Omega watch auction nets $5.4 million in sales
April 17, 2007
Geneva—"Omegamania," organized by
Antiquorum Auctioneers, brought in about $5.5 million, selling all 300 lots for triple their presale estimates, and setting a world record for the highest price ever paid for an Omega watch at auction.
The top record-setting lot was a Platinum Constellation Grand Luxe, circa 1953. It went to a Swiss bidder for approximately $351,000, who held off fierce competition from Italy and Japan.
Another choice item was a Seamaster Planet Ocean, worn by current
James Bond actor Daniel Craig during the filming of
Casino Royal. An anonymous bidder from the United Kingdom came away with the prize for about $213,000, after intense bidding.
The James Bond connection carried over to another sale, a ring watch once owned by Bond babe Ursula Andress and designed by Andrew Grima in 1972. It sold for about $216,450.
Watches at the auction sold for well above their estimated presale prices. Two original Speedmasters, the watch that became the first and only model ever to be worn on the moon, sold for 30 times more than the current retail price.
"Omegamania has confirmed the arrival of Omega in the top echelon of collectors' brands," Antiquorum founder and chairman Osvaldo Patrizzi said in a statement, adding that the timepieces join the ranks of other collectable brands such as Patek Philippe and Rolex.
Stephen Urquhart, president of Omega, said the company is thrilled with the outcome of the auction, which exceeded expectations.
"It has shown all watch fans the fantastic richness and scope of the brand and its heritage. Today's auction will remain as a milestone in Omega's history," he stated.
Bids were entered from the room, online, via telephone and, for the first time, via satellite from the BaselWorld trade show. According to Antiquorum, 48,500 people worldwide followed the proceedings via the Internet.
Prior to the auction, a two-month world tour as well as a catalog raised awareness and attention. Omega refurbished all the timepieces and provided a two-year warranty on each lot, a first in the auction world, according to organizers.
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