Introducing The Patek Philippe Reference 5208T-010 In Titanium For Only Watch 2017

At the last edition of Only Watch, however, in 2015, Patek Philippe offered a steel ref. 5016 which ended up hammering for an incredible CHF 7,300,000 – at today's exchange rate, that's about $7.54 million. This was in fact a new auction record for any wristwatch, although the steel 5016 was not destined to hold the title for very long. Just last year, another steel Patek Philippe took the crown: a stainless steel reference 1518 hammered for over $11,000,000 at Phillips, Geneva, in November. That record still stands as the highest price ever paid for a wristwatch at auction.

All this is by way of saying that Patek Philippe's Only Watch contributions draw by far the greatest attention as well as by far the highest results, often accounting for half or more of the revenues for the entire event. As such it's no wonder that there was much curiosity about what Patek might unveil for Only Watch 2017 and they've contributed a watch which at the very least is likely to draw at least as much attention and which may indeed draw equally impressive results (certainly it's for a worthwhile cause). 

The watch in question is a reference 5208, self-winding minute repeater, chronograph, and instantaneous perpetual calendar, in a titanium case. Titanium is very rarely used by Patek Philippe – for example there is only one known Sky-Moon Tourbillon in a titanium case and it's so unusual for a titanium cased Patek of any reference to come up for auction that when they do (as several did in 2014) it's major news. Therefore it seems reasonable to assume that this piece will perform extremely well; it's merely a question of what multiple over the estimate of CHF 900,000-1,100,000 (about $931,000-1,137,700) will be reached.

The recent failure of a Patek Philippe Caliber 89 to find a buyer when it was offered by Sotheby's recently has been taken by some as a sign that the market for Patek at auction is somewhat soft, but that particularly offering was an unusual circumstance in that it was a pocket watch being offered (admittedly one of the most horologically important of the 20th century) rather than a wristwatch and as well the low estimate may have been optimistic, discouraging opening bids. In any case, a unique titanium grand complication wristwatch from Patek Philippe should produce an excellent result for Only watch, though it remains to be seen whether the breathtakingly superlative results that Patek has enjoyed consistently will or can be surpassed in the current climate. For this cause we hope so and wish Patek and Only Watch the best of luck.

Find out more about Only Watch and the Association Monégasque contre les Myopathies right here. Ref. 5208T-010: movement, caliber R CH 27 PS QI, self-winding chronograph with minute repeater, and instantaneous perpetual calendar with day/night indication. Titanium case, 42mm x 15.11 mm with two casebacks, one solid titanium and the other with sapphire crystal. Dust and humidity protected (not water resistant). Blue dial with hand-guilloché "carbon" pattern, gold applied indexes with luminous coating. Cordura strap with folding clasp.