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Press Release

Antiquorum Achieves World Record and Remarkable Results at June Auction in Hong Kong

For Immediate Release

Aug. 2, 2012

Antiquorum Achieves World ...

Antiquorum Achieves World Record and Remarkable Results at June Auction in Hong Kong

For Immediate Release

 Hong Kong, June 23rd, 2012 - Antiquorum's June auction of "Important Modern & Vintage Timepieces", held on Saturday, June 23rd at The Mandarin Oriental in Hong Kong, concluded with an outstanding result of HKD 35,124,875/ USD 4,526,191/CHF 4,331,248. Strong prices were achieved resulting in 123% sold by value based on the low estimate. In addition to the strong in-room presence, the auction enjoyed competitive telephone and Internet bidding. International participation came from Switzerland, Germany, the United States, Japan, Singapore, the Russian Federation as well as Australia.

 The top lot of the sale was the Patek Philippe Ref. 5029, No. 1 (Lot 412). Produced in only ten examples in pink gold, the extremely rare minute repeater with officer-style case sold to an Asian bidder after an exciting bidding war for an exceptional HKD 3,500,000.

 Another highlight of the sale was the Patek Philippe Ref. 5004P. Seldom appearing at auction, the platinum wristwatch with split-second chronograph, perpetual calendar and custom ordered platinum bracelet elicited aggressive bidding and achieved a world-record price of HKD 3,260,000.

  "We are very pleased by our overall results, and especially proud to have achieved another world record --  this time, for a Patek Philippe Ref. 5004P, which sold for an incredible HKD 3,108,000," said Evan Zimmermann, President and CEO, Antiquorum.

In addition, Antiquorum helped raise 440,000 HKD for the Fondazione Cologni dei Mestieri d'Arte (The Cologni Foundation for Artistic Craft Professions) through the sale of lots 170 -183. All proceeds from these lots were donated directly to the foundation, whose mission is nurture a new generation of craftsmen, protect traditional craftsmanship and promote contemporary arts and crafts. 

Other Patek Philippe watches also sparked competitive bidding. The Patek Philippe Ref. 5004J (Lot 411), a split-seconds chronograph in 18K yellow gold, attained HKD 1,540,000; while the Patek Philippe Ref. 5077P (Lot 257), a platinum wristwatch with the unique "Phoenix 2" cloisonné enamel dial attracted much attention from Asian bidders and ultimately sold for an impressive HKD 920,000. The unique Patek Philippe Ref. 1312 "Pendulette Dome" table clock (Lot 256) also achieved a significant result, selling for HKD 1,220,000.

"Collectors in the room and on the Internet aggressively bid on modern timepieces offered in the auction," said Jill Chen, General Manager, Antiquorum Hong Kong. "Notably, timepieces in superior condition from the Property of a Japanese Collector as well as Patek Philippe watches achieved exceptional results."

Complicated wristwatches also did very well. The IWC Schaffhausen, "Il Destriero Scafusia," a platinum wristwatch with double split-seconds chronograph (Lot 163), achieved HKD 1,372,000. Franck Muller also generated interest and obtained important results. The Calibre 97 Grande et Petite Sonnerie minute repeater in 18K white gold (Lot 332) sold for HKD 1,316,000 and the Ref. 7880 RMT (Lot 331), a platinum wristwatch with one-minute flying tourbillon regulator, fetched HKD 860,000.

Vacheron & Constantin continues to be in great demand by collectors across the globe. The pink gold skeletonized wristwatch with perpetual calendar, Ref. 43172/000R (Lot 160), sold for HKD 668,000.

The "top lots" for the June 23rd auction are as follows:

 Lot 412

Patek Philippe Ref. 5029 No. 1, minute repeater in 18K pink gold. Made in 1997 and sold on 24th October, 1997, this watch was made in a limited edition of 10 examples to commemorate the inauguration of the new Patek Philippe manufactory in Geneva. An extremely rare 18K pink gold minute repeating wristwatch with Breguet numerals and hands and Officer-style case. The lot was accompanied by a fitted presentation box and the Extract from the Archives.

Sold Including buyer's premium: HK$ 3,500,000

Pre-Auction Estimate: HK$ 3,000,000 - 4,700,000

 Lot 169

Patek Philippe Ref. 5004P platinum wristwatch with coaxial round button split-seconds chronograph. Made in 2002, sold on 20th July, 2001, this extremely fine and rare wristwatch features perpetual calendar and moon phases. Accompanied by the Certificate of Origin, fitted box, additional solid case back, push pin and instruction booklet.

