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PRESS RELEASE

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Results

IMPORTANT POCKET WATCHES, WRISTWATCHES AND CLOCKS
PRIVATE COLLECTION OF VINTAGE HEUER WRISTWATCHES
A total of €1,229,350 achieved
SATURDAY & SUNDAY 28 & 29 NOVEMBER 2009 – GRAND HOTEL ET DE MILAN, MILAN

Over the last few weeks more than 3,000 people per day have viewed the online auction catalog for this sale at Patrrizi & Co’s website. The fabulous Grand Hotel et de Milan was a fitting venue for this event as was the quality and choice of the pieces in the auction, all reflecting the culture and good taste of Milan. The room was virtually full for both auctions with others watching the event on screen in an adjoining room. Bids were received from in the auction room, online, and via the telephone or written bids.70% of the pieces in this auction were sold, achieving a total €1,229,350. The auctions were spread over two afternoons.

It is worthwhile noting that, unlike other auction houses, Patrizzi & Co do NOT charge buyers commission so the total figure quoted above is the total amount bid. Owner collection of vintage Heuer - 28 November Amid tremendous interest, given the upcoming TAG Heuer anniversary, the prequel to the main Sunday auction was a one owner collection of vintage Heuer. The collection consisted of 104 vintage Heuer timepieces. For the first evening’s sale of vintage Heuer there was more than 55 people in the auction room during the two hours of the sale, with others watching the auction on the screen in the adjoining bar. Aggressive bidding for several of the pieces came from people in the room, written bids, and many telephone bids and Internet bids from all around the world, in particular the United Kingdom and Italy. The knowledge of TAG Heuer watches shown by these bidders was impressive.

Important pocket watches, wristwatches and clocks - 29 November

For this sale the room was absolutely full with many standing at the back of the room. Bids came from around the world and there was especially aggressive bidding on the collection of table clocks (Baroque, French (Louis XV and XVI), and German) made for the Italian market, which all fetched good prices. In particular, lot 184 the Maltese bracket clock made for a Duke. The rare prototypes Panerai wristwatches of the 1940s-50s and the Rolex in this auction all achieved good prices amid very spirited bidding.

Silent Auction – 28 & 29 November

The auction was also host to the world premier launch of Patrizzi & Co’s Silent Auction sales. The silent auction attracted tremendous and very active interest from watch collectors and those looking to buy a watch for personal use or as a present for someone. This world first is a sophisticated version of Osvaldo Patrizzi’s original silent sales. For those unfamiliar with a Silent Auction, simply put, it consists of individuals putting their pieces to auction with Patrizzi & Co, these pieces are displayed at the Patrizzi Auction showrooms during a two-day period (or longer as in the case of the upcoming Patrizzi & Co New York Silent Auction). Consignment of the pieces is a simple and immediate process and a reserve price is agreed. Potential buyers simply come and view/examine the pieces during the exhibition period and register to bid. Bidders place their bid and if their bid is beaten by another bid during the Silent Auction, they receive an SMS alert and they can if they wish increase their bid. Once the Silent Auction is closed, the winners of the various lots are notified by SMS.