Sotheby’s evening sale of important watches

Geneva, may 10, 2009 – This evening’s sale of Important Watches in Geneva brought a total of CHF 3 749 988 ($3 077 240). The top selling lot was a Patek Philippe platinum split seconds chronograph, Ref. 5959P, which sold for CHF 362 500 ($297 468). The sale was 74.8% sold by lot and 73.7 % by value.

Geoffroy Ader, Head of Watches, Sotheby’s Geneva, said: “The thirty antique watches included in the sale performed very well this evening with only three lots failing to find a buyer. Highlighting this section was a very rare and historically important gold enamel and diamond presentation watch with matching chain and fob seal, most probably made for King Ludwig II of Bavaria, dated circa 1880, which sold for CHF242 500 ($198 996), almost five times its pre-sale high estimate of CHF 50,000. This watch was not only of great provenance but also fresh to the market, demonstrating that such timepieces remain much sought after by watch collectors”.

Alexander Barter, Deputy Worldwide Head of Watches, Sotheby’s International, commenting on the sale, said: “In a very selective market, the excellent response to our sale which comprised a well-curated selection of fine and exceptional timepieces dating from the 16th century to the present, demonstrates that rare pieces in excellent condition are still very much in demand. If antique watches achieved strong prices this evening, vintage and modern wristwatches also performed well tonight. For example, a Patek Philippe split seconds chronograph wristwatch, Ref. 5959P, circa 2007, sold for CHF 362 500 ($297 468) and a Patek Philippe perpetual calendar chronograph wristwatch, ref. 3971J, circa 1987, achieved CHF 160 900 ($132 035) ”

The top selling piece in this evening’s sale was an exceptional and fine platinum split seconds chronograph wristwatch by Patek Philippe, Ref. 5959P, circa 2007, which sold for CHF 362 500 ($297 468).

Other examples of wristwatches by Patek Philippe which performed well included an extremely rare yellow gold, perpetual calendar, chronograph wristwatch, Ref. 3971J, 1987, with a gilt dial, only the second such example to have appeared at public auction, which sold for CHF 160 900 ($132 035) and a rare oversized chronograph wristwatch in white gold, circa 2004, Ref. 5070G, which fetched CHF 62 500 ($51 288).

An exceptional and rare gold, rock crystal, onyx, enamel and diamond set mystery clock, Cartier, circa 1919, one of Cartier’s most enduring creations, first appeared in 1913, achieved CHF 314 500 ($258 079 ) tonight, against a pre-sale estimate of CHF 220 000-280 000.

In the antique watch section, a timepiece which sold extremely well this evening was a very rare and historically important gold enamel and diamond presentations watch with matching chain and fob seal from the property of a princely family. Most probably made for King Ludwig II of Bavaria, in circa 1880, this watch sold for CHF 242 500 ($198 996), almost five times its pre-sale estimate of CHF30 000-50 000.

Further lots in this section which exceeded expectations were a very rare and small gilt brass drum clock, dating to the first half of the 16th Century, probably Blois school, from the Collection of Jaime Ortiz-PatiУo, which achieved CHF 158 500 ($130 065) against a pre-sale estimate of CHF 30 000-50 000; a fine gold and enamel pre-hair spring verge watch with decorative bezel enamelled en ronde bosse by Isaac Gravelle, circa 1660, from the property of a distinguished European collector, which sold for CHF 122 500 ($100 524) against its pre-sale estimate of CHF 30 000-50 000; and a rare gold enamel pre-hair spring hunting cased verge watch by David de la Fontaine, circa 1660, which brought CHF 98 500 ($80 829), more than six times its pre-sale high estimate.

Among the pocket watches offered for sale was a fine and heavy pink gold hunter cased minute repeating perpetual calendar chronograph keyless lever watch with moon phases and register, No 80076, made by Patek Philippe in 1887, which sold for CHF 146 500 ($120 218).

Among the Rolex vintage wristwatches which achieved good prices this evening was a stainless steel chronograph wristwatch Cosmograph Rolex Daytona “Paul Newman” with registers, circa, 1968, which sold for CHF 62 500 ($51 288).

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Published in: on May 12, 2009 at 7:45 am  Leave a Comment  
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