Century deal!
Over the weekend of last week (December 11), at 11 pm Hong Kong time, the Phillips Auction by Phillips New York was held, bringing a total of 165 precious collections. The highlight of the event was the number one lot, the heavyweight collaboration piece created by Patek Philippe in partnership with Tiffany & Co. – the Nautilus Ref. 5711 watch with a Tiffany Blue® dial.
In the end, after a fierce competition with as many as 34 bids, this highly anticipated work was sold for a staggering $6,503,000 USD!
This time, the item up for auction is one of the 170 limited edition pieces from both brands for charity auction. Previously, the watch auctioned at the new headquarters at 432 Park Avenue in New York by Fuyi Si was listed as Lot 1T by Phillips Watches, with the “T” meaning Terrific, showing how highly the auction house values the watch.
The auction was hosted by Aurel Bacs, head of the watch department, with the Tiffany Blue® 5711 starting at $20,000 and jumping to $300,000 by the fifth bid, close to its retail price of $52,000. Subsequently, the bidding rose to $2,600,000 by the tenth bid, but the intense auction did not slow down. Bidders from London, New York, Bahrain, and other places showed aggressive bidding attitudes, with bids increasing from the tenth to the twentieth bid in just over ten seconds. By the twentieth bid, the watch auction had reached $4,400,000.
In the end, Aurel Bacs hammered down at $5,350,000, which is over HK$41.72 million, confirming the winning bid from bidder number 9252. Including the commission, this Tiffany Blue® Nautilus 5711 achieved a record-breaking HK$50.71 million, marking the perfect conclusion to this Patek Philippe’s timeless classic.
Aurel Bacs, the auctioneer for this special event, also shared his personal feelings: “From my teenage years to starting my watch collection, the Patek Philippe Nautilus has always been with me on my journey of watch collecting and research. Its timeless design and innovative dial colors always impress me. From the early deep blue and champagne colors to the recent white and olive green, each has its own unique and charming style. When I first saw the photo of the 5711 with the iconic Tiffany blue dial, I could hardly believe what I was seeing, and I couldn’t wait to share this watch event at the end of 2021 with more watch enthusiasts. This color scheme is not only a first for the Nautilus, but also the first time it has been used on a Patek Philippe watch. I believe this groundbreaking design will become popular in the global watch collecting community, leaving a mark in the watchmaking history of both Patek Philippe and Tiffany & Co. We are honored to be entrusted by these two major brands to auction this historically significant timepiece.”
According to explanations from both Patek Philippe and Tiffany, all proceeds from this auction will be donated to The Nature Conservancy to support the organization’s efforts in conserving biodiversity.
資料及圖片來源：Courtesy of Phillips Watches
