Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Rare Swiss watches fetch record prices

Share this article

Rare Swiss watches fetch record prices
Patek Philippe watch that sold for more than $2.7 million. Photo: Christie's
09:02 CET+01:00
Records tumbled at a special auction in Geneva to mark 175 years of Patek Philippe watches, with a rare pink gold item going for $2.71 million, auctioneers Christie's said.

The auction on Sunday of 100 wrist and pocket watches brought in a total of $19,731,099, double the original estimate, and set nine world records in the process, Christie's said in a statement after the three-hour bidding battle.
   
The top lot of the evening was the pink gold watch, manufactured in 1951 by the Geneva-based maker, and one of only four of its kind known to the market.
   
"This sale has exceeded our expectations in every way," said John Reardon, international head of Christie's watch department.
   
"(It) sets a new benchmark for thematic sales and shows the amazing strength of the Patek Philippe market," he added.
   
All 125 seats in the sale room had been reserved 48 hours ahead of the auction, and over 300 collectors and watch enthusiasts attended the event.
   
The sale continues on Monday.
   
On Tuesday, Sotheby's is set to auction off what is billed as the most famous, and expensive, watch in the world, another Patek Philippe creation.
   
The celebrated timepiece known as the "Henry Graves Supercomplication" after its original owner, a New York banker, was made in the 1930s and estimates say it will sell for $15 million.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement