Panerai announced that four timepieces were sold at "The Hong Kong Watch Auction: XI" held by Phillips in Hong Kong on 30 November. Leading the sale was a superb Panerai Luminor Marina Militare with Small Seconds (Ref. 6152/1), which surpassed the pre-sale estimate of HK240,000-480,000 (equivalent to US$ 30,800-61,500) to reach HK1,638,000. This impressive result is attributed to the recognition of the historical prestige and impeccable provenance of this extremely rare Panerai Luminor Marina Militare timepiece, which represents an icon in the history of haute horlogerie of all time. "We are excited to see these unique pieces of prestige at auction, said Jean-Marc Pontroué, CEO of Panerai. 'Panerai has entered a new world with high-tech materials and innovation. However, what has not changed in the our DNA are our strong Italian roots and our history legendary. The four extremely rare timepieces, auctioned by Phillips in Hong Kong, represent different but equally important milestones of our history, fundamental for the development of the brand in the present'. The record for the sale of a vintage Panerai watch was set at a Sotheby's auction held in Geneva in 2014. A very rare 1955 Luminor in stainless steel was bought on that occasion by an enthusiast who bid a record 425,000 CHF (470,413 US$ today). The other three models sold in Hong Kong are a Radiomir with Ref. GPF2/56, with small seconds and a brown dial, sold for HK1,386,000 (HK1,386,000), and two Luminors also with Ref, 6152/1, with one of them fitted with a prototype Plexiglas bezel, sold for HK1,260,000 (HK1,260,000) and HK1,200 (HK1,907,200).
