Loupe This is set to auction off the ultimate hypebeast Tiffany Blue Nautilus 5711 – here’s why that’s worth paying attention to
Zach BlassAs the poster child and textbook example of the ultimate hype watch, some of you may be rolling your eyes at the sight of the Patek Philippe x Tiffany & Co. Nautilus 5711/1A-018. It’s the Nautilus model that required the biggest VIP status and purchase history to be allocated one, limited to 170 pieces with a retail price over US$20,000 more than a standard 5711 due to its Tiffany blue dial. The watch is significant in that it was a celebration of Patek Philippe and Tiffany & Co.’s 170 years of partnership, and more importantly, the last 5711 to be made before its impending discontinuation.
The way these watches initially hit the market entailed 169 pieces being allocated by Tiffany & Co. through their boutiques in New York, Beverly Hills, and San Francisco where they sell Patek Philippe, with one piece reserved for auction through Phillips to raise money for charity. The retail price was set at US$52,635. The last 5711 ever, sold at Phillips, went for an astounding US$6,500,000 after buyer’s premium. In the weeks after, we saw mega-collectors and celebrities such as Jay-Z, LeBron James and Leonardo DiCaprio wearing Tiffany 5711s. It was, and in some ways remains, the ultimate status symbol.
We are now a few years in the wake of this ultimate hypebeast moment, and with such a massive premium to be had on the secondary market, more than a few of these 5711/1A-018s have hit the grey market. Toda,y you can still find listings from vendors such as Wrist Aficionado with the 5711/1A-018 set at US$1.5M to as much as US$3M. Now entering the chat, however, is Loupe This. As a younger auction house, the marketplace audience is perhaps not as vast as Sotheby’s, but those who are tuned in (tooting my own horn here, as I bought my Credor Eichi II from Loupe This), are real watch people.
I tend to find the most honest results happen on Loupe This. With no reserve and a lower buyer’s premium of 10%, the final results are not inflated as you might find elsewhere (keep in mind that the US$6.5M result at Phillips for the last 5711/1A-018 was actually US$5.35M before the buyer’s premium.)
This is why I will certainly be watching the action closely over the next week or so when the lot goes live late Friday morning EDT. We will get a much more accurate sense of what the infamous Tiffany 5711 is worth to bidders three years after the mania it caused. Where will it land? Well, the estimate will be set at US$1M – $1.5M. We often see auction houses list laughably low estimates, with results far exceeding them. This honest estimate is again indicative of how Loupe This, co-founded by Eric Ku and Justin Gruenberg, is a place that can be seen as an honest barometer of what a watch is worth to the market.
This is not to say watches always go for less than you would expect on the platform. After all, they notably demolished the previous record for a London Cartier Crash, raising the bar to over US$1.5M. If you are interested in keeping an eye on the progress of the auction or are interested in bidding (I envy you), head to the Loupe This page where the lot will be hosted once live.
IWC in NYC
In some local news (at least for me), the new IWC flagship boutique in New York City has just opened its doors. “After 12 years in our first Madison Avenue Boutique, we are pleased to move to our new home at 645 Madison Avenue, at the corner of 60th and Madison. This new concept truly represents the DNA of IWC, which reflects modernity while putting craftsmanship and engineering at the centre of everything we do,” says Stanislas Rambaud, IWC Brand President USA. “We cannot wait to welcome our customers, watch enthusiasts, and the watch curious to talk and learn about our watches and long-standing heritage.”
The space is open and inviting, with various stations to explore the wide range of IWC creations, spanning over 2,300 square feet. A new and exciting development, however, is that for the first time ever in an IWC boutique, there is a transparent watchmaker atelier and product test lab display at the very front. Furthermore, using what IWC has dubbed the Cyberloupe, visitors and clients can get a closer look at the components of a watch on a large display screen to get a much closer look at the individual watch components.
Within the product testing lab, stations exhibit the various tests watches endure at the manufacture. This includes a bath test for corrosion and water resistance, a strap torsion test that tests durability, and a third station that exhibits the endurance test for chronographs.
Hope you all have a wonderful weekend!
Zach and the Time+Tide Team
Watch meme of the week: hot new band
View this post on Instagram
If you try to do your best Mike Tyson impression while saying the word “kiss” you will laugh that much harder at this meme. Read more about this controversial “Kith Heuer” collab here.
Wrist shot of the week: a baby Royal Oak
View this post on Instagram
In breaking pop culture news, Justin and Hailey Bieber announced they are expecting a child earlier today. In the announcement photoshoot shared on Justin’s Instagram, Hailey can be seen marking the moment with a small, yellow gold Audemars Piguet Royal Oak with a diamond-set bezel. Diamonds are forever, and so are children.
Time+Tide Shop pick of the week: Mido Ocean Star 200C Carbon
Mido has brought carbon composite to the case and dial of the sporty Ocean Star 200C. The bezel is made of scratch-resistant ceramic and graduated accordingly to suit a 200-metre water-resistant diver. To top it all off, it’s powered by an ETA-based, chronometer-certified movement with an 80-hour power reserve. Keep an eye out on the T+T website for a full breakdown in the coming days.
Our favourite Time+Tide coverage of the week
The Jaeger-LeCoultre Reverso Stories exhibition is finally coming Down Under with a pop-up in Sydney
View this post on Instagram
If you’re a fan of JLC and you live in Australia, then we’ve got some good news for you: the Reverso Stories exhibition is finally making its way Down Under, popping up in Sydney’s Martin Place from the 10th to the 19th of May. Head to Jamie’s article to learn more, or book in your slot here.
Can the Parmigiani Fleurier Toric Petite Seconde challenge the Rolex 1908 at nearly double its price?
A dress watch from a sports watch brand takes on a high-end, revitalised artisan: it’s Rolex versus Parmigiani Fleurier. Buffy pits two novelties from Watches and Wonders 2024 head-to-head: the Rolex 1908 in platinum and the new Parmigiani Fleurier Toric Petite Seconde in platinum. Head here for the duel and verdict.
The Time+Tide Mother’s Day gift guide
And finally, just in time for Mother’s Day, we handpicked some of the best watches deserving to grace your mum’s wrist. From a $50 Casio for all the frugal mums, to a stunning Serpenti for those really hell-bent on expressing their gratitude, check out the full line-up here.