Christie's Dubai watch auctions exceed upper limit and total $3m | Christie's Dubai watch auctions exceed upper limit and total $3m -
hristie's Dubai watch auctions

Christie’s Dubai watch auctions exceed upper limit and total $3m

: Sunday, March 23 - 2014 @ 15:07

Bidding in tonight’s Dubai Important Watch auction at Christie’s was fast and furious with collectors from around the region gathering to compete for the 123 lots which sold collectively for $3,097,313 (AED11,376,430), above the high estimate of $2.9 million. One of only ten known examples of Patek Philippe’s iconic reference 5971, the bezel decorated with 42 baguette-cut emeralds weighing approx. 3.33 carats, fetched the highest price when it sold for $341,000 / AED1,252,493.

The watches followed last night’s stellar sale of modern and contemporary art which realized $10.6 million, making a combined total of $13,745,563 for the sales this spring. Christie’s 16th consecutive sale season in the Middle East, was the first to be held to coincide with Dubai Art Week with 20% of those registered to bid in the sales new to Christie’s.

Frederic Watrelot, Christie’s watch specialist in the Middle East, said: “This season, our second since we re-launched our watch sales here in Dubai, was more than double the size and I couldn’t be happier with the results. The sale was 96% sold and bidding was predominantly from Middle Eastern private collectors with some strong international participation.”

Contact:
Zaib Shadani
Consultant
The Portsmouth Group
Dubai, United Arab Emirates
Tel: +971 4 369 3575
Fax: +971 4 360 4511

Today's Top Stories

Posted by

Sunday, March 23- 2014 @ 15:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services







Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically





JobsVIEW ALL

Search for jobs

Latest Jobs