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Patek Philippe Watch Sold for Millions at Auction

May 29, 2010 by Administrator · Leave a Comment 

Sell-My-Patek-PhilippeSan Diego watch enthusiasts will be glad to hear that rare timepieces continue to command top prices on the international market. A Patek Philippe perpetual calendar chronograph wristwatch went for nearly 6.26 million Swiss francs ($5.86 million) at a recent Christie’s auction. It was sold to a Swiss private museum and set a record for the highest price paid for a yellow gold watch sold at auction, according to Christie’s.

The 1943-44 watch features an avant-garde case design and was a forerunner for future generations of complicated wristwatches. It was sold as part of a 20-piece collection put up by an anonymous seller.

“I started buying watches in the 1970s, at a time when these amazing objects appealed to very few collectors and even fewer scholars were exploring this charming field. In my opinion, wristwatches are the most beautiful wearable item created in the 20th century,” Christie’s quoted the anonymous seller as saying.

Aurel Bacs, international co-head of Christie’s watch department, called it the “Mona Lisa of all watches.”

“European bidders were fiercely challenged by international collectors, especially buyers from China,” he said of the sale.

The name of the museum wasn’t revealed, but Geneva is home to a Patek Philippe museum, which contains the best pieces made by the independent watchmaker. The entire collection netted 16 million Swiss francs, making it the most expensive private collection of watches ever sold.

Swiss Watchmaker: Patek Philippe

August 31, 2009 by Administrator · Leave a Comment 

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The old company saying at watchmaker Patek Philippe is that “You never actually own a Patek Philippe. You merely look after it for the next generation.” And most “owners” of a Patek Philippe wristwatch would agree. The family-run watch company based in Geneva is truly in a class of its own. Established in 1839, the company has fashioned such highly sought after watch collections as Calatrava, Ellipse, Nautilus, Gondolo, Aquanaut, and Twenty~4.

Known worldwide for its complicated watches and its timeless elegant designs, Patek Philippe has been producing timepieces cherished by monarchs, popes, political leaders, and rulers since the reign of Queen Victoria. It all started in 1851, when Victoria acquired a key-wound Patek Philippe watch created in a pendant style during the Great Exhibition of London. Soon Patek Philippe was regularly supplying its watches to her Majesty and her consort, including one exclusive timepiece that was suspended from a diamond and enamel brooch to be worn pinned to the Queen’s clothing.

Victoria’s fascination with Patek Philippe quickly attracted the attention of all the royal courts of Europe. The Swiss company began creating timepieces for such notables as Pope Pius IX, Christian IX and Louise (the king and queen of Denmark), Victor-Emanuel III (king of Italy and Duke of Savoy), and Hussein Kamal (prince of Egypt in the period of 1914-1917).

For its 150th anniversary in 1989, Patek Philippe created one of the most complicated mechanical watches ever made, the Calibre 89. This amazing timepiece holds 33 complications, including the date of Easter, a thermometer, time of sunrise, equation of time, sidereal time, and many other indicators. 1,728 unique parts allow for sidereal time, a 2,800 star chart, and much more.

Today, vintage Patek Philippe wristwatches regularly command the highest prices at watch auctions around the globe, some selling for well over US $1 million. If you are lucky enough to be in the possession of a Patek Philippe watch take care of it very well for the next generation of your family. And should you ever decide to sell one be sure to go to an experieced watch buyer who understand the full worth of these mechanical works of art.

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