The Hong Kong Watch Auction: XVI”, organized by Phillips in Hong Kong on May 24, 2023, featured an exclusive selection of 247 pieces from the finest watch brands, chosen for their condition, rarity and quality. Total sale, including fees: $19,902,092 USD, or 99% of lots presented.
BEST RESULTS
Lot 832 : REXHEP REXHEPI, Ref. RRCC01, n° 20, Limited Edition of 25. Bracelet watch in 18k (750) rose gold. Sold for $923,696 USD.
Lot 925 : PATEK PHILIPPE, Ref. 5016P-018, Platinum wristwatch with tourbillon regulator, perpetual calendar and minute repeater. Sold for $696,824 USD.
BEST PERFORMANCES
Lot 989 : HAJIME ASAOKA, Tsunami 16, n° 001, Steel wristwatch. 3,551% variation between low estimate and final result ($186,359 USD).
Lot 869 : TORNEK-RAYVILLE, Ref. TR-900. Military wristwatch with humidity indication, produced for the American armed forces. 693% variation between the low estimate and the final result ($121,539 USD).
Lot 857 : KIU TAI YU, Ref. 22, no. 8, Limited Edition of 20. Bracelet watch in 18k (750) white gold created to celebrate the new millennium. 693% variation between low estimate and final result ( $81,028 USD)
BREAKDOWN BY BRAND
PATEK PHILIPPE
Occupying first place in the sale’s top price ranking. PATEK PHILIPPE achieved the sale’s best result of $7,208,073 USD.
ROLEX
Occupying second place in the ranking of best sales prices. ROLEX realized $3,219,973 USD.
F.P. JOURNE
With a watch that fetched $368,553 USD, F.P. JOURNE was the third best-performing brand in the sale, with a result of $1,676,428 USD.
These three brands represented total proceeds of $12,104,474 USD, or 61% of the total sale.
AVERAGE PRICE PER LOT
Given the number of lots, 247 in all, including 3 unsold lots, the average price per lot was $81,566 USD.
CONCLUSION
This sale once again demonstrated the dynamism of the auction market, with the following brands in the top three: Patek Philippe, Rolex and F.P. Journe.
