December 17, 2020
Sotheby’s Important Watches auction on Tuesday in New York brought in $10.4 million, and a rare 18k yellow gold Patek Philippe watch became the sale’s superstar lot.
The sought-after Patek Philippe reference 2499 watch was originally retailed by Tiffany & Co. and sold for $818,600 (its sales estimate was $500,000–$800,000). It was the first time the watch appeared on the auction block. The timepiece was produced in 1981 and features a personal inscription, “Patek Philippe,” on its folding clasp.
Another rare watch, an Audemars Piguet Royal Oak Grand Complication with a salmon dial, was also on auction for the first time, and fetched an impressive $441,000. Meanwhile, a unique vintage clock, a Charles Frodsham & Co. Ltd. open-faced minute repeating split-second chronograph originally owned by J.P. Morgan Jr. (and on offer through the estate of Alexandra McCain Morgan) went for $201,600.