Christie’s Dubai Watch Auction

Christie’s Dubai Watch Auction

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.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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