Christie’s in Dubai reported a 100 percent sold sale of its watch sale on Thursday, 19 March. A first for a Christie’s sale in the Middle East after 18 consecutive seasons, the 185 lots offered sold for a combined total of $3,327,188 / AED 1,693,253, with a very rare platinum and 18 carat pink gold Patek Philippe minute repeating perpetual calendar Ref 5104P which sold for $461,000, making it the highest price at the sale as well as the most expensive watch ever sold at auction in the Middle East.
The auction marked Christie’s fourth watch auction held in Dubai and the largest, an indication of the growing interest in fine, vintage and unique watches from a increasing client base within the Middle East.
“This was my first auction for Christie’s in the Middle East and I couldn’t have hoped for a better result for our consignors and our buyers – our first ever 100% sold auction in the Middle East!” said Remy Julia, specialist in charge of the sale. “This fantastic result is a fitting way to begin the celebrations for our 55 years of stand-alone watch sales at Christie’s.”
The sale welcomed bidders from 30 countries in the room, on the phone and with a strong internet presence of half of all registered clients, which accounted for 12.5 percent of purchases of the sale. The top lot bought online was Lot 159 selling for $68,750, above its estimate. In addition, this was the first Christie’s Important Watch auction of 2015, marking the start of the 55th year for the international department.
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