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Patek Philippe Watch Sold for Millions at Auction

May 29, 2010 by Administrator · Leave a Comment 

Sell-My-Patek-PhilippeSan Diego watch enthusiasts will be glad to hear that rare timepieces continue to command top prices on the international market. A Patek Philippe perpetual calendar chronograph wristwatch went for nearly 6.26 million Swiss francs ($5.86 million) at a recent Christie’s auction. It was sold to a Swiss private museum and set a record for the highest price paid for a yellow gold watch sold at auction, according to Christie’s.

The 1943-44 watch features an avant-garde case design and was a forerunner for future generations of complicated wristwatches. It was sold as part of a 20-piece collection put up by an anonymous seller.

“I started buying watches in the 1970s, at a time when these amazing objects appealed to very few collectors and even fewer scholars were exploring this charming field. In my opinion, wristwatches are the most beautiful wearable item created in the 20th century,” Christie’s quoted the anonymous seller as saying.

Aurel Bacs, international co-head of Christie’s watch department, called it the “Mona Lisa of all watches.”

“European bidders were fiercely challenged by international collectors, especially buyers from China,” he said of the sale.

The name of the museum wasn’t revealed, but Geneva is home to a Patek Philippe museum, which contains the best pieces made by the independent watchmaker. The entire collection netted 16 million Swiss francs, making it the most expensive private collection of watches ever sold.

Rolex Sets Record

June 28, 2009 by Administrator · Leave a Comment 

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National Jeweler has published an article covering the sale of watches and memorabilia from the late Steve McQueen, the legendary actor who rose to fame during the 1960s in films such as Bullitt and The Great Escape. The McQeen stash was among the pieces that inspired serious bidding at Antiquorum’s summer auction in New York City.

The June 11 auction brought in a total of $5,706,324, reports National Jeweler, with McQueen’s vintage Rolex, Ref. 5512, fetching an impressive $234,000, which was twenty times its estimate and a world record for that reference.

A total of 81 percent of the 416 timepieces in the summer auction were sold by lot and 122 percent were sold by value. Bids came in from across the globe, including from Hong Kong, Taiwan, Italy, Germany, France and Romania. In addition to the telephone, room and commission bidders, 478 bidders competed via the Internet.

Among the additional McQueen pieces featured in the sale were the actor’s Scott Super Squirrel motorcycle painted by Von Dutch, which sold for $276,000, double its estimate, and the Heuer “Monaco” he wore in the 1971 racing film Le Mans, which sold for a world record $87,600.

Other watches that sold for impressive amounts included Patek Philippe’s rose gold Ref. 5004 and pink gold Ref. 5970, which sold for $252,000 and $132,000, respectively, as well as Patek’s “Limited Edition Annual Calendar with Silicon Escape Wheel,” Ref. 5250G, which fetched a record $138,000.

Rolex’s “Double Red Sea Dweller,” retailed by Cartier, sold for $91,200, and Ref. 6239, a stainless steel “Paul Newman Daytona” attained $84,000, while the “Pro-Hunter Black-Carbon Daytona” sold for $42,000.

In addition, A. Lange and Sohne’s “Pour Le Merite” sold for $156,000, and Jaeger-LeCoulte’s “Platinum Master Minute Repeater,” sold for $126,000.

Christie’s May Auction

May 30, 2009 by Administrator · Leave a Comment 

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Thomas Mulier in Geneva reports for Bloomberg.com that Christie’s auction house raised 15.1 million Swiss francs ($14 million) in a watch auction in Geneva yesterday, after a rival Sotheby’s auction missed the low end of its estimated range. The top lot was a pre-owned Patek Philippe watch with a calendar that automatically adjusts to leap years that sold for $1.8 million, according to the London-based auctioneer.

The entire sale was estimated to raise 8.9 million francs to 12.8 million francs. A Sotheby’s auction of timepieces in the same Swiss city on May 10 raised 3.75 million francs, missing the low end of the sale’s estimated range by about 50,000 francs.

Christie’s sold a brass telescope given to Napoleon Bonaparte in 1800 as he traveled via Geneva to join a battle in Genoa for 147,000 francs, about triple its top estimate. The auction house also sold a Breguet carriage clock originally made for the Queen of Naples for 723,000 francs, exceeding its high estimate. It will be displayed in the Breguet museum, according to Aurel Bacs, co-head of Christie’s global watch unit.

