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Press Release

Patek Philippe Yellow Gold Calibre 89 Sells for World Record Price of CHF 5,120,000

For Immediate Release

Dec. 1, 2009

Patek Philippe Yellow ...

Patek Philippe Yellow Gold Calibre 89 Sells for World Record Price of CHF 5,120,000 at Antiquorum’s 35th Anniversary Sale in Geneva

Geneva, November 16, 2009 - Antiquorum’s anniversary sale “Celebrating 35 Years of Making History in Time” drew an impressive CHF 12,174,948 in total sales over two days this weekend at the Mandarin Oriental in Geneva. Enthusiastic bidders filled the standing-room only auction room as they anxiously bid on their timepieces of choice. Enthusiasm for the 364 exceptional timepieces coupled with excitement surrounding the caliber 89 had started to develop the moment that Antiquorum announced its intention to sell the famous watch—their cover piece for the catalog. Strong Internet and telephone bidding came from across the globe including Taiwan, Hong Kong, Italy, Germany and the United States in addition to the spirited bidding in the auction room. Of the 364 lots offered, an outstanding 218% was sold by value and 72% sold by lot.

The highlight of the sale was unquestionably the Patek Philippe Calibre 89—the world’s most complicated and talked about timepiece. After several minutes of intense bidding in the room and on the telephone, the final bid reached an extraordinary CHF 5,120,000 – a new world record for this watch and also the most expensive watch sold in 2009 by any auction house in the world. This is the second time Antiquorum has had the pleasure of selling this unique timepiece; in 1989 Antiquorum sold the Calibre 89 in its sale celebrating the 150th anniversary of Patek Philippe for an impressive CHF 4,950,000.

“The incredible result realized for the Calibre 89 in our 35th anniversary auction indicates that the market for the most complicated and important watches in the world remains exceptionally strong. We are extremely honored to have sold this exceptional and unique timepiece for the second time in Antiquorum’s history and are thrilled that we have once again achieved a world record price at auction.” said Robert Maron, Chairman Antiquorum.

Patek Philippe continued to be the top selling brand with several other lots achieving strong prices. A substantial 312,000 CHF price was realized for the Patek Philippe Ref. 3990, a platinum and diamond wristwatch with chronograph, perpetual calendar and moon phases. In addition, the white gold Patek Philippe ref. 5102 “Celestial” brought a remarkable 228,000 CHF. Furthermore, the Patek Philippe Ref. 5041, a rare white gold wristwatch with perpetual calendar sold for a commendable 102,000 CHF

Cloisonne enamel dial timepieces, also a highlight of the sale sold extremely well as expected – the total realized for the 18-watch cloisonné collection was just over CHF 860,000. The Rolex “Caravelle”, Ref. 6100 with cloisonné dial, brought an extraordinary 288,000 CHF, while the Patek Philippe Ref. 2481 in pink gold with cloisonné enamel “Tropics” dial fetched the incredible price of 234,000 CHF. Also attracting much attention, the Omega “Neptune’s Chariot”, an18K yellow gold wristwatch with cloisonné enamel dial, sold for a significant 66,000 CHF. In addition, the Universal “St. George and the Dragon” wristwatch in 18K pink gold with cloisonné enamel dial obtained a notable 42,000 CHF.

“We’re quite pleased by the results for the collection of cloisonné timepieces in our sale,” said Etienne Lemenager, Director & Watch Expert, Antiquorum. “It is evident that these extremely rare and exquisite cloisonne pieces – that are so rarely seen at auction – are in great demand by collectors worldwide as so few were ever produced.

Pocket watches were also in high demand at the November sale. The “Varicolored Gold, Diamonds & Enamel with French Calendar” pocket watch produced circa 1780 sold for 37,200 CHF, more than twice its’ low estimate. Also, the “Summer Bouquet Just & Son, London, No. 2170” pocket watch made for the Chinese market circa 1860 attained an impressive 55,200 CHF, nearly twice its estimate.

Cartier also achieved excellent results in the 35th anniversary sale as confirmed by the “Platinum Split-seconds” chronograph pocket watch - the first platinum split-seconds chronograph pocket watch by Cartier without additional complication to be offered at auction and one of only two examples known to date - sold for an astounding 60,000 CHF, more than twice its’ estimate. Finally, the Cartier “Tank” with London import marks from 1932-33 obtained 39,600 CHF, three times its’ estimated value.

