The watch world has officially gone insane. Yesterday, during Antiquorum’s Monaco sale, a green dial Patek Philippe Nautilus Ref. 5711 sold for €320,000. After fees, that rings the till up to at least $642,000. Why is this of note? Because the watch in question retails for just $49,350.
While that price remains one of the more jaw-dropping auction results we’ve seen in recent years, there is a little context for that figure. When this watch first surfaced in the Antiquorum catalogue, we detailed how it could sell for close to half a million dollars. That was based on a few factors that were sure to work together to drive the price beyond the stratosphere.
Firstly, there is insatiable, ongoing market demand for the Patek Philippe Nautilus collection, but specifically for the Ref. 5711. Earlier this year, the President of Patek Philippe Thierry Stern announced that the Ref. 5711 would be discontinued in its current form, sending the market into an absolute frenzy. In April the new version was released with a green dial.
While that price remains one of the more jaw-dropping auction results we’ve seen in recent years, there is a little context for that figure. When this watch first surfaced in the Antiquorum catalogue, we detailed how it could sell for close to half a million dollars. That was based on a few factors that were sure to work together to drive the price beyond the stratosphere.
Firstly, there is insatiable, ongoing market demand for the Patek Philippe Nautilus collection, but specifically for the Ref. 5711. Earlier this year, the President of Patek Philippe Thierry Stern announced that the Ref. 5711 would be discontinued in its current form, sending the market into an absolute frenzy. In April the new version was released with a green dial.
