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Jean Claude Biver PATEK PHILIPPE 1518 SELLS FOR RECORD $3.6 MILLION at Auction. WHY DID BIVER SELL?

Originally scheduled in mid-May and postponed due to nationwide restrictions on public events that lasted more than 11 weeks during which borders with Switzerland’s neighbouring countries remained closed, the Geneva Watch Auction XI was held at the Hotel La Reserve in Geneva with an exceptional set-up to ensure the safety of all clients present in the room.

Despite the current climate, the Geneva Watch Auction: XI catalogue attracted great interest from collectors all over the world, with bidders from more than 70 countries taking part in the sale, with the pace being set right from the start, with modern Rolex sports watches selling for more than double their mid-estimates.

With travel restrictions still in place in most parts of the world, online bidding dominated the weekend’s proceedings - as expected - but few could have foreseen that an unprecedented number of more than 2,000 online bidders, double that of May 2019.

The Geneva Watch Auction: XI achieved CHF 30 Million in total, breaking the record for the highest total achieved by such as sale and exceeding the previous record held by the Geneva Watch Auction: NINE by 20%.

Most notably, all 210 watches and clocks presented in the catalogue were sold, making this the first ever "White Glove" sale for a non-thematic various owner watch auction. The auction established a cascade of new world records, two now belonging to watches formely from the private collection of Mr Jean-Claude Biver.

The industry titan was selling the four watches that graced the auction catalogue's cover – a collection of exceptional vintage Patek Philippe watches – that together achieved a total of CHF 8,307,500.

The top lot of the sale, a pink-on-pink Patek Philippe Ref. 1518 (lot 38) one of the world’s most sought-after watches, captivated the saleroom and online bidders alike, igniting an intense bidding war of four minutes, eventually selling for CHF 3,380,000.

One of only twelve examples known, this extremely rare Patek Philippe perpetual calendar chronograph wristwatch with moonphases made in 1948, almost tripled its low estimate and established a new world record for a Ref. 1518 in precious metal.

The Patek Philippe Ref. 2499 (lot 155) also established a new world record for a second series Ref. 2499 in yellow gold, achieving CHF 2,600,000.The Patel Philippe Ref. 1579 in platinum - one of only three known in this case metal - achieved CHF 1,940,000. Finally, the Patek Philippe Ref. 96HU (lot 64) - the only known example in private hands - achieved CHF 387,500.

Also in the sale, but from another private collection, unique pink gold open face world time Patek Philippe pocket watch Ref. 605 HU with an incredibly vibrant cloisonné enamel dial depicting a map of Europe, Asia, and Africa sold for CHF 1,160,000, setting a new world record for the reference.

While most consignors choose to remain anonymous, another gentleman joined Jean-Claude Biver by revealing his identity and choosing to speak very publically about a pair of matching “Souscription” watches by F.P. Journe presented on the back cover of the auction’s catalogue.

The total tally for the sale was CHF 30,072,875 (approximately $31,595,486) for 215 lots, all of which sold, with seven resulting in prices over CHF 1 million each. The top lot was a rare Patek Philippe Ref. 1518, which came to auction from industry titan Jean Claude Biver‘s personal collection, selling for CHF 3,380,000 (approximately $3,549,158, over $1 million above its top estimate of CHF 2,400,000 or approximately $2,520,144). It is one of only 13 known Ref. 1518 models with a salmon dial, is in superb condition and has only been seen once before at auction in 2011, when it was sold by the original family who had purchased it from Patek Philippe’s Geneva boutique in 1950. But what makes this piece truly unique, and what likely sent it even further into the million-dollar stratosphere, is its blued steel hour and minute hands—a customized order from the client for better legibility. That’s watch collecting for you—the devil, that will ultimately drain your pockets, is always in the details.

According to Biver, who has been in the industry for more than four decades and has led many a brand to the top of the proverbial ladder, he is and always has been passionate about watches. The recently retired CEO of Hublot — who still holds a title at the LVMH Group says that will never change. “ I will never retire from my passion. I can retire from a position, love collecting watched

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