May is one of the hottest months when it comes to timepiece auctions, with all of the big Houses — Christie's, Sotheby's, Philipps and Antiquorum — hosting important sales. The results of some of those sales are in and they reconfirm 10-fold the fact that watches are a great investment.
Here are some highlights:
Christie's, at its Rare Watches sale, set world records with the Charles-Louis Havas Breguet et Fils Pocket watch, which sold for more than $3.3 million (157 percent above its estimate). This sale made the Breguet the most expensive watch of the spring season for Christie's, and also marked the second most expensive Breguet et Fils watch ever sold at auction. At the same auction, a Patek Philippe chronograph (Ref. 530) with a rare stainless steel sector dial, circa 1938, sold for just about $1.2 million.
Over at Phillips Auction House, where several different auctions took place over a three-day period, more than $33 million in merchandise was sold. A highlight for Phillips was the thematic "Start-Stop-Reset" auction of stainless steel chronographs. During this sale, the auction house beat its own world records for Rolex watches sold at auction. Additionally, Phillips sold six watches for more than $1 million each.
The top lot at that sale was a very rare Rolex stainless steel split-seconds chronograph, circa 1942. Reference 4113 is one of just 12 watches ever made by the brand for a select group of racing teams and drivers. That watch fetched triple its estimate and sold for $2.45 million.
Even some little-known brands took center stage. For instance, at the Antiquorum auction an Urban Jurgensen sold for 12 times its estimate, bringing in approximately $800,000. What are you waiting for? Stop in and see our watch collection.