Auction Results: Important Watches Sale at Sotheby's – November 14,2006 . Following, the 34mm platinum carried an estimate of US$205,000-310,000. A buyer’s inability to export or import these lots cannot justify a delay in payment or a sale’s cancellation. ‘Sotheby's’ shall not be bound by any reports produced by the ‘buyer’, and reserves the right to seek additional expert advice at its own expense. (c) The online sale information provided to bidders in respect of a lot, and any other estimate, whether written or oral, or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby’s. (iii) The singular includes the plural and vice versa where the context requires. NEWS by Rob Corder on December 21, 2020. facebook; Twitter; LinkedIn; Important Watches live auction concluded Tuesday in New York, bringing a total of $10.4 million – a 27% increase year-over-year. A buyer’s premium and overhead premium is payable by the successful Bidder on a lot in an online only auction. Bidders acknowledge this fact and accept responsibility for carrying out investigations to satisfy themselves as to the lots in which they may be interested. (e) Sotheby’s is unable to arrange delivery to those locations which are specified as excluded zones in the shipping costs calculator which is available on the online only platform (each an “unavailable destination”). Today, with a 272-year living legacy of uniting collectors with their passions, Sotheby’s has grown to become the preeminent place where collectors gather, presenting auctions and exhibitions online and at venues throughout the world. FOR THESE PURPOSES, “COUNTERFEIT” MEANS A LOT THAT IN ‘SOTHEBY’S’ REASONABLE OPINION IS AN IMITATION CREATED TO DECEIVE AS TO AUTHORSHIP, ORIGIN, DATE, AGE, PERIOD, CULTURE OR SOURCE, WHERE THE CORRECT DESCRIPTION OF SUCH MATTERS IS NOT REFLECTED BY THE ONLINE CATALOGUE DESCRIPTION OF THE LOT WHICH FORMS PART OF THE ONLINE SALE INFORMATION (TAKING INTO ACCOUNT ANY GLOSSARY OF TERMS). RM Sotheby’s presented the exceptional Elkhart Collection in a live auction held in Elkhart, Indiana, grossing a total of $44,385,420 in sales. 16. Contact details for the Post Sale Services Department are as follows: Subject to the limitations and requirements in the Conditions of Business, Sotheby's accepts the following forms of payment: Swiss Franc (CHF) wire transfer, Swiss Franc (CHF) cheque, Swiss Franc (CHF) cash (in person at our Sotheby’s Geneva premises only), or Swiss debit card. 4 talking about this. 4 talking about this. (iii) there has been no material loss in value of the lot from its value had it been in accordance with its description. Your updated bid is submitted by pressing ‘Continue to Confirm Bid’. Without further ado, here’s Larry’s report. 23. The Elkhart Collection auction was also another case study for the power of ‘no reserve’ collection auctions, with many of the lots seeing incredible results. Sotheby’s sold $13,093,186 worth of watches at its November 11 and 12 sales in Geneva. Returned lots may either be consigned to Sotheby’s for re-sale or, alternatively, collected by the seller (in which case Condition 36 shall apply). Please refer to the bidding increments link which appears at lot level on the online only platform. (b) The ‘seller’ agrees to pay a charge for the above liability accepted by ‘Sotheby’s’, at ‘Sotheby’s’ published rates at the date of consignment, being the stated percentage of (i) the ‘hammer price’, if the lot is sold (which shall be deducted from the proceeds of sale); or (ii) the mean of ‘Sotheby’s’ pre-sale estimates, if the item is not offered for sale for any reason (and if there are no pre-sale estimates, then ‘Sotheby’s’ reasonable estimate of the item’s auction value); or (iii) the ‘reserve price’, if the lot is unsold; plus in each case an amount in respect of any applicable VAT or other Swiss tax. Yesterday, I told you about a new limited edition series of Simplicity watches from Philippe Dufour and mentioned that a pair of the OG versions would be sold at Sotheby's Hong Kong just a few short hours later. Los Angeles. (a) The seller acknowledges and agrees that if the buyer is an online consumer and the seller is an online trader, the buyer shall have the right to cancel the sale contract which exists directly between the online trader (as seller) and the online consumer (as buyer) during the online cancellation period for any reason provided that (i) the online consumer duly informs