One of the most exciting watch auctions this year has seen the first chronograph watch made by Patek Philippe sell with outstanding results on June 10 in New York.
Sotheby's auction featured a line-up of unique and historically significant wristwatches from the illustrious Swiss company, with a range of never before seen titanium examples exciting collectors.
Originally valued at $800,000-1.2m, the chronograph made $2.9m - a 141.6% increase on estimate.
The watch, a luxurious yet understated piece in yellow gold, is the earliest and smallest known example of the split seconds chronograph, which began production in 1903. This example was completed by and sold on October 13, 1923.
Among the private collection of 12 Patek Philippe titanium watches, a Sky Moon Tourbillon boasting the unique 5001T reference made $1.3m against a $1m-1.5m estimate.
While Patek Philippe dominated bids, Cartier made a showing in the top lots of the sale, with a enamel and gem-set desk clock in the form of a tortoise. Estimated at up to $500,000, it made a 75% increase to sell for $875,000.
A unique platinum example of the Patek Philippe Ref 5103P, made in 2004, brought $773,000 against a $700,000 estimate.
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