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A second Patek Philippe 5711/1A-014 has arrived at auction, but this time the seller has something other than a quick – not to mention substantial – profit in mind.
The brand new, unworn watch – its clasp still covered in protective factory plastic – is now live on Loupe This, the same new online watch auction platform from collector Eric Ku and dealer Justin Greunberg that is hosting the Pink Dial Project charity auction.
But this is not some quick flip from one of Patek Philippe’s preferred customers at peace with the idea of spending eternity on the brand’s blacklist, instead the watch is being auctioned off with all proceeds going to charity.
For those that have missed out on the hype surrounding the olive-dialed Ref. 5711/1A-014, it is considered the final edition of the famed stainless steel Nautilus 5711/1A, which was discontinued earlier this year after demand for the model pushed prices on the resale market into an uncontrollable ascent.
The 5711/1A-014 – with its limited 12-month production run – was meant to placate the thousands of waiting listed customers left without a blue-dialed 5711, but instead it made matters worse, becoming the hype watch of 2021 when one customer decided to put his still-sealed near-$35k new purchase up for auction and achieved $470,000 USD.
This latest watch to hit the market might not be sealed but, in the first 24 hours of bidding, it has already reached $307,000 USD over 11 bids.
When bidding closes on October 27 the hammer price will be donated to “charitable organizations working on relief efforts for the benefit of the Orang Asli people of Sarawak and Sabah in Malaysia” while the 10% buyer’s premium will be “divided between Girls Inc. of Alameda County, and Girls Inc. of Greater Los Angeles.”
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