World Auction Record at Christie's Geneva Spring Sale of Important Watches
The Important watches including Property from an Important European Collection sale occurring on 12 May 2014 achieved with a world auction record for any Rolex sold at auction.
The total result of SFr.23,823,225 / US$26,508,102 / €19,270,606, selling 91% by lot and 95% by value. The top lot of the sale was a Patek Philippe in platinum with Breguet numerals made for Henry Graves Jr. and manufactured by Patek Philippe in 1927, which sold for a new world auction record for this unique Patek Philippe wristwatch at SFr.1,205,000 / US$1,340,804 / €974,725.
Throughout the 8 hours sale, further record prices were also established for multiple references and models across different categories. Moreover, the two private collections realized strong results. The Important European collection achieved SFr.3,321,375 / US$3,695,693 / €2,686,660 and the Khanjar collection totaled SFr.3,846,000 / US$4,279,444 / €3,111,029.
John Reardon and Sam Hines, International Co-Heads of the Watch department commented: “The very strong results obtained for Geneva’s Important Watches sale confirmed once again the leadership of Christie’s in the category of Watches at auction, realising an increase of nearly 10% compared to last spring’s sale held on 13th May 2013. The 435 pieces offered in today’s auction attracted bidders from 30 different countries, present in the room, on the phone or on the net via Christie's LIVE™ which saw a very strong registration.
Exceptional wristwatches, especially those manufactured by Rolex and Patek Philippe, reached sky-high prices once again, such as the sophisticated unique 18K gold Rolex with very decorative cloisonné enamel dial (lot 207), which sold for SFr.1,097,000 / $1,220,632 / €887,363 and reached a new world auction record for any Rolex sold at auction”.