Sotheby’s 2012 Watch Sales Total $30.3 Million in Europe

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November 2012

The sale was distinguished by a group of vintage wristwatches by Patek Philippe which achieved some of today’s strongest prices. An exceptional example of Patek Philippe’s Reference 2524/1 retailed by Tiffany & Co was sought by several collectors and finally won by a telephone bidder for CHF 542,500 ($571,328), more than doubling pre-sale expectations (lot 158, est. CHF 250,000-350,000/ $267,000-374,000). Most certainly the only known piece with a dial bearing “Tiffany & Co”, this specially ordered 18 carat yellow gold wristwatch features a movement made in 1954 and cased in 1961.

A very rare Reference 2438-1 (lot 156), the first water-resistant type perpetual calendar wristwatch produced in series by any company achieved CHF 278,500 ($293,299), surpassing the pre-sale estimate of CHF 200,000-300,000 ($214,000-321,000). Made in 1958, this fine centre second 18 carat yellow gold wristwatch with moon phases was retailed by Tiffany & Co.

Other highlights in this section included a fine Patek Philippe Reference 530 in 18 carat yellow gold dating from circa 1940 (lot 256) which made nearly three times its pre-sale estimate and sold for CHF278,500 ($293,299) (est. CHF 100,000-150,000/ $107,000-161,000) and a Reference 3448 in white gold made in 1977 (lot 257) which achieved CHF 242,500 ($255,386), against a pre-sale estimate of CHF180,000-250,000 ($193,000-267,000).

Probably one of the most appealing examples of Reference 3450 coming to the market in recent years, a very fine yellow gold automatic perpetual calendar wristwatch dating from circa 1985 (lot 157) in virtually unworn condition realised CHF182,500 ($192,198), just above its high estimate of CHF 120,000-180,000 ($129,000-193,000).

One of the oldest manufacturers of fine watches, Vacheron Constantin was represented in the sale by important vintage wristwatches. Minute repeaters are considered the pinnacle of the production of complicated wristwatches by Vacheron Constantin and the sale included the first model of the celebrated Reference 4261 ever produced by the Geneva firm. Manufactured in 1943, this very rare 18 carat pink gold minute-repeating wristwatch (lot 248) was bought for CHF 242,500 ($255,386), far beyond pre-sale expectations (est. CHF 130,000-150,000/ $139,000-161,000).

To read Sotheby’s full report, click HERE

And to view the sale’s results, click HERE

Source: Sotheby’s