Christie’s Important Watches Auction Garners $17.1M

A Patek Philippe watch led the recent Christie’s auction in New Work, where it fetched $2.8 million.

The 18-karat white gold timepiece features an automatic perpetual calendar, red dot leap year indication and moon phases. The piece, from 1981, soared past its $1.6 million high estimate at the June 12 Important Watches sale, Christie’s said last week.

Other highlights included a 1928 Audemars Piguet wristwatch with a large rectangular-shaped jumping-hour display in 18-karat white gold. The piece made more than 20 times its $50,000 high estimate, achieving $1 million. Meanwhile, a Richard Mille sporty red quartz dual-time tourbillon watch realized $762,000, within its estimated range.

The auction house also sold a limited edition Patek Philippe 18-karat pink gold wristwatch featuring a split-second monopusher chronograph. It went under the hammer for $571,500, just beating its high estimate. Another Patek Philippe timepiece, bearing 893 diamonds totaling 4.47 carats and 182 baguette diamonds weighing 15.46 carats, also sold for $571,500, a little over its low price.

In total, the sale garnered $17.1 million, finding buyers for 99% of its 140 lots. Wristwatches from well-known designers such as Rolex, Cartier and Audemars Piguet also went on the auction block.

Image: The Patek Philippe watch that led the auction. (Christie’s)