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Christie’s wraps 2016 watch auctions in exceptional fashion

Christie’s closed out a year that saw uncertainty in both the retail and vintage watch markets with a resounding bang, bringing in more than $US8.5 million (about $A11.36 million) at its Rare Watches Including Nautilus 40 Part IV sale held on December 6 at Rockefeller Plaza in New York City.

The top lot from the sale was an 18-karat pink-gold Patek Philippe ref. 5074R, an automatic wristwatch with minute repeater and perpetual calendar complications (above) that sold for a remarkable $US511,500 (about $A683,500) — just shy of its pre-sale high estimate.

rolex-stainless-steel-triple-calendar-chronograph-watch

Another highlight from the auction, however, left its pre-sale estimate in the dust when a stainless-steel triple-calendar chronograph Rolex ref. 6037 sold for $US499,500 — a truly astonishing $400,000 more than expected.

patek-philippe-stainless-steel-automatic-watch

The sale also marked the conclusion of Christie’s multi-auction thematic section commemorating the 40th anniversary of Patek Philippe’s Nautilus. All 10 examples that were brought to the block sold for higher than their estimated price.(christies.com)

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