Clock Sells for Record $2.3 Million at Sotheby’s Auction in Hong Kong
Posted April 9th, 2013 | by Update Metro
An anonymous buyer paid over $2 million for “The Magpie’s Treasure Nest” clock, an extravagant Patek Philippe piece beset with diamonds, rubies, and a 104-Carat oval tanzanite. This piece sold for 3 times the estimate at Sotheby’s Auction House in Hong Kong, and it was the most ever paid for a Patek Philippe clock at auction.
Sotheby’s six-day auction in Hong Kong ended [Sunday] night with a total sale of HK$2.18 billion ($281 million), led by wines from El Bulli’s cellar and a jeweled Patek Philippe clock that set an auction record for a clock by the Swiss timepiece maker.
“The Magpie’s Treasure Nest Clock,” made by Patek Philippe in 1992, sold for HK$18.04 million, compared with a presale high estimate of HK$5 million.
The 52-centimeter (20.5 inch) high clock weighs 15.1 kilograms (33.2 pounds), with 24.95 carats of diamonds, 6.02 carats of sapphires, rubies weighing 13.17 carats and one oval tanzanite weighing 104.75 carats, according to the Sotheby’s catalog.
The clock was the most expensive lot in the Sotheby’s fine watches sale held on April 7 in Hong Kong that raised HK$221.5 million, the most ever for a Sotheby’s sale of timepieces. (Read full article)
You can go here to see CNN video coverage of this record-breaking sale.
Visit sothebys.com for further information on this and other auctions, as well as how to absentee bid or bid online for upcoming auctions this spring.
