National Jeweler Network

Watch Auctions

Patek Ref. 5207P sells for $866K, sets record

April 11, 2014

A private Asian buyer paid $866,667 (including buyer’s premium) for this platinum Ref. 5270P from Patek Philippe. The Ref. 5207P is the third most complicated reference the brand makes.

Click through this slideshow to see the top 10 lots from Sotheby’s recent watch sale in Hong Kong.

Hong Kong--Yet another watch from Patek Philippe topped a global auction and set a new world record for one of the brand’s references when it sold for $866,667 at Sotheby’s Hong Kong Tuesday.

The Ref. 5207P-001, the brand’s third-most complicated watch, is a minute-repeating instantaneous perpetual calendar tourbillon watch with leap year and day/night indication. The 41 mm platinum timepiece, which was made in 2013, has a honey gold-colored dial.

Overall, Sotheby’s said its sale of Important Watches held Tuesday in Hong Kong totaled $16.7 million. It sold 91 percent by value and 88 percent by volume.

Timepieces from Patek Philippe claimed the top three lots and comprised six of the auction’s top 10 lots.

Watches from Richard Mille and Breguet also made the top 10 as did three clocks, one from Piaget and two from Gérald Genta. One of the Genta clocks has a hidden erotic scene, which can be seen in the Sotheby’s catalog.

Private buyers from Asia and one from the Middle East purchased all the lots in the sale’s top 10.

All prices quoted include buyer’s premium. The estimates do not.