Patek Philippe The Magpie’s Treasure Nest Clock sells for $2.3 million

Looks like you can put a price on time. The Magpie’s Treasure Nest Clock a creation by Patek Philippe was auctioned for HK$18.04 million ($2.3 million) the highest amount paid for a Patek Philippe piece at Sotheby’s auction in Hong Kong this weekend. An item whose sale price went way over the estimate of HK$3 -HK$5 million.

The 20.5-inch timepiece weighs almost 33.2 pounds says the description of the product in the Sotheby’s catalogue. The design depicts an complex scene of a magpie feeding a young bird. The bulk of the clock is carved out of calcite, onyx and agate among other materials. It is bejeweled with 24.95 carats of diamonds and 13.17 carats of rubies studded among the designs carved flowers. Speckled from the bird’s beak is a large oval tanzanite – a blue-colored gem stone — weighing 104.75 carats.

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This intricate designed clock is now a possession of an Asian buyer. The sale of this timepiece has helped Sotheby set a new record, with the fine watches sale on April 7 in Hong Kong raising HK$221.5 million ($28.5 million), as the highest to have been raised in sale of that category in its history.

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[Via – Bloomberg and Sothebys]