With the Geneva auctions just having concluded, the spring sale season now moves to Hong Kong. The biggest event during the week is undoubtedly The Imperial Patek Philippe Sale, an evening auction that will take place at Phillips on May 23.
The auction gets its name from the Patek Philippe Calatrava ref. 96QL in platinum once owned by Aisin-Gioro Puyi, the last Emperor of China. Known to the market for several years but publicly offered for sale for the first time, the watch might emerge as the year’s most valuable watch sold at auction, or it might not. But regardless of the value, the last Emperor’s Patek Philippe is a exceptionally interesting watch, both intrinsically and in terms of provenance.
The provenance
The story of the watch is told in this documentary produced by Phillips. Amongst the interviewees featured in the film is Russell Working, an American journalist who once profiled the Russian translator, Georgy Permyakov, who received the watch from Puyi while the former Emperor was a prisoner in the Soviet Union. Another is Wang Wenfeng, formerly a researcher at the Palace Museum of the Manchurian Regime in China, who explains Puyi’s life and times.
The documentary tells the story of Permyakov’s relationship with Puyi and how he came to possess the watch. Notably, the film also explains how the dial ended up in this peculiar state – the captive Emperor tasked Li Guoxiong, Puyi’s valet of over three decades, to see if the dial was made of platinum like the case.
The watch
Made in 1929 and sold in 1937 – the long wait to sell the watch was probably due to the Great Depression – the ref. 96QL was one of a handful of complicated ref. 96s made during the period.
It’s one of three identical examples known, all in platinum with the same dial and consecutive movement numbers. One is in the Patek Philippe Museum (which acquired it in 2003 at Sotheby’s for just over CHF2.0 million), and the other sold in 1996 at Antiquorum to a private collector.
Because of its rarity and significance for Patek Philippe, a ref. 96QL is a valuable watch even forgoing the imperial provenance. An ordinary example would be worth some US$3.0 million, which is the low estimate for the watch in the upcoming auction.
![](https://watchesbysjx.com/wp-content/uploads/2023/05/patek-philippe-last-emperor-china-puyi-guillermin.jpg)
According to Phillips, Puyi’s ref. 96QL was originally sold by Guillermin, a French retailer that produced this advertisement in 1937, depicting the watch. Image – Phillips
This ref. 96QL, however, is perhaps the one in the most original condition and immediately distinctive due to the dial. Granted the dial is damaged – heavily in fact – but considering the damage was intentional, it actually adds to the charm of the watch.
Puyi’s valet, nicknamed “Big Li” did a good job in scraping off the plating – he evidently started scraping with the top edge of the calendar windows as a guide. If nothing else, the damage is well proportioned.
Examining the dial up close reveals the scrape marks. The striations on the dial indicate Big Li used a tool with a sharp, flat end to accomplish his task, perhaps a screwdriver.
The rest of the ref. 96QL is notably well preserved, a surprise considering the appearance of the dial. While evidently worn, the platinum case appears to have its original edges. The bezel in particular retains its sharp top edge, a detail that is easily lost with refinishing.
In fact, I have examined one other complicated Calatrava ref. 96 made in the same period as the ref. 96QL, but entirely restored with a refinished case. The difference in the case quality between the two is easily obvious.
![](https://watchesbysjx.com/wp-content/uploads/2023/05/patek-philippe-last-emperor-china-puyi-calatrava-96QL-6.jpg)
The French hallmark on the lower right lug is perfectly clear
Going under the hammer on May 23 at 7:00 pm Hong Kong time (GMT+8), the Calatrava ref. 96QL has an estimate in excess of HK$25 million (or US$3.0 million). For more, visit Phillips.com.