WhatsApp
Email
Facebook
Twitter
LinkedIn
Christie’s achieved its highest-ever total for a timepiece auction at its recent sale in Geneva.
The May 12 Rare Watches auction raked in CHF 33 million ($42 million), with 99% of lots selling and 60% fetching above their upper prices, Christie’s said Tuesday.
The F.P. Journe Tourbillon Souverain watch from 2000 that led the auction more than doubled its estimate. It sold for CHF 2.4 million ($3.1 million) against a CHF 1 million ($1.3 million) high price at the May 12 sale.
Another notable wristwatch was an Audemars Piguet from around 1930, one of the first three chronograph watches the brand ever made. It smashed its CHF 400,000 ($511,248) upper estimate to bring in CHF 2.1 million ($2.7 million). An asymmetric, 18-karat gold Cartier 1990 London Crash timepiece soared past its CHF 1 million ($1.3 million) high price and realized CHF 1.6 million ($2 million).
Meanwhile, a Patek Philippe watch made to celebrate its 170th anniversary of collaboration with Tiffany & Co. went under the hammer for CHF 1.3 million ($1.6 million), garnering within its presale estimates. An additional Patek Philippe timepiece, featuring moon phases, 24-hour, and leap-year indication, fetched CHF 1 million ($1.3 million), just edging out its high price.
“For the first time, Christie’s Geneva presented its Rare Watches sale over two consecutive days, highlighting the strong confidence consignors continue to place in our global watches team,” saidRemi Guillemin, head of watches for the company’s Europe and Americas regions. “Throughout the sale, collectors demonstrated exceptional enthusiasm, reaffirming the global demand for extraordinary timepieces and the enduring strength of the watch market.”
Some 44% of bidders at the sale came from Europe, the Middle East and Africa (EMEA), 28% from the US and 19% from Asia Pacific, with 30% of bidders and buyers new to Christie’s.
Image: The F.P. Journe Tourbillon Souverain watch that led the auction. (Christie’s)
