Internet bidding boosts Antiquorum's Geneva sales to $5.5m
As watch collecting spreads across the globe, we look at Antiquorum's Swiss auction earlier this month
Antiquorum's last Geneva spring sale, Collecting Modern & Vintage Timepieces, held at the Mandarin Oriental Hotel earlier this month achieved excellent results totalling CHF 6,327,428 (nearly US$5.5m) with 84% of the 500 lots being sold.
The auction enjoyed strong in-room presence as well as lively telephone and Internet bidding, with international participation including bidders from France, Germany, Switzerland, USA and the United Kingdom.
Asian bidders from Hong Kong, Taiwan and China competed aggressively to acquire some of the most important pocket watches and vintage timepieces.
The top lot of the sale was the Grande & Petite Sonnerie Tourbillon Clockwatch attributed to Victorin Piguet, with the tourbillon carriage by Albert Pellaton-Favre.
It sold to a collector from Taiwan for an impressive CHF 366,000 ($317,688) after fierce telephone bidding against a European bidder.
Jaeger-LeCoultre timepieces achieved very good results, including the Grande Complication Gyrotourbillon No. 1/1, pièce unique, which reached a notable CHF 342,000 ($296,856).
Furthermore, a Private Collection of over 60 Jaeger-LeCoultre clocks attracted the attention of collectors worldwide with several pieces obtaining remarkable results.
Certain fine examples in the pure Art Deco style sold for up to four times the lower estimate such as the Jaeger "Heures Sautantes" and the "Duo Face" double face crystal table clock. Both attained CHF 9,600 ($8,333).
Elsewhere, the unusual and rare Jaeger "Mappemonde", illuminated world globe table clock sold for an impressive CHF 11,400 ($9,895), while the glass and chrome Jaeger-LeCoultre pendulette baguette, retailed by Hermès was acquired by a collector over the phone after a very animated bidding session.
"We are very pleased to see that the collection of Jaeger-LeCoultre clocks drew great international interest, especially on the part of American, Asian and European collectors," said Etienne Leménager, Director and Watch Expert at Antiquorum.
"In particular, the Art Deco Jaeger-LeCoultre Pendulette Baguette with an 8-day going movement and retailed by Hermès, reached an impressive 12,000 CHF ($10,416) more than four times its lower estimate."
All price translations are shown in US dollars.
As 2010 shapes up to be a great year for the fine watch markets, the impact of internet bidding at Antiquorum's Geneva sale will come as no surprise to regular readers of Paul Fraser Collectibles.
As Julien Schaerer, Watch Director and Auctioneer at Antiquorum USA, told us in his exclusive interview back in March, "The internet has completely changed the business."
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