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NFT of a Patek Philippe Nautilus 5711 put up for auction

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It was only a matter of time. Since you cannot buy a 5711 without mortgaging your granny, somebody was going to try to sell you a virtual avatar of the Patek Philippe of your dreams.

So it has come to pass with a London-based business offering what it claims is the first ever NFT of a watch from the brand.

The phrase caveat emptor springs to mind.

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The Nautilus is owned by an individual in the Middle East, but its NFT will be auctioned on a platform called SM-ART this month.

The date of the auction is yet to be announced.

“When we were approached by the owner to help him create an NFT for his Nautilus watch, we jumped at the opportunity,” said Danny Sangha, co-founder of SM-ART.

“Our entire mission for this platform is to bring fine art, rare collectibles and objets d’art back into the world again. So many beautiful pieces sit in vaults hidden away from pubic view, never seen and never appreciated. We wanted to discover a way to breathe life back into these works of art through a new medium. NFTs are a way to do that, a way for people to be able to enjoy and own these pieces through a digital construct.”

As Patek Philippe phases out the 5711 (creating an even more hyped green version as its swansong), owning a digital record of the watch might be the closest collectors or investors can come to owning one.

“SM-ART has proven that NFT’s have a place in the luxury world and we are especially proud that we’re pioneers in this new digital field,” says Robina Latham, co-founder of SM-ART.

“It’s incredibly important to us that each NFT is carefully curated, selected and verified by our experts. We work with private collectors, artists, museums and galleries to ensure these NFT’s are based on the real artworks or a new original piece is conceived by the artists themselves. This NFT of the Patek Philippe ‘Nautilus’ is a case in point – the response we’ve received so far has been overwhelming and we are excited to see this NFT make history at auction.”

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