Christie’s set the global record for the most expensive watch auctioned online on March 21. The record-breaking bid was for the Patek Philippe ‘Sky Moon Tourbillon’ (Ref. 6002G-001) at HK $45.4 million (US$ 5.8 million).
The stunningly beautiful Grand Complications tourbillon wristwatch is a double-faced minute repeater with “cathedral” gongs. On the front side it displays the perpetual calendar with retrograde date hand, along with the hours and minutes of mean solar time. Day, month, and leap year are displayed in apertures. The Moon phases are placed at 6 o’clock. On the reverse side is the sidereal time, sky chart, the phases of the moon and its orbit.
The dial is Grand Feu champlevé and cloisonné brown enamel. The gold-applied Roman numerals sit on an 18K gold dial plate. The 44 mm x 17.35 mm case is hand-engraved rose gold, as are the lugs, slide piece and crowns. It has a sapphire crystal case back. The watch is humidity- and dust-protected but not water-resistant.
The Patek Philippe ‘Sky Moon Tourbillon’ was sold as part of Christie’s ‘Hong Kong Top Of The Time Watches Online’ Sale, which registered a total of HK$65,811,600 (US$8,420,555). Of all the watches sold, 93% were sold by lot, and the hammer came down 131% above combined low estimates.
These results Highlight a strong start to the Watch Season in general, and for Christie’s in particular. Hong Kong continues to be a major global collecting hub for watches. The Top Of The Time sale saw participation from 48 countries across seven continents. Online Sales is a particularly important channel for attracting millennials, who represented 40% of buyers.
Alexandre Bigler, Vice-President, Head of Watches, Christie’s Asia Pacific, commented: “The outstanding results established for Watches Online: Top of the Time demonstrate the power of Christie’s online sale platform to present exceptional lots and achieve top prices, on par with our live sales.
“There continues to be an extremely vibrant market for watches across the world, evidenced through the avid global bidding this sale witnessed, which further cements Hong Kong’s status as an international epicentre for watch collecting. This sale lays a very strong foundation for our Spring Auctions in May at the Hong Kong Convention and Exhibition Centre, where we look forward to presenting more exceptional timepieces for our esteemed clients and watch enthusiasts.”
The second highest price tag was claimed by a Gerald Genta. The skeletonised platinum minute repeating wristwatch features a perpetual calendar, leap year indicator and moon phases. It sold for HK$819,000 (US$104,791). That is over five times its low estimate.
Close behind, with a price tag of HK$7,812,000 (US$999,541), was another Patek Philippe. This time it was a 5208 Grand Complications wristwatch from 2015 (ref. 5208P-001). It features a minute repeater, instantaneous perpetual calendar, single-button chronograph, moon phases, leap year and day-night indication.