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Patrizzi nets more than $6.2M at October sale

October 27, 2009
This musical spyglass attributed to Piguet and Capt sold for about $293,000 at Patrizzi and Co.'s October horological auction, held at the Mandarin Oriental Hotel in Geneva.

Geneva--Sales from Patrizzi and Co.'s October horological auction in Geneva totaled more than $6.2 million, with 70 percent of the 253 lots selling.

According to the auction house, for the month prior to the Oct. 25 sale, online activity was strong, with an average of just over 3,500 visitors per day taking to the sale's online auction catalog.

As for the day of, 60 watch enthusiasts were present in the auction room, with attendees hailing from Asia, the Americas, Europe and the Middle East. In addition, 45 participated online and bidding by phone was rigorous, the auction house said.

"Today we have seen a change take place in the market," Patrizzi and Co. Chairman and Chief Executive Officer Osvaldo Patrizzi said in a media release. "There was a huge amount of enthusiasm in the auction room and this manifest itself in excellent results--evidently confidence is beginning to return."

Among the most sought-after pieces were an art deco table clock, chinoiserie travel clock and "Mystery Barometer," all from Cartier, as well as a Piguet and Capt automaton musical spyglass and a rare complete set of lady's savonette-form watch, fob, brooch, earrings, ring and matching chain from 1860.

The Cartier Mystery Barometer (lot 229), an extremely rare barometer crafted from silver, rock crystal, coral and black and red lacquer, sold for about $127,000, while the brand's pendulette chinoiserie "Ecran" table clock (lot 228), an eight-day duration, art deco timepiece crafted from gilt silver, coral, platinum, diamonds, black lacquer and mother-of-pearl, sold for about $185,000. A smaller chinoiserie pendulette (lot 227) in gold and platinum with diamonds, jade, onyx and enamel, and inlaid in its original Cartier fitted box, sold for about $166,000.

The Piguet and Capt spyglass (lot 111), circa 1805, crafted in 18-karat gold and enamel, with a pearl-set musical spyglass featuring a concealed automaton scene and built-in watch, sold for about $293,000.

As for the savonette-form watch in 18-karat gold and enamel with matching fob and diamond jewelry pieces, the complete set (lot 110) fetched about $63,000.

Additional brands that sold well in the sale included Panerai, Patek Philippe and Rolex, as well as modern pieces from Ulysse Nardin and TAG Heuer.
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