NEW HAMBURG, Ontario, Canada – A Patek Philippe Reference 3940 perpetual calendar men’s watch with 18K 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 12. It was the top lot in a sale that grossed $305,354. All prices quoted are in Canadian dollars.
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 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 sold 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 their high estimates.
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, sold for $24,780. Also, a 1969 Rolex Reference 5513 Submariner finished at $16,520.
A diamond solitaire ring with a 14K white gold band and a center stone weighing 1.99 carats by scale brought $15,340. Also, a Victorian intaglio seal charm bracelet with 16 unique charms, including a collapsible 9K gold cigarette holder marked “Dunhill .375” and a pocket watch key, sold for $4,425.
A 1978 Rolex Reference 1680 Submariner watch with an oyster band and a dial signed, “Rolex Oyster Perpetual Date Submariner 600 ft – 200m Superlative Chronometer Officially Certified Swiss,” sold for $14,750; while a 1963 Rolex Ref. 5501 Explorer Precision watch, a steel and 14K gold version of the North American market Explorer that has become desired by collectors, realized $5,605.
A 1983 Tag Heuer Silverstone wristwatch with stainless steel watch and band settled at $5,605. Also, a 1990s Rolex Ref. 16013 Datejust watch in its original Rolex box with string tags and a 1988 date card, sold for $3,835.
A 14K diamond tennis bracelet featuring 121 round brilliant cut diamonds found a new owner for $3,835. Also, an 18K gold, diamond, and sapphire tennis bracelet with 18 brilliant cut diamonds as well as 18 oval faceted medium blue sapphires, went for $1,416.
The current rate of exchange is dollar CA 1 = 82 cents.
View top auction results on LiveAuctioneers here: https://www.liveauctioneers.com/pages/recent-auction-sales/