POST-SALE RELEASE: Patek Philippe 175

Geneva

Patek Philippe 175 

Standing ovation for a sale total of
$19,7Million / SFr. 19,4Million

Christie’s Geneva Thematic Auction to Celebrate the

175th Anniversary of Patek Philippe

 Geneva – On 9 November, Christie’s Geneva esteemed evening auction, Patek Philippe 175, realised a total of SFr. 19,367,000/$19,731,099, selling 98% by lot and establishing 9 new world auction records, after a 3 hour bidding battle for the majority of the lots. The average price paid for any of the lots tonight reached nearly SFr. 200,000.This themed auction of 100 wrist and pocket watches offered only the most important and historic examples to illustrate the breadth of the world’s foremost watchmaker, Patek Philippe, upon their 175th anniversary.

All 125 seats in the sale room were already reserved 48 hours ahead of the auction and over 300 collectors and watch enthusiasts attended the event. The highest total of registrants for any watch sale ever at Christie’s was achieved when 320 clients registered for bidding from across the world. The sale attracted interest from a total of 30 countries.  

The top lot of the evening was a pink gold Reference 2499 First Series, which sold for SFr. 2,629,000 / US$2,678,425. Manufactured in 1951, this First Series of the Reference 2499 was one of only four examples in pink gold known to the market.

John Reardon, International Head of Christie’s Watch department, proudly commented: “This sale has exceeded our expectations in every way. With 69 lots sold above estimate, this sale sets a new benchmark for thematic sales and shows the amazing strength of the Patek Philippe market. On a personal level, I cannot overstate how impressed I am with the Christie's international team in their commitment to making this sale a success as well as the passion and energy of the watch collecting community in participating in this sale. Collectors swarmed the room in a fury of excitement to earn the right to own one of the 100 watches on offer. Our team was particularly impressed by the performance of the 2499 First series sold for an impressive SFr.2,629,000. Also, the reference 530 manufactured in 1939 realised SFr. 593,000 against a presale estimate of 200,000-400,000”.

Christie’s Geneva will continue with the auction of Important Watches on 10 November at 10:00 am and 2:30 pm. 

PRESS CONTACTs

Alexandra Kindermann  | +33 1 40 76 84 08| AKindermann@christies.com

Beverly Bueninck  | +33 1 40 76 84 08 | BBueninck@christies.com

Gabriel Ford | +1 212 492 5704 | GFord@christies.com

About Christie’s

Founded in 1766, Christie’s is a world-leading art and luxury business. Renowned and trusted for its expert live and online auctions, as well as its bespoke private sales, Christie’s offers a full portfolio of global services to its clients, including art appraisal, art financing, international real estate and education. Christie’s has a physical presence in 46 countries, throughout the Americas, Europe, Middle East, and Asia Pacific, with flagship international sales hubs in New York, London, Hong Kong, Paris and Geneva. It also is the only international auction house authorized to hold sales in mainland China (Shanghai).

Christie’s auctions span more than 80 art and luxury categories, at price points ranging from $200 to over $100 million. In recent years, Christie’s has achieved the world record price for an artwork at auction (Leonardo da Vinci’s Salvator Mundi, 2017), for a 20th century artwork (Andy Warhol’s Shot Sage Blue Marilyn, 2022) and for a work by a living artist (Jeff Koons’ Rabbit, 2019). Christie's is also recognised as a reference for prestigious single owner collections, having auctioned 8 of the 10 most important collections in history.

Christie’s Private Sales offers a seamless service for buying and selling art, jewellery and watches outside of the auction calendar, working exclusively with Christie’s specialists at a client’s individual pace.

Recent innovations at Christie’s include the groundbreaking sale of the first NFT for a digital work of art ever offered at a major auction house (Beeple’s Everydays, March 2021), with the unprecedented acceptance of cryptocurrency as a means of payment. As an industry leader in digital innovation, Christie’s also continues to pioneer new technologies that are redefining the business of art, including use of hologram technology to tour life-size 3D objects around the world, and the the creation of viewing and bidding experiences that integrate augmented reality, global livestreaming, buy-now channels, and hybrid sales formats. 

Christie’s is dedicated to advancing responsible culture throughout its business and communities worldwide, including achieving sustainability through net zero carbon emissions by 2030, and actively using its platform in the art world to amplify under-represented voices and support positive change.

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