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Patek Philippe watches 'in mobile phone auction'

The way people bid on Patek Philippe watches at auction could change thanks to new mobile technology that is being introduced.

Collectors are now able to participate in a 'Silent Sale', which is when they state how much they want to pay for Rolex watches using their mobile phone.

After they have registered and viewed the items, they can start making an offer, Paul Fraser Collectibles reports.

When the sale begins, people are informed by text message if their bid is beaten and they have the opportunity to put in another.

The event is being held by Patrizzi & Co of Milan until July 16th and is likely to last several days.

When the lot has been won, all participants are informed via SMS.

It was recently reported that a rare Audemars Piguet chronograph bracelet watch is to go under the hammer in Monte Carlo later this month. It is estimated to fetch between 70,000 (57,832) and 120,000.

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