by Kyle Stults on November 13, 2013
Exemplifying the white hot collectors market right now, a superb example of a second series pink gold Patek Philipee Reference 2499 sold at the Christie’s “Important Watches” sale this week in Geneva for a cool $2.2 million, well beyond pre-sale estimates. This was the headline piece of the sale, outselling a rare Patek Ref 1563 which sold for a whopping $1.57 million. To many elite collectors of vintage Patek Philippe wristwatches, reference 2499 represents the pinnacle, beautifully combining aesthetics, complications, and rarity. Indeed, a Patek reference 2499 cased in platinum and formerly owned by Eric Clapton sold at this same sale last year year for $3.6 million. Even without the star power of someone like Clapton behind it, it quite simply does not get any better than this pink gold 2499.
On November 10th and 11th 2013, Christie’s Geneva three-session auction of important watches realized an unprecedented combined total of $43,985,467 (€32,823,824) with 370 watches sold, the highest result for a series of watch sales ever held. On November 11th alone, the various-owner Important Watches sale totalled $30,737,300 (€22,956,887), with 92% of all lots sold. A quick review of the auction results clear shows that Patek Philippe and Rolex were the stars, confirming their ongoing dominance as the marks of choice for most high-end collectors.
For just a few specific examples you can turn to the Patek Ref 2499 in pink gold that sold for $2.2 million, the Rolex Cosmograph Daytona Ref. 6263 “Paul Newman” that sold for $1.1 million a couple days ago, as well as the rare Patek Philippe “Duke Ellington” Ref 1563 that sold for $1.6 million just yesterday, all as I profiled here on Perpetuelle. This is not an isolated trend — watch prices have been super strong across the board this year.
So, should we thank Ben Bernanke and his global counterparts for all of the “stimulus” these past many years, or is this supremely strong demand and rising watch prices merely a reflection of sustainable gains in wealth? I wonder.
by Kyle Stults on October 24, 2013
$890,000 – $1.55 million pre-auction est…1/3 known to exist…”Duke Ellington” Patek…
UPDATE: SOLD for $1.57 million on Nov 11, 2013
This superb and extremely rare Patek Philippe Ref 1563 is one of only three examples known publicly to exist. Although it will likely sell for more than $1 million — perhaps closer to if not more than $1.5 million – it will likely be surpassed in its sales price by another exceptional Patek Philippe, a Ref 2499 in pink gold which is the headline piece of Christie’s upcoming “Important Watches” auction in Geneva.
Yes, Eric Clapton’s drop-dead-gorgeous platinum Ref 2499 sold for $3.6 million at this same auction last year (a watch I profiled in-depth at the time), but this year’s event, though lacking the “star power” of Eric Clapton, really will be an amazing auction event for watch collectors. I estimate that there are ten Patek’s that are each capable of fetching in excess of a half million dollars. But as usual, there is so little time and so many watches, so let’s take a look at this Patek Ref. 1563, shall we? By the way, I’ve got the FULL story on the 1563 (and it includes more Eric Clapton), below.
Read the rest of this entry »
by Kyle Stults on September 03, 2013
Two highlights from the 2013 Patek Phillippe Collection are the Calatrava Ref. 5227 with its superbly hinged caseback, and the Ref. 5200 Gondolo 8 Days, Day & Date Indication, a new complication in a rectangular caliber and a beautiful dial color. In a well-done video presentation, you can watch Patek President Thierry Stern give his own personal unveiling of these two new models – but, unfortunately, Patek has disabled “embedding” (why Patek, why?) so you’ll have to click over to YouTube to watch the video.
Among Patek’s 465 prestigious global retailers is David M Robinson. David M Robinson is a Patek retailer whose flagship store is at Canary Wharf in London (you can see their current Patek offerings here). From September 26, 2013 through October 6, 2013 they will have on exhibition the new 2013 Patek Philippe collection. Patek fans in the area would be well served to drop in and check it out.
Those of you who want to refresh yourselves on the new 5227 and the 5200 should check out my extensive reviews of both of these pieces (click link or images below).
Grand complication…new landmark reference…
This evening in Geneva, Patek Philippe unveiled a stunning new grand complication which will undoubtedly and quickly become a new landmark reference for the brand: the Ref 6002 Sky Moon Tourbillon in white gold. One of the most complicated watches Patek has ever produced, the Sky Moon Tourbillon is not entirely a new model from the Geneva-based masters, but it is, as one might say, the “latest and greatest” take on the 2-dial, 12-complication Sky Moon Tourbillon.
