30th March 2020 – Sotheby’s Watch Division is to launch new weekly online auctions from 1st April, complementing its existing calendar of sales. The rolling sale format, with a new selection of watches being unveiled every seven days, will offer a fast and dynamic format for collectors to sell and buy watches.

The new weekly sales will provide great responsiveness to trends in the market and more ways for sellers to offer their property. They are also in tune with the increased confidence from collectors in buying important watches online. Sotheby’s digital offering is rapidly growing and this innovative format is a further development in the company’s wider strategy of constantly exploring new ways to connect with watch collectors and respond to this evolving market.

Sam Hines, Worldwide Head of Sotheby’s Watches said: “This move is grounded in countless conversations with clients over the course of recent months, and has only been reaffirmed by feedback received in recent weeks as a result of the current environment. Collectors are looking for more flexibility and a swifter turnaround between appraisal and sale. They are also increasingly confident to buy important pieces online. This was demonstrated last week, when we set a new record for a watch sold online at Sotheby’s (CHF 162,500 for a Rolex Paul Newman 6262). These new weekly online sales perfectly complement the calendar of live sales and other online auctions already planned for the rest of the year and fits naturally with our desire to provide the very best conditions for sale within a passionate and dynamic market.”

Josh Pullan, Global Managing Director of Sotheby’s Watches added: “We’ve seen our online business move from strength to strength since its launch in 2016 and we believe that now is the time to unveil the next iteration of this format. With weekly online auctions, we can prepare, inspect and offer watches for sale almost instantly using our digital capabilities and provide swift services to buyers and sellers.”

The new format will be launched on Wednesday, 1 April, with a selection of 19 stunning Rolex wristwatches and rare pieces by Audemars Piguet. Bidding will be open for 7 days, before a new selection is revealed on Wednesday 8 April, and each Wednesday thereafter (see calendar below). Highlights in the first sale include a rare Rolex Daytona, reference 6263 in stainless steel, made for Mohammed Bin Rashid Al Maktoum, circa 1975 and featuring the highly collectible UAE Quaraysh Hawk dial (est. HKD 1.6-2.4m / USD 206,400- 309,500), and a Rolex Paul Newman Daytona, reference 6241, circa 1968 (est. HKD 1-2m / USD 129,000 – 258,000).