Christie’s 10th anniversary auction: watches worth nearly AED10m sold

March 16, 2016 5:10 pm

Christie's first of four auctions celebrating its tenth anniversary in the region. (Image provided)

Auction house Christie’s started celebrating the tenth anniversary of its presence in the Middle East region on Tuesday with an impressive ‘Important Watches’ auction that realised $2,681,688 (AED 9,748,172) in sales.

The auction featured 176 lots, with the top one being a rare 18k pin gold rectangular Tourbillon Chronometer Patek Philippe wristwatch, ref. 5101R-001.

“This sale was quite remarkable as we had the opportunity to not only add another 176 selected lots to the extensive 2050 lots of jewels and watches offered over the past ten years, but this was one of the largest selection[s] of timepieces we offered for auction in the history of Christie’s Dubai,” says Remy Julia, the Watch Specialist in charge of the sale in the Middle East.

“This year especially, the Dubai Important Watches auction showed the depth in the market and the request[s] of collectors from around the world for unique, limited edition and vintage watches,” she adds.

The auction sold 85 per cent by lot and 86 per cent by value, and saw participants bidding from 25 countries across five continents. These buyers placed their bids in the saleroom via phone representatives or online.

This is the first of four auctions that will be held in celebration of one decade of Christie’s presence in the region.

Christie’s is holding two more auctions on Wednesday, titled ‘Now and Then’ and ‘Modern and Contemporary Art’, before the final one, ‘Christie’s Elements of Style Auction’, set to be held on March 17.

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AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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