NYC Watch Auction Totals $2 Million

By William George Shuster, Senior Editor -- JCK Online, 1/1/2002 2:00:00 AM

Antiquorum, one of the world's leading horological auctioneers, opened its fall season Oct. 3 in New York City with a sale of collectors' pocket watches, wristwatches, and clocks that took in more than $2 million.

The auction's results surpassed all expectations, declared Osvaldo Patrizzi, Antiquorum's chairman. Because of the terrible events in September, "There was concern preceding the auction, but overall the auction proved that the watch market is stable, and that watch collecting is an excellent alternative to investing," he said.

The top price ($239,000) was for a rare 1843 silver Grande et Petite Sonnerie carillon carriage clock with alarm and double calendar. A 1997 Patek Philippe limited-edition 18k pink gold self-winding wristwatch went for $167,500. Both were sold to private collectors, whose names weren't disclosed.

Antiquorum's online bidding system enabled clients in America and worldwide to participate. More than 130 collectors registered to bid online, and 2,000-plus viewers around the world followed the live auction broadcast. Online sales alone totaled more than $171,000.