East Dennis, Mass. – Twelve phone bidders and at least one competitive floor bidder chased a rare Patek Philippe 18kt gold chronograph wristwatch to a final price of $276,000 during Eldred’s Fine and Decorative Art Auction on Saturday. The watch, which came from a local consignor, sold to a phone bidder.

“The watch has a rare split second movement which allows for very precise record keeping. The complication was introduced by Patek Philippe in the late 1930s or early 1940s for timing horse or car races,” said Leah Kingman, head of Eldred’s European Decorative Arts department. “The piece’s rarity brought out competitive bidders from around the world. The atmosphere in the room when it came on the block was definitely one of excitement, and the bidding was frenetic. On multiple occasions bidders jumped the bid substantially over what the auctioneer was asking for and a handful of bidders stayed active to the very end. The final price is comparable with existing auction records.”

The diverse sale included 475 lots of jewelry, ceramics, glass, Continental fine and decorative arts, and 20th Century furniture and paintings. In addition to the watch, other highlights include three Tiffany Studios lamp bases, which sold over estimate for $1,200, $3,600 and $5,400, and 22 lots of paperweights from a single-owner collection, which sold for a combined $18,030, more than double the pre-sale estimate. An unsigned Dutch harbor scene was the day’s sleeper, bringing $2,250 on a $200/300 pre-sale estimate.

“We continue to see strong results for quality offerings across a variety of categories,” Kingman commented.

The Fine & Decorative Art Auction was preceded on Friday by the Rosenthal Collection auction, comprised of 325 lots from the estate of Rolf and Elizabeth Rosenthal. Rolf Rosenthal, who lived on Long Island and owned a medical advertising agency, collected a wide range of items, from 17th Century German sculpture to Chinese porcelain to George Nakashima furniture. Highlights from the very eclectic auction included a scroll painting on paper by 20th Century Chinese artist Qi Baishi, which sold for $5,100, a Kangxi Period Imperial Yellow Glaze Porcelain Writer’s Coupe, which brought $4,600 on a $800/$1,200 pre-sale estimate, and a set of four swiveling armchairs by Leon Rosen for the Pace Collection, which sold for $2,040. Proceeds from the sale will benefit the Rosenthal Family Foundation, which supports animal protection and environmental sustainability through a grants program.

More than 300 bidders took part in the two auctions, which were conducted at the firm’s headquarters in East Dennis, Mass.

Eldred’s next sale, the Fall Americana and Paintings Auction, will be held Thursday, Friday and Saturday, November 17-19. The sale, which will include nearly 1,200 lots, features items from the Howland Scrimshaw Collection, folk art and Americana from a Rhode Island collection, and paintings and prints from the Jack Lichtenstein Collection. The firm’s fall auction season will conclude with the Asian Art Auction on December 1.

About Eldred’s

The Robert C. Eldred Co. is New England's oldest established antiques and fine arts auction house, now in its third generation of ownership under the Eldred and Schofield families at the same location on Cape Cod’s historic Old King’s Highway in East Dennis, Massachusetts. The firm also has an office at 5 Roosevelt Avenue in Mystic, Connecticut. Eldred’s conducts approximately 25 auctions per year encompassing Americana, paintings, Asian art, European decorative art, maritime antiques, sporting art and collectibles. It was recently named one of the top worldwide auction houses by Art + Auction.

For more information please call (508) 385-3116 or email info@eldreds.com.

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