Vintage Panerai watches lead Phillips Hong Kong auction
Four important vintage Panerai watches were sold by Phillips at the much-awaited Hong Kong Watch Auction: XI, with a superb Panerai Luminor Marina Militare being sold by the prestigious auction house for US$211,270 (HK$1,638,000), over three times the maximum estimated price
Panerai recently announced that four important vintage timepieces went under the hammer for The Hong Kong Watch Auction: XI by Phillips auction house, the destination for international collectors interested in the world’s most important works of art, design, jewels, watches, photographs and editions.
Leading the sale was a superb Panerai Luminor Marina Militare (Ref. 6152/1) with an estimate price of US$30,800-61,500 (HK$240,000-480,000) that was sold for US$211,270 (HK$1,638,000). This impressive result is an acknowledgement of the historical importance and impeccable provenance of this extremely rare Panerai Luminor Marina Militare, which has now earned its rightful place as one of the most iconic watches of all time.
The record for sale of a vintage Panerai watch was set at a Sotheby’s auction held in Geneva in 2014. An extremely rare example of a stainless steel Luminor from 1955 was acquired by a Panerai enthusiast who bid the record sum of CHF425,000 (US$470,413 at today’s rate).
Panerai has a long, well-established heritage that greatly appeals to expert watch collectors worldwide. Its timepieces were initially renowned as outstanding diving instruments originally designed to meet the demanding requirements of the Italian Navy in the late 1930s. Thanks to the rarity of its historical models, produced in very few pieces and its manufacturing production, started in 1998, which has kept its limited and numbered production, Panerai has been an important protagonist of auctions especially in recent years.
- 6152/1: A very rare, oversized and attractive stainless steel diver’s wristwatch with small seconds, “tropical” dial, made especially for the Italian Navy.
Estimated: HK$240,000 – 480,000
Realised price: HK$1,638,000
- GPF2/56: An extremely rare, attractive and oversized stainless steel diver’s wristwatch with small seconds, “tropical” brown dial and crown guard.
Estimated: HK$380,000 – 780,000
Realised price: HK$1,386,000
- 6152/1: A very rare, oversized and attractive stainless steel diver’s wristwatch with crown guard and prototype Plexi bezel.
Estimated: HK$380,000 – 780,000
Realised price: HK$1,260.000
- 6152/1: A very rare, oversized and attractive stainless steel diver’s wristwatch with crown guard.
Estimated: HK$240,000 – 380,000
Realised price: HK$907,200
