Breaking News | Patek Philippe Ref. 5711/1A-018 “Tiffany Blue” sold for $6,503,500 at Phillips December 2021 NY Watch Auction

The first ever produced Patek Philippe Ref. 5711/1A-018 Nautilus "Tiffany Blue" has sold at Phillips NY Watch Auction for $6,503,500. 

Manufacturer: Patek Philippe
Year: 2021
Reference No: 5711/1A-018
Movement No: 7'441'868
Case No: 6'497'092
Model Name: Nautilus
Material: Stainless steel
Calibre: Automatic, cal. 26-330 S C, 30 jewels
Bracelet/Strap: Stainless steel Patek Philippe bracelet, max overall length 190mm
Clasp/Buckle: Stainless steel Patek Philippe deployant clasp
Dimensions: 40mm Diameter
Signed: Case, dial, movement and bracelet signed
Accessories: Accompanied by a dated (December 11) Patek Philippe Certificate of Origin from Tiffany & Co. in New York, fitted presentation box, leather envelope, and product literature.

Catalogue Essay

Phillips is extremely honored and thrilled to present the very first Patek Philippe Nautilus ref. 5711/1A-018 with a stunning, Tiffany Blue® lacquer dial. It is, without a doubt, amongst the most exciting, exclusive, and coveted examples of a Nautilus ever offered.

Announced to the public just days ago, this limited series Nautilus celebrates the 170-year alliance between Patek Philippe and Tiffany & Co. that remains one of the longest and most enduring relationships in all of watchmaking. A total of 170 timepieces will be produced and available exclusively through Tiffany locations in New York, Beverly Hills, and San Francisco – with the exception of this very watch. The present lot is therefore the first timepiece to be sold, and will be available for immediate delivery to the winning bidder.

The Nautilus reference 5711 is the modern iteration of the first luxury sports wristwatch by Patek Philippe, first launched in 1976 as the reference 3700. Premiering in 2006, the reference 5711 updated the Nautilus for modern times with new innovations, such as an exhibition caseback, and an in-house, self-winding movement with center seconds.

Selected by Tiffany’s founder, Charles Lewis Tiffany for the cover of its annual Blue Book published beginning in 1845, the dial’s “Tiffany Blue” color is immediately recognizable for its distinctive shade and vibrancy. Tiffany Blue is now registered as a color trademark by Tiffany & Co., standardized as a private custom color by Pantone as “1837 Blue” – with the number marking the year of Tiffany’s founding. Not only featuring a Tiffany Blue-colored dial for the first time ever, the dial is also double stamped with the exclusive “Tiffany & Co.” signature at 6 o’clock paired with the Patek Philippe logo at 12 o’clock – both in black print. The luminous, baton hour markers and hands are in blackened 18K white gold, perfectly matching the printing, while providing outstanding legibility against the dial’s light blue lacquered surface.

Soon to be retired in 2022, this last version of the reference 5711 is fitted with the self-winding caliber 26-330 S C. Featuring a stop-seconds mechanism permitting time to be set with one-second accuracy, this state-of-the-art movement is visible through a sapphire-crystal caseback, inscribed “170th Anniversary 1851-2021 Tiffany & Co. - Patek Philippe”.

Accordingly, the watch pays tribute to the historic, 170-year shared vision and relationship that links Patek Philippe with the United States. Soon after Patek Philippe (1839) and Tiffany & Co. (1837) were founded, in 1851, the two companies forged an agreement that made Tiffany & Co. the first official partner for Patek Philippe timepieces in the U.S. In 1876, the two companies signed a new agreement appointing Tiffany & Co. as the general representative for the U.S. “who safeguards the interests of Patek Philippe & Cie. as if they
were its own interests”. At the same time, Patek Phillipe pledged to safeguard Tiffany & Co.’s interests as evidenced by a large sign “Agents for Tiffany & Co., New York” at Patek Philippe’s historic headquarters in Geneva. On the premises of the same Patek Philippe Salons in Geneva, there is further proof of this enduring relationship: a large steel vault formerly owned by Tiffany & Co. and decorated by an American eagle sporting two flags.

During the early 1900s, Tiffany & Co. supported key relationships between Patek Philippe and major American collectors, including Henry Graves Junior, for whom the manufacture crafted an extensive range of complicated watches. In the 21st century, Patek Philippe created several limited editions for Tiffany & Co., many of which commemorate important dates and featuring double-stamped dials for both brands, including the ref. 5150 Annual Calendar launched in 2001, the ref. 4987 Gondolo launched in 2009, and the ref. 5396G-012 in 2012. This last reference commemorated the fifth anniversary of the Patek Philippe Boutique at Tiffany & Co, which opened in 2008 and was the manufacture’s first boutique in the U.S.

Today, Tiffany & Co. remains the world’s only retailer whose name appears on a Patek Philippe dial, making any Tiffany-signed timepiece extremely sought after. Throughout the 19th, 20th, and 21st centuries, much has changed, but the relationship between Tiffany & Co. and Patek Philippe has only grown. The present lot, offered in factory new condition, is a rare and stunning limited series Nautilus exemplifying the strength of their long-lasting partnership, and is certain to delight any watch enthusiast.

One hundred percent of proceeds from the sale of this watch will benefit The Nature Conservancy (TNC). Founded in the U.S. in 1951, TNC is a global environmental nonprofit working to create a world where people and nature can thrive. Its mission is to conserve the lands and waters on which all life depends and shape a brighter future for people and our planet. To date, TNC has protected more than 119 million acres of land and 5000 river miles worldwide, with the past support of Tiffany & Co. and The Tiffany & Co. Foundation. With conservation programs in more than 70 countries around the world, their programs are dedicated to food and water sustainability, protecting land and water, deploying solutions for climate change, and building healthy cities.

Subject to local laws, the buyer of this Lot may be entitled to claim a charitable contribution deduction. Under IRS regulations, a deduction will be limited to the excess of the lot’s hammer price paid over its fair market value. Phillips good faith estimate of the Lot’s fair market value is USD $52,635. Bidders are strongly advised to consult their own tax advisors to determine the application of their local tax laws to their specific circumstances and whether a charitable contribution deduction is available to them.

Following the sale of the Lot, Phillips will provide the buyer with the Nature Conservancy’s contact information should the buyer wish to benefit from a charitable contribution deduction that may be available to them.