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Press Release

World Record for Rolex Single Red Prototype, Rare Patek Philippe Drives Antiquorum Auction Results

For Immediate Release

Dec. 5, 2012

World Record for ...

Geneva - Antiquorum's November auction of "Important Modern & Vintage Timepieces," held on Sunday, November 11 at the Mandarin Oriental in Geneva, concluded with an outstanding result of CHF 8,631,137 and several lots selling for multiple times their original estimates.

The top lot of the auction was unquestionably the extremely rare Rolex Single Red Prototype, Ref. 1665 Sea-Dweller Submariner (lot 126), appearing for the first time at an auction and property of a Japanese Collector, which fetched an astounding CHF 490,900 (including buyer's premium), more than 400% its pre-sales estimate. It is the highest price ever paid for a Rolex sportwatch and for a Sea Dweller.

Other rare and unique lots were the recently discovered magnificent Royal Presentation Musical Fan with concealed watch from Piguet & Capt (lot 189). It was a gift from Prince Ferdinand of Saxe-Coburg and Gotha to Vicomte de Morais. This exceptional timepiece fetched CHF 386,500 (including buyer's premium).

A series of Patek Philippe timepieces also drew attention and heavy bidding, including a Patek Philippe Ref. 1518 (lot 612), a very fine and rare perpetual calendar chronograph First Series, made in 1951, it realized CHF 266,500 (including buyer's premium). Other notable sales were a Patek Philippe Ref. 2499 Perpetual Calendar Chronograph (lot 511), which sold for CHF 290,500 (including buyer's premium). Finally, an extremely rare steel Patek Philippe Ref. 1463 (lot 582) that was created and owned by a Patek Philippe régleur sold for CHF 194,500 (including buyer's premium), more than 50% its pre-sales estimate. The watch caused a lot of pre-auction chatter and after intense bidding, sold to an Asian collector. “It's clear that collectors took into account the great provenance of this watch as it belonged to one of the most respected watchmakers of his time,” said Etienne Lemenager, Watch Expert and Director of Antiquorum Geneva.

“Antiquorum is proud to continue to offer timepieces of exceptional provenance and rarity, several of which have never before been available at auction,” said Evan Zimmermann, President and CEO of Antiquorum.

"This was an amazing auction on all counts,” said Julien Schaerer, Watch Expert and Managing Director, Antiquorum Geneva. “We are of course thrilled with the impressive results, but equally so with the unique examples that inspired such competitive bidding from very enthusiastic clients.”

Strong results were achieved with 485 of the lots sold, representing 135% by value. The auction preview was held in Antiquorum's new showroom, located 3 rue du Mont-Blanc in Geneva, offering more than 100 square meters of exhibition space as well as a special lounge for customers. The collection of 613 exceptional vintage and modern timepieces and the selection of clocks attracted many bidders from around the globe, including China, Hong Kong, Russian Federation, the United States, Italy and the Middle East.

Below are highlights of the auction:

Lot 126
Rolex Ref 1665
Sold including buyer's premium: CHF 490,900
Pre-Auction Estimate: CHF 80,000 CHF - 120,000
The Single Red Patent Pending Rolex Ref.1665 500m/1650ft - one of only six known. Produced in 1967 and never seen before at auction, there are six known examples of the “Single Red,” including this one. According to research, this may be one of the only two known examples with escape valve. These watches were the prototypes for subsequent production models of the Sea-Dweller. Their history, intertwined with the lives and contributions of important divers of the 1960's make them one of the most historically significant watches that Rolex ever made, and thus one of the most important dive Rolexes to have ever come up for auction. Bought by the current consignor in the late 1980's, the watch has remained unworn in the safe since its purchase and has remained in excellent original condition.

Lot 189
Musical Fan with Concealed Watch
Sold including buyer's premium: CHF 386,500
Pre Estimate: CHF 300,000 - 500,000
A magnificent Royal Presentation Musical Fan with Concealed Watch, a gift from Prince Ferdinand of Saxe-Coburg and Gotha to Vicomte de Morais. Attributed to Piguet & Capt, Geneva. Made circa 1810. Extremely rare and magnificent, musical, gold, painted on enamel and pearl-set fan with concealed watch and visible rose-diamond-set balance, the fan painted in watercolor and gold.

Lot 612
Patek Philippe Ref.1518
Sold including buyer's premium: CHF 266,500
Pre-Auction Estimate: CHF 200,000 - 300,000
Patek Philippe Ref.1518, First Series. Made in 1951, it is a rare 18K yellow gold perpetual calendar chronograph wristwatch with moon phases accompanied by the Extract from the Archives.

Lot 511
Patek Philippe Yellow Gold Ref. 2499/100
Sold including buyer's premium: CHF 290,500
Pre-Auction Estimate: CHF 200,000 - 300,000
Patek Philippe Yellow Gold Ref. 2499/100, one of the last examples to be produced. It is a very fine 18K yellow gold perpetual calendar chronograph wristwatch with phases of the moon. Made in 1984, this watch has never been offered at auction before.

Lot 613
Patek Philippe Ref. 703
Sold including buyer's premium: CHF 100,900
Pre-Auction Estimate: CHF 60,000 - 80,000
Patek Philippe Ref. 703 "Piece Unique - Pendulette Dome “The Goddess of the Sun & the Moon,” made in 1956. Given as the prize for the Dragon Gold Cup in 1956, it is the earliest known Patek Philippe enamel solar clock at auction and one of the first ever made in cloisonné enamel by Michel Deville.

Lot 512
Patek Philippe Celestial, Ref. 5102J
Sold including buyer's premium: CHF 182,500
Pre-Auction Estimate: CHF 150,000 - 200,000
Another highlight of the sale was a Patek Philippe Celestial, Ref. 5102J. Made in 2007, this example is an extremely rare 18K yellow 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.

Lot 581
Patek Philippe, Ref. 1463
Sold including buyer's premium: CHF 182,500
Pre-Auction Estimate: CHF 150,000 - 200,000
Patek Philippe, Ref. 1463, a very rare stainless steel wristwatch with round button chronograph, register, tachometer and Breguet numerals. Produced in 1950, the present watch is one of only approximately 20 stainless steel (Ref. 1463) with Breguet numerals on the dial known to the market.

Lot 557
OMEGA REF. 568.18
Sold including buyer's premium: CHF 50,000
Pre-Auction Estimate: CHF 7,000 - 9,000
OMEGA REF. 568.18, a large early aviator's single button chronograph, made circa 1915. This model marked a milestone for Omega as it was the first generation of chronograph wristwatches ever made. Its large size made it ideal for aviation use.

Lot 273
Audemars Piguet, Jules Audemars Echappement Chronometre
Sold including buyer's premium: CHF 224,500
Pre-Auction Estimate: CHF 60,000 - 80,000
Audemars Piguet, Jules Audemars Echappement Chronometre. Made in 2010. A platinum chronometer wristwatch with enamel dial and power reserve indication made in 2010. Offered at auction for the first time, this watch won the Grand Prix de l'Horlogerie in 2009 in the men's watches category.

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 world's premier auctioneer 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 Beijing, London, Milan, Munich, Moscow, Paris, Shanghai and Tokyo. WWW.ANTIQUORUM.COM.

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