Patek Philippe/Bloomberg

LIFESTYLE

Rare 1950s Patek fetches $7.7 million at Christie’s in Hong Kong

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Auctioneers are increasingly offering prestigious lots in Asia to tap demand by collectors in greater China, the world’s largest market for Swiss watches.
SUNDAY 24, NOVEMBER 2019

A rare 1950s Patek Philippe timepiece sold for a hammer price of HKD 60 million ($7.7 million) in a Christie’s auction in Hong Kong that took place amid rising tensions as protests rage in the city, scaring off many high-end shoppers, reported Bloomberg.

The 18-carat pink gold Patek Philippe has a rare translucent blue enamel dial and is known by the name of the 177-year-old Milan-based shop where it was sold, Gobbi. According to Christie’s, the price estimate was $7 million to $14 million, one of the highest for any wristwatch offered in an auction.

Christie’s set a record price for a wristwatch in auction when it sold a one-of-a-kind steel Patek Philippe Grandmaster Chime earlier this month for $31 million at a charity sale in Geneva.

TAGS: Patek Philippe Gobbi Christie
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