GENEVA.- Christie's Rare Watches live auction achieved CHF 33,054,441 / US$ 42,309,684, becoming the highest result for any various owner watch auction held at Christie's. A 99% sell through rate by lot and selling 188% above low estimate underscores the current high demand in the watch auction market. In addition, 60% of lots sold above their high estimate.
One of the most anticipated watches of the auction was a 1990 Cartier Crash London, which achieved CHF 1,585,000 / US$ 2,028,800 – tripling its low pre-sale estimate and setting the new world auction record for the model. This timepiece is distinguished by its crisp, heavy gold case and matching gold 'Crash' deployant clasp, both of which have full Cartier London signatures.
The top lot was an exceptionally rare F. P. Journe Platinum Tourbillon Souverain, Ref. T, achieving CHF 2,439,000 / US$ 3,121,920 (realising five times its low estimate). Introduced at Baselworld in 1999, the piece was consigned to auction by the family of the original owner, having been purchased on Christmas Eve in 2000.
The auction drew lively participation, with global bidders active in the room, on the phones, and online – 44% of clients came from EMEA, 19% from Asia Pacific, and 28% from the US. 30% of bidders and buyers were new to Christie's.
Remi Guillemin, Head of Watches, Europe and Americas comments: “For the first time, Christie's Geneva presented its Rare Watches sale over two consecutive days, highlighting the strong confidence consignors continue to place in our global watches team. Achieving a sell-through rate of 99%, the sale successfully engaged an international clientele, with 30% of participants new to our collecting category. We were thrilled to establish new world auction records for a vintage Audemars Piguet chronograph, which realised CHF 2,134,000 / US$ 2,747,696, as well as for a 1990 Cartier Crash London, which achieved US$ 2,028,800, surpassing the auction record set for the model earlier this spring. Throughout the sale, collectors demonstrated exceptional enthusiasm, reaffirming the global demand for extraordinary timepieces and the enduring strength of the watch market.”
Additional sale highlights included a Tiffany Blue® Nautilus Patek Philippe Ref. 5711/1A-018, selling for CHF 1,270,000 / US$ 1,625,600. The model was created in 2021 to mark the 170th anniversary of the collaboration between Tiffany & Co. and Patek Philippe, in an edition of only 170 pieces. Another Patek Philippe, Ref. 3970EP-047 and featuring a stunning black monogram dial, was commissioned by the well-known American collector Michael Steven Ovitz, achieving CHF 1,016,000 / US$ 1,300,480 in the Geneva sale room (both pieces illustrated below).
Alongside established brands, other names continue to see demand amongst the watch collecting community active in the secondary auction market. Introduced in 1994, the A. Lange & Söhne Tourbillon Pour le Mérite Ref. 701.005 was a limited edition of 200 pieces, selling for CHF 762,000 / US$ 975,360 (illustrated below). Also on offer was a Lange 1 Tourbillon, the first wristwatch in history to combine a tourbillon with a progressive power reserve indicator, realising CHF 723,900 / US$ 926,592.
Additionally a Daniel Roth stainless steel limited edition double sided Tourbillon wristwatch with date and power reserve indication, circa 1990, sold for CHF 406,400 / US$ 520,192. A striking and innovative stainless steel limited edition wristwatch by Krayon, with date, month, 24-hour and sunset/sunrise indication, Ref. c030, achieved CHF 158,750 / US$ 203,200.
