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Sotheby’s Jewellery Watch Auction Sees A Sell-Out In Under An Hour

Sotheby’s sold all 24 items in less than an hour at its first live auction of gender-neutral vintage jewellery and watches, held on 11 April 2024.


The top item of the sale was a Patek Philippe Ref 3290 bracelet watch, ring and necklace set, called Rough Diamonds, created in 1962 by Gilbert Albert, decorated with enamel and pearls. The set sparked a more than six-minute battle between seven bidders, finally selling for CHF 393,700 (around $435,727), over seven times its high estimate, said Sotheby’s.


In total, the auction garnered CHF 1.2 million (around $1.3 million), nearly twice its upper presale price.


Reflecting on the success, Josh Pullan, global head of Sotheby’s luxury division, remarked: “‘Rough Diamonds’ emerged from the aspiration to curate a watch auction that truly resonated with collectors. Tonight’s outcomes, with every single one of the 24 lots acquired by a diverse and enthusiastic pool of buyers, affirm that vision. The pinnacle being the Gilbert Albert-designed Patek Philippe, the epitome of uniqueness and extravagance, claiming the highest value of the evening, underscores the discernible appetite among collectors for avant-garde and boldly distinctive timepieces, presented within a unique narrative.”


Other items that performed well included two Audemars Piguet watches. The first, a Cobra Royal Khanjar from 1985, brought in CHF 165,100 (around $182,724), while a whimsical car-shaped wristwatch in white gold, adorned with diamonds and emeralds from 1995, fetched CHF 107,950 (around $119,474), Both pieces surpassed their anticipated high estimates. Concurrently, a Patek Philippe bangle watch from 1976 exceeded expectations, more than doubling its projected value to reach CHF 63,500 (around $70,279). (Photo courtesy: Sotheby’s)




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