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Geneva, Switzerland (GenevaLunch) – 15-16 November was the big annual watch auctions weekend in Geneva and it appears that the gloomy economy is not hurting the fine watches business. Sotheby’s brought down the gavel on CHF6.875 million in sales.

The watches generally appeared to sell within the range of their estimates, including two top sellers, both Patek Philippe watches. One was estimated at CHF1.3-2m and went for CHF1.84m, and another was estimated at CHF1.2-1.8m and sold for CHF1.68m.

The rule held for the lesser watches, such as a Blancpain from 1995 that sold for CHF16,250 which was estimated at CHF15-20,000. There were some exceptions, such as a Patek Philippe watch made in 2000 that went for CHF80,000, over its estimated CHF65-75,000.

Posted by Ellen Wallace on 17 November 2008 at 13:20 | permalink
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News story, GenevaLunch, 17 November 2008.

Filed under: Society

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Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.