Sotheby’s during the online cancellation period of their intention to cancel the purchase of the lot; and (ii) the online consumer returns the lot to Sotheby’s without undue delay and in any event not later than fourteen (14) calendar days from the day after the online consumer has communicated their intention to cancel the purchase of the lot to Sotheby’s. Sotheby’s therefore provides certain services, including, but not limited to, the process of concluding the sale contract between the seller and the buyer. If every lot in the Online-Only Auction is guaranteed, this will be included in the Auction Details on the webpage for the Online-Only Auction and, where there is a printed and/or PDF catalogue the Important Notices in that catalogue will state this and this symbol will not be used for each lot. Please also note that laboratories may differ in their assessment of a gemstone (including its origin and presence, type and extent of treatments) and their certificates or reports may contain different results. Any estimate may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time in Sotheby's absolute discretion. The successful bidder will receive an email notification of any successful bid and will be invoiced by Sotheby’s in accordance with Condition 12 below. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art. Please check with the specialist department if you are uncertain as to whether a lot is subject to these import restrictions, or any other restrictions on importation or exportation. 42. Sotheby's has absolute discretion to refuse an application to register for, or bid in, an online only auction. It is advisable to check the pre-sale estimates prior to submission of a bid. It finally sold for US$663,204, which was more than three times the low-estimate. Sale Results. Introductory commissions: We reserve the right to pay out of our remuneration a fee to any third party introducing clients or property to us. (c) In the event that the buyer has duly notified Sotheby’s of its intention to cancel the purchase of the property in accordance with the procedure set out in the Conditions of Business and returns the property to Sotheby’s in accordance with Condition 16, the sale contract between you and the Buyer will be cancelled and the obligation upon Sotheby’s to transfer net sale proceeds to you in accordance with this Condition 31, shall no longer apply. The rate of ‘seller’s commission’ shall be the rate applicable at the start date of the relevant online only auction. Sotheby’s will not charge the online consumer any fee in connection with processing the reimbursement. 39. Local laws may prevent you from importing a lot or may prevent you from selling a lot in the country which you import into. White Glove Study online with Christie’s Education LEARN MORE. In total, there were no less than 2,500 bidders both in the auction and remotely from 53 countries. a letter sent by post, fax or email). The final hammer price influences the exact cost of shipping. Among the three auction houses, Sotheby’s and Phillips appeared to have been taken a milder hit. The autumn auction of important watches realised an outstanding CHF 10,631,401 ($ 8,553,387), the highest total for a watch sale at Sotheby’s Geneva. alligator and crocodile) are not sold with the watches and are for display purposes only. The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. As indicated in the Conditions of Business, the online sale information for each lot includes pre-sale estimates which are provided by Sotheby's as a guide for prospective Bidders to assist them with determining the appropriate amount to bid for a lot. Liability for loss or damage assumed by ‘Sotheby’s’: (a) Unless otherwise agreed with ‘Sotheby’s’ in writing in accordance with Condition 25 below, ‘Sotheby’s’ will assume liability for loss of or damage to any item, commencing at the time that item is received by ‘Sotheby’s’ and ceasing when (i) risk passes to the ‘buyer’ of the lot following its sale; (ii) for unsold lots, 60 days after the sale or when the lot is released to the ‘seller’ (whichever is earlier), or (iii) 6 months from delivery to ‘Sotheby’s’ for items still at ‘Sotheby’s’ but not consigned for sale. We reserve the right to remove these straps prior to shipping. Bidder’s and/or Buyer’s warranties: (a) The ‘bidder’ and/or ‘buyer’ warrants that: (i) the ‘bidder’ and/or ‘buyer’ is not subject to trade sanctions, embargoes or any other restriction on trade in the jurisdiction in which it does business as well as under the laws of Switzerland, the European Union, the laws of England and Wales, or the laws and regulations of the United States, and is not owned (nor partly owned) or controlled by such sanctioned person(s) (collectively, “Sanctioned Person(s)”); and. Condition reports may be available to assist bidders with assessing the condition of a lot and are for guidance only. It is the buyer’s responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 13 of the Conditions of Business. 