Sotheby’s Hong Kong, 6 October 2016
Sold for HK$ 7,280,000 (US$933,333)
Evidence of the growing interest in vintage pieces among Asian collectors could certainly be seen in the sale of this Patek Philippe World Time wrist watch from 1968, which achieved more than 30 per cent above its high estimate. Although it eventually sold to an anonymous European buyer, it was regional underbidders who helped push the price to such heights.
One of just 20 examples of a Reference 2523/1 known to have been made with an engine-turned dial centre – and only the eighth of these to have appeared at auction – the watch was subject to an exhaustive authenticity test prior to the sale, which included a complete dismantling and weighing of individual movement components to ensure they matched archive records.
Consigned by an Asian connoisseur, the watch had been hidden away by a small succession of private owners since it was originally sold in April, 1975, and was offered in remarkable, original condition – meaning a strong saleroom performance was more or less assured.