As one of the most popular watches within the industry, the market price is now set!
There are moments in timepiece history that highlight the progression of the market and its community of dedicated enthusiasts. For the lucky individuals attending the Phillips 2021 New York Watch Auction, they were able to see history unfold with the bidding war and sale of the first Patek Philippe Nautilus Tiffany & Co. The limited-edition Patek Philippe x Tiffany & Co. takes shape as the brand’s iconic Ref. 5711 model, commemorating the 170-year anniversary between the two luxury powerhouses.
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In preparation for the highly-anticipated auction lot, Phillips in association with Bacs & Russo advertised the piece as a donation with 100% of the proceeds benefitting The Nature Conservancy (TNC). After an initial estimate of ‘In excess of $50,000’ from Phillips, the bidding war concluded with an astronomical sale price of $6,503,500. With a limited production of 170-pieces and a retail price of $52,635, this example stamps itself as one of the most expensive Patek Philippe models sold at auction. Check back into duPont REGISTRY Daily for more luxury watch news and releases.
Source: Phillips