Fine watches - Hong Kong auction could break price records

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07 September 2012

The Sotheby's Hong Kong Important Watches Autumn Sale will be held on 8 October 2012 at the Hong Kong Convention and Exhibition Centre. The most valuable piece in the sale will be a Patek Philippe Sky Moon Tourbillon, similar to a watch that set a world record auction price at the Sotheby's sale in Hong Kong in 2008. This year's event will comprise over 420 lots, with a pre-sale estimate of US$11.4-16 million. The lots include famous brands such as Patek Philippe and Cartier, as well as independent manufacturers that are less frequently seen at auction, such as F.P. Journe, Gruebel Forsey and MB&F.

The Patek Philippe platinum double dialled wristwatch with 12 complications is a reference made in 2010, one of the last of this model to be made (it was discontinued in late 2011) and one of the very few in this limited edition. It was a watch reserved for Patek Philippe's elite clientele, who were permitted to purchase it only after an interview! Feted as the world's most complicated wristwatch, its complications include minute repeater, tourbillon, perpetual calendar, retrograde date, sky chart, moon phases, orbit display and sidereal time. In 2008, a watch of this type (reference 5002P) was auctioned for US$ 1,503,839. The estimate for the piece at this year's auction is US$1.03-1.54 million.

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