SINGAPORE – The Phillips’ watch auction in Geneva last month achieved sales amounting to a staggering US$74.5 million (S$101.7 million) – almost double the previous record of US$41.4 million and far exceeding the pre-sale estimate of US$41.2 million.
The event drew collectors and buyers from more than 80 countries, 2,300 registered online bidders and 400 or so attending in person. Half the watches were sold to online bidders with 12 lots exceeding US$1 million each while a single watch was sold for a record US$5.18 million.
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