A superb platinum example of Patek Philippe ref 5074 has sold as top lot in a Hong Kong watch auction held on January 26.
The watch, an amazingly complicated piece, sold for $574,791 to an Asian collector after intense bidding.
Reference 5074 is considered the successor to reference 3974, which is one of the Swiss brand's most popular models. The world record for an example of Patek Philippe ref 3974 is $1.2m, which was achieved when a platinum cased model sold in 2009 with the same auction house.
Both watches share the same mechanism, except for the gong, which in ref 5074 is a "cathedral" variety that travels twice around the watch to give a clearer, louder sound.
Ref 5074 was first seen in 2002, when it was offered only in yellow gold with the option of a silver or black dial. 2005 saw a pink gold version launched at that year's Baselworld watch fair, with the platinum variety following in 2009.
The watch at auction was manufactured in 2010 and was sold complete with its winding box, fitted box and certificate of origin.
Several of the top sales in the auction were seen by complicated wristwatches, such as the Jaeger-LeCoultre Gyrotourbillon 1, which achieved $250,030. A platinum example, the watch was made in a limited edition of 75 and includes a perpetual calendar, two retrograde dates, equation of time and leap year indication.
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