Worldwide watch collectors spent over US$15 million at the 2012 Hong Kong Autumn Sale, which is the highest ever total for a various-owner sale of Important Watches at Sotheby’s. A high sold rate at the prestigious auction was followed with 20 lots that surpassed HK$1 million (US$130,000), while over 60% of the items reached the price above their high estimates.
A top sale at the SOTHEBY’S Hong Kong Important Watches Autumn Sale 2012 achieved HK$10.52 Million (US$1.35 Million). It is Patek Philippe Sky Moon Tourbillon Platinum Wristwatch Ref. 5002P, with 12 complications, which was previously estimated at HK$8 – 12 Million (US$1.03 – 1.54 Million). Another Patek Philippe’s masterpiece – Minute Repeating Perpetual Calendar Wristwatch Ref. 5104 made the record, reaching the price of HK$4.94 Million (US$630,000). Its estimated price went from HK$4 to 5 Million (US$510,000 – 640,000).
Speaking about the remarkable results of the Hong Kong’s sale, Charles Tearle, Sotheby’s Head of Watches in Asia noted that the excellent offering of “desirably-estimated, highly complicated timepieces“, attracted record worldwide audience, not only from China, but also from Europe and the USA, leading to the highest total.
“The sale achieved a high sold rate both by lot and by value, with a high average lot value of over HK$320,000 (US$41,000)”, said Charles Tearle, announcing the highly anticipated sale of George Daniels’s Horological Collection at Sotheby’s London, in November.