Patek Philippe 175

Geneva – On 9 November, Christie’s Geneva esteemed evening auction, Patek Philippe 175, realised a total of SFr. 19,367,000/$19,731,099, selling 98% by lot and establishing 9 new world auction records, after a 3 hour bidding battle for the majority of the lots. The average price paid for any of the lots tonight reached nearly SFr. 200,000.This themed auction of 100 wrist and pocket watches offered only the most important and historic examples to illustrate the breadth of the world’s foremost watchmaker, Patek Philippe, upon their 175th anniversary. 

Thomas Perazzi, Senior Specialist of the watch department, selling the top lot of the evening, the ref. 2499 pink gold 
for SFr. 2,629,000

All 125 seats in the sale room were already reserved 48 hours ahead of the auction and over 300 collectors and watch enthusiasts attended the event. The highest total of registrants for any watch sale ever at Christie’s was achieved when 320 clients registered for bidding from across the world. The sale attracted interest from a total of 30 countries. 
The top lot of the evening was a pink gold Reference 2499 First Series, which sold for SFr. 2,629,000 / US$2,678,425. Manufactured in 1951, this First Series of the Reference 2499 was one of only four examples in pink gold known to the market. 

John Reardon, International Head of Christie’s Watch department, proudly commented: “This sale has exceeded our expectations in every way. With 69 lots sold above estimate, this sale sets a new benchmark for thematic sales and shows the amazing strength of the Patek Philippe market. On a personal level, I cannot overstate how impressed I am with the Christie’s international team in their commitment to making this sale a success as well as the passion and energy of the watch collecting community in participating in this sale. Collectors swarmed the room in a fury of excitement to earn the right to own one of the 100 watches on offer. Our team was particularly impressed by the performance of the 2499 First series sold for an impressive SFr.2,629,000. Also, the reference 530 manufactured in 1939 realised SFr. 593,000 against a presale estimate of 200,000-400,000”.