Estimates don’t include the buyer’s premium, reports Mulier, which for Christie’s were 25 percent of the price for the first 60,000 francs, 20 percent from there to 1.2 million francs, and 12 percent of any amount in excess of that.

If you have a valuable timepiece, don’t forget to check out the San Diego Luxury Pawn Shop Report’s tips for selling a used watch.

Watch Auctioneer Opens L.A. Office

October 4, 2008 by Administrator · Leave a Comment 

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Buyers and sellers of collectable watches in San Diego will be interested to hear that Antiquorum (the world’s premier watch auctioneer) has opened a Los Angeles office due to an expanded clientele on the West Coast, reports National Jeweler Magazine. The new office is located at 468 N. Camden Dr. in Beverly Hills, and adds to a U.S. presence that already includes headquarters in New York City. Clients will be able to inquire about auction estimates for their watches, consign to upcoming auctions, and ask for advice on timepieces.

Charles Tearle will run the Los Angeles office. Tearle is a veteran of the watch industry and specializes in wristwatches from the 1920s to the 1970s. He recently joined Antiquorum as director and watch expert with a particular interest in Patek Philippe, Cartier, and Rolex sport watches.

Tearle began his distinguished career in horology at Somlo Antiques (a prestigious vintage watch store based in London). He became a watch specialist at Bonhams London in 2004, and two years later was asked to open a watch department for Bonhams in the United States. He is a regular guest on the television series Antiques Roadshow.

About Antiquorum

Antiquorum recently celebrated its 30-year anniversary, after having successfully carved its own unparalleled niche in the auction world. Established in Geneva in 1974, the company has cultivated a thriving collector’s market for timepieces worldwide. In 1994 it added its New York affiliate Antiquorum USA, and since then has continually realized the most impressive world records for sales of watches, clocks, wristwatches, regulators, and marine chronometers at auction.

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If you are a coin collector in San Diego, we have some news that may be of interest to you: US Mint Halts Sale of Gold Buffalo Coins.

New Auction House to Sell Masterpiece Watches

September 22, 2008 by Administrator · Leave a Comment 

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Patrizzi and Co. Auctioneers, a new auction house founded by former Antiquorum chairman Osvaldo Patrizzi, has announced its first-ever auction.

The National Jeweler Network reports that the sale of watchmaking masterpieces will take place on Nov. 18 at the Hotel Richemond in Geneva, with collectors also participating via the Internet.

A trio of Breguet timepieces are among the lots to be auctioned off, with Breguet No. 2807, an 18-karat gold and enamel astronomical, equation-of-time pocket watch, among the offerings. The watch was one of an edition of three created by Breguet, but No. 2807 is the earliest of the three and the only one known to still be in its original condition. The watch features mean and true solar time, manual perpetual calendar and phases of the moon. The watch was sold to General Yermoloff in 1817 and is expected to sell between $1,400,000 and $1,850,000.

Breguet No. 2396 is a fine and extremely rare 18-karat gold watch with a “Garde Temps” four-minute tourbillon regulator. The timepiece’s regulator features constant force escapement that has been converted, as well as independent seconds, a 36-hour power-reserve indicator and fast-frequency balance. The watch was also sold to General Yermoloff in 1815 and is expected to fetch between $550,000 and $850,000.

The Breguet and Fils “Horlogers de la Marine Royal,” Breguet No. 3787, is one of three of the world’s first “Garde Temps” deck chronometers with double barrels known to have survived. Made in silver, the watch is one of the first practical deck watches ever made. It is estimated between $160,000 and $180,000.

Additional highlights of the sale include a Vacheron Constantin extra flat minute repeater and a Patek Philippe Ref. 1518, each expected to realize between $180,000 and $360,000.

For highlights and more information, visit the Patrizzi and Co. Web site, PatrizziAuction.com.

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If masterpiece watches are not your style but hip hop jewelry is, then the following article from the San Diego Luxury Pawn Shop Report is right up your alley: Hip Hop Bling Goes to Auction.

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