Dubai: An extremely rare wristwatch by Patek Philippe became the priciest timepiece purchased at an auction in Dubai Tuesday night, after it went under the hammer for more than half a million dirhams.
The 18-carat pink gold rectangular chronometer wristwatch, which has a 10-day power reserve, was one of the more than 100 lots sold at Christie’s Dubai Important Watches auction in Jumeirah Emirates Towers Hotel.
The timepieces sold at the auction fetched a combined sale price of more than Dh9.7 million after “competitive” bidding in the saleroom, on the telephones and online.
Christie’s said the auction attracted a number of bidders from 25 countries across five continents, indicating that there is still a huge appetite for expensive and luxury watches among private buyers and collectors.
“It was a truly special moment when we opened up the auction marathon,” noted Remy Julia, the watch specialist in charge of the sale in the Middle East.
The most expensive watch for the evening had an estimated sale value of Dh480,000 to Dh840,000 and was eventually sold to an anonymous bidder for Dh563,439. It was the most modern yet highly complicated wristwatch included in the auction.
The other timepieces that also went to anonymous buyers were a 2009 Roger Dubuis watch, which was sold for Dh454,386; 1983 Rolex (Dh327,158); 2007 Richard Mille (Dh318,070); Louis Audemars (Dh272,632), 2001 Rolex (Dh249,912), 2009 Patek Philippe (Dh215,833) and 2006 Rolex (Dh204,474).
