Jay-Z, rapper, music producer, businessman and avid collector of works of art and other expensive items, is the first owner to present the newly released Tiffany Blue Patek Philippe Nautilus watch. The limited edition watch, which will only be offered to loyal customers of both brands, was launched just over a week ago and marks the latest Nautilus Ref. 5711 will be produced after Patek Philippe announced its withdrawal in January of this year. Considered the undisputed king of stainless steel sports watches, Ref. 5711 has been on the market since 2006.
In other words, as collectibles, this is one of the most coveted. Only 170 watches will be made, one for each year that Patek Philippe has collaborated with Tiffany & Co, all featuring the dial in Tiffany blue. The first item in the limited series, which has yet to begin shipping to selected customers, was sold at an auction last weekend, reaching a record-breaking $ 6.5 million. The Hodinkee trade publication notes that the identity of the buyer has not been made public except for a mention that he is a New York resident and a known collector.
In short, people believe that Jay-Z, one of the largest collectors of celebrity watches in the United States, bought the piece because it was the inaugural piece and as such had more value. If that’s true, that means this week’s outing, in which he was seen wearing a Nautilus Ref. 5711 is worth $ 6.5 million. But there’s also the (smaller) possibility that Jay was offered another example, out of courtesy to be the brand ambassador, along with his wife Beyonce, for Tiffany & Co.
The release was for commercial reasons, with Jay-Z showing up for a private screening of The Harder They Fall, of which he was the producer. He took part in a panel discussion with director Jeymes Samuel and, as shown in the Instagram photo below, also posed for photos, making sure everyone got a good look at the flashy blue watch on his face. wrist.
The photo was later posted on social media by Alex Todd, the celebrity jeweler who serves as the personal jeweler for Jay-Z, Kevin Hart and Rihanna, among other big spenders with a soft spot for collectible watches and jewelry in custom diamond. Todd is the same jeweler who a few years ago bought Hova the personalized Richard Mille blue sapphire which cost $ 2.5 million and required over 3,000 hours of customization, the unique Blueprint.
Back to Patek Philippe Nautilus Bleu Tiffany Ref. 5711, each of the remaining 169 copies will cost over $ 52,000. In a recent interview, Thierry Stern, president of Patek Philippe, emphasized that Tiffany would ultimately decide where each copy goes, which is sure to drive up prices when – or if – we emerge on the second-hand market. .