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Christie's NY "Important Watches Auction" Nets $8.5 Million

Christie's NY "Important Watches Auction" Nets $8.5 Million

Mr. Escribano said that the auction‘s sell-through rates, a 98 percent by lot and a 99 percent by value, are the highest ever achieved for a watches auction at Christie’s. “Today’s sale was a fitting finale to a truly spectacular spring watch auction season in which Christie’s has consistently led the market on a global level,” said Escribano. “With our fall sales already on the horizon, we are firmly on track to achieve yet another record-breaking year for watch sales.”

Four lots filled out the top three slots for highest price items. A Patek Philippe Reference 2499 (1980), which is an 18k Gold Perpetual Calendar chronograph wristwatch with moon phases, sold at $362,500 for the second highest price lot of the auction. A Patek Philippe Reference 3974 (1991), which is an 18k Gold Automatic Minute Repeating Perpetual Calendar wristwatch with moon phases tapped out at $$338,500. A Piaget Reference 40’011 tied for third, selling at the same price. Nine of the 10 top-priced lots sold at the auction were Patek Philippe wristwatches.

For more information visit Christies.com.

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