Over the past weekend, Christie's new Asia-Pacific headquarters, The Henderson, was buzzing with activity throughout the bustling schedule of the auction house's Inaugural Luxury Auctions. On Sunday (27 October) afternoon, it was the Important Watches: Featuring "The Collectibles" Part 2 Sale that took the spotlight.
After six long hours of bidding, the auction gathered a total of HK$190 million (around US$24.4 million). Among the 270 timepieces on offer, two pieces commanded prices surpassing HK$10 million each. One of them was a vintage Patek Philippe, ref. 1518, which became the top lot of the sale at a final price with fees of HK$19.13 million (around US$2.5 million).
This particular timepiece stands as the only known example of a ref. 1518 bearing the inscription "FAB. SUISSE," with the calendar discs featuring the French calendar system, indicating its tailored creation for the French market.
Lot 2475 | Patek Philippe | Ref. 1518, only known "FAB. SUISSE" | 18k pink gold perpetual calendar chronograph writstwatch with moon phases and French calendar
Manufactured in 1951
Estimate: HK$16,000,000 - 32,000,000
Hammer Price: HK$15,500,000
Sold: HK$19,130,000 (around US$2.5 million)
Perhaps the holiest of grails for vintage timepiece collectors, Patek Philippe's ref. 1518 is a symbol of the "golden age" of mid-20th century watchmaking and a milestone watch in horological history: it is the first ever wristwatch powered by a serially produced perpetual calendar chronograph movement – a ground-breaking feat considering the tiny size of the watch's case.
Launched during the middle of the Second World War, in 1941, the reference could be categorized into two series based on case details. The one on offer at Christie's belongs to the second series produced between 1946 and 1953, with the case crafted by Geneva Master case maker Emile Vichet and the dial by celebrated artisan Stern Frères. Compared with the first series, the second features slimmer lugs, a larger crown, and lower-set chronograph pushers.
During a short 14-year production run, only 281 examples were ever made, making it one of the rarest of all Patek Philippe wristwatches. Of these meager pieces, the majority were cased in yellow gold, a handful in stainless steel, and no more than 60 in pink gold, with only 46 identified. Among all those, the present lot is the only example with "FAB. SUISSE" dial known to have survived.
Unlike other 1518s with a double-signed dial, "FAB. SUISSE" does not represent a retailer like "Tiffany & Co." or "Gobbi Milano" but rather signifies "Fabrique Suisse", French for "produced in Switzerland", a mark seen only on watches exported to France.
It was due to an 1892 French law that prohibited any imports of goods that could mislead consumers into thinking they were made in France. To further strengthen the regulation, around 1936 it was updated that the marking for horological products must be placed as close as possible to the make itself, usually immediately below. Only small watches, where space's not allowed, could have it below the 6-hour marker.
At the time, France was a relatively small market; coupled with ref. 1518's limited production scale, having one imported there was rare. Over time, as France gradually loosened the policy under European integration, watchmakers were allowed to use English terms such as "Swiss made", which many preferred for easier global sales, making timepieces with a "FAB. SUISSE" mark extremely rare finds.
Besides the "FAB. SUISSE" designation beneath the moon phase, all other necessary French import marks are stamped on the back, including the "double-owl" French import mark and the mark of Guillermin & Mollet, the French official importer. Naturally, the calendar discs are in French.
Lot 2417 | Richard Mille | Ref. RM018, A unique 18k white gold tonneau-shaped skeletonised tourbillon wristwatch with lapis lazuli-set wheels, made to commemorate the 150th anniversary of Boucheron
Manufactured circa 2010
Estimate: HK$4,000,000 - 8,000,000
Hammer Price: HK$9,600,000
Sold: HK$11,991,000 (around US$1.5 million)
Taking second place was Richard Mille's ref. RM018, a special model made to commemorate the 150th anniversary of the Parisian jeweler Boucheron in 2008. After fierce bidding, this unique piece sold for nearly HK$12 million (around US$1.5 million) against a high estimate of HK$8 million.
Despite its short history of fewer than 30 years, the independent watchmaker Richard Mille has ascended to the ranks of top watch brands through innovative design, pioneering materials, and exceptional marketing strategies.
Unfettered by costs, the brand employs cutting-edge materials such as carbon fiber and titanium to craft high-end sports watches capable of enduring extreme conditions. In 2001, Richard Mille unveiled its inaugural timepiece, the RM001, distinguished by a distinctive barrel-shaped case, an in-house tourbillon movement, and color schemes tailored for a younger demographic, causing a stir at the Baselworld watch fair.
This particular RM018, made circa 2010, two years after the reference's launch, features a case deeply engraved with vertical ridges as a nod to the iconic Reflet watch by Boucheron, while the crown is in the style synonymous with the Maison’s haute joaillerie.
The iconic Reflet watch was introduced by Boucheron in 1947
The reference also marks Richard Mille's premiere incorporation of a movement made with sapphire crystal plates, an incredible achievement. The know-how gained during the production of the RM018 later proved invaluable in producing the extraordinary crystal watches RM056 and RM56-01.
Also notable for its movement is the wheels set with an array of natural mineral materials such as tiger's-eye, jasper, black onyx, and diamonds, all of which can be seen through the skeletonized dial. The technique required to create such a watch involves a high level of mathematical modeling and precision in handcrafting its wheels.
A number of different versions were produced in the limited edition of 30, and the RM018 up for auction this time is a unique piece fashioned from lapis lazuli.
