As Christie’s prepares to ignite its first watch auction of the year, scheduled from 27 March to 9 April in Hong Kong for the 2024 spring season, the result of the local chapter is bound to set the tone for what lies ahead. 15 live and online auctions are in the offing in 2024, studded around the globe in various watch capitals, for enthusiasts and discerning collectors to congregate and bid as the hammer rises and falls with clockwork precision.
On 27 March, Christie’s is holding its online auction, with a live one following in May, and the attention of the watch world will be directed at the city for one simple reason: the numbers. Last year’s sales, particularly the ones from this past November, has made the Hong Kong chapter the cynosure of all eyes. On one autumnal evening, the auctioneers clocked in record global sales and participation from 39 countries spanning five continents. Important watches, those of historical value, the rarest of rarities, and mint collections were up for grabs; Christie’s presented three live watches auctions in Hong Kong and achieved a total of HK$222 million—the second-highest autumn sale at Christie’s Asia, ever.
In fact, Hong Kong established a new record sale total of HK$696 million, representing a 15 per cent year-on-year increase. Christie’s Hong Kong also achieved the highest price for any watch auctioned online, when Patek Philippe’s “Sky Moon Tourbillon” Ref. 6002G-001 attained HK$45.4 million in the Watches Online: Top of the Time auction.
“2023 defined a standout year for luxury with record growth across all departments. Together, Watches, Jewellery, Handbags, and Wine contributed US$1 billion to Christie’s annual global auction results, achieving the strongest-ever departmental sales total. Watches alone contributed US$234 million (HK$1.83 billion), representing the highest annual result ever achieved for the category. Whether the watches event is live or online, a key focus is to ensure seamless access to our auctions as we cater for a global clientele operating in physical and digital spaces,” says Emmanuel Danan, global managing director, luxury at Christie’s.
“Patek Philippe’s ‘Sky Moon,’ which sold online in Hong Kong at US$5.8 million (HK$45.4 million), is a strong indicator of the shift that is underway and gaining momentum, also due to 38 per cent of Christie’s global watch clients being millennials,” Danan reflects.
Highlights for horologists run the gamut, from a diamond-studded Cartier to a colourful novelty like Audemars Piguet’s Royal Oak Offshore Music Edition. Here are five watches from the Watches Online: The Hong Kong Edit auction that caught our eye:
HK$180,000–HK$350,000
HK$400,000-HK$800,000
Estimate: HK$350,000-HK$700,000
HK$320,000-HK$650,000
HK$1,000,000–HK$2,000,000
Watches Online: The Hong Kong Edit
27 March–9 April
For more information, visit onlineonly.christies.com.
