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Patek Philippe Gold Chronograph Brings $137,500 To Lead Heritage’s Watches & Fine Timepieces Auction

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Published
12/05/2024 by

A fresh-to-market Patek Philippe, Important Ref. 3970/E Gold Chronograph, Perpetual Calendar And Moon Phases, Second Generation, Full Set, circa 1990  sold for $137,500 November 20 to lead  Watches & Fine Timepieces Signature ® Auction to $3,315,568.

The top lot in the 404-lot event, which boasted a sell-through rate of 98 percent, is a masterpiece representative of the exacting standards set forth by one of the world’s premier watch makers. It previously was owned by a significant 20 th-century collector before heading to the auction block at Heritage.

“This was an exceptional auction, with extraordinary pieces by many of the finest watch makers in the world,” says Jim Wolf, Director of Watches & Fine Timepieces at Heritage Auctions. “Our bidders are some of the most sophisticated and knowledgeable in the world, and they were able to find magnificent watches to add to collections at every level.”

Another beauty from Patek Philippe, a Very Fine White Gold & Diamond Nautilus, Ref. 5713/1G-010, Full Set, circa 2010 , roared past pre-auction estimates after 21 bids poured in on its way to $96,875. The 40mm case features a bezel with 48 factory diamonds.

Another fresh-to-market prize that found a new home in the auction was a Rolex, Extremely Rare GMT-Master, Ref. 1675 Retailed By Cartier Circa 1968  that drew a winning bid of $75,000. What set this lot apart, and generated elevated demand among bidders, is the fact that it is one of the rare examples with the “Cartier” name on the black dial. It was consigned by the family of the original owner.

When the hammer fell for the final time on a Patek Philippe, Ref. 5070G-001, Unused Double Sealed, White Gold Chronograph, Circa 2008 Full Set  brought $68,750. Upon its launch in 1998, the Ref 5070 was the first simple (or non-perpetual) chronograph made by Patek Philippe since the Ref 1463 was discontinued in the late 1960s. Initially launched only in yellow gold with black dial, the white gold variant was launched in 2001. This watch was produced at the end of the production cycle in 2008 and must be one of the only remaining double factory sealed, untouched examples from the sub 1000 production total.

Also selling for $68,750 was a Rolex, Rare As New Ref. 16520 “Patrizzi Dial” Steel Oyster Perpetual Cosmograph Daytona, circa 1995 Full Set , on which the dial is named after Osvaldo Patrizzi, the kingpin who started watch collecting in the 1990s. The subsidiary dial rings underwent a significant change in color, from white to deep copper. Patrizzi, who  began his career in watches at just 13 years old in Milan and later established an auction house dedicated to watches, clocks and objects of vertu , was the first to notice the transition, thereby earning the honor of having the dial named after him.

A third watch that reached the same $68,750 plateau was a Rolex, Extremely Rare Ref. 6098 “Stelline” Honeycomb Dial, Oyster “Pre-Explorer,” 18k Gold, With Papers, Circa 1953 . Also known as the “big bubbleback” and “pre-explorer,” Ref. 6098 has been popular among vintage Rolex collectors for its size and appearance. Created during the 1950s, a decade marked by experimental creativity at Rolex, none of which was more exclusive and desirable than the honeycomb “Stelline” dial.

More than a dozen bids came in for a Rolex, 18k White Gold Blue “Beach Daytona” Ref. 16519 Circa 2000s with Original Box  before it closed at $62,500. An automatic attention grabber because of its vibrant blue color, it features a 40mm, 18k white gold case around a vibrant blue lacquer dial with applied hour indices and luminous baton hands.

A Rolex, Rare Ref. 6538 “Big Crown” Submariner , circa 1957 reached $57,500. The stainless steel case houses a gloss black dial with a gilt minute track and Rolex Oyster Perpetual Submariner in gilt lettering, along with luminous indexes and skeleton hands and a large “lollipop” center seconds hand.

A Breguet Ref. 3755 Gold Classique Grande Complication Tourbillon Perpetual Calendar Box and Papers  ended at $52,500. The 41 mm 18k rose gold with a fluted rim contains a skeleton dial in silvered 18 carat gold with Roman numeral hour chapters, retrograde date, day, month and leap year indicators, with constant seconds on the tourbillon axis and Breguet moon hands. The open-face style allows a spectaular view of the inner mechanics of this magnificent watch.

Another colorful treasure in the auction, a Rolex, 18k White Gold Pink “Beach Daytona” Circa 2000s with Original Box , with a mother of pearl dial in a 40mm 18k white gold case, sold for $50,000. 

Other top results included, but were not limited to:

Complete results from the auction can be found at HA.com/5563.

 

Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, Chicago, Palm Beach, London, Paris, Amsterdam, Brussels, Munich, Hong Kong and Tokyo.

Heritage also enjoys the highest Online traffic and dollar volume of any auction house on earth (source: SimilarWeb and Hiscox Report). The Internet’s most popular auction-house website, HA.com, has more than 1,750,000 registered bidder-members and searchable free archives of more than 6,000,000 past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit. 

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