Record prices set for Rolex and Patek Philippe at Geneva watch auctions

Following last weekend's Geneva watch auctions, the results are in - and as expected both Rolex and Patek Philippe dominated, with a record price for the year set for the latter when a "First series" 1952 'The Asprey' perpetual calendar ref.2499 went under the hammer for CHF 3,915,000 at Sotheby's The watch, the only known example of its kind, closed an auction that helped Sotheby's to its second highest result in watches for ten years, with sales totalling CHF 12,208,000 Advertisement Not to be outdone, Phillips, in association with Bacs & Russo, conducted its most successful watch sale ever, resulting in the highest prices yet paid for a Rolex chronograph and Sea Dweller, both of which achieved in excess of CHF 700,000.

Of particular interest was the CHF 1m-plus raised by a rare perpetual calendar, minute-repeating Patek Philippe Ref: 3974, manufactured in 1994 and featuring a platinum case made by Jean-Pierre Hagmann As if to underline the current interest in post-war Pateks, the closing lot, a yellow gold single-pusher chronograph manufactured in 1924 nudged above its low estimate to make CHF 492,500. . Source