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Phillips Hong Kong Watch Auction: FIVE – Highest sale in Asia

Concluded 28 November 2017, Phillips Hong Kong Watch Auction: FIVE closed with sales of US $14,039,600 – the highest sale total for any auction in Asia

Dec 05, 2017 | By LUXUO

Concluded 28 November 2017, Phillips, in Association with Bacs & Russo, completed the fall season of sales in Asia with The Hong Kong Watch Auction: FIVE, achieving HK $109,598,750/ US $14,039,600 – the highest sale total for any watch auction held in Asia this year.

In a tightly curated sale, 167 collectible timepieces of the highest quality attracted collectors from 44 countries across six continents, including 345 online bidders. Particularly strong results were achieved for Patek Philippe, with the reference 2523 World-Time establishing a new record for the highest result ever achieved for any wristwatch sold at auction in Asia.

Phillips Hong Kong Watch Auction: FIVE – Highest sale in Asia

Other notable highlights included the Rolex Paul Newman Dayton reference 6241 in 14K yellow gold, which tripled its low estimate, and the Patek Philippe reference 5004, which set a new world auction record for the reference in white gold.

28 November Phillips Hong Kong Watch Auction: Patek Philippe Ref. 2523 – A gold world-time watch with engine turned dial – achieved US $2,856,630

“Following our blockbuster sales in New York and Geneva, the Hong Kong Watch Auction: FIVE achieved an impressive HK $109 million – the highest sale total for any watch auction staged in Asia this year, bringing Phillips’ annual total for the category to over US $110 million.” – Aurel Bacs, Auctioneer and Phillips Senior Consultant

Thomas Perazzi, Head of Watches, Asia said: “The Phillips’ Watch department is proud to have delivered a triumphant sale in Hong Kong this fall, reaffirming its market leadership in the region. As we continue to bring fresh to the market timepieces of the finest quality to the Asian marketplace, we broke Phillips’ own record for the highest result ever achieved for any wristwatch sold at auction in Asia with the Patek Philippe reference 2523 selling for HK $22,300,00. We were especially please to welcome significant participation from collectors across India for the Patek Philippe five minute repeating chronograph pocket watch, presented by Jamsetji N Tata to James Morris, The Architect of Esplanade House Bombay, which soared to seven times its estimate. Phillips is fully committed to further expanding our presence in Asia and offering best-in-class quality, service and scholarship to collectors in the region.”

Renowned auctioneer and Phillips Senior Consultant Aurel Bacs added, “Following our blockbuster sales in New York and Geneva, the Hong Kong Watch Auction: FIVE achieved an impressive HK $109 million – the highest sale total for any watch auction staged in Asia this year, bringing Phillips’ annual total for the category to over US $110 million. The top ten list is dominated by Patek Philippe and Rolex, with a broad array of vintage and contemporary watches leading that list. In this passionate and international marketplace, Phillips welcomed over 1,000 bidders this season and concludes 2017 maintaining its worldwide market leadership.”

Top Ten Lots at the 28 November Phillips Hong Kong Watch Auction: FIVE

 

 

 
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