The Hong Kong Watch Auction: Seven organized by Phillips featured an exclusive selection of 259 watches from the best watch brands chosen according to their condition, rarity and quality. Total sale including costs : 14 050 560 $ USD, selling 92% of the lots presented.
BEST RESULTS
Lot 876 : Rolex ref. 6241, Cosmograph Daytona model, “Paul Newman”, yellow gold chronograph wristwatch with black “Paul Newman” dial displaying contrasting gold registers, sold for 780 800 $ USD.
Lot 888 : Patek Philippe ref. 5004A-001, stainless steel perpetual calendar split seconds chronograph wristwatch with moon phases, 24 hours, leap year indicator, sold for 550 400 $ USD.
BEST PERFORMANCES
Lot 1023 : Patek Philippe ref. 3800/1, Nautilus model, stainless steel and yellow gold wristwatch with date, sweep center seconds and bracelet, retailed by Gübelin, 508% variation between the low estimate and the final result (48 000 $ USD).
Lot 1046 : Omega ref. ST 166.077, Seamaster 600 model, Ploprof, stainless steel left-handed diver’s wristwatch with date and locking rotating bezel, representing a 419% variation between the low estimate and the final result (80 000 $ USD).
Lot 803 : Hublot, Classic Fusion model, limited edition pink gold, titanium and stainless steel wristwatch with sweep center seconds, numbered 1 of a limited edition of 25 pieces, representing a 412% variation between the low estimate and the final result (5 120 $ USD).
BREAKDOWN BY BRANDS
Patek Philippe
On the first step of the podium, with three watches exceeding 400 000 $ USD, average per lot 94 106 $ USD. A result based on the second highest bid of the sale with lot 888.
Rolex
On the second step of the podium, with a watch above 700 000 $ USD, average per lot 92 897 $ USD. A result based on the highest bid of the sale with lot 876.
Omega
On the third step of the podium, with a watch having exceeded 100 000 $ USD, average per lot 25 872 $ USD.
These three brands represent a total revenue of 11 540 320 $ USD, or more than 80% of the total sale.
AVERAGE PRICE PER LOT
Based on the number of lots, 259 in total, including 20 unsold lots, the average price of a lot was 58 789 $ USD.
CONCLUSION
A solid sale that once again demonstrates the importance of selecting pieces in an increasingly selective market. This sale follows the trend and market leadership of the two star brands Patek Philippe and Rolex, also we see again great results fro Omega vintage timepieces. An encouraging sign for the vintage watch market in Asia.
