Sotheby’s HK Watch Auction Raises $2.7M

Patek Philippe gold Tonneau Form watchA Patek Philippe gold Tonneau Form watch received the highest bid at Sotheby’s Important Watch auction in Hong Kong on April 7.

The yellow gold watch with automatic repeating perpetual calendar, retrograde date, and moon phases sold for $355,757. A Vacheron Constantin platinum perpetual calendar minute repeating watch with moon phases and leap year indication sold for $202,193 with spirited bidding reported. A Patek Philippe yellow gold automatic bracelet watch with perpetual calendar, moon phases and leap year indication sold for $125,411.

The auction took in $2.7 million. A total of 69.5 percent of the offerings were sold by lot and 64.5 percent by value.

“Bidding today was selective and measured but we did see an array of strong prices,” said Vanessa Herrera, Head of Watches at Sotheby’s Hong Kong. “Asian bidding was strong, particularly that from Mainland China and in fact, four of the top ten lots were purchased by Chinese clients. We are pleased with the solid 70 percent sold by lot rate we achieved today.”