Patek Philippe is steadily becoming an auction favorite. After the record-breaking sale of the exceptionally rare Patek Philippe ref 2523 earlier this year, the Genevan luxury watch manufacturer was back under the hammer with a limited-edition watch designed with Tiffany & Co, which sold this past weekend for well over $6 million.
The auctioned Patek Philippe Nautilus ref 5711/1A-018 with Tiffany & Co-signed dial was officially the first model made available on the market. The watch was part of the first live watch auction conducted by Phillips in New York in two years.
The sale
The watch featuring the Tiffany & Co-themed dial was sold for $5,350,000 at Phillips’ space at 432 Park Avenue. Factoring in the auction premium, the total sale price was recorded at $6,503,000. The winning bid was reportedly made by an unnamed New York resident.
The sales proceeds from this auction are going to go to Virginia-based Nature Conservancy. The non-profit will use this to run its environmental programs around the world.
About the watch
Reportedly, the Patek Philippe Nautilus 5711 is going to retire in 2022. Crafted in a limited edition of 170, the Patek Philippe Nautilus ref 5711/1A-018 features a 40mm stainless steel dial, which is paired with stainless steel bracelet in the same hue. The watch features a Tiffany Blue dial accentuated by blackened gold indices and is powered by Caliber 26-330, a self-winding movement that offers roughly 35 hour power reserve.
The Swiss luxury watch is marketed by Tiffany & Co in the United States. On the sapphire caseback the watch bears the 170-year inscription, which marks the tenure since Tiffany has been the authorized dealer for Patek Philippe in the US (a collaboration that started in 1851).
