Geneva’s Important Watches last May once again obtained very strong results. In the category of Watches sold at auction, Christie’s realized an increase of nearly 10% compared to last spring’s sale. Here were two stand out watches that sold above their estimate. But first, here’s an exclusive look at one of Christie’s newest additions in the Private Sales Program:
Patek Philippe Reference 5970: A rare, discontinued Patek Philippe reference 5970, in 18K white gold. Widely considered a modern classic, this perpetual chronograph with moonphase is a wearable investment piece. When the watch was introduced in 2004, retail was $89,000. We have seen prices rise steadily on this model, and we are offering this fine example for $140,000, with no additional fees or buyers premiums.
This Patek Philippe Reference 5970 is available through Christie’s Private Sales Program, where clients buy and sell watches outside of the auction timeline. For more information, please visit Christie’s.
Patek Philippe Reference 1463 ‘Caran d’Ache’ (Lot 181): This 34.5mm Ref. 1463 stainless steel chronograph wristwatch was manufactured by Patek Philippe in 1942, and based on the date of its sale in 1945, it is assumed that its first owner was Arnold Schweizer, founder of Caran d’Ache, the famous Swiss manufacturer of high quality writing instruments. It is signed Patek Philippe & Co. and is accompanied by the original Patek Philippe letter dated June 15, 1995 confirming that the present watch bearing movement no. 863’089 was sold to “Mr. Caran d’Ache”. It was estimated to fetch between $205,153 – $341,922
Final Price Realized: 221,000 swiss francs: This whole year we’ve seen prices rise for the brand, before the bump in values that will most surely happen after our special Patek Phillippe 175th Anniversary Auction, on Nov. 9th. We’ve seen seen a clamoring from investors for Patek Philippe watches, collectors who are saying: “Why wait?” This steel version of the Ref. 1463 is just a fantastic watch. It’s just so hard to find this reference in steel, and that reference is so sporty anyway, so this steel model really lends itself to what that reference is meant for.
A. Lange & Söhne Tourbillon “Pour le Mérite” (Lot 392): This 38.5mm white gold one minute tourbillon wristwatch with chain fusée was manufactured by A. Lange & Söhne in 1998. Number 101 of a limited edition of 150 pieces of the Tourbillon “Pour le Mérite” model in gold, and according to Christie’s it is the only one with a special black silver dial and white rhodium-plated dagger numerals. It was purchased by its present owner, one of A. Lange & Söhne’s loyal clients, in 1998. It was estimated to fetch between $170,961 – $284,935.
Final Price Realized: 437,000 swiss francs: That watch did really well, double our estimate. A. Lange is such a great brand and what is happening is that collectors are realizing this now. The brand is finally getting its due. The prices had never been so strong with Lange, but watch fans are now realizing how few watches they are making, and so how special those like “Pour le Mérite,” really are.