It is the most valuable vintage Audemars Piguet watch ever sold at auction by Sotheby's.
The Audemars Piguet Royal Oak was once owned by watch designer Gerald Genta. The bezel is 18-carat yellow gold created and added by Genta himself. The watch sold for $2.1 million at Sotheby's in Geneva.
The watch was auctioned at the “Important Watches: Part I” exhibition in Geneva on 10 May. It sold for about $2.1 million at current exchange rates. This, according to Sotheby's, made it the most valuable vintage Audemars Piguet ever sold at auction.
Eight bidders bid for almost six minutes before a Swiss collector made the winning bid.
Audemars Piguet first launched the Royal Oak in 1972. It then revolutionized the industry as the first luxury sports watch made of steel.
The wristwatch has a date and an octagonal bezel with eight screws.
Genta designed Royal Oak overnight, drawing inspiration from a childhood memory. He had seen a man stamped on an old-fashioned diving suit near the Mont Blanc bridge in Geneva.
The Royal Oak watch from around 1978 that came up for auction was unique. Because not only was it the first time that a watch owned by Genta was auctioned, but also because it had the unique specifications. Namely, it had an 18-karat yellow gold bezel that Genta himself created and added in his Swiss workshop.
The sale was part of a series that brings to market 100 original watch designs; these came from Genta's personal archive, each of which is paired with an NFT.
The first auction of the “Icon of Time” series was held in Geneva in February, followed by the second auction in Hong Kong in April.
The May 10 auction, which featured Genta's Royal Oak, also included four rare oil paintings by the watch designer. These oil paintings achieved a total of $2.3 million.
This brings the current total of works from Genta's personal archive to $4.3 million, Sotheby's said.
In addition to Genta's personal Royal Oak, collectors still wanted to be part of the watch designer's history. So 55 models designed by Genta sold for a total of $10.7 million.
Leading this group was a Patek Phillipe Nautilus Ref. 5976 to celebrate the 40th anniversary of the model, which sold for approximately $627,400. Yet another stainless steel Patek Phillipe Nautilus Ref. 5711 with a rare olive green dial, which sold for about $526,800.
In Sotheby's well-known ongoing programme, Royal Oaks was also in high demand. Also one with Ref. 25554 in yellow gold with black dial from 1986 sold for about $376,500. Also one with Ref. 25636 with a platinum frame, which also sold for about $376,500.
