Phillips in Association with Bacs & Russo Presents a Patek Philippe Reference 2499 First Series with Certificate of Origin to Lead The Hong Kong Watch Auction: XII

  • HONG KONG, Hong Kong
  • /
  • May 10, 2021

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Patek Philippe Ref. 2499 first series yellow gold perpetual calendar chronograph wristwatch. Circa 1953. Estimate: HK$ 12,000,000 - 23,000,000
Image Courtesy of Phillips

Phillips in Association with Bacs & Russo Presents a Patek Philippe Reference 2499 First Series with Certificate of Origin to Lead The Hong Kong Watch Auction: XII


A Unique Harry Winston Opus One Tourbillon by F.P. Journe will also Star in the Two-Day Watch Auction Series


HONG KONG – 10 May 2021 – Phillips  in Association with Bacs & Russo is pleased to reveal additional highlights and present the full catalogue for The Hong Kong Watch Auction: XII, following the recent announcement of selected highlights from the sale. Leading this season’s two-day auction series on 5-6 June is a Patek Philippe reference 2499 first series yellow gold perpetual calendar chronograph wristwatch with Italian calendar, from 1953. Fresh to the market, this is the first time that a reference 2499 in yellow gold from the first series with a Wenger case and original Certificate of Origin has ever been offered at auction. In addition, this season’s sale will offer a selection of timepieces from the most prominent independent watchmakers, including an extremely fine and unique Harry Winston Opus One platinum tourbillon wristwatch with Remontoire d’Égalité, made in collaboration with F.P. Journe.


Video:  Patek Philippe Ref. 2499 first series yellow gold perpetual calendar chronograph wristwatch


Thomas Perazzi, Head of Watches, Asia, said: “Following the tremendous results of all four series of the Patek Philippe reference 2499, which sold for a remarkable total of CHF5.7 million/ US$6.3 million in last night’s ‘white glove’ Geneva sale, we are honoured to present an exceptionally rare reference 2499 from the elusive first series. Coming to auction with its original documentation, it hails from the collection of the descendants of the original owner and is the star lot of this season’s evening session of the Hong Kong Watch Auction: XII. The rare appearance of such an example at auction is exciting and a truly once-in-a-blue-moon opportunity for esteemed watch collectors to acquire such a trophy. In addition, an exceptional 2499 third series in yellow gold accompanied by a full set of accessories will also highlight the sale. Phillips has seen a rapid rise in interest in Independent Watches across Asia, and this season we are delighted to continue our tradition for shining a spotlight on Independent Watchmaking with offerings by amazing watchmakers, including a unique Harry Winston Opus One featuring a tourbillon and pink dial  made in collaboration with F.P. Journe.”


Patek Philippe Reference 2499


As the only wristwatch with the specific complications available on the market at the time of its launch, Patek Philippe’s legendary reference 2499 perpetual calendar chronograph is widely regarded as one of their greatest timepieces. The present example reference 2499 in yellow gold from 1953 encased in a 37.7mm diameter Wenger-made case is one of the 22 examples in yellow gold with Wenger case currently known of. Adding to its importance and rarity, this early example of the reference is further accompanied by its original Certificate of Origin with a date code "ATHR" indicating the issuance in December 1956, original envelope with corresponding movement numbers, as well as an Extract from the Archives confirming its production in 1953.


Also on offer this season is a reference 2499 from 1977, which is part of the last production from the third series just before its transition. The present example in yellow gold with Wenger case appears on the market for the second time, preserved in excellent condition and previously offered by the family of its original owner.


Independent Watchmaking


Appearing on the auction market for the first time, the present Harry Winston Opus One is a unique piece featuring a tourbillon with Remontoire d'Égalité and a pink dial, made in collaboration with F.P. Journe. Establishing a momentum for the Opus series for years to come, the Opus One can arguably be considered as the most important project for both brands. This watch presents a rare opportunity for collectors to acquire a coveted and unique example of one of the earliest creations from the esteemed and respected Journe.


