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By webadmin | July 16 2009
Antiquorum concluded its 2009 auction in Hong Kong with an outstanding total of HKD 45,453,120 (CHF 6,397,981). Of the 479 lots that were offered for sale in the auction, 82% were sold representing 115% of the estimated value. There was standing room only at the Mandarin Oriental Hotel with over 250 internet bidders from over 40 countries around the world.
Outstanding prices were achieved for a very rare Patek Philippe 3974, which sold for HKD 3,000,000 (CHF 422,280), followed by the Franck Muller, Caliber 97 which reached HKD 2,820,000 (CHF 396,950).
“We are extremely pleased with the results of this auction and look forward to continued growth in Asia, an increasingly important area for our business. In line with Antiquorum’s worldwide strategy, we are planning to open an office in Beijing in order to enhance the service we are already offering our clients in mainland China from our existing office in Shanghai. This auction demonstrated Antiquorum’s ability to provide service to our long-established client base in Asia, as we continue to see new clients in Asia entering at all levels of the market,” said Evan Zimmermann, President & CEO, Antiquorum.
Other highlights included the rare pair of pocket watches “Farewell to the Beloved”, that were made for the Chinese market and realized an excellent result of HKD 1,800,000 (CHF 253,370). The “Cockatiel Clock” by Vacheron & Constantin, an exceptional chinoiserie desk clock, sold for HKD 420,000 (CHF 59,120), triple its estimate.
Patek Philippe modern timepieces achieved outstanding results, such as a the Ref. 3970 in platinum, which sold for HKD 960,000 (CHF 135,130). As well as vintage Patek Philippe, such as the Patek Philippe silver travelling clock which reached HKD 222,000 (CHF 31,250), more than four times its estimate.
“We are excited to see such outstanding results for our last auction of the season,” said Robert Maron, Chairman, Antiquorum. “In particular, we are pleased by the superb results achieved for complicated watches, pieces made specifically for the Chinese market, and Patek Philippe timepieces. As such, we look forward to another great season ahead starting with our September 16th and 17th auction at our US headquarters in New York City which will feature many rare and exceptional timepieces.”
Other notable results included the Rolex Comex Sea Dweller Ref. 1665, that sold for HKD 768,000 (CHF 108,100); as well as the Richard Mille RM005 which sold for HKD 283,200, double its estimate.
“Today’s excellent outcome for our Hong Kong auction demonstrates that despite worldwide economic turmoil, the Asian market remains strong. As our results indicated, the Asian market not only has maintained it’s strength, but has in fact grown to the extent that we have seen a 25% increase over last year,” said William Rohr, COO, Antiquorum.