The Important Watches auction organized by Poly Auction featured an exclusive selection of 193 watches from the best watch brands chosen according to their condition, rarity and quality. Total sale including expenses: 7 794 868 $ USD, selling nearly 50% of the lots presented.
BEST RESULTS
Lot 2392 : Patek Philippe, ref. 6002G, Sky Moon Tourbillon model, white gold double dialed wristwatch, with enamel dial, sold for 2 710 904 $ USD.
Lot 2483 : Patek Philippe, ref. 5002P, Sky Moon Tourbillon model, platinum double dialed wristwatch, with twelve complications, sold for 1 347 922 $ USD.
BEST PERFORMANCES
Lot 2304 : Reuge, gilt brass cage with suspension loop, double singing birds, or 333% variation between the low estimate and the final result (16 586 $ USD).
Lot 2305 : Jaeger-Lecoultre, bronze art deco clock, with skeletonised dial, or 293% variation between the low estimate and the final result (6 031 $ USD).
Lot 2346 : Reuge, gilt brass cage clock with singing bird, or 230% variation between the low estimate and the final result (8 444 $ USD).
BREAKDOWN BY BRANDS
Patek Philippe
On the first step of the podium, with two watches exceeding the million USD mark, average per lot 305 263 $ USD. A result that is based on the two highest auctions of the sale with lots 2392 and 2483.
Rolex
On the second step of the podium, with a watch above 250 000 $ USD, average per lot 33 568 $ USD.
Cartier
On the third step of the podium, with a watch having surpassed the 100 000 $ USD mark, average per lot 34 681 $ USD.
These three brands represent a total revenue of 6 312 610 $ USD, or more than 80% of the total sale.
AVERAGE PRICE PER LOT
Based on the number of lots, 193 in total, including 98 unsold lots, the average price of a lot was 82 924 $ USD.
CONCLUSION
This new Chinese auction house Poly Auction in our portfolio also gives us information on the market dynamics in Asia beyond the classic actors that are the two giants Christie’s and Sotheby’s. This sale in October gave rise to fierce bidding battles and once again confirms the great return of Patek Philippe in the foreground with nearly three quarters of the final result and major auctions results on modern timepieces.
