Auction New York 7 October 2009 results
Wednesday, 07 October 2009 00:00

PRESS RELEASE

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October 7, 2009
Important Pocket Watches, Vintage & Modern Wristwatches

Patek Philippe Sky Moon Tourbillon sells for $1.2 million
at October 7 New York auction

At the October 7, 2009 Patrizzi & Co auction in New York, a Patek Philippe Sky Moon Tourbillon, Ref. 5002, sold for $1.2 million, the most paid for a wristwatch since the economic recession. Purchased by a customer in Europe, the 18k yellow gold double-faced wristwatch features a black dial, a rare metal-color combination. Sales in the auction totaled $3,230,700.

"In the current global recession, this $1.2 million sale result is extraordinary," said Osvaldo Patrizzi, chairman and CEO of Patrizzi & Co. "This auction demonstrates that while demand for mid-level watches for collectors is softening, extraordinary, very rare, limited-edition pieces are still in demand and in some occasions increasing in value. Other than the Sky Moon Tourbillon, the most important watches of the sale were purchased by customers in Taiwan, Hong Kong and China."

About 50 people attended the auction with another 45 people bidding by Internet, and 60 by phone and absentee bid.

Osvaldo Patrizzi founded Patrizzi & Co in 2008 with the goal to innovate the horological auction market, by eliminating the buyer's commission and other fees and simplifying the auction process. A Patrizzi & Co horological expert carefully examines and evaluates every timepiece it offers for sale, which is then accompanied by a five-year guarantee of authenticity.



Highlights of the sale

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Lot 187
Patek Philippe Sky Moon Tourbillon, Ref. 5002 – the most complicated Patek Philippe wristwatch.
Patek Philippe Genève, Ref. 5002J-010, case no. 4287163, movement no. 3350020, sold on December 17, 2004.
18k yellow gold, double-faced, tourbillon regulator wristwatch with 12 complications, including perpetual calendar, retrograde date, day of the week, leap-year cycle, month, moon age, minute repeater with cathedral gongs and tourbillon movement, sidereal time and sky chart. Accompanied by original fitted box, setting pin, official Swiss chronometer certificate, and Certificate of Origin.
SOLD for $1,200,000 (American record $1,240,000 set in 2007)

Lot 193
Patek Philippe Commemorative Minute Repeater, Ref. 5079.
Patek Philippe Genève, Ref. 5079 J-010, minute repeater wristwatch, case no. 4261702, movement no. 1904150, sold on December 1, 2004. 18k yellow gold, large, minute-repeating, self-winding gentlemen’s wristwatch with cathedral gongs, 48-hour power reserve, interchangeable back, original box and papers. Made in a limited series of five examples in 2004 for the 50th anniversary of George Pragnell Jewellers in Stratford-Upon-Avon, England.
SOLD for $360,000
Lot 195
Vacheron Constantin Skeleton Minute Repeater, Ref. 30030
Vacheron Constantin, Ref. 30030, case no. 633178, movement no. 812609, made in 1996. 18k pink gold, minute-repeating, gentlemen’s wristwatch with original box, Certificate of Authenticity and booklet. Production was limited to 200 examples in pink gold. Caliber 1755, named in honor of the year Vacheron Constantin was founded, was introduced in 1993. At 3.28 mm thick, the caliber is the world’s thinnest minute repeater.
SOLD for $280,000
Lot 190
Patek Philippe set of four Calatrava wristwatches with "Birds of Paradise" cloisonné enamel dials, Ref. 5075.
Patek Philippe, Genève, Ref. 5075G, 18k white gold wristwatches, each featuring a different species of tropical bird. Manufactured in limited edition of 15 sets in 2001 and purchased in 2004; accompanied by Certificates of Origin.
SOLD for $165,000
Lot 194
Patek Philippe set of four Gondolo wristwatches with "Barques" cloisonne enamel dials, Ref. 5076.
Patek Philippe, Genève, Ref. 5076P, platinum wristwatches, each featuring a different sailboat on the dial. Manufactured in a limited edition of 10 sets in 2004 and purchased in 2004. Accompanied by Certificates of Origin and fitted box.
SOLD for $155,000
Lot 201
Patek Philippe yellow gold Chronograph, Ref. 1463, with two-tone dial.
Patek Philippe, Genève, Ref. 1463J, case no. 653476, movement no. 867442; made in 1948, sold on June 14, 1949.
18k yellow gold, water-resistant, gentlemen’s wristwatch with round-button chronograph, tachometer, 30-minute register, and accompanied by an Extract from the Archives.
SOLD for $92,000
Lot 111
Patek Philippe, pink gold Perpetual Calendar with retrograde date, Ref. 5050.
Patek Philippe, Genève, Ref. 5050R, case no. 2998720, movement no. 1957726, made in 1996, sold on May 5, 1998. 18k pink gold, astronomic, self-winding, water-resistant, center-seconds, gentlemen’s wristwatch with perpetual calendar, phases of the moon, leap year indication, months, days of the week, retrograde date, and accompanied by an Extract from the Archives.
SOLD for $77,000
Lot 191
Vacheron & Constantin, Genève, Gerard Mercator 1594-1994, Ref. 43050.
Vacheron & Constantin, Genève, Gerard Mercator 1594-1994, Ref. 43050, case no 674976, made in a special edition launched in 1994 to commemorate Britain’s handover of Hong Kong to China, dial by Lucie & Jean Genbrugge, completed on July 1, 1997. 18k yellow gold, self-winding, water-resistant, gentlemen’s wristwatch with multicolored cloisonné enamel dial representing the People’s Republic of China with double retrograde sectors graduated for 12 hours and 60 minutes.
SOLD $49,000