Mon, May 29, 2023

Art & Auctions
Christie’s Watches hits records in HK sale

Christie’s Watches made history with three live auctions in the past week in Hong Kong, driving the first half sale total for 2023 to HK$443.78 million (US$56.925 million), the highest ever for the category at Christie’s Asia.

The three auctions were: Important Watches — Featuring The Triazza Collection Part II and The Ultimate Collection on May 26, followed by The Masterpiece Auction II From The Triazza Collection on May 28.

An exceptional and historically important Patek Philippe Ref. 2523J ‘Dual Crown World Time’ broke the record for the reference when it reached HK$66.625 million (US$8.546 million) in a standalone evening auction. The wrist watch with 24-hour indication and cloisonne enamel dial depicting the North American map was made in 1955.

Strong participation from 31 countries across four continents across the auctions confirms Hong Kong’s status as a powerful global collecting hub for watches, Christie's said.

Millennials comprised almost 40% of all the new buyers, it said.

Alexandre Bigler, Senior Vice President and Head of Watches, Christie’s Asia Pacific, commented: “It has been a momentous and market-leading year so far for Christie’s Watches in Asia. After breaking the global record back in March for the most valuable timepiece ever sold online, horological history was made yet again with the spectacular standalone sale of a Patek Philippe Ref. 2523J from the magnificent Triazza Collection, reaffirming Christie’s strength across both live and online watch auctions and in selling the most prestigious single-owner collections.

"The demand in Asia for rare and exceptional timepieces continues and we very much look forward to presenting more exquisite timepieces to global connoisseurs and enthusiasts throughout the rest of the year.”

The sale also made other world auction records for the following references:

• Lot 2288 - F P Journe, Chronomètre à Résonance Model, Ruthenium Limited Edition of 99 Pieces - HK$8.190 million

• Lot 2289 - F P Journe, Tourbillon Souveraine Model, "China 2010” Limited To 5 Pieces - HK$9.45 million

• Lot 2332 - Patek Philippe - Ref. 1595 - HK$9.45 million

• Lot 2360 – Patek Philippe - Sky Moon Tourbillon Model, Ref. 5002R-014 - HK31.835 million

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