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Patek Philippe sells for $3.3M at Christie’s HK

Posted on 2013-01-28, By A-Best Staff


This Patek Philippe Ref. 990/1, the “Star Calibre 2000” was the top lot of Christie’s Important Watches sale, which took place Nov. 28 in Hong Kong.

Hong Kong--Christie’s Hong Kong held both a jewelry and a watch auction this week, with the former setting a new record for the most valuable watch ever sold in Asia.

Christie’s Nov. 28 sale of Important Watches achieved a total of $24.2 million, with 91 percent sold by lot and 92 percent sold by value.

The highlight of the auction was an extremely rare 2008 Patek Philippe Ref. 990/1 or “Star Calibre 2000,” (top photo) which sold to an anonymous buyer for $3.3 million, becoming the most valuable watch sold in Asia.

The 18-karat gold double-dial clock watch features 21 complications, including Westminster chimes, minute repeat and power reserve indicator for movement and chime. The timepiece also features a perpetual calendar, leap year cycle, sunrise and sunset, running equation of time, sky chart and time of meridian passage by Sirius.

A highly important and extremely rare Patek Philippe Ref. 5002 (below) made in 2003 sold for just more than $1 million. The platinum wristwatch features 12 complications including minute repeat, tourbillon, perpetual calendar, retrograde date, sky chart, moon phases, orbit display and side real time.



A very rare Patek Philippe Ref. 5104 sold for $625,154. Made in platinum and 18-karat pink gold, the automatic semi-skeletonized minute-repeating wristwatch features a retrograde date, day, month, moon phases and leap-year indication.

“Our record-breaking sale of Important Watches marks the end to the strongest year in history of the department at Christie’s Hong Kong,” said Sam Hines, head of the watches department for Christie’s Asia. “Works by Patek Philippe underscored the diverse selection on offer, characterized by excellence in craftsmanship.

Christie’s sale of Magnificent Jewels, held on Nov. 27, achieved a total of $75.3 million, with 80 percent sold by lot and 82 percent sold by value.

The top lot of the auction was a 62.46-carat Burmese ruby and diamond necklace (below) by James W. Currens for manufacturer Fai Dee, which sold to an Asian private buyer for $5.2 million, or $83,800 per carat.




The Grand Muzos (below), a pair of pear-shaped Colombian emeralds weighing 23.34 and 23.18 carats, sold for $4.3 million, or $92,400 per carat. In addition, a pair of brilliant-cut D flawless diamonds, weighing 8.88 carats each, realized $3.7 million or $209,300 per carat.



“Exceptional Colombian emeralds and Burmese rubies, as well as D flawless diamonds, made top prices in an eight-hour auction,” said Vickie Sek, director and head of the jewelry and jadeite department at Christie’s Asia. “Private collectors from all over the Asia-Pacific region, which represented 90 percent of the buyers, showed great depth across the board. The strength of the region was clearly apparent with competitive bidding throughout the day.”

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