Strong Results for Fine Watches Sale at Sotheby's London

Sotheby’s London Luxury Edit has beaten sales forecasts for both fine watches and fine jewellery, marking a strong start of the year for the luxury division in London. The Fine Watches sale registered the highest sale in value in over five years and the Fine Jewellery sale registered one of its strongest results in the same period.

In recognition of a growing trend towards cross-selling, Sotheby’s seasonal Luxury Edit is designed to address the needs of collectors, often at the early stages of their collecting journey, who enjoy the opportunity to select across a number of luxury categories.

The bi-annual luxury sale series, taking place in a number of Sotheby’s locations including London, New York, Paris and Milan, showcases an outstanding selection of pre-owned luxury objects designed by storied brands, combining rich heritage and impeccable craftsmanship, across fine jewellery fine watches, handbags, sneakers, wine and spirits, and more – with the property mix changing for each sale.

Fine Watches Sale Bidding Activity

Over 85% of all lots sold above their low estimates with over 47% of all lots selling substantially above their high estimates
The number of new buyers to Sotheby’s from this sale was up 43% compared to the same sale a year ago
52% of new buyers to the Fine Watches sale were known to Sotheby’s but buying watches for the first time
There’s also been a 50% increase in participants under the age of 30

World Record for the Patek Philippe Reference 533, ‘The General’ (sold for 190,500 GBP / estimate 30,000 – 50,000 GBP)

An iconic, rare and historically important yellow gold chronograph (circa 1937) with a “4 Ring” second series sector dial. The reference 533 was produced from 1937 to 1957 and was very similar to ref 130 aside from its flat coin like flat bezel. The reference was only produced around 350 units across 3 metals, (215 pink, 125 yellow and 10 steel) with the rarer metal unusually being yellow gold. The cases were produced by the Geneva case maker Emile Vichet and the dials were made by Stern Freres. The addition of a sector dial elevates the rarity of the watch further – it is believed only 12 sector dial 533’s were ever produced and only 6 of them have returned to market to date.

Lot 4. Patek Philippe, ref. 533: yellow gold chronograph wristwatch - Circa 1937. Estimate: 30,000 - 50,000 GBP. Sold for 190,500 GBP. Image: Sotheby's

UK Record for the Richard Mille Reference RM012 AG Pt 'Proto1' Tourbillon (sold for 609,600 GBP / estimate 250,000 – 450,000 GBP)

A platinum skeletonised tourbillon wristwatch (circa 2008), the RM 012 boasts a movement that was, and still is, revolutionary in concept and design. Intended to be created with the case and movement as one, the result, finished to the highest standards by hand, is both a technical and visual marvel. As an example of the research and dedication involved, the winding barrel, going train and tourbillon case are constructed in aluminum alloy Anticorodal 100 (AlMgSi1), the material was chosen for its low mass inertia, special ability to absorb vibrations, corrosion resistance and dynamic strength. Furthermore, the present lot, one of the heaviest in the RM series, provides a great opportunity to acquire a rare piece. Accompanying the watch is an autographed letter from Richard Mille informing the original owner on the manufacturing of the watch, which delivery had been delayed due to the Swiss watchmaker's desire to achieve the highest quality in the production of the prototype for the RM012. Excitingly, the letter mentions the production of three prototype watches of the RM012 of which we are pleased to offer the first one in the series.

Lot 13. Richard Mille RM012 AG Pt 'Proto1' Tourbillon | A platinum skeletonised tourbillon wristwatch | Circa 2008. Estimate: 250,000 - 450,000 GBP. Sold for 609,600 GBP. Image: Sotheby's

World Record for the Tudor Pelagos 'PARA', Reference 25600TN (sold for 53,340 GBP / estimate 5,000 – 7,000 GBP)

A special order titanium and stainless steel wristwatch with date and bracelet (circa 2022), the Tudor Pelagos reference 26500T stands as the Geneva brand's contemporary divers' wristwatch par excellence. The Pelagos boasts a strong titanium and stainless steel 42.5mm case which is complemented by a comfortable and resilient titanium and stainless steel bracelet and matching bezel. This singular divers' watch features a well-engineered helium escape valve, and it further increases daily usability with the addition of a date and a matte dial. Adding to the already impressive nature of this watch is the unique association with the British Army’s elite Parachute regiment, a highly skilled and formidable airborne force.

Lot 2, Tudor Pelagos 'PARA', Reference 25600TN - A special order titanium and stainless steel wristwatch with date and bracelet | Circa 2022. Estimate: 5,000 - 7,000 GBP. Sold for 53,340 GBP. Image: Sotheby's

This watch was offered to personnel of the 'Paras' in 80 pieces to celebrate eighty years since the regiment was founded, with the caseback including the Parachute Regiment emblem and locations in which the regiment received honours. The dial also bears the emblem at 9 o’clock. This example is number 38 of 80 and is the first to come to market since the release last year. The watch came to us directly from a former serving member and is accompanied by the iconic maroon beret and belt signature to the uniform of the unit.