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Antiquorum’s Important Modern & Vintage Timepieces Auction Reaches Outstanding Result

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August 2012

Antiquorum’s auction of “Important Modern & Vintage Timepieces” held on August 25, 2012 at the Mandarin Oriental in Hong Kong, closed with the outstanding result of HKD $13,650,438. Of the 211 timepieces offered, several lots sold for four or five times their pre-sale estimate and overall, a remarkable 80.6% was sold, representing 131% by value.

A collection of rare tourbillons, selections from unusual modern brands and interesting Seiko clocks were among the items offered, driving intense interest and competitive bidding among collectors from around the world. The exceptional Jaeger LeCoultre Ref.233.64.20, “Reverso Gyrotourbillon 2” in Platinum (lot 211) was undoubtedly the highlight of the sale. The rare Jaeger LeCoultre inspired tremendous excitement in the auction room and on the telephone, and was sold to a European collector at the remarkable price of HKD $1,880,000 (including buyer’s premium).

“With our first auction held in August in Hong Kong, we are excited to see that collectors’ interest in exceptional timepieces continues to be strong even during the summer holidays,” said Evan Zimmermann, President and CEO, Antiquorum. “The auction featured an amazing selection of timepieces that drove outstanding results.”

Patek Philippe timepieces also sold remarkably well. Notably, the Patek Philippe Ref. 5100 10 days in 18K white gold (lot 203) brought an astounding HKD $487,500. In addition, a Patek Philippe 18K Yellow Gold Five Minute Repeater (lot 187), attracted great interest — after an intense session of fierce bidding, the watch sold for a staggering HKD $287,500 (including buyer’s premium), over four times its pre-sale estimate. A Patek Philippe 18K white gold ladies’ wristwatch with diamond set bezel and integral bracelet set (lot 136) also achieved a noteworthy result of HKD $150,000 (including buyer’s premium), more than five times its pre-sale estimate.

As Omega produced only a small number of central tourbillon watches, pre-sale excitement built quickly around the Omega "De Ville Central Tourbillon” (Lot49), which fetched an exceptional price of HKD $300,000.

Several other brands were well represented in the sale. Gerald Genta achieved an impressive result for its Skeleton Perpetual calendar, minute repeater with diamonds in 18K yellow gold (lot 75), which brought an astounding HKD $462,500.

“Watch enthusiasts view tourbillons and perpetual calendar as essential complications to have in a collection, and we were delighted to see such competitive bidding for these and other exceptional lots at auction,” said Jill Chen, General Manager, Antiquorum Hong Kong.

Antiquorum looks forward to its next auction on October 19th in Hong Kong, which will feature a fantastic collection of vintage and contemporary Patek Philippe wristwatches.

Source: Antiquorum