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July 7, 2010updated Feb 13, 2013

Strong Sales From China Highlight Recent Patrizzi Watch Auction

By Pardhasaradhi Gonuguntla

New York – Reported by Elite Traveler, the Private Jet Lifestyle Magazine

Sales in the Patrizzi & Co June 15 New York auction reached a total of $2,901,850 with 145 of the 233 lots sold. The top lot was a minute repeater by F.P. Journe, featuring Grande et Petite Sonnerie striking chimes, which sold for $400,000. An eight-day duration Cartier Mystery clock with platinum, rock crystal and diamonds made in the 1940s attained $280,000. An 18k yellow gold Patek Philippe World Time with a cloisonné enamel dial fetched $140,000.

“There was tremendous interest in this auction from clients in Asia, especially China and Hong Kong,” said Philip Poniz, vice president and chief expert at Patrizzi & Co. “These customers purchased a range of items, from pocket watches to modern wristwatches.” The company held previews of the auction in Hong KonG and Shanghai, where the company opened offices in 2009 and 2010, respectively.

About 40 people attended the auction in person with strong bidding via the Internet and phone, with many bids from China. Sales of pocket watches were consistently strong with models from Patek Philippe and Vacheron Constantin. Chronograph wristwatches were also popular with models from Patek Philippe, Vacheron Constantin, IWC and Audemars Piguet. A limited edition Panerai Radiomir from 2000 sold for double its estimate. Osvaldo Patrizzi founded Patrizzi & Co in 2008 to innovate the horological auction market by eliminating the buyer’s commission and other fees and simplifying the auction process. A Patrizzi & Co horological expert carefully examines and evaluates every timepiece offered for sale, which is then accompanied by a five-year guarantee of authenticity.


Lot 94
F. P. Journe Sonnerie Souveraine Stainless steel minute-repeating wristwatch with Grande et Petite Sonnerie striking chimes and power reserve indication; made in 2007; with accessories
SOLD for $400,000

Lot 122
Cartier Art Déco Mystery Clock, Model A Cartier, Paris, No. 02063, made in the 1940s Eight-day duration mystery clock in 18k yellow gold, platinum, rock crystal and diamonds; with Cartier fitted morocco box
SOLD for $280,000

Lot 121
Cartier Complicated Comet Clock Cartier, Paris, No. 2650, circa 1930 Nephrite mounted in 18k yellow gold and silver, eight-day duration, quarter striking carriage desk clock with phases of the moon, days of the week, date and alarm with original numbered key; accompanied by a Cartier certificate
SOLD for $155,000

Lot 224
Patek Philippe World Time, Ref. 5131J-001, Movement No. 3925148, Case No. 4464263, sold Dec. 11, 2009 18k yellow gold World Time wristwatch featuring cloisonné dial, day/night and 24-hour indications; with Certificate of Origin and original fitted box
SOLD for $140,000

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Lot 145
Patek Philippe Chronograph, Ref. 1463, Movement No. 868715, Case No. 684703, made in 1953, sold May 25, 1955 18k pink gold round-button chronograph, with tachometer and 30-minute register; model was first water-resistant chronograph made by company; accompanied by extract from the archives
SOLD for $120,000

Lot 170
“Paul Newman“ Fuerza Aerea Del Peru, Ref. 6239 Rolex Oyster Cosmograph, Ref. 6239, Case No. 1601343, circa 1966-7 Stainless steel round-button chronograph with black/white dial featuring 30-minute and 12-hour registers, tachometer, hours, minutes and small seconds
SOLD for $51,000 (estimate $32,000 – $40,000)

Lot 27
IWC Portuguese Doppelchronograph Platinum chronograph rattrapante, Ref. IW371212, No. 248/250, Case No. 2817906 made in limited edition of 250 examples in 2005; with original box and guarantee
SOLD for $23,000

Lot 39
Panerai Radiomir Platinum Special Edition, Ref. Op 6542, No. 24, Case No. C24/99, made in limited edition of 99 examples in 2000 Platinum special edition Radiomir diver’s wristwatch with large date, 72-hour power reserve; with original fitted box, international guarantee, Certificate of Origin, Chronometer Certification
SOLD for $24,000 (double its estimate)

Lot 128
Rolex Anniversary GMT-Master II Rolex, Oyster Perpetual Date, GMT-MASTER II, Superlative Chronometer, Officially Certified, Ref. 116748 SARU, Movement No. 1,697,829, Case No. Z649,070, made in 2006, sold July 16, 2007 18k yellow gold, dual-time chronometer wristwatch; bezel set with diamonds, sapphires and rubies
SOLD for $30,000 (double its estimate)

Lot 232
Vacheron & Constantin World Time Desk Chronometre Royal, No. 368545, completed in 1948 One of only six World Time desk clocks with “mechanism Cottier” in gilt brass and burl wood
SOLD for $37,000

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