Patrizzi and Co. auction nets over $6.7 million

25 april 2009 - source Patrizzi & Co Auctioneers SA

An impressive CH 7,853,400 achieved ($6,7 Million Dollars)

Around 100 people were present in the auction room and 208 participated online as well as those bidding over the telephone in this, the first auction of the Geneva auction year, held by Patrizzi & Co in the elegant Hotel Mandarin Oriental Hotel in Geneva. The auction was held in two sessions - one in the morning and one in the afternoon. 80% of the 263 lots were sold, achieving an impressive CH 7,853,400.

What was particularly notable in the auction room was that all those present were serious watch enthusiasts who had come from all around the world to be present for the event. Many pieces in the sale achieved double their original estimate while most sold for the mid-estimate. It is worthwhile noting that, unlike other auction houses, Patrizzi & Co do NOT charge buyers commission so the total figure quoted above is the amount bid.

During the sale there was very competitive bidding for several Patek Philippe, Vacheron Constantin, and Panerai wristwatches, and interestingly for a Hublot Big Bang Tourbillon Solo Bang which nearly doubled its estimate. Breguet's workshop regulator, an extremely rare astronomical floor regulator made by Breguet before 1836 (Lot 150), failed to reach its reserve so remained unsold, but his no 2681 (Lot 153), an 18K souscription watch, which was originally sold to Prince Ferdinand in 1812, sold for an impressive CH 42,000. Other pocket watches that sold well were Lot 210, a Louis Audemars no 12131 circa 1875 which achieved CH 90,000 and Lot 158 a Patek Philippe & Cie yellow gold keyless World Time gentleman's dress watch with a cloisonné enamel map of North America sold for CH 92,000.

Since Patrizzi and Co. does not charge a buyer's commission, the sales figures represent the actual amount bid.

Some of the top lots:

Lot 263 YELLOW GOLD REF. 3974 Patek Philippe, Genève, ref. 3974, case no. 2,900,797, movement no. 1,906,057, made in 1991, sold on November 27, 1992, accompanied by original box, setting pin, original certificate, alternate bracelet, and an extract from the archives. Extremely fine, rare and important, 18K yellow gold, self-winding, perpetual calendar, astronomic, minute-repeating gentlemen's wristwatch with phases of the moon, months, days of the week, date, leap year, 24-hour indication, 48-hour power reserve, leather strap and 18K yellow gold Patek Philippe deployant buckle. SOLD for: CH 410,000

Lot 261 GEORGE PRAGNELL 50 GOLDEN YEARS, MINUTE REPEATER Patek Philippe, Genève, Ref. 5079J-010, Case No. 4261702, Movement No. 1904150, made in a limited series of five examples in 2004 for the 50th Anniversary of George Pragnell Jewellers, sold on December 1, 2004. Extremely fine and exceptionally rare, 18K yellow gold, large, minute-repeating, self-winding gentlemen's wristwatch with cathedral gongs, 48-hour power reserve, interchangeable back, original box and papers. SOLD for: CH 370,000

Lot 238 YELLOW GOLD 1997 COMMEMORATION, REF. 5029 Patek Philippe, Genève, Ref. 5029, Case No. 4,046,663, Movement No. 1,904,098, made in a limited series of 10 examples to commemorate the 1997 inauguration of the new Patek Philippe manufactory in Geneva, sold on September 25, 1998. Accompanied by the original box, certificate and an Extract from the Archives. SOLD for: CH 390,000

Lot 234 LUMINOR PANERAI, EIGHT DAY Rolex Panerai, Ref. 6152-1, Case No. 124940, made in the 1950s. Fine and extremely rare, large stainless steel, cushion-shaped, water-resistant, military divers' wristwatch. SOLD for: CH 105,000

Lot 206 ROLEX PANERAI, REF. 3646, MADE FOR GERMAN KAMPFSCHWIMMERS Officine Panerai, Firenze, Case No. 260991, made in 1940. Fine and extremely rare, large, cushion-shaped, water-resistant, stainless steel military divers' wristwatch with California dial. SOLD for: CH 105,000

Lot 184 EXTRA-FLAT MINUTE REPEATER Vacheron & Constantin, Genève, Case No. 266986, Movement No. 380639, made in 1941. Accompanied by Certificate of Authenticity. Exceptionally fine and unique 18K pink gold, keyless, minute-repeating, gentlemen's wristwatch. This unique watch is the largest wrist minute repeater ever made by Vacheron Constantin. SOLD for: CH 180,000

 Osvaldo Patrizzi The internationally acclaimed horological expert, Osvaldo Patrizzi, creates Patrizzi & Co, a new auction house specializing in horology whose innovative concept is offering new advantages to collectors. >More