Christie's makes rare watch sales

First published: 14-05-2009

The Patek Philippe timepiece automatically adjusts to the leap year and had been valued at between one million and 1.5 million Swiss Francs (£595,000 to £892,000).

Another Patek Philippe sale at the Geneva watch auction also caught buyers' attention.

The rare chromed nickel watch was sold to a Swiss Private Museum for 1.9 million Swiss Francs (£1.3 million) - nearly four times its estimated value.

Five other Patek Philippe watches were sold at the auction.

Commenting on the event, international co-heads of Christie's watch department Aurel Bacs and Tim Bourne said the result underlined the effectiveness of the auction house as a means to sell rare watches.

They said: "A well attended sale attracted a significant number of registrants (764) and generated bidders from all of the world throughout the day.

"The sale also offered one of the largest selections of Rolex watches seen at auction in recent years, resulting in over 90 per cent sold by lot and setting numerous new auction world records."

Christie's will be holding its next watch auction in Hong Kong on May 27th.

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