The Hong Kong Watch Auction: SIX auction organized by Phillips featured an exclusive selection of 231 pieces from the best watch brands chosen according to their condition, rarity and quality. Total sale including costs: 16 003 306 $ USD, selling more than 93% of the lots presented.
BEST RESULTS
Lot 953 : Rolex, ref. 1665, stainless steel wristwatch, sold for 629 173 $ USD. The Sea-Dweller model is today one of the most appreciated Rolex watches, perhaps because of its genesis as one of the ultimate tool-watches, born of true necessity and become an emblematic piece.
Lot 864 : Patek Philippe, ref. 2438/1, pink gold wristwatch, sold for 582 948 $ USD. It is estimated that overall production was extremely limited, probably stopping at just over 10 pieces.
BEST PERFORMANCES
Lot 801 : Omega, ref. 31132423004001, that is 703% variation between the low estimate and the final result (15 248 $ USD).
Lot 843 : Edouard Juvet, or 657% variation between the low estimate and the final result (160 503 $ USD).
Lot 982 : Patek Philippe, or 550% variation between the low estimate and the final result (13 643 $ USD).
BREAKDOWN BY BRANDS
Patek Philippe
On the first step of the podium, with four watches having exceeded the bar of 400 000 $ USD, average per lot 95 616 $ USD.
Rolex
On the second step of the podium, with two lots above 500 000 $ USD, average per lot 91 939 $ USD. A result based on the highest bid of the sale with lot 953.
Richard Mille
On the third step of the podium, with a watch having exceeded the 200 000 $ USD bar, average per lot 127 600 $ USD.
These three brands represent a total revenue of 12 741 879 $ USD, or nearly 80% of the total sale.
AVERAGE PRICE PER LOT
Based on the number of lots, 231 in total, including 15 unsold lots, the average price of a lot was 74 089 $ USD.
CONCLUSION
As usual, Rolex and Patek Philippe brands are on the first two steps of the podium in a market in Hong Kong that achieved very strong results since the beginning of the year. Note also the presence of the Richard Mille brand, which is undoubtedly one of the most dynamic recent sales for independent Swiss watchmakers.
