An auction of important watches at Christie’s Dubai fetched a total of $2.68 million with a rare Patek Philippe selling for $155,000, the highest price among the lots at the sale.

Held yesterday evening at the Jumeirah Emirates Towers Hotel, the sale was the first of four being held as part of Christie’s celebration of its 10 year anniversary of its sales in the UAE city.

The sale realised a total of $2,681,688, selling 85 per cent by lot and 86 per cent by value, with bidders from 25 countries across five continents.

Comprising 176 lots, the auction sparked international interest with competitive bidding in the saleroom, on the telephones and with clients using the opportunity to bid from around the globe online.

The top lot was a Patek Philippe ref. 5101R-001 – a rare 18-karat pink gold rectangular tourbillon chronometer wristwatch with 10-day power reserve, made circa 2015 - which sold for $155,000.

Other top-selling lots included:

• A Roger Dubuis watch (ref. EX45-01SQ-20-00, circa 2009) which sold for $125,000.

• A Rolex (ref. 6265, circa 1983) which sold for $90,000.

• A Richard Mille (ref. RM011 AH WG, circa 2007) for $87,500.

• A Louis Audemars (No. 12’144) made for Breguet (No. 3’938) watch which sold for $75,000.

• A Rolex (ref. 116589, circa 2001), for $68,750.

• A Patek Philippe (ref. 5713/1G-001, circa 2009) for $59,375.

• A Rolex (ref. 116758, circa 2006) for $56,250.

• A Richard Mille (ref. RM007 AF WG, circa 2010) for $53,750.

• A Patek Philippe (ref. 5960P-001, circa 2007) for $50,000.

Watch specialist Remy Julia commented: “It was a truly special moment when we opened up the auction marathon in commemoration of Christie’s Dubai’s 10th anniversary. This sale was quite remarkable as we had the opportunity to not only add another 176 selected lots to the extensive 2,050 lots of jewels and watches offered over the past 10 years, but this was one of the largest selection of timepieces we offered for auction in the history of Christie’s Dubai. This year especially, the Important Watches auction showed the depth in the market and the request of collectors from around the world for unique, limited edition and vintage watches. As ever, buying from private collectors was very active throughout the sale, resulting in 92 per cent of the 176 lots bought privately. Now we are looking forward to offer another 59 watches in the Element of Style sale on March 17.” 

There will be two auctions today: Now and Ten at 7 pm followed by Modern and Contemporary Art (8 pm).

Tomorrow’s auction, Elements of Style, starts 7 pm.