Published: April 23, 2002
GENEVA, SWITZERLAND – A Patek Philippe platinum “World Time” wristwatch set the new all time record price for any wrist watch when it sold April 13 for $4,026,524.
Antiquorum’s April 13-14, 600-lot auction realized a total of $23,325,518, more than double the presale estimate. The sale total is Antiquorum’s best watch auction ever and the second best international watch auction total to date. This auction collection was 333 percent sold by value and 83 percent sold by lot.
“To say we are delighted is an understatement,” said Osvaldo Patrizzi, Antiquorum’s chairman, who added, “These are magnificent results. I don’t think I could ever have imagined back in 1979, when I started wristwatch sales at Antiquorum, that one day I would have the honor and pleasure of auctioning a wristwatch for 6.6 million Swiss Francs.”
The horological tools, workbenches, books and documents also fetched astounding prices, well above their estimates, and totaled $1,331,847. Practically all were purchased by the same Middle Eastern collector. Among these is an example that brought $149,695, setting a world record for any horological letter or document.
Altogether, 13 world records were set. Besides top lot already mentioned, 12 others were all purchased by the same Asian collector.
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