Antiquorum, New York, December 15 2015
Patek Philippe ref. 5975
Sold for: $87,500
Patek Philippe ref. 5575
Sold for: $99,750
The considerable excitement that surrounded Patek Philippe’s 175th anniversary in 2014 included, of course, the launch of several special models created for the occasion. As is usual with such pieces from Patek, demand was high and production was limited – so, as is equally usual, the brand is thought to have vetted prospective purchasers in a bid to avoid any watches being quickly “flipped” in order to leave the original buyers with a healthy profit.
But, of course, it’s never that easy to control who buys what – especially when creating limited editions that run into the hundreds, rather than the tens. Which is why this Antiquorum sale featured not just one, but two 175th anniversary Pateks, both of which were offered (as one might hope) in pristine condition.
Indeed, one of them – a Reference 5575 anniversary World Time Moon – was so pristine that it was presented in its factory-sealed plastic bag, together with a pre-sale estimate of $70,000 – 100,000, more than double its new retail price. One of an edition of 1,300 in white gold (so not exactly rare) it almost made six figures to be hammered down for $99,750.
The second anniversary piece was one of 400 Reference 5975 chronographs in pink gold. A more interesting piece (and rarer) it was, arguably, the most attractive of the anniversary watches with its wartime look and an unusual chronograph set-up which eschews sub dials but does offer no fewer than three separate scales on its dial – pulsometer, telemeter and tachymeter.
The Calibre CH28-520 self-winding movement lurks inside – but it can’t be seen because of a solid case back engraved with anniversary wording.
In summary: There would inevitably have been more takers for Patek’s anniversary watches than there were pieces available, so who can blame a shrewd buyer for scooping up his (or her) allocation, enjoying ownership for a short while and then turning a profit? It will be interesting to see how values hold……