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Friday, March 11, 2011

Rare Patek Watch Sells for $710,500 at Antiquorum Auction in New York

Patek Philippe Ref.2419 retailed by Cartier sold for $710,500 at Antiquorum auction.

The only known Patek Philippe minute repeating wristwatch ref. 2419 sold for $710,500 (including buyer's premium) to a person from China in competitive bidding during Antiquorum’s Important Modern & Vintage Timepieces Thursday in New York. Made in 1946 and sold on April 21, 1950, by Cartier, the 18k gold, minute-repeating wristwatch is accompanied by an extract from the archives and a certificate of authenticity from Cartier.

The auction of 275 rare and collectible timepieces took in $4.46 million before a standing-room-only crowd, augmented by 301 registered Internet and phone bidders from around the world, including China, The Russian Federation, Qatar and Canada. A total of 81 percent of products were sold by lot and 125 percent sold by value.

“The spectacular results for the exceptional minute-repeating Patek Philippe ref. 2419 wristwatch retailed by Cartier confirms that collectors today are willing to pay a premium for watches that are unique and new to the market," said Evan Zimmermann, Antiquorum president and CEO of the auction house that specializes in timepieces. “Furthermore, several other Patek Philippe timepieces achieved exceptional results, confirming that complicated Patek Philippe watches continue to dominate the top lots at auction.”

Other noted sales Thursday include the following (all sales include buyer’s premium):

Jaeger-LeCoultre, "Reverso Gyrotourbillon 2," No. 52/75. Made in a limited edition of 75 pieces circa 2009. Very fine and rare, large, rectangular, reversible platinum wristwatch with visible Jaeger-LeCoultre caliber 174 with inclined two-cage multi-axis spherical tourbillon, 50 hour power reserve and 24-hour indication and “1000 Hours Control,” sold for $266,500.

Patek Philippe, "The Celestial Wristwatch," ref. 5102G. Made in 2002 and sold Dec. 25, 2002. The self-winding, 18k white gold wristwatch has a mean time indication, nocturnal sky chart of the Northern Hemisphere, moon phases and moon orbit, time of the meridian passage of Sirius and moon. It is accompanied by a fitted box, certificate of origin and a leather folder with technical and instructions. Sold for $218,500.

Patek Philippe Pink Gold “TV Watch,”ref. 5020R, circa 1994. Tonneau-shaped, water-resistant, 18k pink gold wristwatch with round button chronograph, register, perpetual calendar, leap year and 24-hour indication, moon phases. Sold for $164,500.


Yellow gold Patek Philippe, Genève, ref. 3448. Made in 1977, sold July 22, 1977. The self-winding, 18k yellow gold wristwatch with perpetual calendar and moon phases is accompanied by the extract from the archives, the original fitted box, invoice and spare strap. Sold for $158,500.

Patek Philippe Ref. 3450/1 - Roman leap-year display, third series sold on June 4, 1984. Self-winding, 18k yellow gold wristwatch with perpetual calendar, moon phases, Roman numerals for the leap year indication and an integrated 18k yellow gold Patek Philippe bracelet "à mailles." Sold for $158,500. 

 
A Calendar Girard-Perregaux, opera two, tourbillon, Westminster minute repeater, perpetual calendar," No. 7, Ref. 99740. Made in 2003, the 18k white gold wristwatch with visible one-minute tourbillon regulator under three bridges, perpetual calendar with leap year indication. Accompanied by the original fitted wooden winding box, certificate of authenticity, instruction booklet and setting pin. Sold for $158,500.

Patek Philippe Ref. 5125P, retailed by Wempe, No. 017/100. Made in a limited edition of 100 pieces in 2003 to commemorate Wempe's 125th anniversary, the center-seconds, self-winding, water-resistant platinum wristwatch with semi-instantaneous digital triple date annual calendar, moon phases and 24 hour indication is accompanied by a fitted box, certificate, caseback, setting pin, booklet, and certificate from Wempe. Sold for $92,500.

Jaeger-LeCoultre, "Master Minute Repeater, Antoine LeCoultre", No. 092/200, ref. 151.6.67.S, made in a limited edition of 200 pieces in 2007. The oversized, minute-repeating, water-resistant, platinum wristwatch with 15-day power reserve and spring torque indication is accompanied by the original wooden box, loupe, guarantee and instruction booklet. Sold for $88,900.

Jaeger-LeCoultre, "Master Minute Repeater, Antoine LeCoultre," No. 05/15, Ref. 151.2.67.S. Made in a limited edition of 15 pieces in 2008. The oversized, minute-repeating, water-resistant, 18k pink gold wristwatch with 15-day power reserve and spring torque indication is accompanied by the original wooden box, loupe and instruction booklet. Sold for $86,500.

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