Would You Pay $400,000 for a Nine-Year-Old Patek Philippe?

Lot 366, Patek Philippe

Lot 366, Patek Philippe

Christie’s Important Watches Auction yesterday in New York yielded nearly $8.8 million in sales, further underscoring the thriving collector watch market. The top lot, Lot 366, in the auction was a 2008 Patek Philippe Reference 5033 platinum tonneau minute repeater with annual calendar. Sold with original certificate, the watch went to a private American collector who paid $401,000 – more than $20,000 above the expected sale price. Got to love those Patek collectors!

Lot 163

Lot 163

The second top-selling lot, Lot 163, also went for way above its expected price. That watch was an 18-karat white gold and diamond bracelet Piaget, Ref. 40011 that had been created in 2002. It sold for $365,000 to an Asian collector. Finally, Lot 46, a 1994 Vacheron Constantin fetched $233,000. The limited edition 18-karat pink gold skeletonized minute repeater was sold to a collector in the Middle East. In all, Christie’s put up more than 300 lots for sale, with approximately 85 percent of the lots selling.

Lot 46

Lot 46

“Today’s sale displayed the scope of international participation in our auctions, and the depth of interest in the world’s finest horological treasures,” says John Reardon, International head of Christie’s Watches. The next Important Watches sale from Christie’s is slated for November 10 in Geneva.

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