The past few weeks have been a busy time in Hong Kong and New York with auction houses making important sales and setting some world records. Here's a rundown of some of the newsworthy sales in both watches and jewelry.
At the Phillips Auction, in Association with Bacs & Russo, in Hong kong, new records were set for wristwatches. A Patek Philippe sold for $2,537,964 – making it the highest price ever paid for a wristwatch at auction in Asia. The piece was an unknown world time wristwatch with dual crowns.
At Christie's in Hong Kong, an 18-karat white gold partially skeletonized Tourbillon prototype wristwatch built by Greubel Forsey, master watchmaker Philippe Dufour and Michel Boulanger sold for $1.46 million. Also at the Christie's New York Rare Watches and Exceptional Complications auction just a couple of days ago, an extremely rare platinum minute repeater from Vacheron Constantin, circa 1951, was expected to fetch between $200,000 and $400,000. After heavy bidding it sold for $605,000.
So, what to look for when you are buying that new watch you hope will hold its value? Limited editions, one-of-a-kinds, pieces with stone dials and a little more. Stop in any time and talk to our knowledgeable sales staff about what makes a watch collectible.
On another note, jewelry is also a great investment. During the Christies’ Hong Kong Spring Sales of Magnificent Jewels (which realized upwards of $60.6 million overall), the 5.03-carat Aurora Green ring sold for $16.8 million — a world auction record for a green diamond. Chow Tai Fook Jewellery Co. LTD purchased the diamond after heavy bidding by nearly 200 buyers from 19 countries.