First Sotheby's watch auction in Dubai raises $2.6m

Inaugural Dubai watch sale attracts participants from 25 different countries, with a quarter being new to Sotheby's
First Sotheby's watch auction in Dubai raises $2.6m
By Sam Bridge
Tue 20 Nov 2018 02:33 PM

Sotheby’s inaugural watch auction in the Middle East, which was held in Dubai, raised a total of $2.6 million.

The company’s introduction of watch sales in the region 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 percent of these participants were new to Sotheby’s, a statement said.

Sam Hines, Sotheby’s worldwide head of watches said: “Our first sale in the Middle East and it has been a fantastic opportunity to share our passion with both established and new collectors.

"The results achieved tonight not only demonstrate the deep interest in watches in the region but is also a further testament to the global appetite for exceptional timepieces we have seen since the beginning of the year. 2019 looks very promising and, as we feel encouraged by the strong results achieved tonight, we very much look forward to our next Dubai sale in March.”

Katia Nounou Boueiz, head of Sotheby’s Dubai, added: “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.”

Sale highlights include three watches by Mille, led by a RM004 Felipe Massa which sold for $162,000 and Chopard’s LUC Tourbillon which realised $218,750.

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