On Monday morning, an example of the highly coveted 5711 hit the auction block at Christie’s. It sold for just $3.2 million—a major increase from its $52,635 sticker price, but significantly less than another model achieved at auction last year.
The house’s Rare Watches Auction kicked off Monday at 8 a.m. EST with 129 lots, including the rare, limited edition Patek Philippe x Tiffany Nautilus. This Ref. 5711/1A-018 is only the second example to appear at auction since the limited-edition model dropped almost one year ago.
Produced in a limited run of just 170 pieces, the watch was, unsurprisingly, an instant sellout, with examples going to high-profile celebrities including Jay-Z and Leonardo DiCaprio and, presumably, to some very well-heeled and longtime collectors. The first example that came up for sale went on to fetch $5.35 million (with fees, a whopping $6,503,500) less than a week after its official debut.
The watch isn’t just special because of the partnership that produced it. It also marked the end of an era as the final iteration of the beloved 5711, which was discontinued in 2021 after a 15-year production run. And it commemorated the 170th anniversary of the partnership between legendary jeweler Tiffany & Co. and Patek Philippe. The result was a timepiece with Patek Philippe’s unmistakable DNA combined with one of the most iconic hues in luxury, Tiffany Blue, and the added bonus of dual signatures from both powerhouse brands on the dial.
The Tiffany 5711 retained everything we have come to know and love about the Nautilus: its stainless steel build, perfect proportions, porthole-shaped case, integrated bracelet and quintessential 1970s sports watch flare.
Color has been having a major moment in the watch world in the past several years but no hue has been as big of a hit as the instantly recognizable Tiffany Blue. Since 1998, the color has been registered as a color trademark by Tiffany & Co. and produced as a custom color by Pantone with the PMS number 1837, the year Tiffany was established.
And now, with two of the 170 pieces sold on the secondary market, it remains to be seen how much other models might achieve at auction—if and when their owners ever part with them.