Patek Philippe watches set records at Antiquorum auction

By JCK Online Staff -- JCK Online, 9/23/2004 2:00:00 AM

Antiquorum opened its fall season Wednesday with record sales of nearly $4.2 million at its New York auction of Important Collector’s Wristwatches & Pocket Watches. The single day sale was the third highest for Antiquorum USA.

More than 200 registered online, telephone, and live auction bidders showed strong interest from around the world, including Russia, Mexico, Japan, Hong Kong, Europe, and the United States.

Two Patek Philippe watches set world records for timepieces sold at auction. In a thrilling auction finish, the Patek Philippe & Cie, Genève, fetched $230,500. In addition, this extremely fine and rare stainless steel gentleman’s wristwatch was offered without reserve and achieved over 288% of its low estimate. The second world record was the sale of a Patek Philippe & Cie, Genève, $115,000.

The Patek Philippe watches were the highlights of the sale with the Patek Philippe, Genève, an important astronomic, minute-repeating gentleman’s wristwatch, selling for $357,000. Pocket watches also sold well as evidenced by the sale six Breguet watches fetching $236,000. A Patek Philippe & Cie, Genève sold for $120,500, at 151% over its low estimate, a Patek, Philippe & Cie, Genève, “World Time,” greatly exceeded its low estimate by 241% fetching $120,500.

“This auction was an extremely exciting sale with a lot of animation and competition between bidders,” said Osvaldo Patrizzi, Antiquorum’s founder and chairman. “The rare pieces saw tremendous active bidding among watch lovers and collectors from all corners of the globe, and we were excited that today’s enthusiasm for haute horology achieved two world records.”