HONG KONG.- History was made on Friday at Sotheby’s Hong Kong as its Important Watches auction achieved a record-breaking HK$414.2 million / US$52.9 million, marking the highest total ever realized for a watch sale at Sotheby’s and the most valuable watch auction ever held in Asia at any auction house. Central to this landmark result was the debut of The Shapes of Cartier: The Finest Vintage Grouping Ever Assembled, the largest and most comprehensive collection of vintage Cartier watches ever presented at auction. The 82-piece ensemble achieved a combined total of HK$108 million / US$13.8 million, more than seven times its pre-sale estimate with 100% of lots sold.

Leading the sale was a rare yellow-gold Cartier London Crash, circa 1987, which, over the course of a nine- minute bidding battle amongst collectors online, on the phones, and in the room, more than doubled its pre- sale estimate to achieve HK$15,616,000 / US$1,993,539 (Est: HK$3,200,000-6,000,000 / US$400,000- 750,000). Acquired by a Japanese private collector, the result set a new record for the most valuable Cartier wristwatch ever sold at auction. While exact production numbers remain unknown, estimates suggest that fewer than a dozen of the original London Crash watches were produced between 1967-1970, making them among the rarest and most sought-after Cartier timepieces today. This example, dating from 1987, is believed to be one of only three produced that year.

Records were also set for two Cartier Tank models, including a white‑gold London Tank J.J.C. Allongée, circa 1992, which surpassed expectation, selling for HK$5,760,000 / US$735,322 (Est: HK$320,000–480,000 / US$40,000–60,000); and a London Tank Normale circa 1967–68, which achieved HK$4,608,000 / US$588,257 (Est: HK$240,000–400,000 / US$30,000–50,000). A record was also established for the Baignoire, as a London example from circa 1973–74 fetched HK$4,864,000 / US$620,938 (Est: HK$400,000–550,000 / US$50,000–70,000).

A total of over 15 bidders vied for a highly unusual yellow gold Cartier London Asymmetric with blue enamel, pushing the final price to HK$6,656,000 / US$849,705 – more than ten times its presale high estimate (Est: HK$400,000 - 650,000 / US$ 50,000 – 82,000). Created in 1973–74, the watch dates to the closing chapter of Cartier Bond Street’s most experimental era. Exceptionally rare, research has identified only five known Cartier London enamel watches from this era. Another form watch also surpassed expectations, as a very fine and exceptionally rare Cartier Paris oval-form skeletonised wristwatch in yellow gold – estimated at HK$400,000 – sold for an extraordinary HK$7,424,000 / US$947,748.

Form watches offered with no reserve attracted fierce bidding, including an unusual yellow gold purse watch in the form of a walnut which soared to sixteen-times its high estimate at HK$960,000 / US$122,554 (Est: HK$40,000 - 60,000 / US$5000 - 8000) and a yellow gold and black enamel Art Deco clip watch, which sold for ten-times its high estimate at HK$768,000 / US$98,043 (Est: HK$55,000 - 80,000 / US$7000 – 100,000).

The masterpieces on offer in this landmark collection trace a century of technical ingenuity and artistic exploration, underscoring Cartier’s unparalleled ability to redefine the form and function of the wristwatch. Additional highlights from the collection will be presented across Sotheby’s Important Watches auctions in Geneva and New York in Spring 2026.

Key Facts & Figures

● Sale total: HK$414,232,320 / $52,880,898 (Est: HK$203.2 - 387.7 million / US$25.9 - 49.5 million) – highest total for a watches auction at Sotheby’s, eclipsing the previous record of $42.8 million set in December 2025

● The Shapes of Cartier: The Finest Vintage Grouping Ever Assembled, totals HK$108 Million / US$13.8 Million (Est: HK$15 - 23 million / US$1.9 – 2.9 million), with 100% of lots sold.

● 5 lots sell over $1 million

● 97% of all lots found buyers, with more than half of lots selling above the high estimate

● Global participation, with bidders from more than 50 countries

● Average bidders per lot: 8

● 6 records were set: Cartier London Crash, London Tank J.J.C. Allongée, London Tank Normale, Tourbillon Pour le Mérite, reference 701.007, Daniel Roth Tourbillon Skeleton, and Patek Philippe Ref. 2552 ‘La Maison Platine’

“We are thrilled to have achieved the highest total ever realized for a watch auction in Asia, with a series of world auction records set this evening, including new benchmarks for a Cartier wristwatch and the A. Lange & Söhne Tourbillon Pour le Mérite, Reference 701.007. While the Cartier timepieces were the undeniable centerpiece, what proved equally exciting was the exceptional depth of bidding across both vintage watches and independent makers. With 97% of lots sold and more than half exceeding their high estimates, the result underscores the continued strength of the market and our leadership in the region." --- Joey Luk, Global Head of Watch Collections Sourcing & Sales, Sotheby's

Further Highlights from the Sale Included:

● A historically important Art-Deco-inspired Patek Philippe single-button chronograph sold at HK$15,360,000 / US$1,960,858. Produced in 1924 and originally retailed by Tiffany & Co., the timepiece marks the first year of chronograph wristwatch production at the iconic Swiss maison.

● A world record for an A. Lange & Söhne wristwatch was achieved by the Tourbillon Pour le Mérite, reference 701.007. Believed to exist in fewer than 20 examples, the watch sold for HK$10,368,000 / US$1,323,579, far exceeding its estimate of HK$1,200,000–2,400,000 / US$150,000–300,000.

● A world record was set for a Patek Philippe Ref. 2552 ‘La Maison Platine’, widely regarded as one of the manufacture’s most important time‑only vintage wristwatches. Achieving HK$6,016,000 / US$768,003 (est. HK$5,000,000–10,000,000 / US$625,000–1,250,000), the watch was retailed by Cartier New York in 1959 and is one of just nine known platinum examples, unique as the only one confirmed to have been sold by Cartier.

● An auction record was set for Daniel Roth Tourbillon Skeleton, sold at HK$6,784,000 / US$866,045 (Est: HK$1,200,000 – 2,000,000 / US$150,000 – 250,000), became the most valuable Daniel Roth ever sold at auction. A treasure from the mid-90s, the present Tourbillon Skeleton features the classic Daniel Roth's double-ellipse watch case - genuine to the brand's iconic designs.

● The sale was further distinguished by a 100% sold offering of 38 timepieces from ‘The Aficionado Collector’, which achieved a combined total of HK$31,505,920 / 4,022,046. The group was led by a

F.P. Journe lineSport Centigraphe Sport, which sold for HK$3,712,000/US$473,874 (Est: HK$1,200,000 - 3,000,000 / US$150,000 - 375,000).