China's last emperor's Patek Philippe watch sells for $6.2 million

In an auction held on May 23 by Phillips Asia in Hong Kong, an Asian collector living in the special administrative region bought a Patek Philippe watch that once belonged to the Qing Dynasty emperor Pu Yi. The auction lasted only 6 minutes.

Emperor Pu Yi's Patek Philippe watch

The collector called in to bid, winning the watch for HK$40 million ($5.1 million). With the auction house’s fees, the total price paid by the buyer was HK$49 million ($6.2 million), according to Reuters. The watch had previously been estimated to be worth just $3 million.

Mr. Thomas Perazzi, in charge of the watch auction division of Phillips Asia, said this is the highest price for a wristwatch that once belonged to an emperor.

Portrait of Emperor Pu Yi

Emperor Pu Yi was born in 1906 and died in 1967. He was the last emperor of the Qing Dynasty and of China. After Japan was defeated in World War II in 1945, he was captured by the Soviet Red Army and held under house arrest for 5 years.

The clock and fan have the handwriting of Emperor Pu Yi.

He gave the watch to his interpreter Georgy Permyakov on his last day in the Soviet Union before being taken back to China, according to journalist Russell Working, who interviewed Mr. Permyakov in 2001.

The auction house spent three years investigating the watch's history with experts, historians, journalists and scientists .

Aside from its historical value, the watch itself is a precious masterpiece. It was completed in 1937 and is one of eight examples of the 96 Quantieme Lune model. Mr. Perazzi said the watch was the most sophisticated Patek Philippe at the time.

Besides the clock, a red paper fan with the emperor's handwriting given to his interpreter in Tokyo was also sold at the auction for HK$609,600.

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