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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