New World Record for Patek Philippe at Antiquorum Auction
At Antiquorum’s Geneva anniversary sale, Celebrating 35 Years of Making History in Time, a new record price was established for the Patek Philippe Calibre 89 pocket watch (pictured above). Antiquorum has not revealed the identity of the buyer.
Antiquorum declared that the sale price of CHF5,120,000 was a new world record for this watch and that it was the highest sale price for any watch in 2009 at auction. Interestingly, this is the second time this piece has appeared at an Antiquorum sale, the first being in 1989 when it sold for CHF4,950,000. The fact that this piece was a pocket watch does indeed evoke memories of the 1980s auctions that helped kick-start the enthusiasm for fine mechanical watches once again.
Overall, the auction raked in CHF12,174,948 in total sales over two days at the Mandarin Oriental in Geneva. Reports indicate that it was a standing-room only affair, with bids coming in fast and furious over both the phones and the Internet. Of the 364 lots offered, an incredible 218% sold by value, with 72% being sold by lot.
“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.
The auction house reported that Patek Philippe continued to be the top selling brand with several other lots achieving strong prices. A substantial CHF312,000 price was realized for the Patek Philippe Ref. 3990, a platinum and diamond wristwatch with chronograph, perpetual calendar and moon phases.
