While Rolex has dominated the watch headlines with the release of its first titanium reference, Patek Philippe continues to draw attention with a few notable releases. The most important of which is the new 5811 that continues the lineage of the discontinued 5711. And now, the first ‘market price’ sale of the infamous Patek Philippe ref. 5711/1A-018 with Tiffany & Co. signed dial for $3.2 Million at Christie’s.
Auction estimates priced the watch between $1.5 and $3 Million USD but with a final sale price of more than $3.2 Million (nearly $5 Million AUD) this reference continues its legacy as the most sought-after in the world.
This is just the second Tiffany Patek to go up for auction and follows the $6.5 Million sale during a charity event on the 11th of December 2021. We now have a realistic ‘market price’ for the watch and is surely going to draw the eyes of all 169 other owners that includes Lebron James, Jay-Z, and Leonardo DiCaprio.
Patek Philippe ref. 5711/1A-018 with Tiffany & Co. Signed Dial
Dial: Tiffany Blue
Case diameter: 40 mm
Case back: Inscribed on the crystal “170th Anniversary / Tiffany & Co. – Patek Philippe / 1851-2021.”
Bracelet: Stainless steel Patek Philippe bracelet and double deployant clasp.
Remark: Special edition of 170 pieces
When one of the most important watch references of the 21st Century meets the most recognisable colour in jewellery, it’s easy to understand just how desirable the pair would be.
Made in 2021 to celebrate the 170th anniversary of the partnership between Tiffany & Co. and Patek Philippe, the piece holds a significant historical value that’s displayed in both the ‘Tiffany Blue’ dial and sapphire-crystal case back which bears the inscription “170th Anniversary – 1851-2021 – Tiffany & Co. – Patek Philippe.”
Every owner was hand-picked by Tiffany & Co. with the first watch being auctioned off for charity at Phillips in New York for a published price of $6.5 million. That watch would end up in the hands of 31-year-old Zach Lu – after the original bidder was unable to cough up the change – and Mr Lu has been showcasing the piece on his Instagram ever since, often taking pictures with the son of LVMH chairmen Bernard Arnault.
The buyer of the $3.2 Million Tiffany Patek has so far remainder anonymous.
Will this be the last Tiffany Patek we see come up for auction? There’s a good chance it could be a while before a buyer is willing enough to risk sending their piece to auction. With a very selective buying process, an owner wouldn’t want Tiffany or Patek to find out that their hand-selected piece is being sold. The risk of losing that connection you have with the brand is simply not worth a collector’s time or money.
On the contrary, the $3.2 Million sale indicates a top twenty position on the most expensive watches ever sold. As the saying goes “Money Talks, Wealth Whispers,” so offloading your watch anonymously is always a possibility.
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