Phillips in Association with Bacs & Russo set a new world record for a Patek Philippe reference 5002 in Hong Kong this week with a white gold double-dialed astronomical wristwatch with special dial selling for $2.3 million.
Seven of the top ten highest prices paid were for Patek Philippe models, while the remaining three were from Rolex.
A Pre-Daytona Rolex Ref. 6238 went for a record $525,258 and a Patek Philippe reference 770/3 in yellow gold also a highest price ever at auction of $367,425.
Aurel Bacs, Senior Consultant and Auctioneer, was delighted that the hysteria around the auctions in Geneva earlier in the month, including the world record price paid for a Patek Philippe watch at the Only Watch charity auction had not taken too much heat out of the market.
“Following our blockbuster sales in Geneva, the Hong Kong Watch Auction: NINE achieved an impressive result. Within the top 10, there are several world records for different references by both Patek Philippe and Rolex, showing the diversity of the market and the determination of the international watch community to compete for the finest timepieces. In addition, today we have celebrated two world records for Patek Philippe Nautilus references, a great tribute to the late Gérald Genta, and that has been further reinforced by a unique and rare platinum Gerald Genta (Lot 1002) achieving seven times its pre-sale high estimate, showing how much collectors appreciate his work. We are very much looking forward to the Game Changers sale on 10 December in New York.”