Auction house Heritage Auctions will present its Signature Timepieces Auction, in New York City, this November. The featured lot is a one-of-three only ever made Audemars Piguet Diamond, Platinum and 24k Gold Quantieme Perpetual Automatique (above left).
The pre-auction estimate on the selling price for this rare wristwatch exceeds $50,000. Two Patek Philippe watches flesh out the top three lots. A Patek Philippe 2526 and an 1893-made pocket watch have pre-auction estimated values at $30,000 and $25,000, respectively.
"This extravagant timepiece carried a recommended retail price of $170,000 in 1996," said Heritage’s Director of Timepiece Auctions Jim Wolf. "Its impact and beauty aren’t diminished one bit 16 years later. We’ll see if it lives up to the company’s retail expectations or if a smart collector gets a great buy."
The Ukrainian Institute of America will host the Signature Timepieces Auction, at the Fletcher-Sinclair Mansion, on November 18, 2011. "The Patek Philippe 2526 is of particular note due to its flawless enamel dial, which is very rare to find in this model," said Wolf. "This one, in fact, is the finest one Heritage has seen. The reference 5205 in this auction, a watch launched at Basel World in 2010, is a very popular one with collectors and this piece is in superb condition."
Heritage Auctions, with more than $750 million in annual sales, is the third largest auction house worldwide. For additional information, visit HA.com.
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