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Thursday, September 15, 2011

Patek and Rolex Take Top Spots in Watch Auction

Patek Philippe ref. 2499 sold for $374,500

A Patek Philippe ref. 2499 led auction results by selling for $374,500 at Antiquorum's September auction of Important Modern & Vintage Timepieces. Made in 1976, the 18k yellow gold wristwatch with round button chronograph, perpetual calendar, and moon phases originated from the collection of professor Thomas Engel.

Patek Philippe Ref. 1436 sold for $284,500.

Other Patek Philippe timepieces that commanded high prices included a ref. 1436 split-second chronograph with transitional dial retailed by Tiffany, sold for $284,500; a ref. 3971 that sold for $116,500; and a ref. 5038, a limited edition white gold perpetual calendar, which fetched $56,250.

The September 14 auction in New York featured 319 collectable timepieces and took in nearly $2.8 million, with 78 percent sold by lot and 119 percent sold by value. It attracted 353 registered internet and phone bidders from around the world, including Hong Kong, China, Taiwan, the Russian Federation, the Netherlands, Canada and the United States.

Rolex ref. 6241 Daytona sold for $110,500

Popular modern and vintage Rolex watches also achieved important results as confirmed by the two examples of the Rolex ref. 6241 offered in the sale. An 18K yellow gold Paul Newman and a 14K yellow gold Daytona retailed by Tiffany & Co. both sold for $110,500.

Rolex Submariner ref. 6538 sold for $76,900

Rolex watches complete with box and papers sold well, including the Rolex Submariner ref. 6538, "James Bond" Big Crown with gilt dial, which sold for $76,900; the Rolex Ref. 1019, which sold for $45,000; and the Rolex. Ref. 1655, which fetched $21,875.

“The outcome for our September auction confirms that Rolex Sports watches continue to generate strong interest among collectors throughout the world,” said Evan Zimmermann, Antiquorum president and CEO.

Audemars Piguet Royal Oak 'City of Sails,' Ref. 25979 sold for $46,250

Perhaps in anticipation of the Audemars Piguet Royal Oak Anniversary in 2012, all Audemars Piguet Royal Oak watches sold well. The top lots included a Royal Oak Perpetual Calendar with anthracite dial, which attained $31,250, and the limited edition "City of Sails" which sold for $46,250.