Geneva – Christie’s Spring Important Watches totaled SFr. 16,050,875 / $16,018,773 / €14,654449, sell through rates were 92% by value and 90% by lot and the sale set a new record at auction for lot 166, the Patek Philippe, reference 2497, known as The Haile Selassie, amongst many.
Auctioneer and head of Christie’s Geneva watch department, Thomas Perazzi opened lot 166 for bidding at CHF400,000 and it took 15 minutes until he was able to knockdown this collector’s dream at CHF2,911,500 / $2905,677. “Selling one of only three examples of this watch was a privilege and seeing how enthusiastic the world of watches reacted to this masterpiece was really exciting. Along the 15 minutes until knockdown new bidders entered the competition constantly, either in the room or on the phones. The afternoon session of the auction was dedicated to Rolex and the offering of 116 watches was again very well received with strong bidding through all our channels. Experiencing strong live bidding from the room underlined the importance of Geneva to be the place to offer these kind of watch masterpieces as the city continues to attract new bidders every season,” he commented after the auction.
The top lot in the Rolex section was the 1972 Oyster Cosmograph, Daytona Model ref. 6263, with a green Khanjar symbol. It was sold in the presence of the consignor, today a retired British Airway pilot who flew the Sultan and his entourage, on one of his first State visits, from Muscat to Rome in 1974. Just before landing in Rome one of the Sultan’s Ministers entered the cockpit and gave the pilot - as a thank you - the watch in question. The timepiece sold for CHF727,500, doubling its pre-sale estimate. Lot 271, a Rolex Oyster Perpetual Submariner sold for CHF631,500, again doubling its pre-sale estimate.
The Important Watches auction was much anticipated and international interest and bidding from 44 countries -one of the highest ever- was witnessed in a packed saleroom from 10.00am to 5.00pm, welcoming over 100 new clients to Christie’s. Furthermore, did the auction achieve the highest online participation for any watch sale conducted at Christie’s with over 470 registrants.
Today, Tuesday 16 May Christie’s Geneva will be holding its Fine Wines auction and tomorrow, Wednesday 17 May, the Magnificent Jewels sale will conclude the Spring Luxury Sales season 2017.
Please find attached the full Top 10 results.
Founded in 1766, Christie’s is a world-leading art and luxury business. Renowned and trusted for its expert live and online auctions, as well as its bespoke private sales, Christie’s offers a full portfolio of global services to its clients, including art appraisal, art financing, international real estate and education. Christie’s has a physical presence in 46 countries, throughout the Americas, Europe, Middle East, and Asia Pacific, with flagship international sales hubs in New York, London, Hong Kong, Paris and Geneva. It also is the only international auction house authorized to hold sales in mainland China (Shanghai).
Christie’s auctions span more than 80 art and luxury categories, at price points ranging from $200 to over $100 million. In recent years, Christie’s has achieved the world record price for an artwork at auction (Leonardo da Vinci’s Salvador Mundi, 2017), for a single collection sale (the Collection of Peggy and David Rockefeller, 2018), and for a work by a living artist (Jeff Koons’ Rabbit, 2019).
Christie’s Private Sales offers a seamless service for buying and selling art, jewellery and watches outside of the auction calendar, working exclusively with Christie’s specialists at a client’s individual pace.
Recent innovations at Christie’s include the groundbreaking sale of the first NFT for a digital work of art ever offered at a major auction house (Beeple’s Everydays, March 2021), with the unprecedented acceptance of cryptocurrency as a means of payment. As an industry leader in digital innovation, Christie’s also continues to pioneer new technologies that are redefining the business of art, including the creation of viewing and bidding experiences that integrate augmented reality, global livestreaming, buy-now channels, and hybrid sales formats.
Christie’s is dedicated to advancing responsible culture throughout its business and communities worldwide, including achieving sustainability through net zero carbon emissions by 2030, and actively using its platform in the art world to amplify under-represented voices and support positive change.
Browse, bid, discover, and join us for the best of art and luxury at: www.christies.com or by downloading Christie’s apps. The COVID-related re-opening status of our global locations is available here.