RAPAPORT… A one-of-a-kind Patek Philippe watch with a Tiffany Blue dial achieved a record at a recent Phillips auction, bringing in the highest price ever for a timepiece sold online.
The special Nautilus ref. 5711, created to commemorate the 170-year partnership between Patek Philippe and Tiffany & Co., fetched $6.5 million at the 2021 New York Watch auction, Phillips said Sunday. All proceeds from the sale of the timepiece — which was also the most expensive item to sell online in any Phillips auction — will be donated to The Nature Conservancy.
In total, the auction garnered $35.9 million, with all of the goods on offer finding buyers. Those figures make the sale the most successful watch auction in US history, Phillips noted. It also marks a 100% sold-out year for watch sales at Phillips, which is a first for any auction house, Phillips added.
“Kicking off the sale was one of the most important watches I’ve ever had the privilege of auctioning — the highly coveted Patek Philippe Nautilus Ref. 5711 with Tiffany Blue dial,” said Phillips senior consultant Aurel Bacs. “The enthusiasm we saw in the lead-up to the sale…is a testament to the enduring legacy of 170 years of partnership between Patek Philippe and Tiffany & Co. We are grateful to all those who helped make this extraordinary result possible, especially to the many people around the globe who raised their paddles on such a momentous occasion.”
In January, Patek Philippe announced it would discontinue production of the Nautilus Ref. 5711, making the watches currently in circulation even more valuable.
Other notable items included a George Daniels Tourbillon pocket watch, which achieved $1.7 million, and a Rolex Ref. 6241 Cosmograph Daytona Paul Newman “John Player Special,” which sold for $1.2 million. Both beat their high estimates. Meanwhile, an Omega Speedmaster timepiece, which had belonged to American author Ralph Ellison, brought in $667,800, more than 30 times its upper valuation.
“Across two days, we saw tremendously spirited bidding from nearly 75 countries, leading to game-changing prices for vintage and modern wristwatches alike,” said Paul Boutros, head of watches for the Americas at Phillips.
Image: The Patek Philippe watch with the Tiffany blue dial. (Phillips)
