What's special about the 146 billion VND watch in Hong Kong?

A Patek Philippe watch was sold for a record price of 48.85 million Hong Kong dollars (146.4 billion VND) at an auction in Hong Kong (China) on May 23. This figure is nearly 5 times higher than the suggested price of 10 million HKD (nearly 30 billion VND).

This watch was once owned by Aisin Gioro Puyi, the last emperor of the Qing Dynasty.

The auction lasted just seven minutes at the West Kowloon Cultural District with the participation of local collectors and representatives.

Along with the watch, 11 other items that once belonged to Emperor Puyi were also put up for auction, including a paper fan and a notebook in which he wrote about life in China.

A Patek Philippe Reference 96 Quantieme Lune watch and a paper fan owned by Emperor Pu Yi were auctioned in Hong Kong on May 23. Photo: SCMP

According to Philipps Asia, the price of the watch is 40 million HKD (nearly 120 billion VND) and was offered by an anonymous collector residing in Hong Kong. Together with the commission fee, this person will have to spend 48.85 million HKD to own the watch.

It is the highest price ever paid for a wristwatch that once belonged to an emperor, said Thomas Perazzi, head of watches at Phillips Asia. It is also the finest Patek produced at the time, Mr. Perazzi added.

Pu Yi became emperor of China in 1908, at the age of two, and was forced to abdicate four years later. In 1945, he was imprisoned in Russia for five years. His life was the inspiration for the Oscar-winning film “The Last Emperor.”

He owns many watches, but most notably a platinum Patek Philippe Calatrava 96 Quantieme Lune inherited from his family.

Patek Philippe watches are highly valued by collectors. The world's most expensive Patek Philippe Grandmaster Chime was sold for $31.2 million in 2019.

A 1946 Patek Philippe that was also owned by Egyptian Prince Mohammed Tewfik was also sold for more than $9.5 million (VND223 billion) including fees, while the estimated price was only $1.2 million (VND28 billion).

Half of the watch face was broken because Emperor Pu Yi wanted to check the material inside. Photo: Hodinkee

According to Hodinkee, Emperor Puyi was bored and wanted to test whether the dial of this watch was made of precious metal. He had a servant scrape the dial. When it became clear that the dial was made of brass, he stopped. This is why the dial of this watch was partially damaged.

According to the memoirs of a nephew of Emperor Pu Yi, he wore the watch every day while in a Soviet prison, and then gave it to his nephew. However, when he received information that he would be returned to China, he took the watch back.

Emperor Puyi later gave the watch to his Russian interpreter Georgy Permyakov before he was extradited to China, and it remained in Permyakov's possession until his death and passing it to his heirs.

Emperor Puyi - the last emperor of China (center) and Mr. Permyakov (far right). Photo: Hodinkee

According to journalist Russell Working, who interviewed Mr. Permyakov in 2001, Mr. Permyakov may not have understood the value of this watch, because he only kept it in a drawer and not in a safe.

The watch first appeared on the market in 2019, before falling into the hands of Phillips. The auction house said it spent three years working with watch experts, historians, journalists and scientists to research the watch's history and verify its provenance .

Nguyen Tuyet (According to Hodinkee, Reuters, SCMP)

Source: https://www.nguoiduatin.vn/chiec-dong-ho-co-gia-146-ty-dong-o-hong-kong-co-gi-dac-biet-a609316.html