Sotheby’s Hong KongFine Timepieces auction on May 26 raised US$2 million withPatek Philippetaking the three top lots.

A Patek Philippe minute repeating tourbillon wristwatch Ref. 3939HJ sold for $300,000, within its $258,000 ‑ 362,000 estimate, while a platinum perpetual calendar chronograph wristwatch, Ref. 5970P sold for $166,667, within its estimate, and a brass solar-powered desk timepiece with cloisonné enamel, Ref. 1321 Papillons Butinants also sold for $166,667, slightly about its estimate.

Sharon Chan, head of watches, Sotheby’s Asia, noted international participation by bidders in the room, on the phones, as well as via the Internet, driving the sell-through rates to 92.5% by value and 87.9% by lot.

“Highly complicated watches sold well, while pieces showing fine craftsmanship and creative design also achieved outstanding results, testifying to the diversifying tastes of the market,” she said.

A Legacy Machine No 1 by MB&Fsold for $72,120, while a Ballon Bleu flying tourbillon No 6 by Cartier sold for $67,310, and a set of four stainless steel automatic wristwatches from the Desert Storm collection by Blancpain sold for $51,290, all well above their estimates.