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Christie's sale breaks watch-auction records

November 16, 2006

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Geneva—Christie's Important Pocket Watches and Wristwatches sale, held here on Nov. 13, netted a total of $15.6 million, the highest total ever for a Christie's watch auction.

The auction sold 96.7 percent by value and 92.41 percent by lot, with two timepieces selling for more than $1 million. The auction included 48 watches from a Royal House, which sold for $1 million, tripling auction estimates.

A European collector bought the top lot of the auction, a gold 1925 Patek Philippe "Grogan" single-button split-second chronograph, made for a left-handed wearer. The watch sold for $1.9 million, representing the highest price ever paid for a single watch at a Christie's auction and the third highest price ever paid for a timepiece at an auction.

The second best lot sold for $1.09 million, also to a European collector. The James Schulz platinum single-button chronograph features a minute-repeating calendar.
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