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Antiquorum sees record auction

December 07, 2007

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New York—Antiquorum's Important Collectors' Wristwatches, Pocket Watches and Clocks sale in New York helped the auction house end its year with a bang, yielding a record $9.6 million in sales.

Bidders from Hong Kong, Switzerland and Russia were among those vying for the sale's 402 lots, with a record 441 online bidders joining telephone and commission bidders for the Dec. 5 auction. By closing time, nearly 85 percent of the goods were sold by lot and 119 percent by value.

"We are very pleased by the outcome of [the] sale, which reflects the willingness of collectors to pay premium prices for timepieces that have never been seen at auction before," Julien Schaerer, watch director and auctioneer for Antiquorum USA, said in a press release.

The highlight of the sale was a Patek Philippe, Ref. 2497, "First Series," which sold for $624,400. Other Patek Philippe watches also sold well, including a white gold Ref. 5016, which attained $540,400. A set of four Patek Philippe "Calatrava" wristwatches with cloisonné enamel dials fetched $254,800. Even watch-related items such as a white, pink, and yellow gold Patek Philippe lighter sold for $12,980.

Gerald Genta also did exceptionally well at the auction, with its "Grande Complication" watch going for $350,000. Fetching $445,200 was Breguet's "250th Anniversary" Ref. 3857PT, while FP Journe's "Tourbillon Souverain a Remontoir d' Egalite avec Seconde Morte" was sold for $82,600.

An Omega "Chronograph" sold for $38,940, more than three times its pre-auction estimate, and an Audemars Piguet white gold skeletonized wristwatch sold for $23,010, which was six times its pre-auction estimate.
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