The proceeds from the most expensive Patek Philippe Nautilus will go to Children Action, a Swiss charity that supports global initiatives for the health, education, and well-being of underprivileged children.
Patek Philippe continues to dominate the auction world, with the latest new record for the highest-selling Nautilus timepiece. Earlier this week at the 30th anniversary of the Children Action auction in Geneva, Patek Philippe’s 5711 Nautilus sold for a record amount of US$7.67 million. This wasn’t just a standard Nautilus either, as it was intricately decorated with Maori-style engraving.
Another factor that would’ve helped push the 5711 Nautilus to new record prices is that Patek Phillipe discontinued the model a few years back. The final “farewell” piece was the 5711 in Tiffany Blue dial with the Tiffany Blue stamp released in 2021. This means that three years after its retirement, it has made a comeback one last time to support a very worthy cause.
To give a sense as to how well this Nautilus did during the auction, the previous record for a Nautilus being sold in auction was the Tiffany Blue 5711, which sold for US$6.2 million. As this was a farewell piece for the 5711 line, it garnered global attention, driving the final price to astronomical heights.
The Nautilus isn’t the only model from Patek Philippe that’s done incredibly well during auction either. Patek Philippe holds the record for the most expensive watch (and wristwatch) sold at auction. On November 9th, 2019, in Geneva, Patek Philippe’s Grandmaster Chime Ref. 6300A-010 sold for an astonishing US$31.19 million during a Christie’s auction.
This was then followed by 10th edition of Only Watch held this year, where Patek Philippe “chose to highlight its know-how in the field of striking watches by reinterpreting the Grande Sonnerie reference 6301, an exceptional watch launched in 2020, combining a Grande Sonnerie (the “grail” of acoustic functions), a Petite Sonnerie and a minute repeater.” Only Watch is a biennial charity auction of luxury watches where the brands present a unique “one-off” timepiece for auction. This is where they can experiment and create something truly unique, or in the case of Patek Philippe, truly showcase the brand’s expertise of ultra-fine craftsmanship advanced complications.
While the Children Action auction doesn’t require brands to present unique watches, Patek Philippe still went the extra mile to make something special. The Children Action auction is an annual charity event organised by the Swiss foundation Children Action, which supports disadvantaged children worldwide. Patek Philippe has been supporting this auction since 2005, creating timepiece to help this great charity. During the Children Action auction in 2022. held in Geneva by Philipps, Bacs & Russo, Patek Philippe once again presented a unique timepiece that once again sold for a record price. The timepiece was the first ever titanium version of the perpetual calendar chronograph Ref. 5270T-010, selling for a whopping 9.7 million Swiss francs.
For this year’s Children Action auction, Patek Philippe chose to resurrect the Nautilus in steel, reference 5711/1500A, accompanied by a pair of cuff links that have the same Maori-inspired engraving. Patek Philippe chose to keep this unique Nautilus timepiece in steel as the material has a special place in the collection. The original Nautilus was presented in stainless steel, which at the time of its unveiling went against most traditional watchmaking, where brands were releasing luxury sports timepieces in precious metals.
All proceeds from the sale of the most expensive Patek Philippe Nautilus will help fund support programs focused on health, education, and psychological well-being through Children Action, ensuring that the auction’s success translates into meaningful impact for children in need.
