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May 21, 2012updated Feb 06, 2013

Patek Philippe World Time Goes for $1M-plus at Antiquorum’s May Auction

By Pardhasaradhi Gonuguntla

Geneva, Switzerland – Reported by Elite Traveler, the private jet lifestyle magazine

Antiquorum’s May 13 auction of “Important Modern & Vintage Timepieces, Featuring the 40th Anniversary of the Audemars Piguet Royal Oak” totaled CHF 7,466,737 with 148 % sold by value. This brought the total of Antiquorum spring sales in Geneva to 13,766,737 CHF

Lively bidding for the collection of 469 modern and vintage timepieces was seen in the room as well as on the phone and internet. Bidders participated from all corners of the globe including from Hong Kong, Taiwan, The Russian Federation, Germany, the United States as well as Switzerland.

The top lot of the sale was the Patek Philippe Ref. 2523 “World Time” (lot 469). The extremely rare 18K gentleman’s wristwatch with guilloche dial sold for an impressive 1,190,500 CHF, over twice is low estimate. Further illustrating rare Patek Philippe timepieces are in great demand by collectors, the Patek Philippe Ref. 2526 with black dial (lot 465) was acquired for CHF 86,500.

“Today’s remarkable result for the Patek Philippe World Time with guilloche dial is clear confirmation that the market is increasingly focused on pieces of the highest quality produced by the world’s most respected and recognized brands,” said Julien Schaerer, Managing Director, Antiquorum Geneva.

www.antiquorum.com

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