Patek Philippe Ref 5106 Heavenly Celestial Tops Only Watch 2009 Results

by Ariel Adams (RSS feed)
Sep 25th 2009 at 7:01AM

A Patek Philippe watch has done it again by blowing all other watches out of the water at auction. By all accounts, the auction results of the recently Only Watch 2009 watch auction in Monaco had lukewarm results at best for more than the just over 30 participating watches. Regardless, the top lot was this Patek Phlippe Ref. 5106 Heavenly Celestial watch with date. It fetched 535,000 euros. Almost double was the second top lot was (the Confrerie Horlogerie Les Masters La Clef du Temps Tourbillon watch - which received over 28,000 euros per word in its name, or rather 285,000 euros).

For me it is no surprise that the Patek Philippe unique piece offerings stole the show. In better economic times, the price could have easily exceeded one million euros in my opinion, given how much a watch like this could appreciate in coming years. Still, the results for Patek Philippe are impressive, but predictable. For more information about the unique Patek Phillipe Ref. 5106 watch see my previous post here. Because Patek Philippe watches have been so reliable as "wrist watch investments" the final bid for the watch was likely more as an investment, rather than from an ultra passionate collector. At least this is my prediction. Most watches in this year's Only Watch 2009 auction went for under 35,000 euros. Thanks to watch journalist Elizabeth Doerr for live coverage of the auction.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Filed under: Timepieces / Watches, Auctions