A timepiece from Swiss watchmaker Patek Philippe has sold at auction for $2,965,000 (£1.76 million), more than double its $1.2 million estimate.
The yellow-gold watch with enamel dial was Patek Philippe’s first split-seconds chronograph, started in 1903 and completed and sold on 13 October 1923.
The collector’s item was part of a sale of 171 watches at Sotheby’s in New York, which fetched a total of $11.7 million (£7 million).
Katharine Thomas, Head of Sotheby’s Watch Department in New York, commented:
“It was a privilege to offer The Titanium Collection, a visionary group of unique commissioned watches by Patek Philippe, whose exceptional results are a testament to the ultimate connoisseurship of its collector. Bidding throughout yesterday’s auction was truly global, demonstrating the continued strength of the watch market worldwide.”
