Christie’s Important Watches Spring Sale achieved HK$ 167,906,000 (US$ 21,626,293), making this spring season the most valuable season for watches ever achieved by an international auction house in Asia. These strong sale results underscore the vibrant market for collectible watches of superlative quality and reaffirm Christie’s position as the worldwide market leader for collector’s timepieces.
Sam Hines, Specialist Head of Department, Asia commented, “This season’s sales of Important Watches realized HK$ 167,906,000 (US$ 21,626,293), with an overall sold rate of 89% sold by lot and 92% sold by value. Of the sold lots, 53% sold for over their initial high estimate, one lot sold for over HK$10,000,000 (US$1,288,000), two lots sold for over HK$5,000,000 (US$644,000) and forty-one lots sold for over HK$1,000,000 (US$128,800). The sales drew nearly 1,000 bidders from over 40 different countries, bidding intensively on-site, via phone, via written bid and also online. Christie’s Live is an increasingly important channel for our collectors, and this sale drew a large international audience. Buyers from over 30 countries vied against one another on Christie’s online platform. The top ten lots were sold to 9 different clients hailing from 8 different countries. The success of Christie’s Geneva and Hong Kong watch sales have brought total of US$54,000,000, setting the international standard for the auction arena in category of fine watches.
The three collections offered in the Important Watches sales realized in excess of HK$38,000,000 (US$4,894,400), reaffirming Christie’s position as the first choice of watch collectors’ regarding the consignment of their prized watch collections. The strong results of the sales confirm the continued growth and overall sophistication of the market for luxury watches, with buyers vying for rare timepieces of top quality. This demanding appetite for collecting is indicative of the impressive breadth and depth of the market. We greatly anticipate our New York sales next month on June 13, the last watches sale of the season.”