This Rare Vintage Patek Philippe Could Be the Most Expensive Watch Ever Sold at Auction in Australia

First State Auctions, Australia’s leading jewellery auction house specialising in fine jewellery, Swiss watches, designer jewellery, handbags and gemstones, has announced that an extremely rare timepiece; a 1946 manufactured Patek Philippe #1436, will be auctioned in Sydney this month. With an auction estimate of S$347,000 – 695,000, it is set to become the most expensive wristwatch ever auctioned in Australia.

In 2021 a Patek Philippe #1436 sold at auction in Hong Kong for over S$ 2.26 million. This auction presents an unbelievable opportunity to acquire the timepiece at just one sixth of the previous record price. This model holds particular interest to collectors, as it is one of only 160 made by the prestigious Swiss company over a period of 30 years. Patek Philippe archives show the date of manufacture as 1946, with the piece being first sold on 28 October 1949.

This auction is anticipated to soar past the previous record of the most expensive wristwatch auctioned in Australia, also set by First State Auctions in July with the sale of a Richard Mille watch for S$266,000.

The watch will be one of 500 lots to be offered by First State Auctions in an online auction running from 13-19 November 2023. The auction is set to become the largest Australian jewellery auction ever, with a low estimated auction value of over S$3.91 million – greatly exceeding the previous sales record of S$2.97 million.

“This is a once-in-a-lifetime opportunity to secure a Patek Philippe #1436 18ct Yellow Gold Split Seconds Chronograph. Patek Philippe watches are often retained as personal family heirlooms so they rarely become available to purchase and are therefore known for their strong investment and resale value. This watch is an exceptionally rare and sought after example.” said Lili Mustakov, Client Experience Specialist at First State Auctions

“The Patek Phillipe watch is one of over 500 lots in an auction that will also include highly sought-after fine jewellery, extraordinary gemstones and designer handbags, including an incredible 10.10ct square emerald cut natural diamond and 20 Argyle pink diamonds. This landmark auction really will offer a unique platform to buy authenticated pieces at unparalleled prices and could be the beginning of a new heirloom story for successful bidders.” added Ari Taibel, Founder and Director at First State Auctions

Live online auction will be held from 13 November through to 19 November, ending at 8pm AEDT. Registration for bidding is through the First State Auctions website