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Wednesday, September 2, 2009

Steve McQueen’s Vintage Rolex Sells for $ 234,000 at Antiquorum Auction

a recent press release Steve McQueen’s Vintage Rolex Sells for $ 234,000 at Antiquorum Auction

New York, June 11, 2009 - Antiquorum’s extremely successful summer auction in New York which included watches and memorabilia from the late legendary actor, Steve McQueen totaled an impressive $ 5,706,324. Bids came in from across the globe including from Hong Kong, Taiwan, Italy, Germany, France and Romania.

An impressive 81% of the 416 timepieces were sold by lot and 122% sold by value. In addition to the scores of telephone, room, and commission bidders, there were 478 bidders on the internet competing for the highly collectible timepieces offered in the sale.

Steve McQueen’s timepieces and motorcycle inspired frantic bidding in the Antiquorum auction room today. After several minutes of heated competition, the winning bid for the ”King of Cool’s” Rolex Ref. 5512 was an impressive $ 234,000; twenty times its estimate and a world record for that reference. In addition, McQueen’s Scott Super Squirrel motorcycle, painted by Von Dutch, fetched an astounding $ 276,000 - double its estimate. Furthermore, The Heuer Monaco that he wore in the 1971 racing film ”Le Mans” sold for a world record $87,600.

”Today’s auction is clear confirmation that in the current market, collectors are looking for horological rarities with noteworthy provenance, such as Steve McQueen’s Rolex and Heuer. The excitement that we saw in the auction room was reflective of the desire collectors have for exceptional watches that truly stand the test of time and offer sound investment opportunities,” said Evan Zimmermann, President & CEO, Antiquorum.

Patek Philippe also attained excellent results: lot 120, the rose gold Ref. 5004 sold for $252,000 and lot 299, the pink gold Ref. 5970 obtained a noteworthy price of $132,000. Also achieving significant results was the Patek ”Limited Edition Annual Calendar with Silicon Escape Wheel”, Ref. 5250G, lot 298, bringing a record $138,000. Other remarkable prices attained by Patek Philippe were lot 410, the Platinum Ref.3970 selling for $ 144,000; while lot 184, the ”Yellow Gold Ref. 2526” sold for an incredible $ 60,000.

“The extraordinary outcome for our June auction once again confirms that Antiquorum is indisputably the world’s leading auction house for timepieces as evidenced by the exceptional participation in today’s sale. As other markets rebound from the past year’s economic decline, the demand for exceptional timepieces continues to steadily increase,” said Robert Maron, Chairman Antiquorum.

In addition, Rolex watches faired extremely well in the June sale. The ”Double Red Sea Dweller, Retailed by Cartier,” lot 382, sold for an amazing $91,200. In addition, Daytona’s once again dominate the collectors market with the Ref. 6239 Stainless Steel Paul Newman attaining $84,000 and the Pro-Hunter Black-Carbon Daytona selling for $42,000.

”We are very encouraged by by the result we see here today for our June auction, said Julien Schaerer,” Watch Director & Auctioneer, Antiquorum USA. ”We are particularly delighted to see the resurgence of prices for rare Rolex sports models as well as for limited edition Patek Philippe timepieces.”

Moreover, other high-grade luxury watches also obtained terrific results as evidenced by the Lange & Sohne ”Pour Le Merite” which attained $156,000 today, as well as the Jaeger Le Coultre ”Platinum Master Minute Repeater” which sold for an incredible $126,000.

Antiquorum looks forward, with great anticipation, to our final auction of the season on June 27th in Hong Kong, featuring an impressive collection of modern and vintage collectible timepieces.