The Watches auction organized by Sotheby’s included an exclusive selection of 121 watches from the best watch brands chosen according to their condition, rarity and quality. Total sale including costs : 2 625 125 $ USD, selling 72% of the lots presented.
BEST RESULTS
Lot 27 : Chopard, TOURBILLON L.U.C model, limited edition white gold, diamond and sapphire-set tourbillon wristwatch, sold for 218 750 $ USD.
Lot 59 : Richard Mille ref. RM004 AN CA RHS RED, Felipe Massa model, limited edition titanium semi-skeletonized split-seconds chronograph wristwatch, sold for 162 500 $ USD.
BEST PERFORMANCES
Lot 66 : Piaget ref. 9902 A 23, yellow gold and diamond-set bracelet watch with enamel dial and mashallah inscription, or 160% variation between the low estimate and the final result (15 625 $ USD).
Lot 121 : Chopard, white gold, diamond and sapphire-set bracelet watch, or 122% variation between the low estimate and the final result.
Lot 24 : Roger Dubuis, Excalibur Chronoexcel model, limited edition pink gold chronograph wristwatch, or 113% variation between the low estimate and the final result (21 250 $ USD).
BREAKDOWN BY BRANDS
Richard Mille
On the first step of the podium, with three watches exceeding 100 000 $ USD, average per lot 149 167 $ USD. A result based on the second highest bid of the sale with lot 59.
Chopard
On the second step of the podium, with a watch above $200,000 USD, average per lot 115 000 $ USD. A result based on the highest bid of the sale with lot 27.
Rolex
On the third step of the podium, with two watches exceeding 50 000 $ USD, average per lot 18 481 $ USD.
These three brands represent a total revenue of 1 032 750 $ USD, or nearly 40% of the total sale.
AVERAGE PRICE PER LOT
Based on the number of lots, 121 in total, including 32 unsold lots, the average price of a lot was 29 831 $ USD.
CONCLUSION
A first time experience for Sotheby’s in Dubai where its competitor Christie’s so far has the leadership. Somehow it was a strong sale with solid results from modern timepieces such as Richard Mille which shows its strength on the market region of the globe where they are many young and avid collectors.
