Heine, an apprentice at Lange & Söhne. The watch up for auction this time is the brand's first rectangular model, the Georg. The Cal. VIII movement is a special square movement, and its greatest appeal is its beautiful shape, typical of German watches. Due to the amount of work involved, it is said that only 50 to 70 pieces are produced per year, and this is a rare model with an enamel dial and platinum case.

Estimate: HKD 64,000 – 94,000
SOLD: HKD 504,000 (JPY 8,371,440)
Increase: 536%

[Source] Philips

1st Place ■LOT.1118
 [Ressence]
『Type 1S HOD』

Point
Ressence was founded in 2010 by industrial designer Penoy Mintiens from Antwerp, Belgium, with the goal of creating the ideal watch. The brand name is a combination of Renaissance and Essence. Ressence watches are characterized by their smooth, rounded silhouette, the absence of a crown or brand logo, the inclusion of a mechanical movement, and the regulator display, in which the hour, minute, second, and AM/PM hands rotate and move independently. This is the second model, released in 2021 in collaboration with Hodinkee, limited to 20 pieces, and features a unique design with a skeletonized dial.

Estimate: HKD 20,000 – 40,000
SOLD： HKD 226,800(JPY 3,767,148)
Increase: 567%

[Source] Philips

summary

What did you think.

Looking at the results of this auction, it seemed that models with high estimates based on popularity and attention were sold as expected. Also, it seems that condition and accessories were also important, which has been a recent trend. I think that the models that made the list were emerging brands and models that were attracting attention due to expectations of future growth, but there were also some brands whose names you may have never heard of before.

In addition, Commit Ginza store owner Abe will be discussing the Patek Philippe in his "Patek Philippe Theory" at the PHILLIPS "The Hong Kong Watch Auction: XIV" We also explain Patek Philippe, which we found interesting, so please take a look at that as well.

See you soon!

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