Are classic timepieces a good investment in this still uncertain economic climate? Christie’s’ record-breaking $91 million worth of watch sales clocked (ahem) in 2010 shouts a resounding “hell yes”. The top timpiece of the year at the famed firm was a unique Patek Philippe gold chronograph Reference 1527 (above) manufactured in 1943 that sold for a record-breaking $5.7 million – most likely to Patek’s own museum – at Christie’s in Geneva in May. Pateks ruled the roost, of course, accounting for the top eight prices out of ten achieved across the board, the upper five all topping $1 million apiece.
The odd man out was a $706,000 Daniel Vaucher one-off. The $91 million is the highest annual total ever achieved for watches at the global auction house, and beats all the others hands down. Christie’s’ watch auctions across the globe achieved sell-through rates above 90% by value. So with such positive signs, why wait for some fancy-ass auction to amass a collection? There are over 17,000 timepieces on James to take a swing at, from a $1.28 million diamond Patek to a $99 antique Minerva pocket watch and everything in between.