Christie’s Dubai Watch Auction
“It’s very clear there’s an appetite for watches across the region,”
Friday, Patek Philippe watch made for King Farouk of Egypt in Y 1944 sold to an unidentified buyer for $912,500 at Christie’s in Dubai Friday, a record sum for a timepiece auctioned in the Middle East
The 18-carat gold Patek Philippe Ref. 1518 was estimated to be worth as much as $800,000 by the auction house, which concluded its 23rd auction season in the region.
A Rolex GMT-Master made for Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum fetched $162,500, surpassing the estimate of $120,000-$160,000.
The sales total for the auction was $7.1-M.
“It’s very clear there’s an appetite for watches across the region,” Michael Jeha, Managing Director of Christie’s Middle East, said in an interview.
Have a terrific Easter weekend.