Though I am far from an authority on all-things Patek, I can tell you that the Ref 5002 Sky Moon Tourbillon, first launched in 2006, is now widely acknowledged as one of the world’s greatest and most important watch models ever created, incorporating in spectacular fashion an impressive quantity of attributes, complications and rarity. The new Ref 6002 takes it to a new level with an incredible and far-from-sober aesthetic.
Click through for in-depth review of the new Patek 6002
The first watch we are previewing for the September 2013 Only Watch event is this Patek Philippe Ref 5004T. The Patek Philippe Ref 5004 is a split-seconds chronograph + perpetual calendar; it was produced for about six years, until being replaced by the Patek Ref 5204 in 2011. The piece you see here is the first and likely only time that the Patek Ref 5004 will be created in a titanium case. More broadly, however, is that this is the fourth Patek Philippe EVER to be cased in titanium, according to my research. I revealed two of them here on Perpetuelle a couple years ago — the Patek Philippe Calatrava Ref5180T and the Calatrava Ref 6000T (see Two Titanium Patek Philippe’s You Didn’t Know Existed); and my knowledgeable friends at Monochrome also pointed out that the Patek Nautilus, Ref 5712T, was also cased in titanium — made for Only Watch 2007, fittingly.
Patek trivia aside, let’s take a closer look at this 5004T.
Click through for more looks and discussion
by Kyle Stults on April 25, 2013
Patek Philippe has also unveiled this year a new version of their iconic Calatrava Ref. 5227, but from the photo above you surely wouldn’t know it! So what’s all the excitement about one of Patek’s most iconic models? The new Calatrava Ref. 5227 now features a display back protected with a separate dust cover. The special twist: The entire hinge is hidden on the inside of the cover. Connoisseurs now have a discreet manner with which to admire the automatic mechanical Patek Caliber 324 S C. AND, the new Calatrava case has another exclusive feature, which I’ll also show you below.
Read the rest of this entry »
by Kyle Stults on April 25, 2013
Patek Philippe’s 5170J (yellow gold) was introduced in 2010. With an in-house caliber (replacing the Ref 5070′s Lemania caliber), it was a worthy addition to the list of manually wound, two-register chronographs from Patek. This year, Patek has rolled out the 5170 in white gold. It is essentially the same as the 5170J, same movement and 39mm case size, though there has been a subtle dial revision.
Like the 5170J, the 5170 in white gold is powered by the hand-wound Caliber CH 29-535 PS, a double register column-wheel chronograph with 65 hours power reserve and bearing the PP seal of excellence. The big change here is the dial. It has a silvery-white dial with a full set of Breguet numerals (save for the where the chrono registers sit). This is significant because the prior model had two roman numerals XII and VI and stick baton hour markers. See here:
I really like the revision, being a fan of Breguet style numerals. What say you?
Pricing on the Patek Philippe 5170G will be $87,100. Full specs at Patek.com>>>
by Kyle Stults on April 25, 2013
Overall this year Patek does not have many “new new” models, instead it seems they have focused on offering existing models in new case metals, and some other smaller details, such as minor case changes and also dials. Though some of these will be meaningful changes for Patek collectors — for example the Ref 5170 two-register chronograph is now offered in white gold with silvery-white dial and a full Breguet numeral layout. This is significant because the prior model had two roman numerals XII and VI and stick baton hour markers. Being a fan of Breguet numerals, I really like the new style of the 5170 — but I digress — more on this later.
Patek Philippe’s new Ref. 5200 Gondolo 8 Days, Day & Date is offered in sunburst blue and silvery white versions. It is set in a contoured, rectangular Art Deco case with two tiered sides, and a newly developed, manually wound form movement with silicon components. Case dimensions are 37.4mm × 46.9mm x 10.4mm thick.
Click through for full det’s on the new Gondolo 8 Days
by Kyle Stults on April 11, 2013
Offered by an American collector, the highly anticipated Patek Philippe Ref. 1518 Perpetual Calendar Chronograph (lot 99) stirred exceptional excitement in the auction room, on the phones, as well as on the internet as it went up for sale yesterday. After several minutes of intense bidding, the outstanding timepiece sold for an impressive $794,500, almost twice its low estimate. This particular watch last appeared at at auction over 15 years ago on October 18th, 1997 at Antiquorum Geneva. It was manufactured in 1951 and sold on November 3rd, 1953 with the rose gold bracelet — confirmed on the Extract from the Patek Archives.
Click through for hi-res looks at this superb Patek
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