GENEVA.- Exceptional results were achieved today in Christie's Rare Watches at the Four Seasons Hotel des Bergues, with the live auction realising CHF 47,824,592 / US$ 58,703,706. This represents a 221% increase versus previous year with a 100% sell through rate and selling 250% above low estimate. Global interest was strong, with registrants from 66 countries participating in the sale. The high-energy auction unfolded over more than 8 hours, including the charity component, Watches for ELA. 19% of bidders were new to Christie's, while 40% of registrants were Millennials and Gen Z.
Independent Watchmakers and Collections
Independent watchmakers once again proved to be a driving force. Of the 44 watches offered in the sale, seven were unique pieces, with every lot selling within or above its high estimate.
Leading the category was a complete F.P. Journe Ruthenium Collection, comprising five matching watches, all numbered 92/99, formerly from the collection of Michael Schumacher. Offered to commemorate the 30th anniversary of the Formula 1 legend's association with Scuderia Ferrari, the pieces were presented as individual lots alongside their original presentation box. The highest-selling lots within this Ruthenium set were the Tourbillon Souverain and the Chronomtre a resonance, both achieving CHF 1,536,000 / US$ 1,885,409 respectively.
Another highlight was the rare full trilogy of F.P. Journe Vagabondage I, II and III watches in pink gold. All three examples, which share matching numbers, were bought by the same private collector, achieving a combined total of CHF 6,709,200 / US$ 8,235,406.
To celebrate its 25th anniversary in 2019, A. Lange & Shne released a series of 10 special anniversary editions within the year. Acquired by a single collector at the time of release, all 10 models have remained together ever since, and were offered in the sale as a complete set. Leading the selection was the Lange 1 Tourbillon, achieving CHF 524,800 / US$ 644,181.
Vintage Watches
Vintage and neo vintage watches were once again in demand, led by Patek Philippe's reference 1518. Introduced in 1941, it holds a landmark place in horological history as the world's first serially produced perpetual calendar chronograph wristwatch, realising CHF 1,075,200 / US$ 1,319,786.
Offered at auction for the first time, was the exceptionally rare 18k gold automatic Patek Philippe Nautilus 'Khanjar' model, Ref.3700/1 wristwatch, made in 1978 for His Majesty Sultan Qaboos bin Said al Said of Oman. Among the rarest and most elusive of all vintage gold Nautilus watches, it achieved CHF 1,024,000 / US$ 1,256,939.
Remi Guillemin, Global Head of Watches, Christie's, commented: “What a sale. These exceptional results reflect the breadth and vitality of the rare watch market, with particularly strong demand for independent watchmakers, alongside impressive participation from a new generation of bidders and buyers – 19% of bidders were new to Christie's, while 40% of registrants were Millennials and Gen Z. The consistency of demand we have seen across our watch auctions this year speaks to the continued strength and diversity of the market. We were delighted to welcome back Watches for ELA for its second edition, supported by 20 watch brands and Zinedine Zidane, bringing together the watchmaking community for an important cause. The enthusiasm demonstrated throughout this sale speaks to the depth and diversity of today's market, and we look forward to building on this momentum with our upcoming Rare Watches auctions in Hong Kong and New York.”
Watches for ELA
Twenty watch brands, alongside Zinedine Zidane's Cartier Pasha, generously contributed timepieces to benefit ELA International, raising a combined total of CHF 501,400 / US$ 615,458 (hammer). The sale celebrated horological creativity and craftsmanship, with a particular spotlight on the exceptional talent and savoir-faire of independent watchmakers.
Guy Alba, President of ELA International, remarked: “Today's Watches for ELA results at Christie's underline the incredible support of the watchmaking world for our cause. I sincerely thank the independent watchmakers and major watch houses who generously entrusted us with unique pieces, as well as Christie's. Zinedine Zidane's Cartier Pasha was a particular highlight, bringing together the watchmaking heritage of this iconic piece with the human and symbolic significance of our cause. These results are a brilliant example of what generosity can achieve.”
