Dec 11, 2009 10:00:16 AM
Review Antiquorum New York
Patek Philippe Ref. 3974 Sets New World Record at Antiquorum Auction
Antiquorum held an extraordinarily successful end of the year sale “Celebrating 35 Years of Making History in Time” on December 9th at its’ US headquarters in New York City with sales totaling an astounding $9,237,600. An impressive 85% were sold by lot and 135% sold by value based on the low estimates. The auction room was filled to capacity with collectors and dealers alike aggressively bidding on the 402 exceptional vintage and modern timepieces, particularly the extremely rare and highly sought after Patek Philippe ref. 3974 as well as the Rolex Double Red Sea Dwellers formerly owned by renowned world record holding ‘Comex’ divers, Patrice Chemin and Robert Gauret. The highly competitive bidding for these and other exceptional watches came from countries across the globe, including China, France, Italy, Germany, Martinique, The Middle East and The United States.
The star lot of the sale was the outstanding 3-dial Patek Philippe ref. 3974 in Platinum. Bidders eagerly competed for the magnificent timepiece ultimately selling for the world record price of $1,200,000 after intense worldwide competition in the auction room including telephones, and Internet bidders. Many other fine examples of Patek Philippe timepieces sold exceptionally well. Notably, the Patek Philippe ref. 5101P “Ten Days Tourbillon” retailed by Tiffany & Co obtaining a remarkable $295,200 and the Patek Philippe ref. 3450 with crystal display case back achieving a noteworthy $270,000. Equally important was the Patek Philippe ref. 3970 in platinum that brought an impressive $168,000.
[caption id="attachment_922" align="aligncenter" width="525" caption="Sold for world record price: Patek Philippe ref. 3974 in Platinum with 3 dials"][/caption]
“We are thrilled by today’s results which wind up 2009 with a record breaking year end total of over $31 million in U.S. sales, figures which would have seemed unfeasible just a few years ago. Our steady growth has proven that the market for collector’s watches in the United States is unquestionably a mature and integral part of the worldwide market,” said Evan Zimmermann, President & CEO of Antiquorum.
Vintage Rolex sport watches were also in great demand at Antiquorum’s final sale of the year. Particularly the Rolex ref. 1665 ‘Physalie VI’ Double Red Sea-Dwellers tested by the renowned divers, Patrice Chemin and Robert Gauret during their world record dive Physalie VI (in a hyperbaric chamber at 2001 feet) achieved exceptional prices. Mr. Chemin’s Double Red Sea-Dweller obtained an extraordinary $162,000 (six times its’ estimate) and Mr. Gauret’s Double Red Sea-Dweller sold for a remarkable $144,000 (five times its’ estimate).
Other Rolex watches also attained spectacular results; the Rolex ref. 6234, with exceptional black dial bringing $182,400 while the Rolex ref. 1680 ‘Comex’ attained a noteworthy $130,800. In addition, the Rolex ref. 6102 ‘Bombay’ with an extremely rare blue enamel dial, in great demand by collectors worldwide, achieved $56,400. Moreover, the Rolex DeepSea ref. 116660 ‘Pro- Hunter’ sold for an extraordinary $33,600.
“The impressive outcome for Patrice Chemin’s and Robert Gauret’s Double-Red Sea Dwellers confirm that collectors in today’s market are looking for prestigious timepieces associated with important historical events. Not only are these watches of unquestionable provenance, but they will also forever be linked to their renowned world record dive, adding immeasurably to their value and desirability,” said Julien Schaerer, Watch Director & Auctioneer, Antiquorum.
Finally, Vacheron Constantin obtained excellent results as well. The Stainless Steel Vacheron Tonneau Tourbillon sold for a surprising $135,600 and the Vacheron Constantin Malte Prepetual Calendar and Minute Repeater in pink gold achieved an excellent result of $216,000.
