Patek Philippe eclipses Rolex at Hong Kong Watch Auction: NINE.

Phillips in Association with Bacs & Russo set a new world record for a Patek Philippe reference 5002 in Hong Kong this week with a white gold double-dialed astronomical wristwatch with special dial selling for $2.3 million Seven of the top ten highest prices paid were for Patek Philippe models, while the remaining three were from Rolex 6238 went for a record $525,258 and a Patek Philippe reference 770/3 in yellow gold also a highest price ever at auction of $367,425.

Aurel Bacs, Senior Consultant and Auctioneer, was delighted that the hysteria around the auctions in Geneva earlier in the month, including the world record price paid for a Patek Philippe watch at the Only Watch charity auction had not taken too much heat out of the market. . Source