Christie's Sells Record-Breaking $91 Million Worth of Watches in 2010
With its final auction of the fall season on December 14 in New York, including the stunning collection of rare Rolexes we wrote about the other day, Christie's International wrapped up a record-breaking year for fine and rare watches that realized an astonishing $91.2 million in total sales – the highest annual total ever achieved for watches at the global auction house. During what has emerged as a remarkable year for investment in fine timepieces, every watch sale hosted at Christie's salerooms in Dubai, Hong Kong, Geneva, and New York achieved sell-through rates above 90% by value. The top watch of the year was a unique Patek Philippe gold chronograph Reference 1527 (above) manufactured in 1943 that sold for a record-breaking $5.7 million at Christie's Geneva in May. The top 8 prices of the year were all attributable to Pateks, and no other auction house in the world achieved as many record prices for important timepieces during 2010.