The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Tuesday, 18th April 2006 (5646 views)

Sotheby's auction house in London sold four-fifths of the lots up for auction at its recent Clocks, Watches and Mechanical Music sale.

The firm took $2.55 million as 172 of the 215 lots were sold, the National Jeweler reports. In terms of value, 89.5 per cent was sold.

Many of the pieces to go under the hammer were wristwatches, with a platinum Cartier Tank dating from around 1940 managing to raise more than $83,000. Two Rolex Paul Newman timepieces each fetched more than $50,000.

Jonathan Darracott, head of Sotheby's watch department in London, said: "Overall, we are very pleased with the results for today's sale of watches and wristwatches.

"A rare platinum Cartier Tank with original bracelet achieved the outstanding sum of [$83,731], with which we are delighted, demonstrating the strength of the market for desirable watches in good original condition."

The auction house's Important Watches and Wristwatches auction will be taking place in Geneva on May 16th.

 

« Back to Gold News stories