The most expensive pocket watch sold at auction is the Henry Graves Jr Supercomplication, a gold, double-dialled watch crafted by hand between 1925 and 1932 by Patek Philippe of Switzerland. On 11 November 2014, the watch was sold for 23,237,000 Swiss Francs (£15,154,312; $24,073,532) at Sotheby’s in Geneva, Switzerland.
The watch measures 74 mm (2.91 in) in diameter (the same width as a typical smartphone) and is 37 mm (1.45 in) thick, including the domed glass covers on the front and rear faces. Despite its relatively compact size, it weighs 536 grams (1 lb 2.9 oz), which gives an idea of how densely packed the internal mechanisms are. It was sold in its original tulipwood box, inlaid with a mother-of-pearl panel featuring the arms of Henry Graves Jr (1868–1953) – the American banker who commissioned the piece in 1925.
The name of the piece is a reference to Graves’ desire to have the most “complicated” watch in the world. (In horogical terminology, a “complication” is any feature that a mechanical timepiece can perform in addition to telling the time. Common complications include calendars, phase-of-the-moon displays and stopwatch functions.)
The Supercomplication required three years of study in astronomy, mathematics and precision mechanics before a viable design could be finalized. The enormously elaborate mechanism uses 900 individual parts including 430 screws, 110 wheels, 120 various movable parts and 70 jeweled bearings. It took the artisans at Patek-Phillippe – assisted by several other prominent Swiss watchmakers acting as sub-contractors – more than five years to assemble the watch, finally delivering it to Graves on 19 Jan 1933.
The 24 “complications” of the watch include a star chart (calibrated to show the night sky over Graves’ Manhattan apartment on any given night) and a multi-year calendar that will be accurate until the year 2100, as well as various alarm and stopwatch functions. This number of complications remained unbeaten until 1989, when Patek-Philippe released the 33-complication “Calibre 89”. It remains, however, the most complicated watch to have been made without the assistance of computers.
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History of Auctioneering
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In 1964, Sotheby’s expanded itself by buying Parke-Bernet, the USA’s largest fine art auction house at the time. Today, it’s noted as the oldest and largest international firm of fine art auctioneers in the world. It has 80 locations across the globe and sees an annual turnover of about $4 billion.
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In 1786, Christie’s sold the library of the famous Dr. Samuel Johnson, creator of the Dictionary of the English Language (1755). This collection included insightful books on a variety of topics, including but not limited to medicine, law, math, and theology.
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In 1824, The National Gallery was founded in London. It opened its doors with many purchases from Christie’s. New York’s MET museum also made its first connection to the London market through Christie’s, sending them their first lot for sale in 1958. Today, Christie’s boasts a worldwide influence with locations in Europe, Asia, Africa, and the Americas.
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In June 2019, French-Israeli telecom businessman Patrick Drahi made an offer to buy Sotheby’s for $3.7 billion. This meant that following the acquisition, Sotheby’s could be more flexible in its deals now that it didn’t have to justify expensive guarantees or other benefits to shareholders. This new structure also gave comfort to their higher-profile buyers who would rather not be scrutinized by the public eye. Following the adoption of this new private curtain, the comparison between Sotheby’s and Christie’s was more strongly apples to apples than ever before.
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The auction by candle also played a pivotal role in defining legal history. It was used as a standard procedure in the Court of Chancery, where trust property was sold off. The Sales of Land by Auction Act 1867 officially made it lawful to pay commission to an auctioneer, marking a significant milestone in the auctioneering profession.
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The most valuable picture postcard in the world was sent by Theodore Hook Esq. to himself in 1840 and was bought at the London Stamp Exchange auction, UK on 8 March 2002 by collector Eugene Gomberg (Latvia) for £31,758.75 ($45,370.60). It is also considered to be the oldest postcard in the world.
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The oldest bottle of wine to have been sold at auction was a bottle of 1646 Imperial Tokay, which was bought by John A. Chunko of Princeton, New Jersey, USA and Jay Walker of Ridgefield, Connecticut, USA for SFr 1250 (£;405) including buyers premium at Sothebys, Geneva, Switzerland on 16 Nov 1984.
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The most expensive wine sold at auction is a Romanée Conti 1945 Domaine de la Romanée-Conti bottle, sold at $558,000 (£422,801; €481,976) including premium, auctioned by Sotheby’s in New York, USA, on 13 October 2018.
The 73 year old French Burgundy bottle, part of a 600 batch produced by Domaine de la Romanée-Conti, sold more than 17 times the original asking price of $32,000 (£24,246; €27,640). The mark up in the bottles value is suspected to be a result of Chinese market’s interest in French Burgundy. In addition, the bottle was sold by Robert Drouhin, patriarch of Maison Joseph Drouhin.
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A Batpod motorcycle used in the filming of The Dark Knight Rises (USA, 2012) sold at the 2016 Prop Store Live Auction by Prop Store (UK) on 27 September 2016 for £312,000 ($404,393).
The Batpod was the “hero” vehicle used for filming close-ups, meaning that it had more detail than others used for filming at long distance but is largely non-functioning. The motorcycle was designed by Christopher Nolan and production designer Nathan Crowley, and brought to life by special-effects artist Chris Corbould, who made six of the vehicles. Its pre-auction estimate was between $80,000 and $110,000, so it secured about four times the expected price.
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