Monday 13 July 2020

The coveted Pearl of Bahrain watch
Image: Christie's

The Pearl of Bahrain watch auctions for over $250,000

GENEVA, June 14, 2018

A rare 1958 Patek Philippe watch has been auctioned off for CHF 250,000 ($253,360) at Christie’s Rare Watches auction, which was held at the Four Seasons Hotel des Bergues last month.

Labelled 'The Pearl of Bahrain', the watch is one of Patek Philippe's most remarkable time-only pieces ever made. Featuring a pink starburst dial, the unique piece uses natural seed pearls harvested from off the coast of Bahrain to mark each hour.

The top lot of the section and the entire sale was Patek Philippe’s “Grand Complication” reference 5208P selling for CHF750,500 ($760,587). It is one of Patek Philippe’s most complicated wristwatches ever made, offered exclusively to the firm’s top clients.

Preserved like new, the present platinum reference 5208P is only the second example to come to auction.

The Property of an Important Swiss Private Collector, lots 136-182 includes 47 mostly contemporary wristwatches compiled by the Swiss collector over the last decade and was highlighted by the two Richard Mille watches – first, RM011 R. Grosjean Lotus F1 Team selling for CHF187,500 ($190,020) and secondly, the RM030 Argentina Especial Limitata No. 26/30, which achieved CHF 118,750 ($120,346).

The entire collection totaled just under CHF 1.2 million ($1.21 million).

Sabine Kegel, head of the Geneva Watch Department, said: “Over the past three days of viewing, we welcomed over 1,200 visitors from around the world. The room was dynamic and unique and privately consigned watches drew strong interest amongst the 813 registered bidders from 43 countries. The balanced offering of vintage and modern watches was well received by all, including bidding via Christie’s Live, which increased by 1/3 compared to November 2017. Many lots doubled, triples or quadrupled their pre-sale estimates, such as lot 42, a Jaeger- LeCoultre, made for the 1952 Roland Garros tennis tournament, selling for CHF42,000 ($42,564.5) against a pre-sale estimate of CHF10,000 ($10,134.4), or lot 46 a pocket-watch by Patek Philippe, manufactured in 1910, selling for CHF 175,000 ($177,352) against a low pre-sale estimate of CHF50,000 ($50,672).”

Overall, Christie’s Rare Watches auction totaled CHF12,241,750 ($12,406,300).

The sale offered 221 mainly consigned by private collectors from Europe and sold 86 per cent by value and 88 per cent by lot. - TradeArabia News Service

Tags: Bahrain | Watch | Pearl | Auction | Christies | Philippe |

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