Patek Philippe clock watch records at New York sale

The Stephen S. Palmer Patek Philippe Grand Complication No. 97912 sold for $2.3 million at Christie’s, becoming the highest-grossing Grand Complication from the brand ever sold at auction. The pink gold open-face, minute-repeating chronograph clock watch, made in 1898, also is the most expensive watch ever sold by Christie’s New York. An American private buyer purchased the clock watch, which was called “history changing” by Christie’s and given a pre-sale high estimate of $1.5 million. Overall, Christie’s New York auction of Important Watches achieved $7.9 million, with 87 percent sold by lot and 94 percent sold by value. A world auction record also was set for a Rolex Ref. 5036 when one example sold for $171,750. Timepieces from Patek Philippe dominated the auction, accounting for the top four highest-achieving lots.