Happiness takes no account of time

Patek Philippe clock. 1865. Silver, enamel. Sold for CHF 1,196,000. Important Watches and Wristwatches. Sotheby’s, Geneva. November 14

Auction house Sotheby’s held sales titled «Important Watches and Wristwatches» in Geneva on November 14. The auction totaled impressive CHF 10,631,401 ($8,553,387) with 262 of 331 lots sold. More than a half of auctioned lots are modern timepieces created through 1980s–2000s.
However, the auction included true rarities as well. The top-lot of «Important Watches and Wristwatches» was 1865 Patek Philippe clock in silver casing decorated with coloured enamel.
Estimated at CHF 330,000–550,000 the rare and unique piece fetched CHF 1,196,000 two times exceeding the upper estimate.

Patek Philippe wristwatch. 1952. Gold. Sold for CHF 2,204,000. Important Watches and Wristwatches. Sotheby’s, Geneva. November 14

The pre-sale estimates of the majority of lots ranged within CHF 5,000–15,000. However, some of the lots made much more. For instance, 1947 Rolex watch in the gold and enamel case was purchased within the estimate (CHF 100,000–150,000) for CHF 116,400. The unique 1927 Patek Philippe in the gold case brought CHF 916,000 (estimate CHF 800,000–1,500,000).

There is no wonder that Patek Philippe watches were the most popular pieces at the auction. The second top-lot of the sale was 1952 Patek Philippe REF.2499. The gold three-face chronometer had been expected to fetch from CHF 650,000 to CHF 850,000. After the fierce bidding, the exceptional watch was sold for CHF 2,204,000 thus setting the new record for Sotheby’s.

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Published in: on December 6, 2006 at 3:40 am  Leave a Comment  
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