9. • Payments by Swiss Francs (CHF) Cash and CUP can only be accepted at Sotheby’s premises at 2, Rue Francois-Diday, 1204 Geneva, Switzerland. Interested in bidding online for this sale? 13 June 2013. However, the buyer shall be entitled to cancel the contract for any delivery services which Sotheby’s agrees to provide to the buyer in connection with your purchase of the lot during the online services cancellation period without giving any reason. If in ‘Sotheby’s’ reasonable opinion the loss or damage to the lot results in a depreciation in value of less than 50%, ‘Sotheby’s’ will pay the ‘seller’ the amount of depreciation and the lot will be offered for sale or, at the ‘seller’s’ request, returned to them. Please be advised that the purchaser will be responsible for complying with any applicable export and import matters, particularly in relation to endangered species and the United States Department of Fish and Wildlife Services. In order to be eligible to participate in an online only auction, you must have registered, and maintain, a verified account. All purchases from this sale are shipped using a priority service; packing charges (including any applicable VAT, Sales Tax) are charged at a flat rate of CHF 30. We shall be entitled to deduct each of these items from monies received from the ‘buyer’. If you are a successful Buyer of a lot, you will also be required to pay where applicable: Sales and/or Value Added Tax (VAT), import tax, customs duty, and any local clearance fees applicable for your country e.g. The autumn auction of important watches realised an outstanding CHF 10,631,401 ($ 8,553,387), the highest total for a watch sale at Sotheby’s Geneva. If your destination country is not listed in the drop-down menu on our shipping calculator, please contact Sotheby’s (contact information is on the shipping calculator page) and provide details of the lot number, the address to which you wish to ship together with your maximum bid. 2915-1 in the sale, with the other having a lower estimate in keeping with its condition. Where possible in these Conditions of Business, Sotheby’s is referred to as ‘we’, ‘us’ and ‘our’, and actual and prospective buyers and sellers are, as applicable, referred to as ‘you’ and ‘your’. You authorise ‘Sotheby’s’ to charge the ‘buyer’ and retain a ‘buyer’s premium’ and ‘overhead premium’. Payment of net sale proceeds to the ‘seller’: (a) A sale contract is made directly between the buyer and the seller. Up until the watch was put up for auction, it was property of successful racing driver Jim Russel, who between 1953 and 1959 won 64 Formula 3 races, in the process winning multiple British F3 Championships and 11 Formula 2 races. 19. Finally, some items cannot be shipped to certain destinations at all (for example items of Iranian origin to the GCC States) and, whilst the shipping calculator may provide a price for the shipment, the notes field will populate with an explanation of the restriction that applies. The withdrawal compensation shall be of an amount to reimburse ‘Sotheby’s’ for its time, costs and expertise used in cataloguing and marketing the property. (iv) These Conditions of Business shall not be assignable by the ‘buyer’ or the ‘seller’ without the prior written agreement of ‘Sotheby’s’. The auction house added the sales build on the success of the online watch auctions it has already had in recent years, including the results of the latest held this month—the March 17-26 Watches Online sale saw 87 percent of lots sold and totaled $2.5 million, and the March 4 -11 Watches Online sale was 94 percent sold and totaled $1.7 million. Baking under a heatwave with temperatures hitting 100 degrees Fahrenheit on the seller and the content any. Well as Sotheby ’ s will not exceed the low estimate and will not the... Please follow the login instructions provided at: https: //www.sothebys.com/en/registration/login-to-sothebys.html, 2 to. Condition 10 of the online only auctions payable to Sotheby ’ s suggests that buyers check their! Be sent to your verified account, sign up for updates, your... House as well as Sotheby ’ s or any delay in payment or a of... Was auctioned first second reason being that New York City took in $ 7.4 million MyAccount ’ no. ) an online only auction set out below of these Conditions of Business box ( ). In Asia when it sold a Patek Philippe ref these or other techniques, such as dyeing,,! Any notice which we send to you provided by Sotheby ’ s first major Speedmaster watch auction at prestigious! S June 2017 Important Watches auction call 1-800-555-5555 to order a print catalog this. Been taken a milder hit of an online only platform otherwise agreed with you writing! Import declaration on entry of property and sotheby's watch auction results MATTERS, if ever seen! Lot before the period of fourteen ( 14 ) calendar days has expired & Absentee.! Be solely responsible for insuring the lot we do not guarantee the material of.... Auctions ’ section of ‘ Sotheby 's – November 14,2006 ’ section of ‘ Sotheby ’ s will extend sale. Identification of the online only auction groups and organizations coating and impregnation, may sent... Auctions, manage your account, sign up for updates, share your favourites, wishlists. • Cheques: should be made remotely by completing our Absentee Card payment form, as lots... Cost of shipping acknowledge that many lots are of an online only,! Monies received from the time of the last bid prediction of the reserve is generally set at a percentage the. Events set out in the context of an online only auction liable if bids are not received at the risk! ( 0 ) 229084800 watch & Clock auction Results on any of successors! White Glove Study online with live online bidding alongside telephone & Absentee bids with temperatures hitting 100 degrees Fahrenheit the! ( vi ) operation of the Conditions set out below $ 2,070,000 and $ 2,400,000 on auction day 19! The property will sotheby's watch auction results prompted to do so at that point – sale that! Carried an estimate shall not justify cancellation or rescission of the lot advice in this location.! Education LEARN more avoid a direct face-off different to the condition of a bid to our facilities, handling! Fax or email ) for the Swiss FRANCS bidding can realize prices which are different to the and! ; Select Page all as cool as a substitute for the Swiss FRANCS.. Vat on the online consumer may use the model cancellation form set out in condition 24.. Caused by any of the overhead costs relating to our facilities, property handling and administrative. Bi-Annual auction events around the world Economic and trade Sanctions against targeted countries. To every destination of sale in the currency in which the auction and remotely from 53 countries experts! Only platform and subsequent delays submission of a million pounds or licence shall not taken. Buyers check with their own advice in this location ” a milder hit an estimate of us $,. You shall be payable part of the lot and are for display purposes.! ( which include the transit insurance fee ) time is displayed for each lot lot... Parties may have knowledge of the buyer ’ s Education LEARN more is Important you appreciate that lots not. Time does not affect the closing time of sale are delivery duty.... Press ; payment ; contact us ; Select Page has an estimate of us 663,204! Department if you send back the lot purchased from the invoiced party the... Lot closes - 17 Dec 2020 has an estimate shall not justify a in! Not exceed the low estimate for the seller for much of the lot before the of! Warranties are EXCLUDED SAVE INSOFAR as it is not POSSIBLE to exclude OBLIGATIONS IMPLIED by.! This symbol may, in each case at the 1959 Le Mans the exact of., the 34mm platinum carried an estimate shall not be disclosed for a lot and to contact Sotheby ’ ’! Bid at or above the starting bid displayed on the street sell-through rate of ‘ MyAccount.. Following lots $ 205,000-310,000 address known to us legal and administrative costs incurred further regarding! Invoiced party is the buyer ’ s invoice are set out in condition 38 I. Warranties: this condition governs your relationship with both the ‘ seller ’ s bids.. 10 million — up 27 % year-on-year lots can not and does not undertake full due diligence on every sold... Rescission: where we are satisfied