Patek Philippe Ref. 5016 in Pink Gold Sets Record at Antiquorum Auction

It’s auction season in Geneva! Hot on the heels of strong results at Christie’s and Sotheby’s, Antiquorum has revealed details from its Important Modern & Vintage Timepieces auction. The sale, which was held November 10 at the Mandarin Oriental Hotel in the Swiss city, brought in CHF 7,632,475 (approximately US$8,316,039).

The highlight of the auction, which saw 610 timepieces go under the gavel, was the Patek Philippe Ref. 5016 Tourbillon Minute Repeater with Perpetual Calendar and black dial in pink gold (pictured above). Only the third such example ever to appear at auction, and the first with a black dial, this lot generated strong competition between phone bidders. This 18K pink gold wristwatch, which boasts a one-minute tourbillon regulator, retrograde perpetual calendar and moon phases, sold for a world record price of CHF 723,750 (approximately US$788,569).

According to Antiquorum there was competition from around the globe, with bidders from countries like China, Hong Kong, Germany, Switzerland and the United States. Julien Schaerer, the Managing Director of Antiquorum Geneva, commented, “We are delighted with the result for the exceptional Patek Philippe Ref. 5016 with black dial offered in our November auction. As confirmed by today’s sale, collectors continue to aggressively compete for timepieces that epitomize the top echelon of the market.”

Another Patek Philippe that generated strong competition was the earliest known Ref. 3448 with leap-year indicator. This newly discovered 18K yellow gold wristwatch, which was offered at auction for the first time, boasts perpetual calendar, moon phases and leap year complications. The timepiece sold for twice its estimate at CHF 231,750 (approximately US$252,505).

Here are some more highlights from the auction:

A never-before-seen Rolex Ref. 6239 Paul Newman retailed by Tiffany & Co. elicited strong competition from collectors at the auction and on the phone. This stainless steel wristwatch with round button chronograph, registers, tachometer and Oyster bracelet fetched CHF 195,750 (approximately US$213,281).

The Lange 1 Tourbillon by A. Lange & Sohne also achieved a strong result. Part of a limited edition of 150 pieces, this platinum wristwatch with visible one-minute tourbillon regulator, off-center hour dial, oversized date and power reserve indication sold for CHF 117,750 (approximately US$128,295).

Photos courtesy Antiquorum.