On March 22, Christie’s sold a rare Patek Philippe for $5.8 million (or 45.5 million Hong Kong dollars) over the internet—setting a new record for the most expensive watch sold in an online-only sale.
The final price of the Patek Philippe “Sky Moon Tourbillon” exceeded its original estimate of 28 million to 45 million Hong Kong dollars.
Christie’s noted that millennials represented 40% of the buyers at the auction, and seem to prefer the online channel.
In a statement, Alexandre Bigler, vice president and head of watches for Christie’s Asia-Pacific, said the results mark a strong start for 2023’s watch selling season.
“The outstanding results…demonstrate the power of Christie’s online sale platform to present exceptional lots and achieve top prices, on par with our live sales,” he said.
In addition, auction house Phillips in association with Bacs & Russo will be unveiling a Patek Philippe Reference 96 Quantieme Lune that once belonged to Aisin-Gioro Puyi, the last emperor of the Qing dynasty.
While only seven Patek Philippe Reference 96 watches of such complication were previously known, this newest watch is fresh to the market and is the eighth example to appear. The Calatrava case in platinum was crafted by famed case maker Antoine Gerlach and identified by a “Key number 4” stamp. The dial features an Arabic numeral dial paired with matching pink gold ring and Feuille hands.
The display will take place at the March 18 opening of Phillips’ new Asia headquarters in Hong Kong’s West Kowloon Cultural District.
The watch and other pieces from the Last Emperor’s collection will be on view at Phillips’ Hong Kong office from March 18 to 31. This will be followed by an international tour to New York City, Singapore, London, Taipei, and Geneva. The pieces will be offered for sale at a later date.
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