NEW YORK, 5 June 2019 – Daryn Schnipper, Chairman of Sotheby’s International Watch Division, and Sam Hines, Worldwide Head of Watches at Sotheby’s, commented: “Fresh to market timepieces of great quality and condition carried yesterday’s auction, which continue to increase in both value and demand over time. From Nautilus sport watches by Patek Philippe to contemporary Rolex wristwatches and an exceptional Cartier comet clock, our top prices demonstrate desire for a diversity of material across our market. Overall, yesterday’s results mark a 36% increase over our most recent sale in New York, with an average sold lot value that is 43% higher in comparison.”

Nate Borgelt, Head of Sale for Sotheby’s Watch Department in New York, said: “The heart of yesterday’s sale was the exceptional estate collection, assembled by a discerning and prescient Midwest collector. We were thrilled to see this fantastic group 100% sold and exceeding expectations, as proceeds will support medical research at Washington University in St. Louis. The two Patek Philippe Ref 2499s that led the auction emerged from this group, illustrating the appetite for rarity, condition and provenance.”

AUCTION HIGHLIGHTS

Yesterday’s auction was highlighted by a collection of 47 timepieces assembled by a discerning Midwest collector, which was 100% sold and achieved $3.3 million – surpassing its $2.6 million high estimate. Proceeds from the group will be used to support medical research at Washington University in St. Louis. The collection included the top timepieces of yesterday’s sale: two rare Patek Philippe Ref. 2499 wristwatches in yellow gold, each made in 1984.

Produced from 1950 until 1985, Ref. 2499 is recognized as one of the most important wristwatches made by Patek Philippe. With only 349 pieces made in total, or an average of only nine pieces per year, it is an extremely rare piece and one that was made with the utmost attention paid to each detail. On offer from the original owner and appearing at auction for the first time, the Ref 2499 Retailed by Tiffany & Co achieved $800,000, exceeding its $500,000 high estimate. To the best of our knowledge, the watch is the only known fourth series Ref. 2499 signed by Tiffany. The second exceptional Ref 2499 fetched $450,000, surpassing its $350,000 high estimate.

Outside of the Charitable Estate, the auction featured a Cartier Day and Night Comet Clock circa 1925 that brought $350,000 – marking a new auction record for a Cartier comet clock. Sold to applause, the clock more than doubled its $150,000 high estimate. Featuring a beautiful night sky theme with gold stars, the example was created by clockmaker Maurice Coüet, who exclusively crafted table clocks for Cartier.

Leading the selection of complicated Patek Philippe timepieces was the Ref 2497R – A Rare Pink Gold Perpetual Calendar Center Seconds Wristwatch with Moon Phases made in 1954, which sold for $412,500. Groundbreaking for Patek Philippe as well as the horological community, Reference 2497 was produced between 1951 – 1963, with less than 200 pieces made, and only roughly 20 of these encased in pink gold.

Contemporary timepieces on offer were highlighted by Audemars Piguet’s Ref 25865BC.OO.1105BC.05, which achieved $250,000 - meeting its high estimate. Combining the iconic Royal Oak with the industry's most desired complications in one Grand Complication timepiece, this magnificent grand complication is impressively housed in an 18k white gold sport case with bracelet, weighing in at nearly 400 grams.

The auction offered a strong selection of both vintage and contemporary wristwatches by Rolex, led by the Ref 6239 'Paul Newman' Daytona dated circa 1969 that sold for $181,250 (estimate $100/150,000). The iconic reference 6239 was introduced in the United States in 1963, and available in the US and Europe until 1969. It was the first model fitted with this exotic dial, later coined the Paul Newman dial, distinguished by its fine square markers. Though widely available at the time, theses dials were produced in smaller numbers and are rarer to find on watches today.

A selection of timepieces by independent makers was led by a Roger W Smith Series 2 Rare Yellow Gold Wristwatch with Power Reserve Indication and Co-Axial Escapement which achieved $162,500 (estimate $100/200,000). In 1987, Smith met master horologist Dr. George Daniels while attending the Manchester School of Horology, and later became Daniels only apprentice. Known as “The Daniels Method”, Smith created stunning timepieces using nothing but his bare hands.