This Patek Philippe Ref. 2499 sold for $867,750 at last week's Antiquorum sale in NYC.
Last week’s series of luxury watch auctions by the finest auction houses, such as Christie's, Sotheby’s and Antiquorum, leave us ecstatic about the ever-increasing interest in watch collecting. All indications point to the fact that today’s watch buyer may well be purchasing not only an heirloom timepiece, but also a great investment watch. Among the standouts that sold last week and made headlines around the world were several incredible Patek Philippe timepieces (a brand we are proud to carry in our store).
At the Antiquorum “Important Modern & Vintage Timepieces” sale in New York, a Patek Philippe Ref. 2499 sold for $867,750. The extraordinary watch (lot 274) is an extremely rare Second Series with tachometer scale and Arabic indexes. Additionally, Lot 273 was another Patek Philippe, Ref. 3450, that stole attention. Circa 1984, the perpetual calendar watch with leap year display is crafted in 18-karat yellow gold. It sold for $189,750.
“Rare vintage Patek Philippe timepieces continue to command top prices at auction,” said Saori Omura, Watch Director of Antiquorum New York. “As confirmed by our December sale in New York, collectors are willing to pay a premium for unusual dials and fresh to the market pieces.”
The Sotheby’s Important Watches sale in New York fetched $7.2 million, bringing the auction house’s worldwide watch sales to $100 million for 2014. One of the top sellers there was a highly important (possibly unique) 18-karat yellow gold open-faced Perpetual Calendar with split-seconds chronograph minute repeater with moon phases and black dial.
Ref. 658 was made in 1937, and while it was estimated to sell from $200,000 to $400,000 it actually sold for $527,000. While 15 of this watch were originally made, this is believed to be the only one with a black dial. Yes, Patek Philippe watches are definitely a good investment.