In the month leading up to the Patrizzi & Co. auction on October 25, more than 3,500 people visited the house’s web site each day to research items included in the sale. On sale day in Geneva, about 60 bidders were present in the auction room and another 45 participated online. 70% of the 253 lots were sold in two sessions, achieving CHF6,345,600 or about $6,230,525.
Bidders from Asia, the Middle East, Europe and the USA were present in the auction room. The top selling brands were Patek Philippe, Cartier, Rolex, and Panerai. Modern pieces from Ulysse Nardin and TAG Heuer also sold very well. Commenting on the sale results, Osvaldo Patrizzi said “Today we have seen a change take place in the market.” There was a huge amount of enthusiasm in the auction room and this manifest itself in excellent results – evidently confidence is beginning to return.”
The Patek Philippe Ref. 1463 pictured below brought CHF275,000 or about $269,950. This is a stainless steel, anti-magnetic, water-resistant, round-button chronograph originally sold on November 18,1965. A pink gold Patek Philippe Ref. 1463 made in 1950 and sold on July 24, 1951 achieved CHF250,000 or about $245,200. A Patek Philippe Observatory Tourbillon that won the First Class Prize at the Geneva 1929 Observatory Timing Competition brought CHF310,000 or $304,000. These figures reflect the total amount bid, as Patrizzi & Co does not charge a buyer’s commission.
You can view the complete sale results with high resolution images at the Patrizzi & Co. website.