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.”
The Masterpiece Auction II from the Triazza Collection
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$8,546,282 setting a world record for the watch reference.
Highlights of Important Watches: Featuring the Triazza Collection Part II
The Patek Philippe Sky Moon Tourbillon Model, Ref. 5002R-014, is a watch that blends aesthetic magnificence with mechanical complications. Manufactured in 2012, the 18 ct pink gold double-dial wristwatch features 12 complications, including ‘cathedral’ minute repeating, tourbillon, perpetual calendar with retrograde date, moon age and angular motion, sidereal time and sky chart. Enhanced with a sleek black dial and diamond indexes, the watch sold for HK$ 31,835,000/US$ 4,083,953, top lot of the sale.
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.
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 $1,212,293.
The F.P. Journe Chronomètre À Résonance Model, Ruthenium, was a limited edition of 99 pieces, created circa 2004. This special-order 38 mm platinum dual-time wristwatch with resonance-controlled twin independent gear-train movement was sold for HK$ 8,190,000/US$ 1,050,654.
Highlights of the Ultimate Collection
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.
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.
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.
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.