Christie’s Hong Kong Watches Spring Auction Achieves a Record Sales Total

The demand for rare watches in Asia seems to be growing stronger. The latest live auctions at Christie’s Watches – ‘Important Watches: Featuring The Triazza Collection Part II’ and ‘The Ultimate Collection’, followed by ‘The Masterpiece Auction II From The Triazza Collection’ last week – have driven the first-half sale total for this year to HK$ 443,780,550/US$ 56,925,684, the highest ever for the category of rare watches at Christie’s Asia. 

During a standalone evening auction recently, a historically significant Patek Philippe Ref. 2523J 'Dual Crown World Time' broke records when it sold for HK$ 66,625,000/US$ 8,546,282. The auction also witnessed strong participation from 31 countries across four continents. With such outstanding results, Hong Kong’s status as a powerful global collecting hub for watches has been re-confirmed. With millennials comprising almost 40% of all new buyers, this category remains a gateway to Christie’s insofar as younger collectors are concerned. 

In an official statement, Alexandre Bigler, Senior Vice-President and Head of Watches, Christie’s, Asia-Pacific, said, “After breaking the global record back in March for the most valuable timepiece ever sold online, horological history was made yet again with the spectacular standalone sale of a Patek Philippe Ref. 2523J from the magnificent Triazza Collection, reaffirming Christie’s strength across both live and online watch auctions and in selling the most prestigious single-owner collections. The demand in Asia for rare and exceptional timepieces continues.” 

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The Masterpiece Auction II from the Triazza Collection 

Lot 2361

It is the record-breaking single lot involving Patek Philippe Ref. 2523J. Manufactured in 1955, the timepiece is an exceptional 18 ct gold two-crown World Time Wristwatch with a 24-hour indication. The dial depicts a North American map and has cloisonné enamelling. The watch sold for HK$66,625,000/US$8,546,282 setting a world record for the watch reference.

Highlights of Important Watches: Featuring the Triazza Collection Part II

Lot 2360

The Patek Philippe Sky Moon Tourbillon Model, Ref. 5002R-014, is a watch that blends aesthetic magnificence with mechanical complications. Manufactured in 2012, the 18 ct pink gold double-dial wristwatch features 12 complications, including ‘cathedral’ minute repeating, tourbillon, perpetual calendar with retrograde date, moon age and angular motion, sidereal time and sky chart. Enhanced with a sleek black dial and diamond indexes, the watch sold for HK$ 31,835,000/US$ 4,083,953, top lot of the sale.

Lot 2332

Another Patek Philippe, Ref. 1595, is a stunning 18 ct pink gold wristwatch. The dial depicts Tahiti forest with cloisonné enamelling. Manufactured in 1952, the watch was sold for HK$ 9,450,000/ US$ 1,212,293, more than double its estimated value.

Lot 2289

The F.P. Journe Tourbillon Souveraine Model, ‘China 2010’, is an extremely rare model, limited to five pieces only. Manufactured in 2010, this is a platinum limited-edition tourbillon wristwatch with a power reserve, dead beat seconds and a bracelet. The watch came under the hammer for HK$ 9,450,000/US $1,212,293.

Lot 2288

The F.P. Journe Chronomètre À Résonance Model, Ruthenium, was a limited edition of 99 pieces, created circa 2004. This special-order 38 mm platinum dual-time wristwatch with resonance-controlled twin independent gear-train movement was sold for HK$ 8,190,000/US$ 1,050,654.

Highlights of the Ultimate Collection

Lot 2542

The F.P. Journe Ruby Dial Tourbillon Souverain Model, circa 2019, is a rare platinum limited-edition tourbillon wristwatch with constant force, dead beat seconds, power reserve. The watch sports a stunning ruby dial and was sold for HK$ 8,820,000/US$ 1,131,474.

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Lot 2539

The F.P. Journe Chronomètre À Résonance Model, 2019 Edition, is a unique platinum dual-time wristwatch with resonance-controlled twin independent gear-train movement, constant force and power reserve. It features an icy blue mother-of-pearl dial. The watch came under the hammer for HK$ 8,190,000/US$ 1,050,654.

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Lot 2605

The Patek Philippe Ref. 5207P-001 is a unique and highly complicated platinum watch, manufactured in 2010. The watch boasts complications, such as minute repeating instantaneous perpetual calendar tourbillon wristwatch with moon phases, day/night and leap year indication. 

The watch was sold for HK$ 5,292,000/US$ 678,884.

Lot 2603

The Patek Philippe Ref. 5270G-024, circa 2017, is an 18 ct white gold watch. It boasts an array of complications, such as a perpetual calendar chronograph wristwatch with moon phases, leap year indication and day/night indication. Its appeal is enhanced by the Breguet numerals and it sold for HK$ 3,528,000/US$ 452,589.