The evening of April 24 marked a new high for Sotheby’s. Its “Important Watches” sale in Hong Kong became the highest-grossing watch auction in its history and the most valuable ever held in Asia. More than 300 watches were sold, reaching a total of HKD 414.2 million, about $52.9 million.
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Of that, HKD 108 million ($13.8 million), came from 82 watches in “Shapes of Cartier” collection, which drew over 800 bidders from more than 50 countries. The collection, built over 25 years by a private Cartier collector, is considered the most extensive group of vintage Cartier wristwatches ever offered at auction. It focused in particular on creations from Cartier London, the Bond Street branch known for its distinctive designs under Jean-Jacques Cartier in the mid-20th century.
The leading lot of both the collection and the sale was a rare Cartier London Crash from around 1987, estimated at $400,000-750,000. After nine minutes of bidding, it sold for HKD 15,616,000, about $1.9 million, setting a new auction record for a Cartier wristwatch. A private collector from Japan secured the piece.
The Crash model was first designed in 1967 by Jean-Jacques Cartier and his chief designer, Rupert Emmerson. Exact production numbers are unknown, but fewer than twelve original Cartier London Crash watches are believed to have been made by 1970. The example sold in Hong Kong dates from 1987 and is thought to be one of only three produced by Cartier London that year.
Several other watches from the collection also set model records. A London Tank J.J.C. Allongée from around 1992 sold for HKD 5,760,000, about $735,300. A London Tank Normale from around 1967 to 1968 achieved HKD 4,608,000, about $588,250. A London Baignoire from around 1973 to 1974 sold for HKD 4,864,000, about $620,930.
See also: A Timeless Timepiece: The Story of the Cartier Tank
Record prices were also set for other notable pieces. An A. Lange & Söhne Tourbillon Pour le Mérite, reference 701.007, sold for HKD 10,368,000, about $1.3 million. A Daniel Roth Tourbillon Skeleton achieved HKD 6,784,000, about $866,000. A Patek Philippe “La Maison Platine”, reference 2552, sold for HKD 6,016,000, about $768,000.
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“We are thrilled to have achieved the highest total ever realized for a watch auction in Asia, with a series of world auction records set this evening, including new benchmarks for a Cartier wristwatch and the A. Lange & Söhne Tourbillon Pour le Mérite, Reference 701.007. While the Cartier timepieces were the undeniable centerpiece, what proved equally exciting was the exceptional depth of bidding across both vintage watches and independent makers. With 97% of lots sold and more than half exceeding their high estimates, the result underscores the continued strength of the market and our leadership in the region.", commented Joey Luk, Global Head of Watch Collections Sourcing & Sales, Sotheby’s.
The group “Shapes of Cartier" achieved a 100% sell-through rate. Further sales from the collection will continue on May 10 in Geneva and on June 15 in New York.
