'Demand for collectible watches is back to pre-recession numbers'

paulfrasercollectibles

2015-06-26 11:40:07

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'Demand for collectible watches is back to pre-recession numbers'

So says the chairman of Antiquorum - its September auction netted an incredible $9m, including two Patek Philippe record breakers

Antiquorum's New York sale on September 17 has caused a tremendous buzz in watch collecting circles.

TheImportant Collectors' Wristwatches, Pocket Watches & Clocks sale inspired highly charged bidding wars and the 414 lots netted a total of $9,214,974.

Notable international bidding came from countries such as Italy, Turkey and Hong Kong. Strong prices were achieved resulting in 85% sold by lot and 133% sold by value.

"The exceptional outcome for our September auction is a clear indication that the market for rare and collectible timepieces is thriving.

"As the world economy is showing signs of recovery, the demand for collectible wristwatches appears to have recovered to pre-recession numbers," said Robert Maron, Chairman of Antiquorum.

The auction included two recording breaking sales from Patek Philippe, with the sale of their Ref. 5016 and Ref. 3939 watches for $178,000 and $684,000, respectively.

Elsewhere, a Seiko worn in space by explorer Richard Garriott sold brought an incredible $45,600; and a watch given to Marlon Brando by Zsa Zsa Gabor sold for $18,000, six times its estimate.

Asteel Omega chronograph produced in 1942 sold for $36,000 while the Omega "Speedmaster" attained $45,600.

"We are delighted by the outcome for today's auction," said Julien Schaerer, Watch Director & Auctioneer, Antiquorum USA.

"We are particularly pleased by the results achieved for Patek Philippe timepieces signed by major retailers as well as all original early Omega wristwatches."

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