Breaking News: A Patek Philippe Ref.1518 in Pink Gold, from the Collection of Jean-Claude Biver, Sells for CHF 3.4 Million / US$ 3.6 Million
Phillips in Association with Bacs & Russo has resumed its live watch auctions with record-breaking results in the first session of The Geneva Watch Auction: XI. An unprecedented number of bidders from 67 countries participated in the sale, including a record number of almost 1,800 online bidders, with more expected tomorrow.
The iconic Patek Philippe reference 1518 in pink gold, formerly the Property of Mr. Jean-Claude Biver, sold for CHF 3,380,000 / $3,565,224 / €3,177,538 to a phone bidder. This is a new world record for this variant in precious metal. The previous world record for the reference 1518 in stainless steel was sold for CHF 11,020,000 / US$11,112,020 in 2016, in the Geneva Watch Action: FOUR.
The live streaming of the auction allowed watch enthusiasts from around the world to follow this historical moment online. The atmosphere is filled with excitement and the sale continues tomorrow with the second session.
Aurel Bacs, the Auctioneer of the sale, and Alex Ghotbi, Head of Watches, Continental Europe and the Middle East, jointly said: “We are back! These results show the huge and unwavering international hunger for rare timepieces of the highest quality and exceptional provenance. We are honored that Jean-Claude Biver entrusted Phillips with such historical timepieces from his personal collection, and to achieve a World Record for the Patek Philippe Ref.1518 in Pink Gold is a moment we will never forget.”
Two further highlights from the Jean-Claude Biver’s collection will be offered tomorrow, Sunday 28 June, as the sale continues.
In addition, two incredible F.P. Journe “Souscription” models set new world record prices at auction (excluding those sold for charity). These include the Tourbillon selling for CHF1,400,000, and the platinum and pink gold Resonance selling for CHF1,040,000. Both timepieces were consigned by famous Parisian Jeweller Lorenz Baümer, showing the increasing appetite for watches by independent watchmakers, a category that Phillips has highly supported and championed for many years now.