One of the most anticipated sales during Geneva’s watch auction week just concluded with a big number – the Philippe Dufour Grande Sonnerie wristwatch sold for CHF4.749 million, or about US$5.2 million, including fees.
While bidding was steady, it was restrained. Three bidders were the key movers behind the result – a phone bidders represented by Yong Ho and Alex Ghotbi of Phillips in Hong Kong and Geneva respectively, as well as an online bidder in Singapore.
At the end it was down to the Singaporean buyer and Mr Ghotbi’s phone bidder, who clinched the watch with a hammer of CHF3.9 million.
I wrote just earlier this week that I expected the Grande Sonnerie to sell for between US$4.0-5.0 million, so the result was well within my expectation.
While there was talk of a far higher number prior to the sale, a variety of factors led me to that range, including the number of known potential buyers as well as the values of comparable watches. And that was how it turned out.
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At Sotheby's Hong Kong auction.
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From May 9 to 12, 2019.