Tuesday, November 12, 2019

Patek, Zenith Lead soaring prices at Geneva Auction X

As watch prices at auction continue to soar, A one-of-a-kind Patek Philippe Ref. 2499 in pink gold, co-signed Trucchi, sold for CHF 1,580,000 ($1,584,108) in the Double Signed auction by Phillips in Association With Bacs & Russo over the weekend in Geneva. The sub-sale of watches co-branded by retailers was part of Geneva Auction X, highlighted by two Rolex watches selling for CHF 1,940,000 ($1,945,044) each, and one world record: the highest price ever paid for a Zenith El Primero. The combined sales totaled CHF 23,161,125 ($23,221,343), which includes CHF 16,421,875 ($16,464,571) for Geneva Auction X and CHF 6,739,250 ($6,756,772) for Double Signed.

Phillips x Zenith Platinum El Primero
Phillips x Zenith Platinum El Primero  Courtesy of Phillips 
Meanwhile, prices for Zenith El Primeros have been on the rise and the one that sold in the Phillips auction was a unique platinum model with a lapis lazuli dial, co-designed by Phillips. It broke records when it sold for CHF 250,000 ($250,650). Several watches sold in the $300,000-$400,000 range, including a yellow gold Patek Philippe Ref. 1518, one the brand’s first series perpetual calendar chronographs and notably stamped with a long signature, reading “Patek, Philippe & Co.” It sold for CHF 375,000 ($375,975).

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