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Sotheby's first auction in the Middle East totals $2.6 million

Sam hines, Sotheby's

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Three watches by Mille sold, led by a RM004 Felipe Massa which made $162,000

Thursday 22, November 2018 BY MULLALLY WILLIAM

Sotheby's first watch auction in the Middle East totalled $2.6 million in Dubai.

 

The company’s introduction of watch sales in the Middle East follows the increasing activity of collectors from the region in our international sales in this category in recent years.

 

Altogether the sale attracted participants from 25 different countries across the world, and 25 per cent of these participants were new to Sotheby’s.

 

Independent watchmakers have become the stars of the horology market. Today’s sale was led by the designs of Richard Mille and MB&F, who have revolutionised traditional watchmaking with their cutting-edge timepieces.

 

Three watches by Mille sold, led by a RM004 Felipe Massa which made US$162,000. This titanium semi-skeletonized split-seconds chronograph, equipped with the caliber RM004-V2 was especially designed for the intensive environments of Formula 1 racing (lot 59. $ 110,000 - 170,000).

 

The “Horological Machines” from the Swiss brand MB&F (Maximilian Busser and Friends), turn traditional watchmaking of the highest craftsmanship into futuristic, fiercely unconventional timekeeping machine. Inspired by the 1980s Japanese cartoon Captain Future, The HM6 limited edition in pink gold, circa 2016 made $ 162,500 (lot 94, est. $100,000-200,000). 

 

Among the other most valuable lots offered was Chopard’s L.U.C Tourbillon which realised $218,750. This is a very rare limited edition white gold, diamond and sapphire-set tourbillon wristwatch with power reserve indication, circa 2007. The L.U.C. 4T calibre is unmatched for its reliability and precision. The tourbillon carriage of this watch is made of 62 parts and its balance oscillates at a rate of 28’800 vibration per hour. (lot 27, est.S$ 150,000-250,000).

 

“Since Sotheby’s opened the gallery in Dubai last year, we have been continuously looking to expand what we offer clients in the region, and to bring the expertise of our international specialists directly to their doorsteps. We have long known that our clients in the Middle East are passionate and knowledgeable about the watch market, but it has been hugely exciting to see this reaffirmed with this week’s sale and exhibition. This auction, along with the Boundless: Dubai, last year are just the beginning of many new initiatives Sotheby’s is planning to launch in the UAE," Katia Nounou Boueiz, Head of Sotheby’s Dubai, said.

 

TAGS : Sotheby's, watches, auction, dubai

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