A new record for Rolex watches sold in auction was set at Wednesday’s “Important Watches” sale of Sotheby’s in New York City, the international auction house said.

A Rolex stainless steel Oyster Cosmograph Daytona (pictured) went for $505,000 to a private bidder (all prices include buyer’s premium). It was a new record for a Rolex Daytona and the second-highest price achieved in auction for any Rolex watch.

In other sales, a number of Patek Philippe timepieces pulled high prices. A gold automatic minute repeater with hinged case went, for $301,000; a large gold automatic perpetual calendar with Doré dial and moon-phases, for $400,000 and a platinum rectangular tourbillon with 10-day power reserve, for $265,000.

In addition, a pink gold IWC minute repeater perpetual calendar split seconds chronograph tourbillon with moon-phases sold for $163,000, while a Lange & Söhne limited edition gold tourbillon sold $145,000.

“The [auction’s] results demonstrate the strength of the market for modern watches, particularly Patek Philippe, as well as for unusual Rolex sports model watches,” said Aaron Rich, head of the Watches Department in New York. “We saw excellent global participation with bidders from Europe, Asia and America.”

JCK