Demand among watch collectors is as strong as ever, as evinced by last weekend’s auctions in Geneva, home to some of the finest horological dynasties in the world. (Including Baume et Mercier, Chopard, Omega and Raymond Weil, among others).
A 1949 Patek Philippe model became the most expensive steel watch in the history of watch-making when it sold for over four million dollars to a private Swiss museum.
Several watches more than doubled low-end estimates of their worth. Some almost tripled estimations.
Overall the weekend auctions saw just over 500 pieces sold for a total of more than $35 million.
Source article: http://www.reuters.com/article/artsNews/idUSL0989854920080514