The Hong Kong Watches 1.0 auction organized by Bonhams featured an exclusive selection of 184 watches from the best watch brands chosen according to their condition, rarity and quality. Total sale including costs: 4 372 720 $ USD, selling 75% of the lots presented.
Lot 984 : Patek Philippe ref. 5078P, platinum automatic minute repeating wristwatch with enamel dial, sold for 320 000 $ USD.
Lot 853 : Chopard, “Haute Joaillerie” Ice Cube model, case and movement by Chopard, bracelet by Moussaieff, white and pink gold, diamond and pink diamond-set lady’s bracelet watch, sold for 304 000 $ USD.
Lot 876 : Cartier, model Tonneau, n°36, special edition “Salon Privee” platinum wristwatch, 452% variation between the low estimate and the final result (16 000 $ USD).
Lot 821 : Juvet, a pair of small open-faces key wound centre seconds lever fob watches, made for the Chinese market, with a 269% variation between the low estimate and the final result (9 600 $ USD).
Lot 934 : Vacheron Constantin ref. 47660, Overseas model, white gold and diamond-set automatic centre seconds wristwatch with date, or 260% variation between the low estimate and the final result (32 000 $ USD).
BREAKDOWN BY BRANDS
On the first step of the podium, with a watch having exceeded the 300 000 $ USD mark, average per lot 44 615 $ USD. A result based on the highest bid of the sale with lot 984.
On the second step of the podium, with a watch above 200 000 $ USD, average per lot 149 867 $ USD.
On the third step of the podium, with two watches exceeding 100 000 $ USD, average per lot 41 872 $ USD.
These three brands represent a total revenue of 2 608 320 $ USD, or nearly 60% of the total sale.
AVERAGE PRICE PER LOT
Based on the number of lots, 184 in total, including 45 unsold lots, the average price of a lot was 31 458 $ USD.
A solid sale that once again demonstrates the importance of selecting pieces in an increasingly selective market. This first performance by the new team under the management of Tim Bourne and Sharon Chan shows some very strong results especially for Patek Philippe modern timepieces taking the biggest market share of this season.