Two timepieces set new auction records at the most recent Sotheby’s watch sale in Hong Kong, while nearly half of the lots sold above their high estimates.
A Patek Philippe Ref. 2526, the first self-winding wristwatch from collector J.B. Champion, brought in HKD 5.7 million ($729,977), within its estimated range, Sotheby’s said Monday. Meanwhile Cartier’s Paris Cloche, No. 1/1, fetched HKD 1.7 million ($210,882), more than four times its high estimate. Both set a record for the highest auction amount for the specific model, Sotheby’s noted.
In total, the April 7 Hong Kong Important Watches auction garnered HKD 126.3 million ($16.1 million). Over two-thirds of buyers were from China and the US, the auction house noted.
Meanwhile, the top lot of the auction, a Patek Philippe Ref. 2499 made in 1960, saw fierce bidding between participants in the room and on the phone. That piece, which sold within its estimated range, went for HKD 8 million ($1 million) after nearly 20 bids.
Source: DCLA
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