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Watches are back to conquer the market: 10,9 million dollars for the auction of Christie's in New York. Top lot Richard Miller RM UP-01 Ferrari

Christie's New York Luxury Week watch sale delivered exceptional results, proving the sector is resilient in the investment asset. The auction realised $10,9 million and sold 97% per lot, demonstrating strength across the board with 89% of lots selling above and within estimates.

Watches are back to conquer the market: 10,9 million dollars for the auction of Christie's in New York. Top lot Richard Miller RM UP-01 Ferrari

The top lot was Ultra-Flat no. 37/150 for Ferrari signed Richard Mille, RM UP-01, which fetched $1,4 million. The sale was lively, with bidders and buyers in attendance, on the phone, and online. Bidders came from all over the world, with 43% of bids coming from the Americas, 24% from Asia Pacific, and 34% from EMEA. There was strong demand for high-quality vintage watches and creations from independent watchmakers, including the day’s top two lots – both by Richard Mille – each selling for more than $1 million. The third-highest price in the sale was for a 1986 Cartier London Crash, which sold for more than double its low estimate to reach $819.000.

RICHARD MILLE, FERRARI MODEL, REF. RM UP-01 TI, NO.
RICHARD MILLE, FERRARI MODEL, REF. RM UP-01 TI, NO.

Another notable result came for a 18 Patek Philippe 1940k yellow and rose gold Hinged “Chameleon” bangle watch, which sold for $378.000, more than three times its high estimate.

Clock 1940
Patek Philippe 18k Yellow and Pink Gold 'Chameleon' Hingled Bangle Bracelet Watch

A highlight of the sale was a group of four IWC Pilot’s Watch chronographs in white ceramic with deep blue dials, carried into space by the Polaris Dawn crew. These custom watches, offered to benefit St. Jude Children’s Research Hospital, brought a combined $277.200. Lot 1 alone realized $126.000, far exceeding its high estimate of $25.000.

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