Patek Philippe dominates Bonhams’ record-breaking Hong Kong sale
A Patek Philippe Grand Complications Ref. 5016P-018, circa 2010, stole the show at Bonhams’ recent Hong Kong sale.
The Patek set a world auction record for a 5016P reference at the May 31 event, selling for HK$8,894,000 (US$1,134,000).
Featuring a minute repeater, tourbillon, and retrograde perpetual calendar, the final sale figure was 2.5 times the low estimate that the auction house had given it.
It was part of an overall sale that totalled HK$41 million (roughly $5.2 million), marking the highest watch sale total ever achieved by Bonhams worldwide.
“The strong results reflect a vibrant, rational market where collectors prioritise watches of distinctive appeal and value — defined by technical brilliance, craftsmanship, rarity and provenance,” said Bonhams’ international director of watches in Asia, Sharon Chan.
“The record for the Patek Philippe Ref.5016P, together with strong demand for independent watchmakers, speaks directly to this. At Bonhams, we know the market and our clients. With precise curation, the right offerings and attractive estimates, the market responds.”
Another Patek Philippe was also a strong performer on the day — a Ref. 5539G, circa 2014, minute repeater with one-minute tourbillon, which achieved HK$3,306,000 (US$421,000).
