Rare Patek Phillipe does very well at auction

A rare Patek Philippe timepiece proved to be the star lot at a recent auction.

Various Patek Phillipe's were for sale in the auction, but one in particular fetched a strong price.

The platinum watch, which was manufactured in 1994, features a perpetual calendar minute repeating movement and a moonphase display and is encrusted with 39 jewels.

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Fewer than five units of the design, which was originally created to celebrate the 150th anniversary of the famous watchmaker, have appeared on the market to date, auctioneer Christie's confirmed.

The sale of this model took place at the company's Rare and Important Watches sale in Hong Kong, where it achieved a price of HK$5,540,000 (£455,365).

Commenting on the lot, Christie's said: "This sought after reference ceased production in 2002 and it is regarded as one of the most desirable minute repeaters of modern production."

Other Patek Phillipe's also performed well in the sale, with four of the five most expensive sales coming from the manufacturer.