Sotheby’s Hong Kong Important Watches Spring Sale 2011 Achieves US$9.4 Million

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HONG KONG.- Sotheby’s Hong Kong Important Watches Spring Sale 2011 held yesterday achieved an impressive total of HK$73,086,250 / US$9,370,032 (Est. HK$46 -92.3 million / US$5.9 – 8 million*), achieving the Highest Ever Total For A Various-Owner Sale of Important Watches at Sotheby’s Hong Kong, eclipsing the consecutive record-breaking results of the past two seasons. With frenzied in room bidding and competition from around the world via telephone and Internet, the sale achieved astounding sell-through rates of 96.8% by lot and 99.1% by value, as well as world auction records for multiple timepieces, with 71.2% of total lots sold above high estimate. Top lot of the sale, an extremely important and rare Patek Philippe Platinum Minute Repeating Perpetual Calendar Tourbillon Wristwatch With Retrograde Date And Moon-Phases, Accompanied By Three Additional Dials, Circa 2004, Ref. 5016P