Two Patek Watches Fetch $7.3 Million

Christie’s “Important Watches” auction in Geneva on Monday took in more than $25 million, the second-highest total ever for a watch auction at the international auction house. Patek Philippe was the star of the evening as its watches earned 13 of the top 15 bids.

“A highly educated market, represented by 500 registered bidders, responded enthusiastically to the finely curated selection of watches in today’s landmark sale setting numerous world records throughout the day,” said Aurel Bacs, co-director of Christie’s international watch department.

Two Patek Philippe watches fetched a total of $7.3 million. Twelve bidders from four continents competed for the two timepieces, Bacs said.

A 1949 Patek Philippe stainless steel, perpetual calendar wristwatch with phases of the moon, amagnetic balance, and applied painted Arabic numerals fetched $3.95 million. It was owned by Briggs Cunningham II, Cincinnati, Ohio, (1907 – 2003), a millionaire American sportsman whose was a victorious America’s Cup skipper and a respected motor racing personality—esteemed as a driver, owner and manufacturer.

A 1954 Patek Philippe platinum perpetual calendar wristwatch with sweep center seconds, phases of the moon, and black hard enamel Breguet numerals, fetched just over $3 million.

Aprivate Rolex collection of diver watches, “far exceeding the pre-sale estimate and underlining the strong demand in vintage Rolex sports watches,” Bacs said.