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AuctionsApr 08, 2020
Sotheby’s Offers 'Watches Weekly' Auctions
Its watch division will unveil a new selection of watches for sale online every seven days through April.
This Paul Newman Daytona Ref. 6241, circa 1968, is being offered in the first “Watches Weekly” sales, open for bidding until April 8.
New York—Sotheby’s Watch Division has added weekly online auctions to its sales calendar.
The rolling sale format will offer a new selection of watches every seven days.
The format launched last week, with a sale starting on April 1 of 19 Rolex watches and rare pieces by Audemars Piguet. Bidding will end today (April 8), at which time a new selection of watches will be revealed.
Highlights of the first sale, “Collectors Wristwatches Manufactured by Rolex and Audemars Piguet,” are a rare circa 1975 Rolex Daytona Ref. 6263 in stainless steel with the collectible UAE Quaraysh Hawk dial (estimated to sell for between $206,400 and $309,500) and a Rolex Paul Newman Daytona Ref. 6241, circa 1968 (estimated to sell for between $129,000 and $258,000).
Watches Weekly will continue with “Patek Philippe Design and Horology” from April 8 to 15, “Swiss Wristwatches with no reserve” from April 15 to 22 and “Refined Classics Manufactured by Piaget and The Atmos Clock” from April 22 to 29.
The company said the weekly series is the latest development in its wider strategy of “constantly exploring new ways to connect with watch collectors and respond to this evolving market.”
“This move is grounded in countless conversations with clients over the course of recent months and has only been reaffirmed by feedback received in recent weeks as a result of the current environment,” said Sam Hines, worldwide head of Sotheby’s Watches.
“Collectors are looking for more flexibility and a swifter turnaround between appraisal and sale. They are also increasingly confident to buy important pieces online.”
The auction house added the sales build on the success of the online watch auctions it has already had in recent years, including the results of the latest held this month—the March 17-26 Watches Online sale saw 87 percent of lots sold and totaled $2.5 million, and the March 4 -11 Watches Online sale was 94 percent sold and totaled $1.7 million.
According to Sotheby’s, online-only auction sales doubled in value between 2018 and 2019.
In addition to the remainder of the Watches Weekly auctions this month, the house also has two Watches Online sales coming up in May, “Important Watches” and “Masterworks of Time, Part III” auctions scheduled for June in New York, another “Important Watches” sale planned for July in Hong Kong and a single-owner sale slated for July in London.
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