A rare Watch made by Patek Philippe sold for US$5.8 million (Rp 88 billion) in an online auction in Hong Kong. The figure makes it the most expensive watch bought in an online auction in the world.
In a report by the South China Morning Post (SCMP), Friday (24/3/2023), the watch is named ‘Sky Moon Tourbillon’. The Watch, which has a handmade blue enamel dial and a hand-carved case in white gold, was auctioned by auction house Christie’s on Tuesday.
The watch, with reference number 6002G-001, was originally sold in Geneva in 2015 and is considered one of the most elaborate timepieces in the world. The watch featured 12 feature compilations, including a perpetual calendar with a countdown date display and a chiming minute repeater.
According to Christie’s, the price suggests collectors are still willing to pay for rare watches. Although there are troubling problems in the banking sector.
Expensive watches are a favorite luxury of bankers who use cash from annual bonuses. But they are now facing difficult times after the emergency takeover of Credit Suisse Group AG by compatriot rival UBS Group AG and the collapse of Silicon Valley Bank.
The secondary market for several luxury watches made by Swiss brands such as Rolex, Patek, to Audemars Piguet also jumped to a new record during the pandemic and entered the first quarter of 2022. However, the price then fell sharply as interest rates began to rise and the cryptocurrency began to collapse.
“Watch markets around the world continue to be very vibrant, evidenced through the diligent global offering witnessed by this sale,” Alexandre Bigler, vice president and head of watches at Christie’s Asia-Pacific, said in a statement.