In celebration of their 10th anniversary, Poly Auction Hong Kong’s Important Watches Sale raked in creditable results. It achieved a sale total of HK$34.3 million (around US$4.3 million) dollars, where the three most valuable lots were all Patek Philippe Nautilus watches.
A timepiece with Reference 5711/112P was the most expensive. Adorned with a ruby-set bezel, it appeared at auction for the first time and netted HK$8.4 million (around US$1 million) dollars. Alongside this lot, two stainless-steel watches with olive-green dials were the second and third priciest lots.
Lot 2382 | Patek Philippe | Ref. 5711/112P, Nautilus, Platinum and Ruby-Set Rounded Octagonal Automatic Bracelet Watch, with Date Display. Comes with origin certificate and watch box
Manufactured in circa 2020
Estimate upon request
Hammer Price: HK$7,000,000
Sold: HK$8,400,000 (around US$1 million)
The auctioneer started the bidding at HK$6 million dollars. After five bids, the hammer was dropped at HK$7 million dollars. In the end, it garnered HK$8.4 million (around US$1 million) dollars with buyer’s premium.
In 2006, the brand launched a series of new models for the 30th anniversary of the Nautilus series – including the Reference 5711, known as one of the most popular models with a sapphire crystal display back. This present timepiece, Reference 5711/112P, is an evolution of this series. The watch's main body is made of platinum and the iconic rounded octagonal case is fascinating.
The most sought-after is the entire bezel and hour markers, which are set with 44 baguette-cut rubies weighing more than 4 carats, which highlights the watch's luxurious style. It also has a black dial with ruby-set hour indexes and aperture for date at 3 o'clock. Equipped with a 324 SC self-winding movement, this watch also supports a practical date function, and has the high-quality hallmark of Patek Philippe.
Thierry Stern, President of Patek Philippe
In the past few years, the stainless-steel Nautilus achieved record prices in the auction market. The main reason is that Patek Philippe announced in 2021 that the iconic Nautilus with Reference 5711 would be discontinued in 2022 – adding to its rarity.
Thierry Stern, President of Patek Philippe, revealed in an interview last year that one of reasons for its discontinuation was its value. “It’s not enough to make the most beautiful watches in the world. I also have to make sure that they retain their value, and rarity is one of the keys to that. For the customers who invest in Patek, that’s important,” he said.
Lot 2439 | Patek Philippe | Ref. 5711/1300A, Nautilus, Stainless Steel and Diamond Set Rounded Octagonal Automatic Bracelet Watch, with Date Display. Comes with origin certificate and watch box
Manufactured in circa 2021
Estimate upon request
Hammer Price: HK$6,100,000
Sold: HK$7,320,000 (around US$930,000)
The bidding commenced at HK$5 million dollars. After three bids, the hammer was dropped at HK$6.1 million dollars. In the end, it garnered HK$7.3 million (around US$930,000) dollars with buyer’s premium.
This olive-green stainless-steel Nautilus watch comes with a variation of the bezel – set with white diamonds – where the bezel is inlaid with 32 top Wesselton baguette-cut diamonds weighing about 3.6 carats. Collectively, these features make the watch more outstanding.
The watch’s design is simple and neat, while being practical at the same time. This current olive-green version of Nautilus has a limited number of releases.
Lot 2438 | Patek Philippe | Ref. 5711/1A, Nautilus, Stainless Steel Rounded Octagonal Automatic Bracelet Watch, with Date Display. Comes with origin certificate and watch box
Manufactured in circa 2021
Estimate: HK$3,000,000 – 5,000,000
Hammer Price: HK$3,800,000
Sold: HK$4,560,000 (around US$570,000)
The bidding began at HK$2.6 million dollars. After four bids, the hammer was dropped at HK$3.8 million dollars. In the end, it realised HK$4.5 million (around US$570,000) dollars with buyer’s premium.
This olive-grade stainless steel Nautilus also comes with an original certificate and watch box. Featuring a diameter of 40 millimetres, this present watch is equipped with the 26-330 SC self-winding movement developed by Patek Philippe. The overall design is the same as the previous Nautilus series – including the classic octagonal case inspired from portholes which takes 55 steps to create and polish, a bracelet with both glossy and matte surfaces.
This collection’s most distinctive feature is the gradient olive-green dial – the horizontal ribbed dial is reinterpreted in a grass green tone with metallic texture and radial lines – which is like a lush green leaf on the wrist.
Other highlight lots:
Lot 2463 | Patek Philippe | Ref. 5078G, White Gold Minute Repeating Automatic Wristwatch, with Enamel Dial and Small Seconds. Comes with origin certificate, spare case back and watch box
Manufactured in 2020
Estimate upon request
Sold: HK$4,320,000 (around US$550,000)
Lot 2430 | Richard Mille | Ref. RM 037 RG, Rose Gold and Diamond Set Tonneau Shaped Semi Skeletonised Automatic Bracelet Watch, with Date Display and Red Jasper Dial. Comes with origin certificate and watch box
Manufactured in 2021
Estimate: HK$1,400,000 – 2,400,000
Sold: HK$1,560,000 (around US$190,000)
Lot 2458 | Rolex | Ref. 116506, Platinum and Diamond-Set Chronograph Automatic Bracelet Watch, with Small Seconds and Tachymeter, in Unworn Condition
Manufactured in circa 2022
Estimate: HK$1,000,000 – 2,000,000
Sold: HK$1,200,000 (around US$150,000)
Auction Details:
Auction House: Poly Auction Hong Kong
Sale: Important Watches
Date: 11 July 2022
Sale Total: HK$34,317,600 (around US$4.3 million)