Watch This Bid: Time Pieces Tick Past Expectations at Sotheby’s

When time is money - and history - bidders come running. Sotheby’s New York just proved it knows how to make every second count, as its Important Watches: Take a Minute auction achieved $20.4 million, marking its second-highest total for a watch sale in the Big Apple. A packed house turned up for the remarkable wristwatches that really wound up the excitement - each representing the pinnacle of design, heritage, and horological romance.

With martinis in hand and sushi on standby, over 1,300 collectors from around the globe converged - not for passing fads, but for ticking legends. These weren’t just watches; they were stories worn on the wrist, relics of a bygone era made by masters and coveted by connoisseurs.

The undisputed showstopper? A mythical Patek Philippe Ref. 2499 ‘Second Series’ from 1957, cased in ultra-rare pink gold and graced with the Gobbi-Milano signature. The only known example of its kind, this unicorn of a watch fused Swiss precision with Milanese flair - and sent the room into a frenzy, ultimately fetching $4.32 million. That result makes it the most expensive wristwatch sold at auction this year.

Another watch which commanded collector’s attention was a Rolex Ref. 6241 ‘Paul Newman’ Daytona, sporting a gorgeously aged tropical dial from 1968. Equal parts movie-star cool and motorsport bravado, this black-and-white beauty sold for $914,400 - a world record for the reference. Somewhere, Paul Newman is nodding in approval.

Also grabbing the spotlight: a steel Patek Philippe Ref. 1463 ‘Tasti Tondi’ from 1962, complete with incredibly rare applied Breguet numerals, a setup tailored for the U.S. market and seen fewer than 100 times across all metals. After another fierce bidding war ensued, the chronograph closed at $533,400. These waterproof chronographs - the first to be made by Patek - have long captivated the imagination of collectors, and this example was no exception.

The final member of this auction Fab Four? A pink gold Patek Philippe Ref. 2524/1 Minute Repeater with a Gübelin dial - one of only two known in this metal, and the only one to have been ‘souble-signed’. This wristwatch had been out of the public eye since the legendary 1989 ‘Art of Patek Philippe’ auction, and it came back with a bang - or rather, a chime - selling for $1.6 million.

As the sale kept ticking along, there were a number of other Patek Philippe highlights with no fewer than seven other Patek minute repeaters, a white gold ‘Padellone’ Ref. 3448, and a sapphire-studded platinum Nautilus all sparking heated interest. A cloisonné enamel World Time and a Ti_ any & Co. minute repeater pocket watch - each a tribute to timeless artistry.

As Geoff Hess, Sotheby’s Global Head of Watches, remarked, “Passion, not speculation, is driving the market. True connoisseurs are leading the way, while speculators remain on the sidelines.” Lead they did, as this auction wasn’t just about the hammer price - it was about the heartbeat beneath the dial. Each example is a treasure that connects generations and endures beyond the moment of the gavel falling.

*As Featured in the 8th Edition of the Malta Sotheby's International Realty Portfolio Magazine 2025*