Hodinkee
Auctions: Phillips Bringing Three Mega Pateks to Its Spring Sales
We'll have further auction coverage in the coming weeks, but it's worth giving Phillips a bit more attention, as it continues to lead in year-over-year sales. The auction house sold a record total of over $290 million in watches last year and has had five years in a row with over $200 million in sales. The market has shifted (I'd argue at least twice) in the past few years, but despite the growing F.P. Journe, independent, and pocket watch (yes, pocket watch) markets, the top lots for Phillips continue to be Patek Philippe. At each of their spring auctions, Phillips is selling an important Patek to headline the sale, and each is the kind of watch that could be the pinnacle of the world's top collections. Normal caveat here: I haven't seen these watches in person yet, and anyone considering bidding should make sure to check any watch in person if at all possible. A Patek Philippe ref. 2523 Two-Crown World Time With Cloissoné Enamel South America Dial First, we have the star of Geneva, to be sold on May 9: the Patek Philippe ref. 2523 two-crown world time with cloisonné enamel map of South America, from 1953. Aside from rare variants of 2499s or 1518s (and a few repeaters), these two-crown watches, with their incredible, angular lugs and giant open canvas at the center of the dial, have become the holiest of Holy Grails for many collectors. They are rare enough to be hunted and coveted, but there are also enough out there to be studied, understood, and codified. Too rare o...
