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Sotheby’s Historical Watch Auction Breaches Expectations, from Bidders to Values

The highly anticipated Sotheby’s auction of watches from famous collectors Reginald H. Fullerton Jr. and his grandfather Henry Graves Jr. proved to be a hit yesterday when its grand total sales went beyond the estimated three to five million dollars. It reached an exact value of $8,339,813, selling all 61 lots.

Graves’ Patek Philippe 18k yellow gold tonneau minute repeating wristwatch engraved with the Graves family coat-of-arms led the persistent bidding at a record-breaking $2.99 million (way up from its estimated values of $600,000 to $800,000). Watch dealer Bob Maron, who specializes in vintage Patek Philippes, called this timepiece “the most important watch in the auction” in a pre-event report.

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New York February / March 2014
New York February / March 2014