Press Release

Sotheby’s Hong Kong Spring 2020 Important Watches Totals HK$117 Million / US$15 Million

By Sotheby's

In our first live watches auction this year we are pleased to see a highly resilient watch market in Asia. Not only do we witness a heated bidding battle for the Rolex Lapis Lazuli Dial Daytona, far surpassing its pre-sale estimate and smashing the auction record, a series of contemporary watches and pieces from independent watchmakers have also achieved exceptional prices. These excellent results proved that the demand for top quality timepieces remains strong even during these unprecedented times. The sale has brought Sotheby’s Watches global sales total in 2020 to US$40 million, and we look forward to this season’s final auction in London tomorrow, which is highlighted by a magnificent Breguet pocket watch with royal provenance.
Sam Hines, Sotheby’s Worldwide Head of Watches

TOP LOT OF THE SALE

Rolex Platinum Zenith Daytona With Hardstone Lapis Lazuli Dial Soars to HK$25.4 million / US$3.3 million

- 6 Times Over Estimate -
*Auction Record for An Automatic Rolex Daytona*
3 Times Over the Previous Record Set Previously at Sotheby’s Hong Kong in Autumn 2018

OTHER NOTABLE RESULTS

Sells at HK$2,437,500/ US$314,511
- 2 times over estimate -

Sells at HK$2,250,000/ US$290,318

Sold to an Online Bidder at HK$375,000 / US$48,386
*Sold to benefit The Covid-19 Research Programme of The KU Leuven and UZ Leuven Universities*

- The Value of Lots Sold Online Doubles Last Season -

Sale Highlights:

- Robust interests for Rolex Daytona

o Setting a new auction record for Rolex Automatic Daytona: A possibly unique Cosmograph Daytona, Reference 16516 Platinum Chronograph Wristwatch With Lapis Lazuli Hardstone Dial, Circa 1999, sold for HK$25,375,000/ US$3,274,136, 5 times agaist its pre-sale estimates (Lot 2236, est. HK$4m – 8m/ US$500,000 – 1m)

o A selection of 11 Rolex Automatic Daytona – 100% Sold (Lot 2228 – 2238)

o A Cosmograph Daytona, Reference 6263, Stainless Steel Chronograph Wristwatch with UAE Quraysh Hawk Dial and Bracelet, Made for Mohammed Bin Rashid Al Maktoum, Circa 1976, sold for HK$2,250,000/ US$290,318 (Lot 2226, est. HK$1.2m – 3m/ US$155,000 – 387,000)

- Strong performances from independent watchmakers

o Philippe Dufour – Simplicity, A White Gold Wristwatch, Made In 2011, sold to an online bidder for HK$2,250,000/ US$290,318 (Lot 2293, est. HK$1.6m – 2.4m/ US$207,000-310,000)

o Greubel Forsey – GMT A Pink Gold 25° Inclined 24 Seconds Tourbillon, Worldtime And Dual Time Zone Wristwatch With Power Reserve Indication And Three-Dimensional Globe, Circa 2014, sold for HK$1,750,000/ US$225,802 (Lot 2292, est. HK$1.2m – 1.8m/ US$155,000-233,000)

o MB&F - Legacy Machine 2, Reference 02.Pl.W A Platinum Wristwatch With Two Flying Balance Wheel, Circa 2015, sold for HK$812,500/ US$104,837 (Lot 2303, est. HK$400,000 – 600,000/ US$52,000 – 83,000)

- Winning watch from the Ressence and Sotheby’s #Watchagainstcovid19 Design Competition sold to an online bidder for HK$375,000 / US$48,386 (Lot 2267)

o The proceeds will support the Covid-19 Research Programme being run by KU Leuven University in Belgium. More information on the competition and the design please visit here.

- Strong global participation with increased online biddings

o The value of lots sold online doubled Autumn 2019

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