The Geneva-based auction house Antiquorum plans to sell a brand new 2021 factory sealed Patek Philippe Nautilus 5711 later this month.
After discontinuing the bestselling blue-dial 5711/1A-010 Nautilus earlier this year, Patek Philippe announced the olive-dial 5711/1A-014 Nautilus as a final edition, available in limited quantities to only the most loyal clients of the brand.
Antiquorum has gotten ahold of a sealed version of this highly coveted limited-edition timepiece, which will be auctioned in Monaco on July 21, 2021. A record-breaking final bid is attainable, especially considering the 5711 is not even a regular watch anymore — it’s more of a status symbol of wealth — and something that perhaps most importantly shows how connected you are.
The factory plastic is supposed to be removed by an authorized Patek Philippe dealer prior to delivering the timepiece to the end consumer. Failure to remove the plastic can potentially result in the dealer losing their lucrative account with Patek Philippe. An authorized dealer clearly broke that rule here, but with Patek Philippe SA being the biggest beneficiary of a potentially very high bid being recorded publicly, it makes you wonder why they would attempt to interfere.
Patek Philippe’s discontinuation of the 5711/1A-010 Nautilus was first leaked on Instagram, and that’s a method that generates high visibility, with no work from the brand, and a popular distribution method nowadays, particularly for blue-chip brands with iconic pieces that always generate high interest. Similarly, allowing one of the most coveted references to go to auction, despite breaking the authorized dealer rules, seems like a move that was approved “unofficially” at the highest level.
Nevertheless, on Chrono24.com all current olive-green Nautiluses are currently marked as “Price on request” — except one that’s listed at $361K. That’s not to say that any 5711/1A-014 has sold for anywhere near that price, because it’s a listing, not an actual sale.
We’ll have to wait and see what Antiquorum can achieve at auction. With so much of the hype surrounding Patek Philippe coming from 5711 references — and the current state of the pre-owned market being so strong — reaching a value ten times the retail price of $34,893, or higher, is entirely plausible.
View lot 152 from Antiquorum’s Monaco July 21, 2021 auction.
Photos by Antiquorum.