Watch Owned By Eric Clapton Sells For $3.6 Million At Auction
Posted by Joseph Lee on 11.13.2012
But not the highest selling piece at the auction...
Reuters reports that a watch owned by Eric Clapton sold at an auction for $3.6 million. The "ultra-rare" platinum-cased watch was designed by Swiss luxury watchmaker Patek Philippe. It was purchased by Clapton ten years ago. It sold yesterday for 3.44 million Swiss Francs ($3.6 million), which is about what auctioneer Christies' estimated that it would sell for.
Christies spokesman Cristiano de Lorenzo said: "The Eric Clapton watch was bought by an Asian private collector." He added that the buyer was in the room.
It was sold as part of the semi-annual Geneva sale. The biggest prize of the auction (which ran seven hours) was a platinum chronograph by Patek Philippe, which was made in 1952 for collector JB Champion. It earned 3.78 million Swiss francs ($3.9 million), which is a new record for a watch without complications or features beyond the time display. It was bought by investment watch fund Precious Time.
The sale ended up bringing in 27.04 million Swiss francs ($28.5 million) with 96% of the 315 lots on offer finding new owners.
Last year, Clapton sold over 70 of his guitars at a charity auction, raising $2.15 million for his Crossroads drug and alcohol rehabilitation center in Antigua.