WATCH COLLECTING ACHIEVES WORLD'S FIRST AUCTION SALE OF PATEK PHILIPPE'S 50TH ANNIVERSARY ELLIPSE

Speculative dealer prices abound online, but Watch Collecting sets the market level.

WATCH COLLECTING ACHIEVES WORLD'S FIRST AUCTION SALE OF PATEK PHILIPPE'S 50TH ANNIVERSARY ELLIPSE

At its launch in 2018, Patek Philippe's 5738/50P-001 represented the pinnacle of the historic Golden Ellipse collection. Introduced in 1968 the Ellipse is the second oldest collection in the brand's catalogue after the Calatrava. The distinctive lug-less design has become something of a cult classic, instantly conveying the essence of a jet-set lifestyle through the '70s until now. In 1977 the watch was upgraded from manual-wind to the ultra-thin automatic calibre 240 which remains in current use.

To celebrate 50 years of this icon Patek created a limited edition of 100 watches in platinum. The black enamel dial is decorated with a hand-engraved volute pattern with the case back reading “Ellipse d’Or 1968-2018”. Included in the set were a pair of white gold, oval cufflinks engraved to match the watch dial.

Since 2018 the watch has been a stranger to the auction block. While examples have been listed at various speculative prices with dealers, only one has previously been offered at auction in 2020, and that failed to find a buyer.



Now, Watch Collecting is the first auction platform in the world to achieve a sale for this reference. Crucially the seller will receive 100% of the £70,000 hammer price for the watch following Watch Collecting's 'List for free, Sell for free, Hassle free', business model.