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Patek Philippe auctioned for a record $2.2 million at Sotheby's

May '08
The first evening sale of Important Watches to take place at Sotheby's in Geneva tonight realised an exceptional total of CHF 10,904,000 ($10,401,435). The auction reached its climax in front of a packed saleroom when a Patek Philippe chronograph wristwatch, formerly in the collection of Count Carlo Felice Trossi, sold for the outstanding amount of CHF 2,345,000 ($2,236,919), becoming the most expensive wristwatch sold by Sotheby's.

Alexander Barter, Deputy Worldwide Head of Watches, Sotheby's International, said: “Organised for the first time as a special evening event, tonight's sale totalled a tremendous CHF 10,904,000 ($10,401,435) representing the highest total ever achieved in this category at Sotheby's Geneva.

Tonight's result follows other successful watch sales at Sotheby's during the 2008 spring season – on April 10th, Sotheby's Hong Kong held its highest ever value watch sale, while on April 23rd, Sotheby's New York broke its record for a various-owner sale - demonstrating the continuing strength of the global watch market. These results also reflect the strong international demand for wristwatches of excellent quality and impeccable provenance, as well as the expertise of Sotheby's worldwide team in sourcing the most sought-after time pieces”.

Geoffroy Ader, Head of Watches, Sotheby's Geneva, and this evening's auctioneer, added: “After having sold the most expensive Rolex Daytona in New York and the most expensive modern wristwatch in Hong Kong last month, we are delighted tonight to have achieved the highest price for a wristwatch sold at Sotheby's with the Patek Philippe 'Trossi Leggenda'.”

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