Ultra-rare Patek Philippe watch sells for more than $2 million

by | Jun 10, 2022 - 5:08PM | Watches

Patek Philippe 5531R-012 is pictured.

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.

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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”.

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