Historically Important Unique Patek Philippe Ref.2419 retailed by Cartier Sold for $710,500
Antiquorum held a highly spirited and extremely successful auction of Important Modern & Vintage Timepieces on Thursday, March 10th in New York totaling $4,460,162. The auction of 275 rare and collectible timepieces drew a standing room only crowd, in addition to 301 registered internet bidders and phone bidders from around the world. Aggressive international bidding came from countries such as China, The Russian Federation, Qatar, Canada as well as the United States. Strong prices were achieved resulting in 81% sold by lot and 125 % sold by value.
The competitive bidding for the exceptional Patek Philippe ref. 2419 [Lot 275] was undoubtedly the highlight of the sale. The rare Patek Philippe inspired tremendous excitement in the sale room and on the internet. Ultimately, the unique minute repeating wristwatch retailed by Cartier sold for an astounding $ 710, 500 to a Chinese bidder.
"We are thrilled by today's outcome for our March auction in New York," said Evan Zimmermann, President and CEO, Antiquorum. "The spectacular results for the exceptional minute-repeating Patek Philippe ref. 2419 wristwatch retailed by Cartier confirms that collectors today are willing to pay a premium for watches that are unique and new to the market."
Furthermore, several other Patek Philippe timepieces achieved exceptional results, confirming that complicated Patek Philippe watches continue to dominate the top lots at auction. The Celestial, ref. 5102 [lot 274] sold for a notable $ 218,500; while the Patek Philippe ref. 3450 in 18K yellow gold with Roman leap year display [lot 183] and the Patek Philippe ref. 3448 in yellow gold with perpetual calendar [lot 272] each achieved $158,500. In addition, Audemars Piguet continues to attain strong results for the rare examples with the stainless steel Minute Repeater No. 1 [lot 95] fetching an excellent $ 62,500 and the 18K rose gold rectangular Jump Hour Minute Repeater No. 8 [lot 169], especially sought after by Asian bidders, sold for $ 48,750. Further highlighting that complications continue to be the focus amongst collectors, Jaeger- LeCoultre attained excellent results for its examples; the Jaeger-LeCoultre Reverso Gyrotourbillon 2[lot 100] sold for an impressive $266,500 and the Jaeger- LeCoultre Master Minute Repeater in pink gold [lot 219] achieved $ 86,500.
"The results for today's sale demonstrate the increased demand for rare and complicated watches on a global basis with bids coming from Europe and Asia in addition to the United States confirming New York as a global destination for important timepieces," said Charles Tearle, Watch Director & Auctioneer, Antiquorum USA.
Finally, Rolex confirmed its resurgence with strong bidding across all price levels and highlighted by the Paul Nemwan, ref. 6241 [lot 202] which achieved $73,300 and the Rolex ref. 6238 [lot 201] which sold for $ 40,000.