Sotheby’s reports most valuable watches sale
HONG KONG, October 10, 2011 – Sotheby’s Hong Kong has reported the company’s most valuable watches sale.
Discussing the October 6 sale of Important Watches, Vanessa Herrera, Head of Watches, Sotheby’s China and Southeast Asia, said, “This historic sale marks the largest ever in the Company’s history. Truly international and highly competitive bidding resulted in premium prices achieved for the rarest and most sought-after collectible watches.
“23 lots sold in excess of HK$1 million / US$128,205 with record-breaking participation for telephone and online bidding.
“Buyers from all three continents were represented in the top-ten, indicative of a healthy and robust global watch auction market.”
The top lot was a vintage Patek Philippe pink gold wristwatch, which surpassed a high estimate to achieve U.S. $710,256 (Est. U.S. $410,000-610,000.)