Published: April 5, 2011
Antiquorum conducted a highly spirited and extremely successful auction of modern and vintage timepieces on March 10, totaling $4,460,162. The auction of 275 rare and collectible timepieces drew a standing-room-only crowd, in addition to 301 registered Internet bidders and phone bidders from around the world. Aggressive international bidding came from countries such as China, the Russian Federation, Qatar and Canada, as well as from across the United States. Strong prices were achieved, resulting in 81 percent sold by lot and 125 percent sold by value.
The competitive bidding for the exceptional Patek Philippe Ref 2419 was undoubtedly the highlight of the sale. The rare Patek Philippe inspired tremendous excitement in the salesroom and on the Internet. Ultimately, the unique minute-repeating wristwatch retailed by Cartier sold for an astounding $710,500 to a Chinese bidder.
“We are thrilled by the sale’s outcome,” said Evan Zimmermann, the firm’s president and chief executive officer. “The spectacular results for the exceptional minute-repeating Patek Philippe Ref 2419 wristwatch retailed by Cartier confirms that collectors today are willing to pay a premium for watches that are unique and new to the market.”
Furthermore, several other Patek Philippe timepieces achieved exceptional results, confirming that complicated Patek Philippe watches continue to dominate the top lots at auction. The Celestial Ref 5102 sold for a notable $218,500, while the Patek Philippe Ref 3450 in 18K yellow gold with Roman leap year display and the Patek Philippe Ref 3448 in yellow gold with perpetual calendar each achieved $158,500.
In addition, Audemars Piguet continues to attain strong results for the rare examples, with the stainless steel Minute Repeater No. 1 fetching $62,500 and the 18K rose gold rectangular jump hour Minute Repeater No. 8, especially sought after by Asian bidders, which sold for $48,750.
Further highlighting that complications continue to be the focus among collectors, Jaeger-LeCoultre attained excellent results for its examples †the Jaeger-LeCoultre Reverso Gyrotourbillon 2 sold for an impressive $266,500, and the Jaeger-LeCoultre Master Minute Repeater in pink gold achieved $86,500.
Finally, Rolex confirmed its resurgence with strong bidding across all price levels and highlighted by the Paul Newman Ref 6241, which achieved $73,300, and the Rolex Ref 6238, which sold for $40,000.
Prices reported include the buyer’s premium. For information, www.antiquorum.com or 212-750-1103.
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