Patek Philippe Golden Ellipse Watches

The worldwide economic recession was no where to be seen at Antiquorum's "Important Collector's Wristwatches, Pocket Watches, Clocks and Horological Tools" auction, held May 9-10 in Geneva. The highlight was sale of a vintage Patek Philippe's Ref. 1436 (see photo)--a stainless steel split-seconds chronograph, and one of only two such timepieces known to exist today. The very rare timepiece, produced in 1945, set a world record price for a steel watch by fetching $1,126,932. Overall, Antiquorum's auction featured 331 lots. Of these, 80 percent were sold, netting a total of $5.9 million.> Read more

Recently we asked the question, "How much would you spend on a new watch?" Just 21 percent said $3,000 or more.Something tells us that even those with an appetite for a more expensive watch probably don't have the stomach for a Patek Philippe that went for $312,000 (US) at a Sotheby's watch auction held in Hong Kong on October 6th.The piece in question is a platinum 5078P model (photo to left) with a unique minute-repeating function that calls out the passage of 60 seconds with a distinct note.Surprisingly $312,ooo represents a bargain compared to what it is sold for online. Prices range from $339,000 to $399,000.But even these prices pale in comparison to the Patek Philippe Sky Moon Tourbillon Mens Wristwatch Model 5002P, which sells for $1.5 MM at Gemnation. Related PostsRare Patek Philippe Sets Auction RecordPatek Philippe Museum Passes Historic MilestonePatek Philippe Buying Gold Futures to Hedge Against High Prices