Antiquorum will be holding its next auction in Monaco on July 21, 2021, where collectors will have a chance to bid for the very first time on a Patek Philippe Reference 5711/1A-014. Yes, this is the brand-new stainless steel Nautilus with olive-green dial introduced in April 2021 as the model replacing the blue-dialed Reference 5711/1A-010.
The green-dial Nautilus was introduced in April this year sporting a retail price of $34,893 in the United States, and I shouldn’t be as shocked to see this piece of flipper heaven at auction already. There are even seven examples up on Chrono24, for heaven’s sake – one even sporting the proud price tag of €306,859!
Since January of 2016, secondary market values of stainless steel Patek Philippe Nautilus models have surged in a fashion rarely seen in the world of preowned and vintage luxury watches. And given the opportunity to capitalize on the sudden interest of an aging model that long ago recouped all development expenses, Patek Philippe for its part held the line with very few retail price increases for the core 5711/1A, which left the watch reasonably priced relative to what a new owner can obtain from a secondary buyer just minutes after taking delivery.
Patek Philippe Nautilus Reference 5711/1A-014 (photo courtesy Antiquorum)
Then during Watches and Wonders 2021 came Patek Philippe CEO Thierry Stern’s announcement that the brand will replace the blue-dialed Reference 5711/1A-010 with Reference 5711/1A-014 – the only difference between the two being an olive-green dial in place of blue. Unsurprisingly, this new reference became the hottest watch on the market with a waiting list growing by the second.
This model, too, is still reasonably priced in comparison to what a flipper can earn from it.
And as Tim Mosso wrote in Stainless Steel Patek Philippe Nautilus Market Madness: Thoughts On The Current Market Situation, “Patek Philippe sternly enforces MSRP guidelines at dealers, so markups on that front are nearly unheard of. To the extent that consumer resale can be prevented, Patek Philippe attempts to stem the tide, but clients are subject to far fewer formal constraints than dealers.”
According to Antiquorum, lot 152 has been consigned from the original owner and is still factory sealed. Antiquorum’s estimate falls between €50,000 and €150,000, but I think it will end up going higher than that.
Quick Facts Patek Philippe Nautilus Reference 5711/1A-014
Case: 40 x 8.3 mm, stainless steel
Movement: automatic Caliber 26-330 S C, 28,800 vph/4 Hz frequency; 35-45-hour power reserve, Gyromax balance, Spiromax balance spring, Patek Philippe Seal
Functions: hours, minutes, seconds; date
Current retail price: $34,893 / €30,100
Auction estimate: €50,000 – €150,000
Several pieces by Gérald Genta in the Antiquorum Monaco auction
In case the Nautilus is too rich for your blood, you may want to look toward the pieces – lots 82 to 94 and 287 to 293 – representing a retrospective of Gérald Genta’s designs. Aside from the aforementioned Nautilus and a few Audemars Piguet Royal Oak models, the auction also features some pieces from Genta’s own brand that I think are the most interesting in all their quirky glory.
Gérald Genta Retro in white gold with mother-of-pearl dial and 40 diamonds (photo courtesy Antiquorum)
Lot 82 is a white gold Gérald Genta Retro with mother-of-pearl dial and 40 brilliant-cut diamonds on the bezel – in my opinion one of the most desirable variations of what I estimate to be hundreds in existence. Its auction estimate is €5,500 – €7,500.
Gérald Genta skeletonized minute repeater perpetual calendar (photo courtesy Antiquorum)
Lot 293, on the other hand, is a brilliant octagonal Genta minute repeater with perpetual calendar in yellow gold with diamonds and a skeletonized dial. The perpetual calendar of this automatic beauty with a repeater button on the left also features leap year and moon phase indications. Its estimate is €30,000 – €50,000.
Gérald Genta Gefica Safari (photo courtesy Antiquorum)
Other Genta pieces include four variations on the Gefica Safari; two bissextile perpetual calendars; a variety of time-only pieces in all shapes, sizes and movements; an automatic chronograph; and a stunning quartz-powered pink gold piece on a bracelet decorated with gold granules (lot 287).
Other notable lots
Out of the total 433 lots on offer, there are also four Daniel Roth pieces (lots 126, 127, 128, and 396) plus an early De Bethune DB5Y from 2002 (lot 129).
F.P. Journe Chronomètre à Résonance Souscription (photo courtesy Antiquorum)
And there are plenty of F.P. Journes on hand: a Linesport Centigraphe S in aluminum (lot 153); an Octa Reserve in platinum (lot 425); and an original Chronomètre à Résonance Souscription from 1999 (lot 424) with an estimate of €250,000– €500,000 – and judging by the last auctions (notably Phillips’ Geneva Watch Auction: XI in June 2020, where an example went for CHF 1,040,000) in which this watch appeared, this may well be accurate.
A. Lange & Söhne Tourbillon Pour le Mérite (photo courtesy Antiquorum)
An A. Lange & Söhne Tourbillon Pour le Mérite in yellow gold (lot 435) is also available in this auction. The Tourbillon Pour le Mérite is one of the four models introduced at A. Lange & Söhne’s re-launch in 1994. Produced from 1994 to 1998, a total of 200 Tourbillon Pour le Mérite watches exist, comprising 19 examples in white gold, 24 in pink gold, 106 in yellow gold, and only one in stainless steel. The estimate here is €115,000 – €175,000.
Vintage Jaeger-LeCoultre Reverso from 1931 (photo courtesy Antiquorum)
And last but not least, you may want to cast an eye over some truly vintage Jaeger-LeCoultre Reversos on the block: Reference 2207 from 1933 (lot 180); a 90-year-old yellow gold edition from 1931 (lot 181); Reference 2201 from 1938 (lot 183); a small 28 x 18 mm variation in stainless steel for the French market from 1940 (lot 183); and a stainless steel piece from the 1940s for the U.S. market (lot 285).
The yellow gold piece from 1931 has the highest estimate here at €8,000– €15,000.
Quick Facts F.P. Journe Chronomètre à Resonance Souscription
Case: 38 mm, platinum
Movement: manually wound Caliber 1499, 2 independent gear trains including regulators, free-sprung balances with 4 inertia weights each, 2 one-second remontoirs d’égalité for constant force, 3 Hz/21,600 vph frequency
Functions: 2 x hours, minutes, seconds; power reserve indication
Production year: 1999
Auction estimate: €250,000– €500,000
To see the full auction catalogue for the July 21 event, please visit issuu.com/antiquorumgenevesa/docs/auction_july_21_2021_monte_carlo_hotel_de_paris.
You may also enjoy:
Stainless Steel Patek Philippe Nautilus Market Madness: Thoughts On The Current Market Situation
Geneva’s Auction Week May 2021: Record Results And High Notes, Especially For Independent Brands
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I understand that owners have far fewer restrictions, but can’t Patek just check who the warranty is registered to and simply ban (or blacklist or whatever term fits best legally) the owner from ever buying a Patek in the future since this sale is clearly a flip?
Given the strong grip they have on their ADs it should be simple enough to tell the AD not to sell anymore pateks to this particular flipper. And instead they can sell to the dozens of people waiting in line to get a Patek!
I know Patek won’t be able to legally go after them for the act of selling the watch, but not being able to buy a new Patek again would surely deter quite a few people.
That’s what they’re doing already. This is obviously Patek themselves trying to drive up the craze, anyone buying from Patek the AD has to cut open the plastic bag containing the watch immediately and no AD would be so foolish not to follow this rule or they get cut off by Patek forever.
And this is no secret Patek has done similar before, this is just Patek trying to keep their status up float with this little trick.
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