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Patek Philippe Tiffany Watch Sets Record at Phillips

Dec 14, 2021 6:20 AM   By Rapaport News
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RAPAPORT... A one-of-a-kind Patek Philippe watch with a Tiffany Blue dial achieved a record at a recent Phillips auction, bringing in the highest price ever for a timepiece sold online.

The special Nautilus ref. 5711, created to commemorate the 170-year partnership between Patek Philippe and Tiffany & Co., fetched $6.5 million at the 2021 New York Watch auction, Phillips said Sunday. All proceeds from the sale of the timepiece — which was also the most expensive item to sell online in any Phillips auction — will be donated to The Nature Conservancy.

In total, the auction garnered $35.9 million, with all of the goods on offer finding buyers. Those figures make the sale the most successful watch auction in US history, Phillips noted. It also marks a 100% sold-out year for watch sales at Phillips, which is a first for any auction house, Phillips added.

“Kicking off the sale was one of the most important watches I’ve ever had the privilege of auctioning — the highly coveted Patek Philippe Nautilus Ref. 5711 with Tiffany Blue dial,” said Phillips senior consultant Aurel Bacs. “The enthusiasm we saw in the lead-up to the sale...is a testament to the enduring legacy of 170 years of partnership between Patek Philippe and Tiffany & Co. We are grateful to all those who helped make this extraordinary result possible, especially to the many people around the globe who raised their paddles on such a momentous occasion.”

In January, Patek Philippe announced it would discontinue production of the Nautilus Ref. 5711, making the watches currently in circulation even more valuable.

Other notable items included a George Daniels Tourbillon pocket watch, which achieved $1.7 million, and a Rolex Ref. 6241 Cosmograph Daytona Paul Newman “John Player Special,” which sold for $1.2 million. Both beat their high estimates. Meanwhile, an Omega Speedmaster timepiece, which had belonged to American author Ralph Ellison, brought in $667,800, more than 30 times its upper valuation.

“Across two days, we saw tremendously spirited bidding from nearly 75 countries, leading to game-changing prices for vintage and modern wristwatches alike,” said Paul Boutros, head of watches for the Americas at Phillips.

Image: The Patek Philippe watch with the Tiffany blue dial. (Phillips)
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Tags: 2021 New York Watch auction, Aurel Bacs, George Daniels Tourbillon pocket watch, Omega Speedmaster, patek philippe, Paul Boutros, Phillips, Ralph Ellison, Rapaport News, Rolex Ref. 6241 Cosmograph Daytona Paul Newman, Tiffany, Tiffany & CO.
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