In a recent $3.6 million Antiquorum sale of fine timepieces and jewelry, a Patek Philippe Ref. 5971 proved why it is “top of the market,” as the house put it. For starters, the watch has more complications than Bayer has aspirin. Begin with a perpetual calendar and a square button chronograph, then add 24-hour indication, moon phases and a tachometer.
MORE: The solid platinum case back and platinum buckle, which is set with diamonds, are elegant. Gems on the buckle are calibrated while those surrounding the dial (the bezel) are matched baguettes.
SMART COLLECTORS KNOW: At the very top, exclusivity centers on model name and number.
HOT TIP: The timepiece sold with its original fitted box, certificate of origin, and setting pin. At this level, paperwork is vital and adds to salability.
BOTTOM LINE: Though specific Rolex and Firemark watch sells high, fine Patek Philippe wristwatches have led the secondary market for decades. In this sale, international bidders also pushed values high on watches by Franck Muller, Richard Mille and Chopard.
FYI: When Sotheby’s London recently announced the highest result ($240.8 million) for any London auction, ever, was it surprising that no buyer in the top 10 was identified by name? “Anonymous” and “private collector” led the buyers, including a Gustav Klimt painting, “Bauerngarten,” for $59.3 million.
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