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Tuesday, 23rd December 2008 (1807 views)

Sotheby's has conducted its final auction of 2008 and has reported that the watch sale attracted strong bids for gold items despite the global economic downturn.

The auction house stated that the event achieved the second-highest total for a watch sale ever at Sotheby's London, netting more than £1.5 million.

Alex Barter, Sotheby's director and deputy worldwide head of watches, commented: "The overall results and prices established for rare timepieces of high quality by renowned makers, such as Patek Philippe and George Daniels, demonstrate that the market for watches remains extremely buoyant."

Highlights of the sale included the sale of a rare white gold Patek Philippe Automatic Astronomical Wristwatch, with a winning bid of £103,250, £20,000 higher than its lowest estimate.

A yellow gold automatic perpetual calendar wristwatch attracted a high bid of £64,850, while a George Daniels White Gold Millennium Watch sold for £79,250 at the auction.

Meanwhile, Antiquorum has reported that gold watches by Patel Philippe, Officine Panerai and Rolex have sold particularly well during its recent collectors' sale in New York City.

 

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