Hong Kong – On 27 May, Christie’s Important Watches auction totaled HK$102,888,500/US$13,167,650 with solid sell-through rate of 78% by lot and 79% by value. The saleroom attracted heated global participation from 22 countries across 4 continents via all sale channels.

The final 9 lots of the auction were all Patek Philippe Nautilus models dating from 1978 to 2018, showcasing the development of this sought-after model for the past 40 years. Each lot received fierce bidding and all nine lots sold well, with the last lot of the sale, reference 3700/1, made 1978 trippled its pre-sale estimate and sold for HK$1,375,000/US$175,992 and set a new world auction record for the reference.

The sale offered a large variety of watches made by Independent watchmakers, including MB&F, F.P. Journe, Greubel Forsey, de Bethune and Richard Mille, whose white ceramic and 18k pink gold limited-edition skeletished tourbillon, no. 1 out of 6 sold for HK$5,285,000/US$676,373 and led the section.

Lady’s watches performed very well with a sell through rate of over 80% with the top lot of the section being a bracelt watch with yellow diamonds, a unique piece made by Graff circa 2018 and entitled “Yellow Diamond Triology”. The piece sold for HK$3,725,000/US$476,725.

Another notable result includes the very well performing Rolex offering was led by lot 2474, a Paul Newmna Oyster Cosmograph Daytona, ref. 6263, circa 1969, selling for HK$2,500,000/US$319,950.

John Reardon, International Head of Watches, Christie’s, commented “The solid sale results of this season reaffirm the growing global demand for a comprehensive selection of haute horology and emerging brands’ timepieces. We look forward to continuing the strong buying momentum in our live auction in New York next month, as well as online-only auctions.”