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Patek Philippe Reference 3940 Perpetual Calendar Men's Watch Hits $50,150 in Miller & Miller Auction
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.
A diamond solitaire ring with a 14kt white gold band and a center stone weighing 1.99 carats by scale (F color and VS2 clarity), a fabulous, investment-grade natural diamond, plus 18 0.015-carat shoulder diamonds, brought $15,340. Also, a Victorian intaglio seal charm bracelet, 9kt to 18kt gold, with 16 unique charms, including a collapsible 9kt gold cigarette holder marked “Dunhill .375” and a pocket watch key knocked down for $4,425.
A 1978 Rolex Reference 1680 Submariner watch with an oyster band, creamy luminous hands and a dial signed, “Rolex Oyster Perpetual Date Submariner 600 ft – 200m Superlative Chronometer Officially Certified Swiss”, gaveled for $14,750; while a 1963 Rolex Ref. 5501 Explorer Precision watch, a steel and 14kt gold version of the North American market Explorer that has become desired by collectors, commanded $5,605.
A 1983 Tag Heuer Silverstone #510.403” wristwatch with stainless steel watch and band, distinct design, limited production, Lemania calibre 5012 and a double Quick set date, in overall excellent condition, settled at $5,605. Also, a 1990s Rolex Ref. 16013 Datejust watch, stainless steel with 18kt gold bezel, a leather strap, champagne dial, Quickset date, retained in its original Rolex box with string tags and a 1988 date card, sold for $3,835.
A 14kt diamond tennis bracelet featuring 121 round brilliant cut diamonds having a total weight of 2.00 carats, SI-I1 clarity and GHI color and a gross weight of 23.51 grams, 15 inches long, found a new owner for $3,835. Also, an 18kt gold, diamond and sapphire tennis bracelet containing 18 brilliant cut diamonds weighing 0.94 carats, averaging G color and VVS2 clarity, plus 18 oval faceted medium blue sapphires, went for $1,416.
Internet bidding for the auction was facilitated by LiveAuctioneers.com, as well as the Miller & Miller website: www.MillerandMillerAuctions.com. Bidders were able to tune in to the live webcast on June 12th to watch lots close in real time. Phone and absentee bids were also taken.
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.