Patek Philippe 5711 Tiffany Blue, sold for NT$180 million, HK$50 million

The PHILLIPS New York auction on December 11 was exciting from 10am EST, because the Patek Philippe Nautilus Ref. 5711/1A-018 “Tiffany & Co.”, lot numbered Lot 1T, was sold at a hammer price of USD 5,350,000, and the transaction price including commission was USD 6,503,500, which is about NT$180 million, more than HK$50 million, and more than 100 times the price.

5711/1A-018 is lot numbered Lot 1T. Since there is no reserve price, the initial bid was quite conservative, but it jumped to USD 1 million in less than a few minutes, and then it started to go crazy. After a tug-of-war between the 100,000 USD levels, it was finally sold at USD 5,350,000, and was won by an online buyer. With a commission of about 20%, the transaction price is USD 6,503,500.

This powerful combination of 5711 + stainless steel + Tiffany blue dial is the latest model of Patek Philippe’s super popular model Nautilus 5711: Ref. 5711/1A-018 “Tiffany & Co.”, limited to 170 pieces, as a huge gift to commemorate the 170-year partnership between Patek Philippe and Tiffany since 1851. The watch has a lacquered dial in Tiffany’s most famous patented brand color “Tiffany Blue” – this is also Patek Philippe’s first “Tiffany Blue” dial. The PATEK PHILIPPE at 12 o’clock and the TIFFANY & Co. at 6 o’clock are both printed in black fonts. The “Tiffany Blue” lacquered dial also has a subtle texture of Tiffany’s classic paper box.

This is not only the first 5711/1A-018 sold, but all the proceeds will be donated to The Nature Conservancy in the United States. The other 169 pieces will be sold only in TIFFANY stores in New York, Beverly Hills and San Francisco. This is a model that only VVIPs can buy, and with today’s high auction price, the competition among collectors is bound to be more intense.