Patek Philippe Watches Dominate Christie's Sale

The Christie's Important Watches auction which took place on May 12 realized exceptional results, including the second-highest sales price for a Christie's watch sale. The sale was marked by vigorous bidding by 500 registered bidders, and particularly strong competition from twelve internationally diverse buyers who vied for the top two lots--Lot 87, a Patek Philippe stainless steel perpetual calendar watch (Ref. 1526) which sold to a Swiss watch museum for $4,016,504, and Lot 187, a platinum Patek Philippe perpetual calendar (Ref. 2497) which sold to a European collector for $3,113,980. Incidentally, Lot 87 represents the highest auction price ever achieved for a steel wristwatch, and the second highest auction result for a wristwatch.

Lot 186 and Lot 250 were also very impressive. Lot 186 was an 18K yellow gold Patek Philippe Ref. 2499 perpetual calendar which broke the existing record price for this reference; it sold for $1,047,961. Meanwhile, Lot 250--a Patek Philippe Ref. 530 chronograph in pink gold realized a price of $939,223, also setting a new record for this model at auction.

Overall, nine out of the 10 top lots were watches manufactured by Patek Philippe. A white gold Grande Sonnerie wristwatch by renowned independent watchmaker Philippe Dufour claimed the tenth spot, at $443,689. This price set a new world record for a Philippe Dufour timepiece.