The Important Watches auction organized by Sotheby’s featured an exclusive selection of 228 watches from the best watch brands chosen according to their condition, rarity and quality. Total sale including costs: 8 920 147 $ USD, selling 80% of the lots presented.
BEST RESULTS
Lot 184 : Patek Philippe ref. 2497, pink gold perpetual calendar wristwatch with centre seconds and moon phases, sold for 965 231 $ USD.
Lot 88 : Patek Philippe ref 1518, yellow gold perpetual calendar chronograph wristwatch with moon phases, retailed by Guillermin, sold for 492 465 $ USD.
BEST PERFORMANCES
Lot 119 : Hermes ref. AR8.970, Le Temps Suspendu model, pink gold wristwatch with date and suspending time, or 775% variation between the low estimate and the final result (17 236 $ USD).
Lot 127 : Nivada ref. 85017, Chronomaster Aviator Sea Driver model, stainless steel chronograph wristwatch, or 587% variation between the low estimate and the final result (6 771 $ USD).
Lot 110 : Cartier ref. 3577, Calibre model, pink gold chronograph wristwatch with date, or 369% variation between the low estimate and the final result (9 234 $ USD).
BREAKDOWN BY BRANDS
Patek Philippe
On the first step of the podium, with a watch having exceeded 900 000 $ USD, average per lot 67 128 $ USD. A result based on the highest bid of the sale with lot 184.
Rolex
On the second step of the podium, with a watch above 400 000 $ USD, average per lot 54 950 $ USD.
Audemars Piguet
On the third step of the podium, with a watch having exceeded the 200 000 $ USD mark, average per lot 47 169 $ USD.
These three brands represent a total revenue of 6 803 656 $ USD, or more than 75% of the total sale.
AVERAGE PRICE PER LOT
Based on the number of lots, 228 in total, including 45 unsold lots, the average price of a lot was 49 012 $ USD.
CONCLUSION
These results confirm the market status for vintage watches signed by Audemars Piguet just behind the two star brands Patek Philippe and Rolex. Audemars Piguet is closely becoming a serious challenger with very strong prices achieved at auctions during the Geneva session. Once again, Sotheby’s reaffirms its leading position on Patek Philippe with one again after Hong Kong the Geneva watch brand on the first step of the podium.
