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24 November 2019

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

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

Patek Philippe/Bloomberg

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.

RELATED STORIES: Patek Philippe Gobbi Christie





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