The extraordinary results achieved throughout our 35th anniversary year confirm that despite this year’s global economic recession, Antiquorum continued to achieve unparalleled results—including 9 new world records for timepieces sold at auction. Proving once again that we remain the most important and outstanding auction house in the world specializing only in the field of horology. I can assure you that we have no intention of resting on our laurels, we will strive for even greater success in 2010 by continuing our relentless pursuit of Antiquorum’s core values: innovation, transparency and excellence,” said Robert Maron, Chairman Antiquorum.
The “Top Lots” for Antiquorum’s December 9th auction are as follows:
Patek Philippe Ref. 3974 Platinum Patek Philippe & Cie, Genève, Ref. 3974. Made in 1999, sold June 29th, 2000. Extremely fine and rare, astronomic, minute repeating, self-winding, platinum wristwatch with perpetual calendar, leap year indication, moon phases.
Sold including buyer's premium: $1,200,000
Patek Philippe Ref. 5013 Platinum Patek Philippe, Genève, Ref. 5013. Production of this reference started in 1992. Extremely fine, rare and important, tonneau-shaped, minute-repeating, astronomic, self-winding, platinum wristwatch with retrograde perpetual calendar, moon phases, leap year indication.
Sold including buyer's premium: $420,000
Ref. 5101P, Tiffany Patek Philippe, Genève, retailed by Tiffany & Co., 10 Days Tourbillon, Made in 2007, sold January 29, 2008. Extremely fine and possibly unique rectangular and curved, Art Deco style platinum wristwatch with one-minute tourbillon regulator, tandem mainspring barrels for 10-day power reserve.
Sold including buyer's premium: $295,200
[caption id="attachment_927" align="alignright" width="250" caption="Patek Philippe Ref. 5004"][/caption]
Patek Philippe Ref. 5004 Philippe, Genève, Ref. 5004R. Sold February 28, 2004. Extremely fine, rare and important, astronomic, water-resistant, 18K pink gold wristwatch with coaxial round button split-seconds chronograph, registers, perpetual calendar, moon phases.
Sold including buyer's premium: $270,000
Patek Philippe Ref. 3450 with Crystal Display Case Back Patek Philippe, Genève, Ref. 3450. Made in 1983, sold September 19, 1983. Very fine and very rare, self-winding, 18K yellow gold wristwatch with perpetual calendar, moon phases.
Sold including buyer's premium: $270,000
Audemars Piguet Platinum Tourbillon Minute Repeater Audemars Piguet, Genève, Jules Audemars - Tourbillon - Minute Repeater - Chronograph, No. 678796, case No. F 94174. Made circa 2007 and sold in 2008. Extremely fine and rare, large, water resistant, minute-repeating, platinum wristwatch with visible one-minute tourbillon regulator, round button chronograph, register.
Sold including buyer's premium: $234,000
Platinum Grande Complication Audemars Piguet, Genève, "Jules Audemars Grande Complication Automatic," Ref. 25806 PT. Made circa 2006. Extremely fine and rare, large, minute-repeating, self-winding, platinum wristwatch with co-axial round button split-seconds chronograph, register, perpetual calendar with indication of the weeks, moon phases.
Sold including buyer's premium: $222,00
Vacheron Constantin Malte, No.2 Vacheron Constantin, Genève, Malte Perpetual Calendar, Minute Repeater, Ref. 30040. Made in 2007. Extremely fine, rare and important, minute-repeating, 18K pink gold wristwatch with perpetual calendar, leap year indication, moon phases
Sold including buyer's premium: $216,000
Yellow Gold Ref. 5102, The Celestial Wristwatch Patek Philippe, Genève, The Celestial Wristwatch, Ref. 5102J. Made in 2008, sold on December 24th, 2008. Extremely fine, rare and unusual, astronomic, self-winding, 18K yellow gold wristwatch with mean time indication, nocturnal sky chart of the Northern Hemisphere, moon phases and moon orbit, time of the meridian passage of Sirius and moon.
Sold including buyer's premium: $204,000
Vacheron Constantin Minute Repeater Ref. 4261 Vacheron & Constantin, Geneve,, completed and sold in 1943. Extremely fine and rare, slim, elegant, minute-repeating, 18K pink gold wristwatch with three-tone pink dial and tear-drop lugs.
Sold including buyer's premium: $198,000