Ultra-rare Patek Philippe watch sells for more than $2 million
Published on Jun 10, 2022 at 5:08 PM (UTC+4)
by Louise Cheer
Last updated on Jun 11, 2022 at 2:50 AM (UTC+4)
Edited by
Kate Bain
An ultra-rare Patek Philippe watch has sold for $2.2 million.
The 5531R-012 is finished in 18K Rose Gold with a cloisonné enamel dial depicting the Lavaux vineyards on the shores of Lake Geneva.
It was auctioned off by Christie’s on Thursday, selling above the estimate of $1 to $2 million.
READ MORE! Audemars Piguet watch sells for world-record $2.1 million because of who owned it
The first version of the 5531R made its debut at the 2017 New York Patek Philippe Art of Watches Grand Exhibition.
Only 10 of these were ever made.
Five featured the Manhattan skyline during the day and the other five featured the city scene at night.
At the time, the watch retailed for $561,341, according to Forbes, and combined two of the watchmaker’s most iconic complications: the world time watch and the minute repeater.
CHECK THIS OUT!
Its Caliber R 27 HU allows for the minute repeater to chime in the local time.
After the success of this watch, Patek Philippe introduced the 5531R to its normal production at Baselwood 2018 by application only, according to Christie’s.
Christie’s research leads them to believe only three examples of the 5531R have ever been put up for auction – and only two featured the Lavaux Vineyards.
‘Extremely rare’: ‘Red dot’ Patek Philippe sells for $1 million
The 5531R wasn’t the only Patek Philippe to attract a high price.
Described as “extremely rare and important”, the 3448G watch, made circa 1980s, sold for more than $1 million.
The 18K white gold Perpetual Calendar wristwatch with a “red dot” leap year indicator was estimated to sell for between $800,000 and $1.6 million.
The watches were part of Important Watches of Exceptional Provenance, Featuring The Kairos Collection Part III auction.
It had “the finest collection of Patek Philippe contemporary timepieces ever to appear at auction curated by a private distinguished collector”.
WATCH:
DISCOVER SBX CARS: The global premium car auction platform powered by Supercar Blondie
Louise Cheer oversees and writes stories about the latest headlines on topics such as automotive, technology, gaming, watches, movies and lifestyle. Louise has been a news editor at Yahoo and Daily Mail in Australia, with more than 10 years of experience in the media industry.