The “Top Lots” for Antiquorum’s November 14th & 15th auction are as follows:

Lot 364 high definition

Lot 364

The Yellow Gold Calibre 89 Patek Philippe - Genève A spectacular and unique, keyless three-barrel, double dial, astronomical and astrological 18K yellow gold watch with sidereal time, second time zone, time of sunrise and sunset, equation of time, perpetual calendar, century leap year correction, century, decade and year indication, four year cycle indication, season, equinox, solstice and Zodiac indication, star chart, phases and age of the moon, date of Easter indication, split-seconds chronograph, hour and minute recorders, Westminster chime on four gongs, “Grande and Petite Sonnerie”, alarm, up/down indicators for the going and striking train, three way setting indicator, winding crown position indicator, thermometer and Tourbillon regulator.

Sold for: CHF 5,120,000

Lot 185 high definition

Lot 185

Platinum Ref. 3990 Patek Philippe, Genève. Made circa 2000. Very fine and important, astronomic, water-resistant, platinum and diamonds wristwatch with round button chronograph, register, perpetual calendar, moon phases, with sapphire crystal back.

Sold for: CHF 312,000

Lot 346 high definition

Lot 346

Ref. 6100, "Caravelle"Cloisonne Dial Rolex, Oyster Perpetual. Made in 1952. Exceptionally rare and fine, center-seconds, self-winding, water-resistant, 18K yellow gold wristwatch with cloisonné enamel galleon gold dial.

Sold for: CHF 288,000

Lot 352 high definition

Lot 352

Ref. 2481,Tropics Cloisonne Dial Patek Philippe, Genève. Made in 1954 and sold on October 2nd, 1956. Extremely fine and unique, one of a series of three made, center-seconds, 18K pink gold wristwatch with cloisonné enamel "Tropics" dial.

Sold for: CHF 234,000

Lot 363 high definition

Lot 363

Ref. 5102G, The Celestial Wristwatch, First Time at Auction Patek Philippe, Genève, The Celestial Wristwatch, Ref. 5102G.Made in 2005, sold on March 17th, 2005. Extremely fine, rare and unusual, astronomic, self-winding, 18K white gold wristwatch with mean time indication, nocturnal sky chart of the Northern Hemisphere, moon phases and moon orbit, time of the meridian passage of Sirius and moon.

Sold for: CHF 228,000

Lot 358 high definition

Lot 358

Ref. 1436 Patek Philippe & Cie, Genève, retailed by Tiffany & Co. Made in 1969, sold on October 31, 1969. Extremely fine and rare, 18K yellow gold wristwatch with square button, co-axial split-seconds chronograph, 30-minute register, tachometer.

Sold for: CHF 216,000

Lot 187 high definition

Lot 187

Ref.1463, Pink Gold – Pulsometer Scale Patek Philippe, Genève. Made in 1953, sold on March 7th, 1955. Extremely fine and very rare, water-resistant, 18K pink gold doctor's wristwatch with round button chronograph, 30-minute register, pulsometer scale graduated for 15 pulsations.

Sold for: CHF 210,000

Lot 186 high definition

Lot 186

Ref. 4767 Pink Gold “Jean-Claude Killy” Rolex,”Oyster Chronographe, Anti-magnetique”.Made in 1947. Very fine and extremely rare, tonneau-shaped, water-resistant, 18K pink gold wristwatch with round button chronograph, registers and triple date.

Sold for: CHF 198,000

Lot 278 high definition

Lot 278

Platinum RM003 Richard Mille, “Tourbillon RM003”. Production of this reference started in 2003. Very fine, rare and very unusual, tonneau-shaped and curved, water resistant, two time zone, platinum wristwatch with visible one-minute tourbillon regulator, torque indicator, power-reserve

Sold for: CHF 120,000

Lot 115 high definition

Lot 115

Pièce Unique Schwarz Etienne, 1902, "Tourbillon Millenium", No. 1/1. Made in May 2008. Very fine and rare, oversized, water resistant, skeletonized and hand-engraved, 18K white gold wristwatch with visible one-minute tourbillon regulator

Sold for: CHF 120,000

Next Antiquorum Sales - 2009:
New York: Wednesday, December 9th