Patek Phillippe Ref 5002G Sells for Record-Breaking HK$18.15m at Phillips Hong Kong

Phillips' Hong Kong fall auctions opened with five auction records in the 20th Century & Contemporary Art Evening Sale. Philips' watch department sustained the momentum in the second night with their closely followed Hong Kong Watch Auction: NINE. The first part of the evening featured 53 lots which were making their market debut. Of the 53 lots offered only one was bought in, concluding the sales with a very strong sell-through rate of 98%.

A rare white gold version of the Ref 5002 Sky Moon Tourbillon, manufactured by the indisputable leader in haute horologerie Patek Philippe, sold for HK$18.15m (US$2.32m) after premium and thus crowned the most expensive Sky Moon series wristwatch to be sold at auction.


Patek Philippe issued the Ref 5002 Sky Moon series back in 2001. It is the first wristwatch from the manufactuerer to feature a double dial with twelve complications, for example cathedral gong minute repeater, tourbillon, perpetual calendar, celestial chart, moonphase display, etc. inspired by the aesthetic and functionality of their pocket timepiece Star Caliber 2000,

In recent years it is not uncommon to find Patek Philippe Sky Moon series in auctions fetching millions of Hong Kong dollars. This Ref 5002G which has just made its market debut features a rare white gold case and a one-of-a-kind dial with red painted Roman numerals - meaning this is most likely a bespoke wristwatch tailor-made for one of Patek Philippe's extremely distingushed customers. 

Wenjia Zhang, Regional Director of Phillips China

Room bidder (in black)  scored the winning bid on the Patek Philippe Ref 5002G


This Patek Phillippe Ref 5002G was valued by the auction house at HK$6.2m-HK$11m (US$792K-US$1.4m). The auctioneer kicked off the bidding at HK$4.5m (US$575K) and soon elicited bids from various telephone and room bidders. The price had already exceeded HK$11m (US$1.4m) after thirteen rounds of intense bidding.

At this point the bid increment is HK$500K (US$63.9K) and it soon became an one-on-one duel between the telephone bidder represented by Wenjia Zhang, regional director of Phillips China, and a room bidder dressed in black sitting in one of the back rows. Six more rounds of bidding ensued, and the telephone bidder represented by Wenjia Zhang offered HK$14m (US$1.79m). The room bidder with paddle no. 8009 then pushed the price to HK$15m (US$1.92m) in one go, scoring the winning bid at which the hammered was brought down.

Rolex Ref 6265 - Cosmograph Daytona “Paul Newman”


As aforementioned the initial evening component (entitled ‘FIRST’) featured lots that were making their market debut. The second highest bid of the evening went to a Rolex Ref 6265 Cosmograph Daytona “Paul Newman” which belonged to a Japanese collector.

The Paul Newman Daytona is distinguished by its "Panda" dial design with black subsidiary dials on a white background; also the sub-dials feature ‘square’ hash markers instead of plain lines. "Panda" dials can only be found on screw-down pusher references 6263 and 6265.

Shoyo Kawamura, Cataloguer, Phillips Watches department (centre)


In addition this particular Rolex Ref 6265 features a tropical outer track which makes it even harder to come by. According to Phillips Watches department, only three tropical Panda dials have ever been auctioned by them and they were all Rolex Ref 6263. This is the first time ever that Phillips is offering a Rolex Ref 6265 with a tropical Panda dial. 

The estimate for this extremely rare Rolex Ref 6265 is HK$2.2m-4m (US$282K-513K). The auctioneer began the bid at HK$1.5m (US$192K) and the wristwatch endured twelve rounds of intense bidding. It was finally hammered down at HK$2.6m (US$332K) and sold to the telephone bidder represented by Shoyo Kawamura, Cataloguer of Phillips Watches department.

Argyle Pink Diamond Ring/ Earrings|Sold for HK$6.03m (US$770K)


As for Phillips' recently concluded Jewels and Jadeite auction, an "Exquisite Fancy Vivid Purplish Pink Diamond, Fancy Intense Purplish Pink Diamond and Diamond Ring/ Earrings" has just been sold for HK$6.03m (US$770K) after premium. The two heart-shaped brilliant-cut diamonds weigh at least 1 carat each and could be converted to a pair of ear studs if one wishes. One is a heart-shaped Fancy Vivid Purplish Pink diamond which weighs 1.01 carats while the other also heart-shaped, is a Fancy Intense Purplish Pink diamond coming in at 1.02 carats. Each is surrounded by seven pear-shaped diamonds, totalling approximately 3.05 carats.

A Very Fine Jadeite Bead and Diamond Necklace|Sold for HK$7.53m (US$962K)

A 5.22 Carats Rare and Exceptional Ruby and Diamond Ring|Sold for HK$6.15m (US$786K)


The auctioneer started the bid at HK$3m (US$383K) which was lower that the Argyle Pink Diamond Ring/ Earrings' estimate of HK$5.8m-6.8m (US$741K-869K). After eight rounds of bidding It was finally hammered down for HK$4.9m (US$626K) and sold for HK$6.03m (US$770K) after premium. It was the third highest price of the Jewels and Jadeite auction.

The highest price was fetched by none other than the Jadeite Bead and Diamond Necklace which cost HK$7.53m (US$962K) after premium. The 5.22 carats Rare and Exceptional Ruby and Diamond Ring came in second with HK$6.15m (US$786K) after premium.

Hong Kong Watch Auction: NINE (FIRST)|Top Five

Patek Philippe Ref 5002G Sky Moon Tourbillon 18K White Gold Wristwatch

Lot no.: 845
Made in: 2012
Diameter: 43.5mm
Estimate: HK$6,200,000 - 11,000,000
Hammer price: HK$15,000,000
Price realised: HK$18,150,000

Rolex Ref 6265 Cosmograph Daytona "Paul Newman" Stainless Steel Wristwatch

Lot no.: 853
Made in: 1972
Diameter: 37.5mm
Estimate: HK$2,200,000 - 4,000,000
Hammer price: HK$2,600,000
Price realised: HK$3,250,000

Patek Philippe Ref 5275P-001 175th Anniversary Limited Edition Platinum Chiming Wristwatch

Lot no.: 844
Made in: 2015
Estimate: HK$2,300,000 - 3,800,000
Hammer price: HK$2,300,000
Price realised: HK$2,875,000

Patek Philippe Ref 770/3 18K Yellow Gold Pocket Watch 

Lot no.: 835
Made in: 1968
Diameter: 47mm
Estimate: HK$960,000 - 1,920,000 
Hammer price: HK$2,300,000
Price realised: HK$2,875,000

Patek Philippe Ref 5976/1G-001 40th Anniversary of the Patek Philippe Nautilus Limited Edition 18K White Gold Automatic Wristwatch

Lot no.: 822
Made in: 2017
Diameter: 44mm
Estimate: HK$1,000,000 - 1,500,000 
Hammer price: HK$2,000,000
Price realised: HK$2,500,000

Auction summary

Auction house: Phillips Hong Kong
Sale: Hong Kong Watch Auction: NINE (FIRST)
Sale date: 25 November 2019
Lots offered: 53
Sold: 52
Sold by lots: 98%