Antiquorum - Patek Philippe sold for $576,000 in New York
Watch collectors filled Antiquorum's auction room in New York City on June 10th for its sale of Important Collectors' Wristwatches, Pocket Watches & Clocks which achieved $ 4,511,268 resulting in a combined spring sales total of $ 9,511,656. Enthusiastically competing with the collectors present in the auction room were 420 registered internet bidders in addition to the many phone and commission bidders. Of the 364 lots offered in the sale, an impressive 83% were sold by lot and 114% were sold by value based on the low estimate. Bids came in from across the globe, including Italy, the Netherlands, China, Israel, the Russian Federation, Japan, and the United States.
"Despite tremendous volatility in the international stock markets, the demand for rare timepieces continues to maintain its strength. As confirmed by our June auction, collectors across the globe have confidence in the enduring value of high - end watches, which seem to be treated as a safe repository for money and a hedge against currency fluctuations,"said Evan Zimmermann, President and CEO of Antiquorum.
Offered at auction for the first time, the highlight of the sale was indisputably the Patek Philippe ref. 5104. The platinum minute-repeater with skeletonized dial sold for an outstanding $ 576,000 after heated competition between room, phone and internet bidders, ultimately selling to a private collector.
In addition, exceptional prices were achieved for the the yellow gold Patek Philippe ref. 1518 chronograph with perpetual calendar that sold for an astounding $282,000; as well as the yellow gold Patek Philippe ref. 3448 retailed by Howes which realized $103,200. Moreover, modern Patek Philippe wristwatches also continue to attract worldwide attention by collectors; the Patek Philippe ref. 5970 as well as the Patek Philippe ref. 3970 each achieved an outstanding $126,000. Also, the Patek Philippe ref. T150 , another complicated modern watch, brought a remarkable $54,000.
"Timepieces that have been handed down through several generations and fresh to the market watches continue to generate b interest among collectors worldwide as confirmed by the results for the Patek Philippe ref. 3448 and ref. 1518 in today's sale," said Julien Schaerer, Watch Director & Auctioneer, Antiquorum USA.
Richard Mille also did exceptionally well in the sale with the RM 002 in white gold selling for a fantastic $ 102,000 as well as the RM 006 in titanium achieving an outstanding $ 106,800.
Rolex achieved excellent results with the Rolex ref. 1680 Red Submariner retailed by Tiffany that attained an impressive $ 26,400 as well as the Rolex ref. 16660 Comex Sea Dweller which obtained a significant sum of $50,400. Furthermore, the Rolex ref. 6034 that previously belonged to legendary mechanic and race car driver Leroy Neumayer sold for a noteworthy $31,200.
The Heuer Monaco worn by Sammy Davis Jr. in Vietnam in 1972 stirred tremendous excitement in the auction room. After several minutes of highly competitive bidding, the unique and historically interesting timepiece sold for $ 21,600, over three times its high estimate.
"Watches from world renowned personalities continue to be in great demand by collectors, "said Charles Tearle, Director & Watch Expert, Antiquorum USA. "We were delighted by the result for Sammy Davis Jr.'s Heuer Monaco which sold for an incredible $ 21, 600 in today's sale."
Other brands also realized excellent results in the June auction; the Breguet Perpetual Calendar sold for $ 132,000 while the Vacheron Quai de L'ile attained $ 28,800. Finally, Omega achieved $ 22,800 for its Broad Arrow .
Antiquorum looks forward to our final auction of the season on June 26th in Hong Kong which will feature an exceptional selection of important modern Patek Philippe timepieces.
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