Antiquorum achieved a milestone auction in Hong Kong

. June 18, 2008

Geneva – Following the big success of its last auction in Geneva, today’s Hong Kong auction realized a total of HK$ 36,051,200 (US$ 4,616,716/CHF 4,840,234/EUR 2,997,657). Of the 417 first-class timepieces offered, 112% was sold by value and 72% was sold by lot.

Fierce bidding came from the packed auction room at the Hong Kong Club Building against telephone and more than 300 registered on-line bidders. Apart from the local clientele, buyers came from all over the world as far away as the United States, Russia, Switzerland and Japan.

patek-philippe-watch.jpgExcellent prices were achieved for Patek Philippe wristwatches with the highlight of the sale, lot 411, a White Gold Ref. 5004G, a perpetual calendar split chronograph wristwatch which achieved HK$ 2,551,000 (US$ 326,668,000/CHF 338,963,000) followed by lot 413, a limited edition watch with a Silicon Escape Wheel sold for HK$ 660,000 (US$ 84,516/CHF 87,697) and by lot 372, a 18K yellow gold wristwatch with retrograde perpetual calendar which reached HK$ 516,000 (US$ 66,076/CHF 68,563).

The interest for pocket watches proved very strong. The exceptionally rare pocket watch from Patek Philippe, “Baron Albert Salomon von Rothschild” (lot 417) made in 1868 reached HK$ 780,000 (US$ 99,883/CHF 103,642) followed by the earliest known Patek Philippe watch with an alarm (lot 143) and presented at auction for the first time, which was acquired for HK$ 480,000 (US$ 61,466/CHF 63,780).

There was tremendous interest for pocket watches with automaton, in particular for lot 402, The Forge, attributed to Esquivillon made in 1820 and sold for HK$ 492,000 (US$ 63,003/CHF 65,374) and also for The Violonist (lot 412) made for the Indian market by Charles Reuge that reached HK$ 372,000 (US$ 47,636/CHF 49,429).
Other good results were achieved for lot 403, an Enamel attributed to Louis Rosselet sold for HK$ 396,000 (US$ 50,709/CHF 52,618) and lot 145, a clockwatch with 11 complications made by Ed. Koehn sold for HK$ 420,000 (US$ 53,783/CHF 55,807).

Rolex did very well too with lot 406, the Rolex made for Panerai “Radiomir” acquired for HK$ 720,000 (US$ 92,200/CHF 95,670).

Another top lot of the sale was lot 164, Chronomètre à Résonnance, by F.P. Journe, sold for HK$ 420,000 (US$ 53,783/CHF 55,807).

Fabien Chicha, auctioneer of the sale, commented: “Today’s results once again attest to the strength of the Asian’s market. Considering the continued demand for rare and collectible timepieces in Asia, we can reaffirm that China is becoming one of the strongest market in the world”.

Category: Auction News

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