In brief
- A 1951 pink gold Patek Philippe Ref. 2499 sold for HK$80,370,000 (US$10,255,212) on 31 May 2026.
- It is the most valuable watch ever sold at auction in Asia and a record for the reference.
- Patek Philippe made about 349 Ref. 2499s between 1951 and 1985.
- The sold watch is one of four known pink gold First Series examples with a Vichet case.
- The price was about 67% above the HK$48 million top estimate.
A Patek Philippe Ref. 2499 became the most valuable watch ever sold in Asia on 31 May 2026, when Phillips sold a 1951 pink gold First Series example in Hong Kong for HK$80,370,000 (US$10,255,212). The result is also a world auction record for the reference and the first time any watch has passed $10 million at auction in Asia.
The record sale at a glance
| Detail | Figure |
|---|---|
| Watch | Patek Philippe Ref. 2499 “The Pink First Series” |
| Year made | 1951 |
| Case | 18k pink gold, made by Vichet |
| Auction | Phillips, The Hong Kong Watch Auction: XXII, 30-31 May 2026 |
| Estimate | HK$24-48 million |
| Price (incl. premium) | HK$80,370,000 / US$10,255,212 |
What the Ref. 2499 is
The 2499 is a perpetual calendar chronograph: it shows the day, date, month and moon phase, adjusts automatically for months of different lengths and leap years, and has a stopwatch function. Patek Philippe made it from 1951 to 1985, producing about 349 examples over 34 years.
It replaced the Ref. 1518, introduced in 1941, and was Patek Philippe’s second generation of perpetual calendar chronographs. The case measures 37.5mm, which was large at a time when most men’s watches were 32-35mm. Inside is a manual-wind 13”’ calibre.
Also readLuxury Gifts for Men 2026: 12 Premium Picks Worth BuyingThe four series
Collectors divide the 2499 into four series, based mainly on the pushers, numerals and dial scale.
- First Series: square chronograph pushers, applied Arabic numerals and a tachymeter scale.
- Second Series: the first with round pushers, with Arabic or baton numerals and a tachymeter scale.
- Third Series: round pushers and baton numerals, with the tachymeter replaced by an outer seconds track.
- Fourth Series: as the third, but with a sapphire crystal, known as the Ref. 2499/100.
Early cases were made by Vichet, with long lugs and a flat case back. Later production moved to Wenger, with a domed back and more compact lugs.
Why this watch set a record
Phillips says the watch is one of only four known First Series 2499s in pink gold with the Vichet case, and the only one with British hallmarks. First Series watches are the earliest and scarcest, and pink gold examples are rarer still.
That combination explains why bidding went well past the top estimate of HK$48 million. The final price was about 67% above it.
How it compares with other 2026 results
The Hong Kong sale was part of a strong spring season for Phillips, run with Bacs & Russo. Its three highest results across Geneva, Hong Kong and New York were:
- F.P.Journe Chronomètre à Résonance “Souscription No. 007”: $13,922,000 (New York, June)
- Patek Philippe Ref. 2499 “The Pink First Series”: $10,255,212 (Hong Kong, May)
- Patek Philippe Ref. 2523 “Polychrome Two-crown World-time”: CHF 7,961,000, about $10,245,807 (Geneva, May)
The 2499 edged out the Ref. 2523 by less than $10,000 in US dollar terms. Our ranking of the most expensive watches in the world shows where these results sit against all-time records, and our guide to the most expensive Rolex watches covers the other brand that dominates the top of the market.
What comes next
The autumn Geneva sales take place in early November. Phillips’ Geneva Watch Auction: XXIV, on 7-8 November 2026, is led by a 1945 steel Patek Philippe Ref. 1436 split-seconds chronograph estimated at CHF 2-4 million. Results there will show whether demand for rare vintage Patek Philippe has held up since the spring records.
Sources: Phillips, The Hour Markers
Frequently asked questions
How much did the Patek Philippe 2499 sell for?
The 1951 pink gold First Series example sold for HK$80,370,000 (US$10,255,212) including premium at Phillips Hong Kong on 31 May 2026.
How many Patek Philippe 2499 watches were made?
About 349 were made between 1951 and 1985, across four series.
What is the difference between the 2499 series?
The First Series has square pushers, Arabic numerals and a tachymeter. Later series moved to round pushers and baton numerals, dropped the tachymeter, and the Fourth Series (2499/100) added a sapphire crystal.
What is the most expensive watch sold in Asia?
The Patek Philippe Ref. 2499 "The Pink First Series", sold by Phillips in Hong Kong in May 2026 for US$10,255,212. It was the first watch to pass $10 million at auction in Asia.
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