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18 December 2013  |  New York, Rockefeller Center   |  PRINT  |  PDF
For Immediate Release

POST-SALE RELEASE: CHRISTIE’S NEW YORK DECEMBER 17 AUCTION OF IMPORTANT WATCHES REALIZES $12.9 MILLION

  • “Sleeping Beauty” Rolex, Reference 8171 “Padellone” sells for record-breaking $1.14 million
  • Multiple New Records Achieved for Models by Patek Philippe, Rolex, Richard Mille, Chanel, and Vacheron Constantin

New York – Christie’s New York saw a successful finale to the 2013 Watches auction season on December 17, with a 365-lot auction of Important Watches, which achieved a total of $12,926,175 and selling 91% by lot and 95% by value. The top lot of the sale was an exceptional Rolex, Stainless Steel Reference 8171 “Padellone,” which sold for $1,145,000, quadrupling its pre-sale estimate of $250,000 – 350,000 after a fierce bidding war that spanned across four countries and establishing a new world auction record for a Rolex Reference 8171. This result combined with the June 11 auction, brings the 2013 New York total to over US$20.8 million. After a year that saw record-breaking figures across Geneva, Hong Kong, and New York salerooms, 2013 marks Christie’s eighth consecutive year as leader of the watch auction market.

Aurel Bacs, International Head of Watches, commented: “Today’s auction was a most memorable grand finale to the most successful year of watch auctions ever orchestrated by any auction house in history. Savvy bidders, from around the world gathered to compete fiercely for a beautifully curated, intelligently estimated, and well researched selection of high-quality collectors watches. The six-hour auction went from one high to the next, showing the unlimited and international appeal of important watches. The global character of the watch market was further demonstrated by the ten collectors from four continents that were represented in the top ten lots of the sale.” Regarding his departure from Christie’s, Mr. Bacs remarked, “It has been a privilege to lead this extraordinary team over the last decade. Living with this team one record-breaking year after the next and closing the year with such a remarkable sale is the most wonderful farewell any auctioneer could have hoped for. With John Reardon and Sam Hines taking over in January 2014, this department is in the most capable hands in the auction industry, and I whole-heartedly wish the Christie’s Watches department soaring success in the future.”

TOP LOTS

  • ROLEX, REFERENCE 8171 “PADELLONE”. A stainless steel and diamond-set automatic triple calendar wristwatch with moon phases and two-toned silvered dial. Circa 1953.

WORLD AUCTION RECORD FOR A ROLEX REFERENCE 8171

Estimate: $250,000 – $350,000

Price Realized: $1,145,000

  • PATEK PHILIPPE, REFERENCE 2499. 18K gold perpetual calendar chronograph wristwatch with moon phases, tachometer scale, and silvered matte dial. Manufactured in 1960.

Estimate: $550,000 – $750,000

Price Realized: $725,000

John Reardon, Head of Watches for Christie’s New York, added: “Having completed my first auction with Christie’s, I am absolutely thrilled with today’s result. This sale displayed the breadth of what makes Christie’s Watches so incredibly unique in the world of horology: a community of specialists, collectors, and new buyers all coming together to celebrate their mutual passion. The bidding was spirited, aggressive, and reflects the evolving tastes of the worldwide marketplace with collectors in the room, on the phone and on Christie's LIVE™ from fourteen countries.”

Note to Editors:

*The final 2013 global total for the Watches category will be announced in January 2014 as part of the company’s annual global figures release.

 

Related Sale Sale 2753
Important Watches
December 17, 2013
New York, Rockefeller Plaza


Related Departments Watches & Wristwatches



About Christie’s
Christie’s, the world's leading art business, had global auction and private sales in the first half of 2014 that totaled £2.69 / $4.47 billion, making it the highest half year total in Christie’s history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers around 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery. Private sales in the first half of 2014 totalled £498.9 million ($828.2 million).

Christie’s has a global presence with 53 offices in 32 countries and 12 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, Shanghai, and Mumbai. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.

Complete catalogue available online at www.christies.com or via Christie’s Mobile, iPhone, iPad and Android apps.
Contacts
Aurel Bacs, International Head of Watches, selling the Rolex, Reference 8171 “Padellone”