A Patek Philippe yellow gold World Time wristwatch has provided the lead lot at a major watch auction.
Ref 2523/1 sold for $933,333 at Sotheby's Hong Kong Important Watches Autumn Sale yesterday, comfortably surpassing its $709,700 valuation.
 One of just 20 produced |
Patek Philippe created the watch in 1968. Exceptionally rare, it is one of only 20 produced - helping explain its strong showing.
It features times for 41 cities using the ingenious Heure Universelle (World Time) movement.
"This reference is considered one of the most stunning and iconic models that Patek Philippe has ever produced," said Sotheby's prior to the auction.
Patek Philippe provided seven of the top 10 lots, clear evidence of the Swiss manufacturer's place at the head of the luxury watch market.
A Cartier panther bangle watch with diamonds made $656,410 to earn second place - almost doubling its estimate.
Sharon Chan, Sotheby's Asia's head of watches, told Blouin Artinfo that the highest profile watches performed "exactly within expectations and vintage lots sold particularly well."
"The sale attracted vibrant competition among bidders from Hong Kong, Mainland China, Southeast Asia, Taiwan, and the US, in proportion with what we have seen in recent Hong Kong sales," she added.
The world's most valuable watch is the Patek Philippe Henry Graves Supercomplication, which auctioned for $24m last year.
We have this superb Longines Men's Olympic Series watch for sale.
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