Sotheby’s Geneva, 13 November 2018 "Important Watches": Patek Philippe "The Asprey" Reference 2499 Sells For Record $3.9 million

THE MOST EXPENSIVE WATCH SOLD AT AUCTION IN 2018

“THE ASPREY”

One of the Most Important Vintage Wristwatches in the World

Soars to CHF 3.9 million / $3.9 million

- Record for a Patek Philippe Reference 2499 -

SECOND HIGHEST TOTAL IN 10 YEARS

FOR A WATCH SALE AT SOTHEBY’S GENEVA

CHF 12.2m / $ 12.1m

Sam Hines auctioneering The Asprey in Geneva

Geneva, 13 November 2018 – This evening, Sotheby’s Geneva sold the most expensive watch auctioned this year. One of the world’s most important vintage watches ever presented at auction, “The Asprey” soared to CHF 3,915,000 ($3,879,834). “The Asprey” - a Patek Philippe perpetual calendar chronograph reference 2499 manufactured in 1952 - was the star lot of an exceptional selection of world-class vintage wristwatches. The auction attracted over 900 bidders from 54 countries, with nearly a quarter of buyers choosing to buy online. Testament to the huge potential in this market and the depth of demand for the finest pieces, 30% of participants were new to Sotheby’s. Enthused by the quality and expertise they found in today’s sale, international collectors drove the final total of the “Important Watches” sale to CHF 12,208,000 ($ 12,098,372) – the second highest total in ten years for a Sotheby’s watch sale in Geneva[1] (est: CHF 9.8m – 16.9m / $9.7m – 16.7m). 81% of lots sold, with almost half of them selling above the high estimate.

Patek Philippe “The Asprey” Perpetual Calendar Chronograph Reference 2499 manufactured in 1952

Speaking after the sale, Sam Hines, Global Head of Sotheby’s Watches, commented, “The enthusiasm we felt from international collectors before the sale has translated into strong bidding today, in recognition of the world-class quality pieces we offered, including of course the legendary “Asprey”. This watch is the ultimate 2499: enormously rare, absolutely pristine – a dream for watch lovers. In 2018, we have seen some of our best results in years, and we are delighted that our approach, seeking out the very highest quality and focusing on expertise, has resonated with collectors.”

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