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27 Nov

Sotheby’s November auction in Geneva

The rare Panerai Ref. 3646 Radiomir which was shown on Sotheby's November auction The rare Panerai Ref. 3646 Radiomir which was shown on Sotheby's November auction © Sotheby’s

During Sotheby’s two-session sale of ‘Important Watches’ in Geneva this month, 83.4% was sold by lot and 87.4% by value. The total result was CHF 7,950,900 (€ 8,373,411). The highlight was a Patek Philippe Ref. 2524/1. The movement of this minute repeater was made in 1954 and it was cased in 1961 in a yellow gold case. The white dial bears the usual words Patek Philippe and Genève, but also Tiffany & Co, making this a unique piece. The watch was sold to a telephone bidder for CHF 542,500, more than double its pre-sale estimate.

(It is interesting that to celebrate the fifth anniversary of the Patek Philippe boutique in Tiffany’s store in New York a men’s and a ladies’ watch, also double signed, will be introduced next year in limited numbers).

Other vintage Patek Philippe highlights were a rare Ref. 2438-1, a perpetual calendar which fetched CHF 278,500, a Ref. 530 sold for CHF 278,500 and a Ref. 3448 (sold for CHF 242,500). Modern Patek Philippe models also did very well. A Ref. 5004 in platinum from 2006 achieved CHF 242,500. Just as young was a white gold Ref. 5102 (‘Celestial’) sold for CHF 188, 500. The very first Ref. 4261, a minute repeater, made by Vacheron Constantin in 1943, achieved CHF 242,500, far higher than the highest pre-sale estimate.

Of special interest were a rare Rolex Daytona ‘Paul Newman’ from c. 1970, which fetched CHF 140,500, and an equally rare Panerai Ref. 3646 Radiomir from c. 1940 with movement ánd case signed by Rolex (sold for CHF 92,500). A pink gold ‘Destriero Scafusa’, made by IWC in c. 2001, achieved CHF 164,500, more than the highest pre-sale estimate.

Geoffroy Adler, Head of Watches of Sotheby’s Europe, commented that the strong results demonstrate that the market is driven by exceptional pieces as collectors ale looking for rare pieces of high quality.

Karel Hubert

Karel Hubert (1949) is the founding editor of 00/24 Horloges and 00/24 WatchWorld and acts as an editorial advisor and contributor to all watch media produced at MotoMax Media.

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