Spring Luxury Week at Christie’s New York has sprung as the Important Watches Auction resulted in sales of $8,495,988, during the auction held Wednesday evening, June 13, 2012. The highest priced lot was a Patek Philippe’s two-crown world-time reference 2523/1, which sold at $1,022,500. Christie's also reported that the sale is the highest price ever achieved for any wristwatch sold at Christie’s Americas.

“The incredible strength of the watch collecting market was apparent in our salerooms today, as more than 750 bidders from as far away as Vietnam and as near as New York City competed head-to-head for nearly every timepiece offered, from vintage to modern examples,” said Christies’s Head of Sales (watches), Douglas Escribano. Along with news of the highest priced wristwatch, the auction set two sales records at Christie’s.