The Hong Kong Watch Auction: XVIII, organized by Phillips in Hong Kong on May 24, 2024, featured an exclusive selection of 281 pieces from the finest watch brands, chosen for their condition, rarity and quality. Total sale, including fees: $21,309,195 USD, or 98% of lots presented.
BEST RESULTS
Lot 933: Cartier – A unique, historically important “water clock” in marble, silver, lapis lazuli, nephrite, coral, mother-of-pearl, enamel and jade. Sold for $1,917,657 USD.
Lot 862: PATEK PHILIPPE – Yellow gold perpetual calendar pocket watch with minute repeater, double-slot chronograph, open dial and keyless. Sold for $1,297,653 USD.
Lot 883: PATEK PHILIPPE – Nautilus “Jumbo”, Oman, made as a personal gift by His Majesty the Sultan of Oman.
BEST PERFORMANCES
Lot 932: WMT (Watch Experimental Unit) Circa 2024 – A unique set of three whimsical and attractive stainless steel wristwatches, with certificate and presentation box. 980% variation between base estimate and final result ($11063 USD).
Lot 933 : Cartier – A unique, historically important “water clock” in marble, silver, lapis lazuli, nephrite, coral, mother-of-pearl, enamel and jade. 649% change between the base estimate and the final result ($1,917,657 USD).
Lot 934: Cartier circa 1930 – A yellow gold and jade panel table clock, set with emeralds, pearls, rubies and sapphires. 484% variation between the base estimate and the final result ($374,180 USD).
BREAKDOWN BY BRAND
PATEK PHILIPPE
PATEK PHILIPPE was the highest-priced brand in the sale, with the best sales figure of $7,564,031 USD.
CARTIER
Occupying second place in the sale’s top-price ranking, Cartier achieved a figure of $3,209,066 USD.
ROLEX
With a watch that fetched $488,061 USD, Rolex was the third best performing brand in the sale, with a result of $2,999,948 USD.
These three brands represented total proceeds of $13,773,046 USD, or 65% of the total sale.
AVERAGE PRICE PER LOT
Given the number of lots, 281 in all, including 7 unsold lots, the average price per lot was $77,771 USD.
CONCLUSION
This sale once again demonstrated the dynamism of the auction market, with the following brands in the top three: PATEK PHILIPPE, CARTIER and ROLEX.
Geoffroy Ader