Sold Including buyer's premium: HK$ 3,260,000

Pre-Auction Estimate: HK$ 1,700,000 - 2,500,000

 Lot 411

Patek Philippe Ref. 5004J split-seconds chronograph in yellow gold. Sold on 24th May, 2007, this example is extremely rare and important with perpetual calendar, moon phases and leap year. Accompanied by a Patek Philippe fitted box, the Certificate of Origin, additional case back and push pin.

Sold Including buyer's premium: HK$ 1,540,000

Pre-Auction Estimate: HK$ 1,200,000 - 1,600,000

 Lot 163

IWC Schaffhausen, "Il Destriero Scafusia," No. 58/125, platinum wristwatch with double split-seconds chronograph, made from 1993 to 1999 with a total of 125 examples in a limited edition. Extremely fine and rare, the minute repeating wristwatch features flying one-minute tourbillon regulator, perpetual calendar and moon phases. Accompanied by a wooden fitted box, certificates, extra strap, IWC Platinum buckle and IWC 125th anniversary book. It is a highly complicated wristwatch made to celebrate the 125th anniversary of the watch company.

Sold Including buyer's premium: HK$ 1,372,000

Pre-Auction Estimate: HK$ 1,400,000 - 1,700,000

 Lot 332

 Franck Muller Calibre 97 Grande et Petite Sonnerie minute repeater in 18K white gold. In addition to the grande et petite sonnerie and minute repeating functions, this very fine and rare wristwatch also features perpetual calendar, triple date and moon phases. Made circa 1997. Accompanied by the original fitted box.  

 Sold Including buyer's premium: HK$ 1,316,000

Pre-Auction Estimate: HK$ 900,000 - 1,400,000

 Lot 256

 Patek Philippe Ref. 1312 "Piece Unique - Pendulette Dome" table clock, a unique solar-powered and electro-mechanical brass table clock with polychrome cloisonné enamel panels depicting bamboo and dancing cranes. Accompanied by a fitted service box and service receipt from 2009. 

Sold Including buyer's premium: HK$ 1,220,000

Pre-Auction Estimate: HK$ 400,000 - 600,000

 Lot 410

 Patek Philippe Ref. 5020 3RD, 18K yellow gold astronomic wristwatch with perpetual calendar, moon phases and an 18K yellow gold Patek Philippe deployant clasp. Made in 1994, sold on 24th November, 1994. Accompanied by the original fitted box and Extract from the Archives.

 Sold Including buyer's premium: HK$ 1,092,000

Pre-Auction Estimate: HK$ 800,000 - 1,200,000

 Lot 257

Patek Philippe Ref. 5077P platinum cloisonné enamel dial. Made in a limited production in 2010, sold on 12th July, 2011, the very fine and very rare platinum wristwatch with the unique "Phoenix 2" cloisonné enamel dial is accompanied by the original Patek Philippe fitted box, Certificate of Origin and booklets.

 Sold Including buyer's premium: HK$ 920,000

Pre-Auction Estimate: HK$ 370,000 - 600,000

 Lot 331

 Franck Muller Cintrée Curvex Répétition Tourbillon, Ref. 7880 RM T. Made circa 2007. Very fine and very rare platinum wristwatch with one-minute flying tourbillon regulator, minute repeater and an 18K white gold Franck Muller buckle. Accompanied by a fitted box

 Sold Including buyer's premium: HK$ 860,000

Pre-Auction Estimate: HK$ 550,000 - 800,000

 Lot 160

Vacheron & Constantin Skeletonized Perpetual Calendar, Ref. 43172/000R, 18K pink gold skeletonized, self-winding wristwatch with perpetual calendar, moon phases and 18K pink gold Vacheron & Constantin buckle. Made in 2001. Accompanied by a fitted box, COSC, setting pin andcertificate.

Sold Including buyer's premium: HK$ 668,000

Pre-Auction Estimate: HK$ 260,000 - 340,000

 

 Next Antiquorum Sale: August 25, Hong Kong

 About Antiquorum: Established in Geneva in 1974, Antiquorum has carved its own unparalleled niche in the auction world through its focused expertise in horology and by cultivating a thriving collector's market for timepieces worldwide. The auctioneer and appraiser of fine modern and vintage timepieces has set world records for auction sales and holds approximately ten auctions a year in Geneva, New York and Hong Kong, with previews held in major cities worldwide. Antiquorum maintains offices in Paris, Milan, London, Munich, Shanghai, Tokyo and Moscow.