EAST DENNIS, MASS. – Twelve phone bidders and at least one competitive floor bidder chased a rare Patek Philippe 18K gold chronograph wristwatch to a final price of $276,000 during Eldred’s fine and decorative art auction on October 29. The watch, which came from a local consignor, sold to a phone bidder.

“The watch has a rare split second movement, which allows for very precise record keeping. The complication was introduced by Patek Philippe in the late 1930s or early 1940s for timing horse or car races,” said Leah Kingman, head of Eldred’s European decorative arts department. “The piece’s rarity brought out competitive bidders from around the world. The atmosphere in the room when it came on the block was definitely one of excitement, and the bidding was frenetic. On multiple occasions bidders jumped the bid substantially over what the auctioneer was asking for and a handful of bidders stayed active to the very end. The final price is comparable with existing auction records.”

The diverse sale included 475 lots of jewelry, ceramics, glass, Continental fine and decorative arts, and Twentieth Century furniture and paintings. In addition to the watch, other highlights include three Tiffany Studios lamp bases, which sold over estimate for $1,200, $3,600 and $5,400, and 22 lots of paperweights from a single-owner collection, which sold for a combined $18,030, more than double the presale estimate. An unsigned Dutch harbor scene was the day’s sleeper, bringing $2,250 on a $200/300 presale estimate.

Prices reported include the buyer’s premium. For information, 508-385-3116 or www.eldreds.com.