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Time is cash: `Asprey’ may bring up to $four million at auction

“The Asprey”, a Patek Philippe perpetual calendar chronograph watch reference 2499, is pictured throughout a press preview forward of the upcoming auction at Sotheby’s in Geneva November 7, 2018. REUTERS/Denis Balibouse

GENEVA (Reuters) – “The Asprey”, a legendary classic Patek Philippe watch, will go on the auction block subsequent week in Geneva, the place it might fetch $2 million to $four million, Sotheby’s stated on Wednesday.

Made in 1952 and bought 4 years later, the Swiss luxurious wristwatch is the star lot amongst 250 watches and pocket watches on supply at Tuesday night’s sale.

“The watch is a perpetual calendar chronograph and is unique in that it was retailed by the famous London retailer Asprey’s,” Sam Hines, international head of Sotheby’s watch division, advised Reuters. “The watch is in pristine condition, it has never been polished and it is the greatest quality you can find.”

The unique proprietor, whose initials, R.C., are engraved on the again of the watch’s yellow gold case, in all probability obtained it for his 21st birthday, however has not been recognized, the auction home stated.

“It is a reference 2499, which is the hottest and most collectable reference of Patek Philippe,” Hines stated. “We have been marketing at exhibitions in Asia and Dubai. I think it will have a lot of Asian interest because most of our strongest buyers today come from Asia.”

The present proprietor purchased it at auction in 2006 for two.2 million Swiss francs (now $2.21 million), a document for the reference at the time, Sotheby’s stated. Worn on a brown leather-based strap, it affords the day and date, a cease watch and phases of the moon.

Hines, requested concerning the Chinese luxurious market cooling in an period of much less ostentation underneath a authorities anti-corruption drive, stated: “We do have clients in China. It is true with the sort of need to be less ostentatious, tastes have become more conservative. So vintage watches really do fit the new taste.”

Reporting by Stephanie Nebehay, modifying by Larry King

Our Standards:The Thomson Reuters Trust Principles.

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