NEW YORK, NY.- Modern complicated timepieces led yesterday’s auction of Important Watches at Sotheby’s New York, which totaled $7.4 million. Noteworthy prices for signature pieces by leading names in horology – Patek Philippe, Rolex and A. Lange & Söhne – were matched by significant interest in contemporary wristwatches by innovative, independent makers like Richard Mille and Greubel Forsey. Following a four-day exhibition and seven hours of auction, 310 lots sold across two sessions, resulting in a strong sell-through rate of 84.2%.

Nate Borgelt, International Senior Specialist for Sotheby’s Watches, noted: “With interest and participation from around the world – including South America, Asia, Europe and the United States – our sale was a truly global affair. We were delighted to see significant prices for beautiful and complicated timepieces by both established houses and independent watchmakers, like Richard Mille and Greubel Forsey, and look forward to continued growth in the market for modern marvels.”

The auction was led by a Patek Philippe Rare Platinum Minute Repeating Perpetual Calendar Tourbillon Wristwatch with Retrograde Date and Moon Phases, which sold for $444,500. Exemplary of the Swiss watchmaker’s engineering excellence, Ref 5016 – one of the most complicated wristwatches ever created by the firm – combines the most highly-prized functions with the iconic Calatrava case.

Vintage timepieces were also led by Patek Philippe. An excellent example of an early 20th century Grand Complication watch, the Rare and Important Yellow Gold Open Faced Perpetual Calendar Split Second Chronograph Watch with Moon Phases from 1911 achieved $181,250, while a Rare Yellow Gold Open Faced Minute Repeating Perpetual Calendar Watch with Moon Phases, started in 1931 and completed in 1951, fetched $110,000.

Rolex wristwatches also performed well across both sessions of Important Watches, with nearly all of those offered finding buyers. ‘Paul Newman’ Daytonas continued to see competitive bidding with a Stainless Steel Chronograph Wristwatch with Registers and Bracelet, Ref 6262 from circa 1971, fetching $137,500, above its high estimate of $100,000. Similarly, a Stainless Steel Antimagnetic Triple Calendar Chronograph Wristwatch with Registers, one of the most-complicated pieces produced by Rolex, exceeded expectations. The third reference of the Dato-Compax to be produced in the iconic Oyster case, this Ref 6036 sold for $91,250.

Standing alongside the stalwarts of horology in yesterday’s sale were wristwatches by modern independent makers. Richard Mille’s Pink Gold Tonneau Form Split Seconds Chronograph Tourbillon Wristwatch with Power Reserve and Torque Indication – one of the most complicated timepieces made by the firm – exceeded its pre-sale high estimate when it fetched $396,500. In fact, all five innovative wristwatches by Richard Mille offered in the Important Watches auction exceeded their high estimates. Another independent watchmaker, Greubel Forsey, saw a significant price in yesterday’s salesroom with a Rare Pink Gold Double Tourbillon Wristwatch with 72 Hour Power Reserve Indication. Chased by several bidders on the telephone, the winner of the "Aiguille d'Or" at the Grand Prix d'Horlogerie de Genève achieved $200,000.

Next Auction for Sotheby’s Watches: The Celebration of the English Watch Part IV, George Daniels 20th Century Innovator London, 6 July 2017