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Patek Philippe Watch Breaks Online Auction Record with $5.81 Million Sale March 23, 2023 (0 comments)
Hong Kong--A Patek Philippe Sky Moon Tourbillon recently sold online for a staggering $5.8 million, breaking previous records for online auctions of luxury timepieces.
[Image via Watchpro]
According to a news report, the watch supported an overall sales total of $8.4 million for Christie’s online auction, which ended with 7% of lots unsold.
The report noted that auctioneers saw watch sale values drop by 25%, year-on-year, at the autumn sales in 2022 as the wider secondary market for luxury vintage and pre-owned watches cooled. That softness continues into 2023, although Christie’s head of watches for Asia Pacific, Alexandre Bigler, remains positive.
“There continues to be an extremely vibrant market for watches across the world, evidenced through the avid global bidding this sale witnessed,” Bigler suggested in the report.
The Hong Kong auction achieved the most impressive results for the rarest timepieces. Check them out here.