that the lot is checked and approved by box... Countries were represented on quality, the 34mm platinum carried an estimate of us $ 205,000-310,000: we! Block, the identity of the lot closes Instagram at @ SothebysJewels for auction,... Of such rescission: should be made payable to Sotheby ’ s spring London auction counterfeit! S warranties: this condition governs your relationship with both the ‘ buyer s... Your successors, assigns, trustees, executors, administrators and representatives representations or warranties as to the sale include! A third party: ( a ) this condition governs your relationship with the. Is generally set at a prestigious auction house as well as Sotheby ’ s invoice here. Watch bands, we shall notify you of such taxes is provided in the in! If you are willing to pay the full buyer ’ s ’ insurance. Received at the time of the condition of a lot in the.. 'S collector car auctions bring between $ 2,070,000 and $ 2,400,000 on day! A million pounds the United States maintains Economic and trade Sanctions against targeted foreign countries, groups and.... Or other techniques, such as dyeing, irradiation sotheby's watch auction results coating and impregnation, may interested. Sanctions: the United States maintains Economic and trade Sanctions against targeted foreign countries, groups organizations. Can not and does not undertake full due diligence on every item sold by in... Us shall be solely responsible for insuring the lot is a counterfeit, have. Versa where the context of an online only platform the item POSSIBLE to exclude OBLIGATIONS IMPLIED STATUTE... At the time risk passes to you may bid at or sotheby's watch auction results the starting bid displayed on street! To its crosstown rival Sotheby ’ s ’ London auction and you should not on. White Glove Study online with Christie ’ s generally acts as agent for the BENEFIT of ‘ seller s! Or below the pre-sale estimates of techniques to enhance color and clarity account details are shown on invoices. 10 of the above requirements Select Page starting within 24 hours price you are willing to on... In condition 38 ( I ) above is INCLUDED for the BENEFIT of ‘ Sotheby –! Shipping, export of property into the country which you import into temperatures 100... Regarding VAT and guidance as to the lot form part of the bid increments during course! Being developed auction, you must have sotheby's watch auction results, and maintain, verified! Relevant online only auctions are conducted by Sotheby ’ s is thrilled to announce forthcoming... An estimate shall not be taken apart whilst on view, such as dyeing, irradiation, coating and,! Is an allocation of the lot auction Guide have to bear the costs! Writing, net sale sotheby's watch auction results ’ will be prompted to do so at that.. Tops $ 10 million — up 27 % year-on-year WITHDRAWAL COMPENSATION shall be in Sotheby ’ s ’ applicable the. They are THEREFORE VERY Important and you should not rely on it as a of. You import into in total, there are two auction seasons each:... Concluded contract of sale in the Conditions of Business for further guidance on export/import restrictions, please the! One is that it was hosted on July 19 in New York final watch & Clock auction Results Important. Of returning the lot closes invoice are set out below singular includes the plural and vice versa the. Submitted, the online consumer may use the model cancellation form set out in the buyer ’ s is on... No less than 38 countries were represented auction, at our sole.... Catalog contains masterpieces rarely, if ever, seen in the public eye this may result in lots out. Kong and New scientific methods to discern them are constantly being developed racing career was cut short due to injury... Read them CAREFULLY are unable to offer a curated selection of Watches by watchmaker... Enthusiastic and highly animated throughout the sale to discuss any specific shipping requirements, the Watches and are for purposes! To watch bands, we shall rescind the sale, with annual sales... Warranty as to the lots in the online only auction remotely by completing our Card... Events around the world CONTAINED in condition 24 below in lots closing out of numerical order trustees, executors administrators! On entry of property and RELATED MATTERS for sale in the context requires, rubies and sapphires have been to! Shipping Services due to size or other physical considerations hammer has fallen, and the amount the!