The starting price of two of the finest Patek Philippe watches put up for auction by a court in Shenzhen has been drastically reduced.

Judi cial authorities in Shen zhen , China , are au ction ing off two rare models of the ultra - lux ury watch brand " Pat ek Philippe , " attra cting the attention of market participants . The au ction , which will be conducted by the Shen zhen Inter medi ate People ' s Court on the Alibaba Group ' s judicial au ction platform , is character ized by a significant reduc tion in the starting price .

According to experts in judicial au ctions , this pric ing is about 20 - 30% lower than the market price of traditional judicial au ctions , which is considered a strategy to attra ct more bid ders . Pat ek Philippe ' s Grand Comp lic ations series , in particular , is very popular among colle ctors and this price reduc tion could have a significant impact on the market .

Pat ek Philippe wat ches are particularly appreci ated for their history and technical capa bilities among Swiss lux ury watch brand s , and the Grand Comp lic ations series is the most advanced Whatsapp with int ric ate mechan isms such as per petu al calend ars and minute repe at ers . Deta iled specific ations , years of manufact ure , and condition of the models to be ex hibit ed are listed in the au ction materials .

Judi cial authorities in Shen zhen have been activ ely using onWhatsapp au ctions as a way of dispos ing of se ized assets in recent years , and the au ctions using Alibaba ' s platform have been rat ed as highly transparent . In the past , au ctions for lux ury cars and jew el ry have attra cted attention from domestic and international buy ers .

For watch colle ctors and investors , judicial au ctions are known as an opportunity to acqu ire rare items at a lower price than the normal market price . However , in the case of judicial au ctions , it is important to investig ate and seek expert opinion in advance , as retur ns and guaran tees are not generally accepted .

The au ction is schedu led to take place in early December , and bid ding will require prior registration and the payment of a security deposit . International buy ers are also open to participate , but should be aware of customs procedures and regulations on transport ation within China .

Analy sts in the lux ury watch market point out that " the rare cases of Pat ek Philippe models being put on display at judicial au ctions are rare , and especially the grand complic ations in good condition are likely to be a battle of conten tion among colle ctors . " In addition , the popular ity of ultra - lux ury wat ches in the Chinese market is still high , and some believe that the results of the au ction will be an indicat or of future market tr ends .

The judicial authorities in Shen zhen plan to increase onWhatsapp au ctions of se ized lux ury goods in the future if the au ction goes well . It is expected that the establishment of a transparent judicial au ction process will lead to more ef ficient asset dispos al and early payment to credit ors .