On July 16, Sotheby's in London is staging a stunning sale of Important Watches. The top lots are all of course Patek Philippes, but there are some prime timepieces from the likes of Rolex, Panerai and Cartier as well. Leading things off pricewise is an exceptional platinum minute repeating perpetual calendar tourbillon Patek with retrograde date, phases of the moon and a black dial, est. $700,000 - $900,000.

From there prices drop dramatically and there are some deals to be found. We're particularly fond of this 1945 steel Patek chronograph with register and tachometer, est. only $50,000 - $80,000. On the Rolex front there's a rare 1972 stainless steel Submariner made for the British Royal Navy, est. $50,000 - $70,000, and a stainless 1983 Daytona cosmograph, est. $28,000 - $36,000. Also worth noting: an oversized Panerai limited edition white gold dual time zone Radiomir, est. $11,000 - $17,000. See the gallery for pix.

On June 19 in New York, Bonhams will auction off a selection of Fine Watches including this beautiful platinum Cartier pocket watch, estimated at $7,000 - $9,000. While overall the timepieces featured are of less importance than in some of the mega-auctions we told you about recently, there are still plenty of valuable and beautiful pieces to be had here. Also on the pocket watch front, there's a rare 18k gold open face minute repeating perpetual calendar version with phases of the moon by Patek Philippe, est. $80,000 - $120,000.

Also included in the sale: A Patek 18k gold self-winding perpetual calendar wristwatch with moon phases and leap year indicator, est. $25,000 - $35,000; several examples of the coveted "Straight Hand Steve McQueen" Rolex Explorer and a rare 1960 stainless steel anti-magentic Oyster chronograph, est. $40,000 - $60,000; and a limited edition titanium Panerai Luminor, est. $10,000 - $15,000.

A million-dollar Patek Philippe may be out of your price range, but that doesn't mean you have to give up on acquiring a classic and highly collectible timepiece at auction. A less expensive alternative to the marquee sales at Sotheby's and Christie's comes in the form of Portero.com's eBay-style luxury watch auction, ending Wednesday. Portero, which means "gatekeeper" in Spanish, has established itself as the most reliable online pre-owned luxury purveyor by absolutely guaranteeing that everything they sell is 100% authentic - an important safeguard when shopping for secondhand big-ticket items online.

The company, which just announced the strongest first quarter results in its history, features several important timepieces in its most impressive watch offering to date. Take for instance this beautiful 1974 Stainless Steel Rolex Oyster Perpetual Explorer II, known as the "Straight Hand Steve McQueen" after the super-cool actor who popularized it - one of our favorite vintage Rolexes of all time. At Antiquorum's record-breaking $8.5 million Rolex auction last month one just like it went for $40,000, but with less than three days left (as of time of writing) the current bid on this one is only $19,000, so there's a chance to score a really good deal. See the gallery for more lots including watches by Patek Philippe, Ulysse Nardin and Jaeger-LeCoultre.

A one-of-a-kind, oversized 1930s Patek Philippe chronograph that belonged to dashing Italian racecar driver Count Felice Trossi is expected to fetch close to $2 million at Sotheby's in Geneva today. Famed Fiat chairman Gianni Agnelli probably copied Trossi's habit of wearing his Patek over his shirt cuff, the better to keep time while winning the Italian Grand Prix, which Trossi did in 1947. These day's Trossi's name lives on mainly for automotive enthusiasts; his legendary one-off 1930 Mercedes-Benz SSK, now known as the "Count Trossi", is the star of Ralph Lauren's incredible car collection.

The sale also features several other Pateks including some extremely rare chronographs. Meanwhile, Christie's will stage it's own Important Watch auction in Geneva tomorrow, featuring two of the most important antique one-off Pateks ever to go ion the block: a stainless steel perpetual calendar with phases of the moon, and a platinum perpetual calendar with sweep centre seconds and phases of the moon. Both are estimated at an astounding $1.4 million - $2.4 million.

[via Men.Style]

The other day we reported on the world records set at Antiqorum's recent $8.5 million Rolex auction, where the top-priced timepiece fetched $248,000. At Sotheby's Important Watches auction on April 23, however, that record was shattered by the sale of an ultra-rare 1971 "Albino" Rolex Daytona that formerly belonged to rock & roll icon Eric Clapton. Eclipsing its pre-sale estimate of $100,000 - $150,000, the Daytona went for a whopping $505,000 including buyer's premium.

Though the total proceeds from the Sotheby's sale, $6,588,451, were far less than Antiquorum's, the Clapton sale set a record for the Daytona and was the second-highest price ever achieved at auction for a Rolex watch. This model is known as the "Albino" because both the background and subsidiary dials are in a monochrome silver color, as opposed to the usual contrasting variations found on more common examples.

The second through fifth highest prices paid at the Sotheby's auction were all for Patek Philippes, ranging from $445,000 - $217,000. The sixth highest was also a Rolex, a so-called "James Bond" 1959 Submariner, which brought in $211,000.

Patek Philippe, maker of the most coveted watches in the world, is staging an unprecedented exhibit of the most valuable timepieces from its collection here in the U.S. The exhibit, featuring hundreds of items including priceless pieces from the Patek Philippe Museum in Geneva, is on display at Tiffany & Co.'s Fifth Avenue flagship through Saturday evening; next month it travels to the Beverly Wilshire Four Seasons in Los Angeles, running from May 16 - 18.

With Patek Philippes fetching record prices at auction, this is a rare opportunity to view timepieces that the likes of Christie's would kill to get their hands on. The exhibits culled from the company's 169-year history include rare pocket watches and the first Swiss wristwatch ever made.

[via Men's Vogue]

The latest Antiquorum auction will feature the collection of jazz pianist Keith Jarrett. His impressive collection includes a Patek Philippe Ref. 3970E in pink gold,with chronograph, register, perpetual calendar, and moon phases. Antiquorum experts expect this watch to fetch $ 60,000 - 80,000. Other watches in the auction are from two collectors, an "English Gentleman" and a "Scottish Gentleman." The English Gentleman's collection include  a Vacheron Constantin, Les Complications Tourbillon 75 which was made in   the 1990s in platinum in a limited edition of three with transparent case back and should bring in $80,000 to $120,000. The Scottish Gentleman's collection includes a Patek Philippe “ Celestial Wristwatch." This rare beauty, shown here is Reference 5102 and is an astronomic 18K white gold gentleman’s wristwatch with mean solar time indication, nocturnal sky chart of the Northern Hemisphere, moon phases, moon orbit, and time of the meridian passage of Sirius and the moon and should sell for $140,000 to $160,000.

Time Zone has pictures of the latest watch from the  Geneva workshops of Patek Philippe. The new automatic chronograph is the Ref. 5960P Annual Calendar Chronograph. It has a 40.5mm platinum case and front and back sapphire crystals. The movement is the new automatic Patek caliber CH28-520 IRMQA24H with 40 jewels, a 55 hour power reserve and a flyback column-wheel, a power reserve indicator, an annual calendar, and day/night display.The chronograph has a button to start and stop a measurement and one two reset the stopped chrono hand or activate the flyback function when the chrono is running. The calendar recognizes months with 30 and 31 days and only needs to be reset after February. It shows the day, week, date and month.