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Year-end Antiquorum sale reaches nearly $7.3M

December 15, 2008

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The top lot in Antiquorum's final auction of 2008 was Patek Philippe's Ref. 5016 in platinum, which fetched $660,000.

New York--Antiquorum closed its 2008 season last week, netting a total of $7,279,620 in a New York sale of Important Collectors' Wristwatches, Pocket Watches and Clocks.

More than 388 online bidders competed with telephone and commission bidders for the 542 lots in the Dec. 10-11 sale. The lots offered sold at 105 percent of their estimate, and 75 percent of all lots sold.

The highlight of the sale was lot 538, a Patek Philippe Ref. 5016 in platinum, which fetched $660,000. A number of additional Patek Philippe models achieved excellent prices, including Ref. 5004R (lot 535), which sold for $360,000, and Ref. 5013 (lot 374), which sold for $468,000. The brand's Ref. 3970 has continued to see interest from collectors, and a white gold version (lot 530) sold for $117,600, while a platinum model (lot 537) sold for $132,000. Lastly, Ref. T150 (lot 148), retailed by Tiffany and Co., realized $38,400.

Panerai and Rolex also achieved strong results, with Panerai's "White Gold Seconds Counter" (lot 293) selling for $26,400, and its "White Gold Zerograph" (lot 294) selling for $33,600.

Meanwhile, Rolex's Ref. 6262, a stainless steel "Paul Newman Daytona" (lot 507), sold for $76,800. The brand's "Double Red Sea-Dweller" (lot 275) realized $38,400, and its Ref. 16600 "Pro-Hunter Sea-Dweller 4000" (lot 473) attained $30,000.

"Our December sale was clear confirmation that collectors are continuing to enthusiastically buy high-end timepieces," Antiquorum USA Watch Director Julien Schaerer said in a media release. "Quality brands such as Patek Philippe are very much in demand, demonstrating the watch market has maintained its strength in spite of the recent economic downturn."

Antiquorum's next auction, a sale of Important Collectors' Wristwatches, Pocket Watches and Clocks, will take place on March 5, 2009, in New York City.
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