Today May 14, 2014 Sotheby's Important Watches Auction took place in Geneva. While this auction didn't bring as much attention and high bidders as the Christie's auction two days ago, some interesting selling activity took place.
We do have to say, that we are quite surprised that many very interesting lots did not sell and those lots that were expected to fetch very high amounts, ended up realizing mediocre amounts under the low estimate or right in the middle. Really nothing as exciting as what we'd seen at the last four Christie's auctions. However, an exception to what was the general behavior at the auction was Lot 298 featuring this rare Panerai ref. 6152/1 Luminor circa 1955, which sold way above its estimate that was originally set between 180,000-360,000 Swiss Francs.
This extremely rare and historical stainless steel Panerai property of the descendants of Admiral Birindelly, sold for the outstanding amount of 425,000 Swiss Francs —at today's exchange rate, approximately $477,800 USD. Some of the reasons why this watch fetch such a high amount —besides its provenance— it's because this rare example is fitted with a very unique prototype bezel, the iconic crown guard patented by Panerai and a manual winding movement calibre 15"' by Rolex.
Additionally, the case back on the watch is stamped by Rolex and it includes the correct information regarding the reference number for this particular watch. Ladies and gentlemen, it really doesn't get much better than this when it comes to vintage Panerais. Paneristi, keep searching for another grail like this and you might find it.
For those wondering the dimensions of its generous case, this watch is fitted with a cushion-shaped case measuring 57.5 mm x 46 mm x 19 mm. For more info on Sotheby's click here.