A Patek Philippe Reference 3940 perpetual calendar men’s watch with 18kt white gold case and clasp, one of the most iconic perpetual calendar wristwatches available today, sold for $50,150 in Miller & Miller Auctions, Ltd.’s online-only Watches & Jewelry auction held June 12th. It was the top lot in a sale that grossed $305,354.
All prices quoted in this report are in Canadian dollars and include an 18 percent buyer’s premium.
The Patek Philippe Reference 3940 is mostly found in yellow gold, with far fewer examples in 18K white gold, making the watch in the sale that much more desirable. Originally purchased in 1999 from Tourneau in New York, it was signed on the case, movement, dial and clasp, and included the original presentation box and literature.
The auction was filled with a generous offering of pocket watches unlocked from longtime collections; railroad grade pocket watches from Waltham, Elgin, E. Howard Co., Ball Watch Co., Hamilton, Illinois, and many more; vintage and modern wristwatches from luxury brands such as Rolex, Patek Philippe, Omega, Longines and others; and a select jewelry offering of rings, necklaces, bracelets and many other investment-grade pieces.
“With Rolex and Patek Philippe prices at all-time highs, collectors are beginning to turn their eye to other brands,” said Justin Miller of Miller & Miller Auctions, Ltd. “Everybody knows Rolex and Omega, but as your collection grows, your tastes mature and you may develop an appreciation for brands such as Vacheron Constantin, Patek Philippe or A. Lange & Sohne.”
Miller said Vintage Heuer sports model wrist watches have enjoyed steady appreciation in recent years. “The demand for original, unrestored examples has never been higher,” he said. “Our lot 236, a Tag Heuer Autavia GMT 2446C watch, featured a blue and red ‘Pepsi’ GMT bezel, a very popular look with today’s collectors and enthusiasts.” The watch gaveled for a robust $17,700.
Following are additional highlights from the 314-lot auction, which attracted 456 registered online bidders who placed a total of 5,654 bids. A little more than one-third of the lots sold met or exceeded their pre-sale estimates, and 11 percent of lots surpassed even the high-end estimate.
A Rolex Reference 1680 red Submariner Date men’s watch from 1972 with stainless steel case and band, marked, “Montres Rolex S.A Geneva Switzerland Patented Stainless Steel 1680” on the inner case-back, fetched $24,780. Also, a 1969 Rolex Reference 5513 Submariner, perfect for sport and scuba diving or used as a tool watch (buzzwords for it included meters first, matte dial with white text and calibre 1530), finished at $16,520.
Miller & Miller Auctions, Ltd. has three major auctions planned for autumn, all of them falling on a Saturday. A Toys & Nostalgia auction featuring the Bryan Beatty collection will be held on September 11th; a Canadiana sale is scheduled for October 9th; and a Watches & Jewels auction will take place on November 20th. All will be online-only.
To learn more about Miller & Miller Auctions, Ltd. and the auctions planned for fall, please visit www.MillerandMillerAuctions.com.