This week the Latest Sale, Fine Jewellery, Business Directory team pays homage to Rolex Daytona Lesson One. On 10th and 11th November 2013, the Christie’s Geneva three-session auction of important watches realised an unprecedented combined total of $43,985,467 / SFr.40,273,663 / €32,823,824, the highest result for a series of watch sales ever held.
The Rolex Daytona “Lesson One” collection showcased at a unique single-themed evening auction featuring 50 exceptional examples of the world’s most celebrated chronograph wristwatch, totalled $13,248,167 / SFr.12,032,850 / €9,866,937. This enigmatic Rolex fetched a final selling price 100% by lot and by value. Each Daytona set a world record price for the model at auction.
Aurel Bacs, International Head of Christie’s Watch Department, declared: “On 10th and 11th November 2013, Christie’s dispersed over 370 fine watches in an historical ten-hour auction marathon, which set a new record total for any series of watch sales. In the past months, we exhibited highlights in Taiwan, Japan, Hong Kong, New York, Paris, Dubai and in all locations we noticed an ever-growing appetite for high quality collector’s watches. This trend was demonstrated by a fiercer-than-ever competition generated by both experienced and new international bidders, in the room, on the telephone and online. Patek Philippe and Rolex were the stars, confirming that rare timepieces have to be considered as true works-of-art. Repeatedly interrupted by the applauding audience, the last exciting session of the week was crowned by a standing ovation.”
The top lot of the sale was an extremely rare 1957 Patek Philippe ref. 2499 second series in pink gold, which sold for $2,160,474 / SFr.1,985,000. Only eight other examples of this iconic model in the hyper-rare pink gold second series are known to date. Another star of the sale was an historically important yellow gold split seconds chronograph ref. 1563 manufactured by Patek Philippe in 1947, which fetched $1,572,738 / SFr.1,445,000. Only three examples of this model are recorded to exist, all of which were made as special orders for the most prominent clients of the time. Originally created for jazz legend Duke Ellington, one of them is permanently exhibited in the Patek Philippe Museum in Geneva.
Surpassing all expectations, ROLEX DAYTONA “LESSON ONE” –a prestigious single-themed evening auction featuring 50 exceptional examples of the world’s most celebrated chronograph wristwatch, totalled SFr.12,032,850 /$13,248,167 / €9,866,937, selling 100% by lot and by value, at Christie’s Geneva. Created and curated by Aurel Bacs and Livia Russo, in collaboration with the renowned scholar Pucci Papaleo, to mark the 50th anniversary of Rolex’s most iconic model, this unique sale presented only the best and most mythical Daytona wristwatches ever produced. The top lot of the auction was an extremely important stainless steel chronograph wristwatch, ref. 6263/6239, Paul Newman model, manufactured in 1969, which sold for $1,088,889 / SFr.989,000 setting a world record price for any Rolex Daytona.
Aurel Bacs, International Head of Christie’s Watch Department, commented: “Christie’s first ever evening auction dedicated to wristwatches proved an unprecedented success. With four hundred people in the saleroom and plenty more queuing outside, I rarely experienced a similar rock concert atmosphere from the rostrum. Possibly the most rigorously curated watch auction ever staged, each lot was selected by Christie’s watch department in partnership with Mr. Pucci Papaleo according to a disciplined approach to originality, condition and provenance. Setting 50 world records for 50 watches as well as achieving an absolute record price for any Rolex Daytona ever sold at auction, Rolex Daytona “Lesson One” will be remembered as an historical event”.
About Christie’s
Christie’s, the world’s leading art business, had global auction and private sales in the first half of 2013 that totalled £2.4 billion/ $3.68 billion. In 2012, Christie’s had global auction and private sales that totalled £3.92 billion/$6.27 billion making it the highest annual total in Christie’s history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie’s has since conducted the greatest and most celebrated auctions throughout the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers over 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewellery. Private sales totalled £465.2 million ($711.8 million) in the first half of 2013, an increase of 13% on the previous year, and for the third successive year represents the highest total for the period in both company and art market history.
Christie’s has a global presence with 53 offices in 32 countries and 12 salerooms around the world including London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, Shanghai, and Mumbai. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.
Complete catalogue available online at www.christies.com or via Christie’s Mobile, iPhone, iPad and Android apps.