The Hong Kong Watch Auction: EIGHT organized by Phillips featured an exclusive selection of 297 pieces from the best watch brands chosen according to their condition, rarity and quality. Total sale including costs: 14 110 333 $ USD, selling 90% of the lots presented.
BEST RESULTS
Lot 1066 : Patek Philippe ref. 5002G, Skymoon Tourbillon model, white gold double dialed wristwatch with twelve complications including cathedral minute repetition, tourbillon, perpetual calendar with retrograde date hand, leap year cycle, moon age, angular motion, sidereal time, moonphases and orbit, and sky chart orbit display with certificate of origin, sold for 1 094 050 $ USD.
Lot 1050 : Patek Philippe ref. 912, skeletonized yellow gold, pearl, diamond and ruby-set openface pocket watch, sold for 817 658 $ USD.
BEST PERFORMANCES
Lot 1050 : Patek Philippe ref. 912, skeletonized yellow gold, pearl, diamond and ruby-set openface pocket watch, or 1 535% variation between the low estimate and the final result (817 658 $ USD).
Lot 1004 : Omega ref. 3944, Cosmic model, wristwatch with triple calendar, moonphases and black dial, or 433% variation between the low estimate and the final result (27 191 $ USD).
Lot 1030 : Panerai ref. PAM838, Luminor Sealand, Year of the Tiger model, limited edition stainless steel and inlaid gold wristwatch with date and concealed dial made for the year of the tiger, or 420% variation between the low estimate and the final result (20 793 $ USD).
BREAKDOWN BY BRANDS
Patek Philippe
On the first step of the podium, with a watch having exceeded the million USD mark, average per lot 86 929 $ USD. A result based on the highest bid of the sale with lot 1066.
Rolex
On the second step of the podium, with a watch above 500 000 $ USD, average per lot 50 360 $ USD.
Audemars Piguet
On the third step of the podium, with a watch having exceeded the 200 000 $ USD mark, average per lot 44 412 $ USD.
These three brands represent a total revenue of 10 523 449 $ USD, or nearly 75% of the total sale.
AVERAGE PRICE PER LOT
Based on the number of lots, 297 in total, including 19 unsold lots, the average price of a lot was 50 757 $ USD.
CONCLUSION
The market has demonstrated once again its strength on the auction block, we have noticed the presence of the three leading watch brands : Patek Philippe, Rolex and Audemars Piguet.
