MOST EXPENSIVE WATCH SOLD IN THE MIDDLE EAST CHRISTIE’S AUCTION……

WATCHES ONLINE: THE DUBAI EDIT

EXCEEDS SYMBOLIC $10 MILLIONCEILING FOR A

WATCHES ONLINE AUCTION

 HIGHEST TOTAL FOR ANY WATCHES ONLINE SALE WORLDWIDE

TOTAL: $14,120,250

89% SOLD BY LOT | 100% SOLD BY VALUE

131% HAMMER ABOVE LOW ESTIMATE

ACHIEVES RECORDS FOR:

MOST EXPENSIVE WATCH SOLD IN THE MIDDLE EAST

CHRISTIE’S AUCTION RECORD FOR ANY WATCH SOLD ONLINE

WITH THE PATEK PHILIPPE SKY MOON REF. 5002P-001

SELLING FOR $1,590,000

Watches Online: The Dubai Edit (24 March-8 April 2021) achieved a total of $14,120,250 with 89% sold by lot, 100% sold by value, and 131% hammer above low estimate. This exceptional result doubles the previous record for any Christie’s watches online auction, set in December 2020 in New York at $7,743,370. There was global participation from 37 countries with a total of 558 registrants. This sale has expanded its reach by welcoming participants from 13 new countries for the first time, including Norway, Darussalam and Uganda. Building on the outreach of digital and its 24/7 availability combined with the convenience of a physical viewing in accordance with local covid-19 regulations in the DIFC in Dubai, the sale attracted more than 30,000 visitors online,whilethe appointment only preview exhibition in the Dubai Christie’s office wasfully booked throughout the two weeks.

The top lot of the sale wasPatek Philippe’sSky Moon Tourbillon Ref. 5002, one of the most important watches ever made in modern history. It sold for $1,590,000, setting two new records simultaneously, as the most expensive watch sold at auction in the Middle East plus the new auction record for any watch sold online at Christie’s, previously standing at $600,000 (December 2020 for a ref 1462 by Patek Philippe),established in March 2018 when the Patek Philippe ref 1518 once owned by King Farouk of Egypt sold for $912,500. 

The Sky Moon Tourbillon Ref. 5002was inspired by the Star Caliber 2000, a double-sided pocketwatch built to commemorate the new millennium, and boasts a whopping 12 complications with a movement made up of 686 parts. The complications include the tourbillon, perpetual calendar, moon age, leap year cycle, day of the week, month, date, fly back, minute repeater, sky chart, moon phases and orbit.The reverse dial reveals the angular progression of the stars and moon from the Northern Hemisphere and allows the wearer to observe the waxing and waning of the Earth’s satellite.

Remy Julia, Head of Dubai Watches Department and in charge of the Dubai Edit auction, commented,“These very strong results of the sale demonstrate the continued strength of Christie’s online platformand its ability to reach the broadest possible global audience, establishing the highest value online watches sale ever offered at Christie’s.  Additionally, this sale was the first Christie’s online auction to offer a timepiece with an estimate of over $1,000,000 and we are delighted that the Patek Philippe reference 5002sold for $1,590,000, setting a new record for a watch sold online at Christie’s and for any watch sold at auction in the Middle East. This sale reinforces Christie’s online-first strategy and the strong appetite of our collectors from around the world. The sale opens the watch season 2021 on a very high leveland will be remembered as one of the most exciting for Watches at Christie’s and the entire industry.

Notable Results from the Watches Online: The Dubai Edit | 24 March to 08 April 2021

Other noteworthy results included two GéraldGenta watches (lot 127 and 128) as well as a Patek Philippe ref 2499 3rd series, representing the most competitive watches of the sale, receiving immense interest and bids from around the globe. Lot 128, La Grande Sonnerie No.1, in platinum ref G0025.7 by GéraldGenta was estimated at $30,000-40,000 and sold for $500,000, while lot 127, a yellow gold Grand Sonnerie No.3 by Genta achieved 10 times its low estimate, selling for $300,000. Lot 161, the Patek Philippe ref 2499, 3rd series sold also for $300,000. Another Patek Philippe, this time ref. 5104P, a platinum and gold minute repeater with perpetual calendar, made in 2009, sold for $750,000, and lot 136, a rare 1952 steel Rolex, triple calendar chronograph Snow Compax, ref 6036, tripled its pre-sale estimate and found a new owner at $350,000.

GÉRALD GENTA, A PLATINUM GRAND SONNERIE, No. 1, REF. G0025.7Sold for $500,000

GÉRALD GENTA, A UNIQUE YELLOW GOLD GRAND SONNERIE, No. 3, REF. G0025.7Sold for $300,000

PATEK PHILIPPE, REF. 5104P, A PLATINUM AND GOLD MINUTE REPEATER PERPETUAL CALENDAR

Sold for $750,000

ROLEX “SNOW COMPAX” REF. 6036, A RARE STEEL TRIPLE CALENDAR CHRONOGRAPH

Sold for $350,000

Christie’s International Auction Calendar and Results Overview Watches 1H2021

SiteSale No.Sale NameChannelStart/FinishREUSLTS
New York19943Watches OnlineOnline09Mar to 23 MarchUS$2,335,250 96% by lot 100% by value
Hong Kong19859Watches Online: An Important Asian Collection VIOnline22 Mar to 1 AprilUS$1,098,466 100% by lot 100% by value
Dubai18800Watches Online: The Dubai EditOnline24 Mar to 8 AprilUS$14,120,250 89% by lot 100% by value
Hong Kong20467Watches Online: A Private Collection Part IIOnline09 Apr to 19 April
New York20481Rare Watches New York: OnlineOnline16 Apr to 26 April
Geneva20030Watches Online: Geneva EditOnline04 May to 18 May
Geneva20024Rare WatchesLive10 May
Hong Kong20524Watches Online SaleOnline19 May to 02 June
Hong Kong19858Important Watches (Day & Evening sales)Live22 May
New York19945Watches OnlineOnline08 June to 22 June

Press Contact | Alexandra Kindermann | +41 79 101 4196 | akindermann@christies.com

About Christie’s  

Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Founded in 1766 by James Christie, Christie’s has conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful.Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s also has a long and successful history conducting Private Sales for clients and online sales are offered year-round across all categories. Christie’s global presence is spread across a network of international salerooms and 61 representatives and offices. Christies.com provides detailed articles and videos on the objects offered for sale alongside the latest advances in digital viewing tools to make Christie’s accessible to all.

*Please note when quoting estimates above that other fees will apply in addition to the hammer price – see Section D of the Conditions of Sale at the back of the sale catalogue.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and are reported net of applicable fees.

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