The Harry Winston Opus V was launched in 2005 in collaboration with Felix Baumgartner, co-founder and master watchmaker of Urwerk. As one of the most sought-after examples from the Opus series, the Opus V is a world premier featuring three dimensional satellite hour display via three rotating cubes with retrograde minute scale, day and night indication. The present example in pink gold is numbered 34 of a limited edition of 45 pieces.


Created in 2002, De Bethune soon distinguished itself as one of the most forward-thinking brands in watchmaking, both from an aesthetic and a technical point of view. Distinguished with extravagance, the DB25SJ Starry Night is extraordinary and sparkles with elegance. Adorned with 44 diamonds and 44 blue sapphires, its moon phases spin on its own axis with exceptionally accurate precision that will diverge from astronomical reality by a mere one-day difference every 122 years. Travelling time and space with elegance, the present example in exceptional condition from the original owner and comes to auction for the first time.

Exceptional in beauty and complexity, the second generation of F.P. Journe’s Tourbillon Souverain is upsized to 40mm with a fresh 18K pink gold movement. The present platinum model is amongst the most remarkable of all, the rarefied black label that is exclusively made available to existing owners of Journe timepieces.

F.P. Journe’s Resonance has become one of contemporary horology’s most iconic pieces since its inception in 2000. It was the world’s first wristwatch to use the resonance phenomenon. The movement is composed of two independent balances, alternatively serving as an “exciter” and “resonator”. The present example of Chronomètre à Resonance is encased in a platinum case with an attractive “salmon” dial, making it a rare opportunity for established collectors to acquire a beautiful specimen of the revered Resonance.


Released in 2010, the Vagabondage II was F.P. Journe’s second timepiece featuring a tortue-shaped case, featuring jumping hours and minutes via rotating discs indicated through apertures that are perfectly aligned in the center of the dial along with its small seconds. The present example in platinum is numbered 40 of a limited edition of 69 pieces and is a rare and unorthodox timepiece.



The Hong Kong Watch Auction XII

Evening Session: 5 June 7pm, Day Session: 6 June 12pm

Location: JW Marriott, 88 Queensway, Admiralty, Hong Kong


Touring Previews




14-15 May

11am to 7pm

Singapore (RSVP ONLY)

Embassy & Consulate Room, The St. Regis, 29 Tanglin Road 

22-23 May

10am to 6pm


Raffles Shenzhen, T7, One Shenzhen Bay, 3008 Zhongxin Road, Nanshan District

22-23 May

11am to 6pm


B1 Art Gallery, Bellavita, No.28, Songren Rd., Xinyi District, Taipei, Taiwan

26 May

11am to 6pm


Fong-Yi Gallery, B1, No. 110, Sec. 1, Wuquan W. Rd., West Dist., Taichung, Taiwan

2-5 June

10am to 7pm 

Hong Kong

JW Marriott Hotel, 88 Queensway, Admiralty, Hong Kong


PRESS CONTACT:            

HONG KONG – Ingrid Hsu, Public Relations Director, Asia   +852 2318 2043



The team of specialists at Phillips Watches is dedicated to an uncompromised approach to quality, transparency, and client service, achieving a sale total of $133 million in 2020.


A selection of our recent record-breaking prices:


1. Paul Newman’s Rolex “Paul Newman” Daytona reference 6239 (CHF 17,709,894 / US$17,752,500) – New York Auction: Winning Icons – 26 October 2017 – Highest result ever achieved for any vintage wristwatch at auction.


2. Patek Philippe reference 1518 in stainless steel (CHF 11,020,000 / US$11,112,020) – Geneva Watch Auction: FOUR – 12 November 2016 – Highest result ever achieved for a vintage Patek Philippe wristwatch at auction.



Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of 20th Century and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London, Geneva, and Hong Kong, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world. In addition to providing selling and buying opportunities through auction, Phillips brokers private sales and offers assistance with appraisals, valuations, and other financial services.

Visit for further information.


*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.


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Ingrid Hsu

Phillips Hong Kong

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