Haute News: The ‘Imperial Patek Philippe’ Is The Most Expensive Timepiece To Sell At Auction Thus Far In 2023

It’s been an exciting few weeks of timepiece auctions, from Chrisite’s Watches’ The Art of F.P. Journe auction to the Geneva Auctions last week with incredibly rare Patek Philippe and Biver timepieces. Today, stealing the auction show is the ‘Imperial Patek Philippe,’ which was previously owned by the Last Emperor of the Qing Dynasty. Phillips in Association with Bacs & Russo proudly announced that its landmark thematic auction, The Imperial Patek Philippe Sale, realized HK$52 million/ US$6.6 million by Phillips Hong Kong — making history as the most expensive timepiece to sell at auction thus far in 2023.

Photo Credit: Courtesy of Phillips

The historic auction occurred at Phillips’ new Asia headquarters in Hong Kong’s West Kowloon Cultural District in a room teeming with global collectors spanning 56 countries and journalists and watch enthusiasts from across Asia witnessing this memorable auction. In just six minutes of bidding over the phone, the timepiece was officially sold to an Asian collector residing locally in Hong Kong.

Photo Credit: Courtesy of Phillips

According to Thomas Perazzi, the Head of Watches, Asia, Phillips, this auction set three major records. “[This was] the highest result for any Patek Philippe reference 96 ever sold, a record of any wristwatch previously owned by Emperors that have been auctioned, and the most valuable lot ever sold by Phillips Watches in Asia. And we are proud of the enthusiastic response we have seen from collectors internationally as the watch and artifacts toured across the globe, and then which they attracted participants from 56 countries between the ages of 25 and 60 to join in this evening’s auction,” he triumphantly states.

Photo Credit: Courtesy of Phillips

“We have also witnessed many collectors from different collecting categories, such as Chinese paintings, ceramics, and antiques, who are new to Phillips vying for works offered in today’s sale. We will continue to achieve great heights in our upcoming sales in Hong Kong and into 2023,” Perazzi adds.