Rare and collectable Patek Phillippe watch goes on sale at Chiswick Auctions

Image above: Philippe Patek Nautilus watch with a diamond set Sigma dial

Increase in pre-owned luxury watches available for sale

Even the market in luxury watches is affected by the cost of living crisis it seems. Arjen van de Vall, chief executive officer of pre-owned watch specialists Watchfinder, told Bloomberg earlier this year:

“There is pain for sure. You see supply going up significantly for models that we would literally have killed for just a couple of months before.”

Watchchart, which puts together an overall market index comprised of 60 watches taken from the top 10 luxury watch brands by transaction value, shows the average market price had dropped from $33,000 US on 10 December to $31,349 US at the end of May.

Watch dealers and investors have flooded the market with models such as Rolex Daytona, Patek Nautilus and AP Royal. All of which is good news for auction houses and anyone with the money to take advantage of the price drop.

Image above: Philippe Patek Nautilus watch with a diamond set Sigma dial

Chiswick Auctions has a rare and collectable Patek Phillippe watch for sale in their specialist sale of watches on Wednesday 14 June. The Nautilus reference 3800 in stainless steel with a white gold and diamond set Sigma dial is expected to sell for £45,000 – £55,000.

‘Sigma’ dials were first used from the early 1970s, the term referring to dials with indexes and hands made of solid gold. They are easily recognised by the use of Greek letters around the word Swiss – an indication that the watchmaker belonged to L’Association pour la promotion Industrielle de l’Or. Only APROI members were allowed to mark their products in this way.

The reference 3800 has a diameter of 38mm. It was launched in the early 1980s, as a scaled-down version of the Nautilus 3700 – the ‘Jumbo’ – featuring an integrated watertight ‘porthole’ case by Swiss watch designer and artist Gérald Genta (1931- 2011).

Most version of the Nautilus were made in solid gold or platinum for this watch made in stainless steel with a diamond set Sigma is a rarity and one of only around 15 that have appeared at auction. The watch, dating from 1994, comes with paperwork, including a recent service document from Patek Philippe London, plus extra bracelet links.

chiswickauctions.co.uk

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