While more luxury brands invest in smartwatch and connective technology, watch collectors and enthusiasts look to the past for real value. A recent rare timepiece auction in Hong Kong broke existing records set by the very same auction house and indicating that demand for rare and high end timepieces isn’t going out of style anytime soon. Read more from Phillips:
GENEVA ? 14 NOVEMBER 2016 ? Phillips in Association with Bacs & Russo, the world?s leading watch auction house, is proud to announce a historical and record-breaking sale, which realised a total of CHF 27.5 million. The sale?s top lot, the Patek Philippe reference 1518 in stainless steel, established a new World Record for any wristwatch at auction. The Geneva Watch Auction: FOUR, on 12 and 13 November, saw collectors from across the globe competing for the world?s finest collectible timepieces. Patek Philippe reference 1518
The unprecedented ?trilogy? of Patek Philippe 1518s sold for a combined total of over CHF 13 million, including the stainless steel example with its world record price of CHF 11,002,000, pink gold example for CHF 1,474,000 and yellow gold example for CHF 598,000. The sale had huge international reach as we saw global participation from buyers across six continents, reflecting the global appeal of this important collecting genre. The Phillips international team of Watch specialists brought together a world-class group of collectors? wrist and pocket watches of the highest quality in te...