Whom You Know: Sotheby's Results: Important Watches & Clocks Bring $8.8 Million in New York

Wednesday, December 7, 2011

Sotheby's Results: Important Watches & Clocks Bring $8.8 Million in New York

Today’s auction of Important Watches & Clocks at Sotheby’s New York achieved $8,832,572, selling a strong 85.9% by lot and well within pre-sale expectations of $6.7/9.6 million. This marks the highest-ever total for an ‘Important Watches & Clocks’ auction at Sotheby’s New York.

“We are very pleased with today’s record result for New York,” commented John Reardon, Head of Sotheby’s Watches department in New York. “Our strategy as a team has been to focus on the client experience, both for our buyers and consignors, and the diverse offering we presented them resulted in a range of global interest that included top buyers from Asia to the United States, Europe and Africa.”

The sale was led jointly by two wristwatches from legendary watchmaker Patek Philippe that each achieved $482,500: An Exceptionally Rare and Historically Important 18K Yellow Gold World Time Wristwatch, 1937, Ref 96 HU “Heure Universelle” that is one of the earliest and rarest world time watches known to exist (pictured top, est. $400/600,000), andAn Exceptional and Fine Platinum Tonneau Automatic Minute Repeating Perpetual Calendar Wristwatch with Retrograde Date and Phases of the Moon, 2004, Ref 5013P that is one of the most complex wristwatches ever made by Patek Philippe, with a total of 515 parts (est. $450/650,000).

http://www.sothebys.com/en.html

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