Christie’s Watch Auctions Net Over $ 3 Million

Christie’s Dubai has announced that sales during its second watch auction in Dubai, which took place on 22 March in Jumeirah Emirates Towers, netted at total of $ 3.09 million (AED 11.37 million), over its estimate of $ 2.9 million.

Bidders from around gathered within the room, on the phone and online to compete for 123 lots. Among the highlights was Patek Philippe’s iconic reference 5971. It is one out of 10 known examples of the timepiece and has a bezel is decorated with 42 baguette-cut emeralds weighing approx. 3.33 carats, fetched the highest price when it sold for $341,000 (AED 1,252,493). Another top-selling lot was Piaget’s lady’s magnificent and rare 18-carat gold, diamond and emerald-set bracelet watch. It sold for $ 149,000 (AED 547,277).

“This season, our second since we re-launched our watch sales here in Dubai, was more than double the size and I couldn’t be happier with the results,” said Frederic Watrelot, Christie’s watch specialist in the Middle East. “The sale was 96% sold and bidding was predominantly from Middle Eastern private collectors with some strong international participation.”

The watches followed the previous night’s stellar sale of modern and contemporary art which realized $10.6 million, making a combined total of $13,745,563 for the sales this spring. Christie’s 16th consecutive sale season in the Middle East, was the first to be held to coincide with Dubai Art Week with 20% of those registered to bid in the sales new to Christie’s.

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