Lot 2354 | Patek Philippe | Ref. 5074/1R-010 | A possibly unique 18k pink gold automatic "cathedral" minute repeating perpetual calendar wristwatch with moon phases, 24 hour, leap year indication and bracelet, single sealed
Manufactured circa 2019
Estimate: HK$5,000,000 - 10,000,000
Hammer Price: HK$5,000,000
Sold: HK$6,300,000 (around US$811,000)
Tied for third place were two contemporary Patek Philippes, both fetching HK$6.3 million (around US$811,000) with fees. The first was a pristine, factory-sealed Ref.5074/1R-010 "Cathedral" minute repeating perpetual calendar wristwatch – the first example ever seen with a factory-fitted bracelet.
Embracing new watchmaking technologies while retaining Patek Philippe's classical design, the ref. 5074 launched in 2001 is a prime example of the brand's "Modern Classic" concept in the new millennium.
Aesthetically, it seamlessly blends design traits inherited from classic references such as 1518 and its celebrated successor 2499. The dial with its three subsidiary counters and no windows obviously looks back at the balanced design of perpetual calendars of the past century. The lugs as well are unmistakably inspired by ref. 2499, with the outer top edge of each sculpted with a subtle groove.
Technically, ref. 5074 incorporates Patek Philippe's legendary "Cathedral" minute repeating mechanism, a complication consisting of gongs and hammers that chimes the time when a push or a slide-piece activates. Whereas the simple quarter repeater merely strikes the number of hours and quarters, the minute repeater, as its name suggests, chimes the time down to the minute, with three different tones for hours, quarter-hours, and minutes.
The present lot is in its original packaging
Thierry Stern, President of Patek Philippe
In a standard repeating mechanism, the length of the gong would correspond to almost precisely one turn in the movement. Those of the "Cathedral" mechanism, however, would exceed the case circumference by at least one and a half, even two turns, resulting in a much richer and fuller timbre resembling the chime of the bells of a grand cathedral.
To ensure the sound offers a pleasing acoustic experience akin to that of a musical instrument, each Patek Philippe minute repeater has to pass rigorous acoustic testing before leaving the manufacture, and Patek's President Thierry Stern would by ear verifies and certifies the sound quality.
Lot 2346 | Patek Philippe | Ref. 5980/1400R-012, A possibly unique 18k pink gold and diamond-set automatic flyback chronograph wristwatch with date, bracelet and red 60-minute chronograph count hand
Manufactured circa 2018
Estimate: HK$4,000,000 - 8,000,000
Hammer Price: HK$5,000,000
Sold: HK$6,300,000 (around US$811,000)
At the same selling price of HK$6.3 million (around US$811,000) was the diamond-studded Nautilus model 5980/1400R-012 in pink gold.
The Nautilus undeniably stands out as one of Patek Philippe's most coveted sports watch models in recent years, with both the basic model 5711 and various iterations incorporating diverse complications and materials consistently commanding high prices at auctions.
The ref. 5980/1400R-012 auctioned at Christie's this time showcases a pink gold case with the bezel and central links adorned with 182 baguette white diamonds of D to G colour weighing approximately 15.46 carats, and a further 893 pavé-set brilliant cut diamonds weighing approximately 4.468 carats. The overall combination of pink gold case and bracelet coupled with over 1000 dazzling diamonds produces a remarkable visual spectacle.
A distinctive characteristic of this watch is the vibrant red hand for the 60-minute register. To date, there are no other known examples of this reference with a red register hand.
Other Highlight Lots:
Lot 2242 | F.P.Journe | Octa Chronographe, An extremely rare platinum limited edition automatic flyback chronograph wristwatch with date, made for Swiss Fine Timing
Manufacture circa 2008
Limited edition of 7 pieces
Estimate: HK$1,800,000 - 3,600,000
Hammer Price: HK$3,500,000
Sold: HK$4,410,000
Lot 2246 | Greubel Forsey | Invention Piece 2 Model, An extremely platinum limited edition asymmetrical wristwatch with differential quadruple tourbillon, power reserve, and wandering minutes
Number 1 out of 11 pieces
Estimate: HK$2,200,000 - 4,400,000
Hammer Price: HK$2,600,000
Sold: HK$3,276,000
Lot 2353 | Patek Philippe | Ref. 7000/50R-010, A lady's very rare 18k pink gold limited edition automatic minute repeating wristwatch with enamel dial
Manufactured circa 2020
Estimate: HK$2,200,000 - 4,400,000
Hammer Price: HK$2,500,000
Sold: HK$3,150,000
Lot 2465 | Patek Philippe | Ref. 3970EG, A rare 18k white gold perpetual calendar chronograph wristwatch with moon phases, 24 hour and leap year indication
Manufactured circa 1992
Estimate: HK$800,000 - 1,600,000
Hammer Price: HK$2,500,000
Sold: HK$3,150,000
Lot 2294 | F.P.Journe | T30, A very rare 18k pink gold and silver limited edition tourbillon wristwatch, made to celebrate the 30th anniversary of F.P.Journe
Manufactured circa 2014
Number 20/99, limited edition of 99 pieces
Estimate: HK$1,800,000 - 3,600,000
Hammer Price: HK$2,100,000
Sold: HK$2,646,000
Lot 2426 | Rolex | Ref. 116599RBOW, Daytona "Rainbow", An 18k white gold, diamond and multi-coloured gem-set automatic chronograph watch with bracelet
Manufactured circa 2012
Estimate: HK$1,600,000 - 3,200,000
Hammer Price: HK$2,100,000
Sold: HK$2,646,000
Auction Details:
Auction House: Christie's Hong Kong
Sale: Important Watches: Featuring "The Collectibles" Part 2
Date: 27 October 2024
Number of Lots:
Sale Total: HK$191,847,860