Unprecedented performance for the Watch Auctions, registering strongest half-year results ever, worldwide.
Setting numerous new records during an exceptional Spring 2021 Watch Season, Christie’s watch sales in Geneva, Dubai, Hong Kong, and New York totaled US$ 93.7 million in just four months (March-June 2021), giving Christie’s the leadership position in the watch auction market. This record performance in the first half of 2021 outperforms Christie’s watch figures for the entire years of 2020 and 2019, further cementing Christie’s position as a global leader in horological sales on live and digital platforms.
Aline Sylla-Walbaum, Christie’s Global Managing Director, Luxury Division: “It’s been an exceptionally strong first half of the year for Christie’s watch teams in Dubai, Geneva, Hong Kong and New York. Not only in terms of curating a fantastically diverse spectrum of timepieces at the highest levels of rarity, importance and value, but also opening the market to a much larger client base. Whether it was an iconic legend to wear every day, a foundation timekeeper to begin a collection, or that rarest of finds to end a decades-long search, our leadership position speaks to the expertise of our specialists and delivering our client wishes.”
Christie’s auctions in Geneva, Dubai, Hong Kong and New York presented true standout timekeepers this Spring season, notably several historically important pieces:
In Hong Kong, a unique 18k gold Patek Philippe automatic perpetual calendar wristwatch with English calendar, leap year indication and “no moon” Ref. 3448 “Alan Banbery” (manufactured in 1970, modified in 1975) which reached US$ 3,759,755 and set a new auction record for the reference. A Patek Philippe Ref. 2523/1 two crown world time wristwatch achieved US$ 2,051,364 (almost double its low estimate of US$ 1,035,389). A Patek Philippe wristwatch Ref. 1415 with enamel dial achieved auction record for the reference with US$ 2,284,326 (more than double its low estimate). A Patek Philippe Ref. 2481, also with enamel dial, achieved US$ 1,010,798 setting a new auction record as well as for the reference (4 times above the low estimate $258,847). An important F.P. Journe platinum Chronomètre Souverain, made for and presented to George Daniels, that went for US$ 420,657 (against a low estimate of US$ 184,564; an auction record for the model).
In Dubai, a Patek Philippe Sky Moon Tourbillon Ref. 5002P-001 (manufactured in 2004) sold for an online record US$ 1,590,000, setting two new records simultaneously, for the most expensive watch sold at auction in the Middle East and for any watch sold online at Christie’s. Also, La Grande Sonnerie No.1, in platinum Ref. G0025.7 by Gérald Genta, estimated at US$ 30,000-40,000, sold for US$ 500,000, whilst a yellow gold Grande Sonnerie No. 3 by Genta achieved 10 times its low estimate, selling for US$ 300,000. A rare 1952 steel Rolex, triple calendar chronograph Snow Compax, Ref. 6036, tripled its pre- sale estimate and found a new owner at US$ 350,000.
In Geneva, a Patek Philippe Perpetual Calendar Ref. 1518 in rose gold (manufactured in 1951) retailed by Serpico Y Laino, achieved US$1,502,971 against the low estimate of US$488,740. Also a Patek Philippe World Time pocket watch Ref. 605 with a cloisonné enamel dial which sold more than double the low estimate, achieving US$1,271,861. An rare and early platinum F.P.Journe Tourbillon Souverain wristwatch achieved US$ 434,000 against a low estimate of US$ 184,000.
In New York, a Cartier Art Deco Pendule Mystérieuse clock Modèle A (manufactured in circa 1925) which sold for US$ 562,500, a Patek Philippe perpetual calendar chronograph Ref. 2499/100 sold US$ 475,000, more recently the Patek Philippe Calatrava Ref. 570 owned by pop art icon Andy Warhol, which sold three times its low estimate achieving, US$ 150,000, a perpetual calendar chronograph Patek Philippe Ref. 3990EP in platinum set with diamonds that realized US$ 200,000, and a Rolex Ref. 6036 “Jean-Claude Killy” triple calendar chronograph that sold for US$ 187,500.
A LOOK AHEAD & APPOINTMENTS
The Christie’s watches department’s market leadership position will be further strengthened by appointments to the New York team as strong shipments already confirmed in September and beyond. Always aware of improving our departmental knowledge and the quality of our customer service, Christie’s is happy that the Christie New York Watches department will continue to be reinforced by Keith Davis (as Head of Department, New York Watches) and Adam Victor (as the senior New York consultant). Formerly held positions with both Vachton-Constantin and Richemond North America, Keith Davis joined Christie from another Auction House. Adam Victor, an avid watch man and transactor, brings luxury fashion expertise, including Donna Karan.