Patek Philippe Ref. 5207P-001watch breaks world record at Sotheby’s HK Important Watches Spring Sale

A Patek Philippe watch topped the Sotheby’s Hong Kong Important Watches Spring Sale. The timepiece created a world auction Record for a Patek Philippe Wristwatch selling for $866,667.

The auction was held on 8th April and achieved total revenues worth $16.7 million.

The Patek Philippe timepiece Ref. 5207P-001, the brand’s third-most complicated watch, is characterised as a minute-repeating instantaneous perpetual calendar tourbillon piece. It has an indicator for the leap year and day/night. The watch of 41 mm and made in platinum in 2013 features a dial in honey-gold colour, reports say.

Sharon Chan, Sotheby’s Head of Watches, Asia , commented that the variety of lots attracted ‘international participation from bidders not only in the room but also on the phone and the Internet.’ She further added, “The top lot, a Patek Philippe wristwatch Ref. 5207P-001, the third most complicated wristwatch by the brand, was fiercely contested by four bidders before selling at US$867,000, setting a world auction record for the model. Avant-garde watches by independent watchmakers including Richard Mille and Greubel Forsey also fetched notable prices.”