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Tuesday, 12th May 2009 (1323 views)

Christie's International has sold a rare Patek Philippe watch for CHF1.94 million (£1.15 million).

The auction house estimated that the top bid for the timepiece would be CHF1-1.5 million, but it significantly exceeded the guide price.

One of seven known examples of its kind, just under 200 bidders from around the world participated in the watch sale.

The Christie's Important Watches auction generated more than CHF15 million in total, exceeding a high pre-sale estimate of CHF12 million.

Aurel Bacs, international co-head for the firm's watch department, commented: "The results demonstrate the strength of this established category and its timeless appeal was illustrated by committed bidding from a deep pool of collectors from around the world."

During the watches sale in Geneva this week, Christie's sold a series of timepieces, including a travel clock owned by a descendent of Napoleon's sister Caroline Murat Bonaparte and an oversized Patek Philippe aviator's wristwatch.

A recent auction held by Sotheby's included a gold watch believed to have been owned by King Ludwig II of Bavaria, which sold for CHF200,000.

 

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