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Rolex Watches Set Sales Records.
Watch auctioneer Antiquorum saw enthusiastic response to Rolexes in the first half of its "Mondani Collection of Rolex Wristwatches" sale in Geneva on Saturday.
Phase one of the two-part auction—whose second section will conclude in Geneva May 13—netted $3.676 million for Antiquorum including buyer's premium, according to a company release issued Sunday. All 152 lots were sold at 200 percent of their estimated value, with intense bidding from European and Asian buyers.
Ten lots fetched world-record prices. The sale's top lot, selling for a world-record price of $286,211 including buyer's premium, was Rolex's "Oyster Chronograph Antimagnetic" made in 1941. The rare stainless-steel watch, also dubbed the "Medical Chronograph" or "Stainless Steel Monoblocco" boasts a black dial, round button chronograph, register and pulsometer. The next-highest sale was $242,787 for Rolex's "Oyster Perpetual, Officially Certified Chronometer." Made in 1953, the gentleman's watch has a stainless steel "Jubilee" bracelet and features a triple date and moon phases.
In a separate sale on Sunday, "Important Collectors' Wristwatches, Pocket Watches and Clocks," Antiquorum made nearly $9.3 million from the sale of 88 percent of available lots, which fetched 100 percent by value. In its release, the auction house cited the "Mondani effect" on bidding, which catapulted the sale's Rolex lots to fetch value beyond their estimates.
This helped boost Rolex's "Milgauss Brown Dial Rolex" and "Oyster Perpetual" to world-record sales of $153,959 and $93,300, respectively. Top lot at the sale was Patek Philippe's "World Time" watch made in 1953, featuring a map of North America on its cloisonné enamel dial, which fetched $1.745 million.
$1.745 million!
Another sale record was for the Hamilton "Railway Special" pocket watch made in the 1940's. The piece sold for $64,050, the highest price ever paid for an American-made watch at auction.
The Railway Special: $64,050!
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