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Antiquorum auction nets nearly $9.9 million

'Einstein Watch' sells for more than 2,000 percent its estimate

October 17, 2008

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New York—Antiquorum's first auction of the fall season has brought in a total of $9,892,812 for the sale of Important Collectors' Wristwatches, Pocket Watches and Clocks.

The sale took place in New York on Oct. 16, with 82 percent of the 404 timepieces offered sold by lot and 148 percent sold by value.

"The results from today's auction are confirmation that despite the current erratic economic climate, important timepieces continue to be extremely sought after, highly collectible and sound tangible investments that have consistently proven to appreciate exponentially over time," Antiquorum Chairman Robert Maron said in a media release.

Global interest came from areas including China, Germany, Hong Kong, Italy and Russia, with a record number of more than 1,000 bidders and viewers using Antiquorum's online bidding system. More than 34 percent of the lots were sold via the Internet.

Lot 403, a Patek Philippe Ref. 2499 "First Series," was the star of the sale, fetching $1,514,400. Several other Patek Philippes sold well, including lot 404, a Ref. 3450 with red leap year indicator; lot 182, Ref. 1518; and lot 387, the "Ten Day Tourbillon." The timepieces sold for $237,600, $327,200 and $276,800, respectively.

According to the auction house, the most frenzied bidding was for the "Einstein Watch," a Longines wristwatch that belonged to the world-famous physicist Albert Einstein. The watch sold for $596,000, more than 2,000 percent its estimate, and a world record for both a time-only and a Longines wristwatch.

Watch brands Vacheron Constantin and Rolex also did well in the auction, with Vacheron's "Skeleton Minute Repeater" in rose gold, lot 195, bringing in $282,400, and Rolex's "Platinum Day Date," lot 318, achieving a world record at $78,000.

Antiquorum will hold a 720-lot sale in Geneva from Nov. 15-16.
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