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Patek Philippe sales break records at Antiquorum

March 30, 2007

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New York—Antiquorum's spring season got off to a running start, with four world records broken and nearly $7.2 million in sales achieved at its Important Collectors' Wristwatches, Pocket Watches & Clocks auction.

Nearly 400 online bidders were joined by others who bid by telephone, on-site and on commission. Bidders hailed from all corners of the globe, including Australia, Portugal, Russia, Spain, Taiwan and the United States. Of the 347 timepieces on the auction block, 119 percent were sold in terms of value and 88 percent were sold by lot, according to a press release issued after the auction, held Wednesday in New York.

The top lot of the sale, the Patek Philippe Ref. 5029, lot 343, fetched $590,800, which set a world record for that particular reference. Record sales were also achieved for the Patek Philippe Ref. 5013, lot 344, which sold for $523,600 and the Patek Philippe Ref. 3974, lot 113, which fetched $518,000 in the saleroom. Panerai also achieved a world record with lot 269, the "PAM 21," selling for $140,400.

Collectors also enthusiastically competed for Rolex wristwatches. Of note was lot 331, the so-called "James Bond" Submariner, which sold for $82,600. In addition, the Rolex "Comex" Submariner, lot 333, fetched $73,160, and lot 33, the so-called "Black Dial Pre-Daytona," Ref. 6238, achieved $88,500.

"The success for our first auction of 2007 is a clear indication of the strength of the U.S. watch market," Evan Zimmermann, director of Antiquorum USA, said in the release.
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