At Sotheby's, the Evening sale of Important Watches brought CHF 6,834,750 ($ 5,754,723). The top lot of the sale was the “Unique Patek Philippe, Ref. 3448” which sold for CHF 1,840,900 ($ 1,550,001). Almost 100 clients were registered to bid in the room and 44.8%% of the lots sold above their high estimates. The auction was 67.4% sold by lot.

Commenting on the sale, Alexander Barter, Deputy Worldwide Head of Watches, Sotheby's International, said:“. Although we saw selective bidding in tonight’s auction, the sale of the “Unique Patek Philippe, Ref. 3448” for more than CHF 1.8 million and the sale of the “Pink Patek Philippe Ref.2499” for over 1.6 million, have demonstrated that rare time pieces in excellent condition continue to perform well in these uncertain economic conditions”.  

Geoffroy Ader, Head of Watches, Sotheby's Geneva, added: “Since the sale had been put together in the summer, in a very different economic environment, we are very pleased with tonight's result of CHF 6,834,750 which brings the total for 2008 to CHF 17,738,750, the best result ever for Sotheby's watch sales in Geneva”.

Source: Sotheby's
www.sothebys.com