An auction by Sotheby's in New York raised a combined $4.7 million, thanks largely to the interest in a number of platinum timepieces.

The auction house told National Jeweler in the US that the large amount of money paid for the items highlights the continued strength of the watch market.

Platinum pieces crafted by jeweller Patek Philippe brought in some of the largest amounts spent on single items, registering second and third in the overall ranking of the most expensive sales.

Overall, the second highest selling lot was a platinum split-seconds chronograph, which fetched $156,000 and contained a perpetual calendar, register, moon phases and movement, created by Patek Philippe.

The third highest selling lot was also a Patek Philippe creation, a platinum and diamond cushion perpetual calendar chronograph with a black dial, which sold for $144,000.

Sotheby's New York stated that it was pleased with the results of the event, remarking that the amount raised highlights the strength of the watch market at present.

Further, the demand for the platinum timepieces again demonstrates the demand in the luxury market for platinum jewellery, which continues to show strong growth.


Ÿ Adfero Ltd