"Unique" Patek Philippe Sells for Record $2.5m
June 12, 22
(IDEX Online) - A Patek Philippe watch made in 1990 and described as "possibly unique" sold for $2.5m at auction, smashing its $829,000 high estimate.
The watch, Ref 3974, (pictured) was the most technically sophisticated watch of its day - with a minute repeater, a perpetual calendar, 24-hour indication and phases of the moon.
It sparked a furious bidding war between 20 potential buyers at Phillips Hong Kong. It set new world record for the reference.
Around 120 examples of the Ref 3974 were made in total, in a variety of metals - yellow gold, pink gold, white gold and platinum.
But the yellow gold model that sold at auction was made with a specially requested black lacquered dial and raised Breguet numerals in gold for a VIP customer, making its "possibly unique".