Geneva Auction of Wristwatches Reaches $6.7 Million

Patek Philippe's 1938 men's wristwatch which reached $1.17 million.

Geneva Sale of Wristwatches Reaches $6.7 Million

Online Bids Total $488,072

GENEVA, SWITZERLAND - Antiquorum's theme sale "100 Years of Wristwatches," held November 19 at the Hotel des Bergues, totalled $6,760,517, with 125 percent of lots sold by value and 77 percent by lot.

Sixty-three clients registered to bid online via Antiquorum Online at www.antiquorum.com for a total of $488,072. Altogether 1,959 watch enthusiasts were online viewing the live auction broadcast. Lot 380, last lot of the sale, was purchased by an Internet participant for $85,000, realizing the same amount as the Swiss public price for a Patek Philippe, ref. 5004, of 1997.

Osvaldo Patrizzi, chairman of Antiquorum, commented, "We are honored to see present at the auction the representatives of watch brands such as Audemars Piguet, Breguet, Hatot, Longines, Omega and Patek Philippe. The atmosphere was terrific and the results are spectacular."

Eight of the nine top lots were Patek Philippe watches; the top lot was a 1938 Patek Philippe men's wristwatch in 18 karat pink gold. It sold for $1,170,000, the second most expensive wristwatch ever sold at auction. It was purchased by a private Swiss museum.

Record prices were set by Omega with a "Tourbillon," which sold for $57,270 and the watch of Lawrence of Arabia that brought $48,000. Both were bought by Omega Museum. A Hermes with an "Anti Magnetique" mono-rattrapante sold for $12,850 to the Maison Hermes.

Top prices for unique items were achieved for a unique gold tonneau-shaped Breguet with single-button chronograph that fetched $63,400, bought by the Breguet Museum; and the album of watch dial drawings sold for $27,000 to a collector from the Middle East.