Following the launch of its exclusive Luxury & Lifestyle division this past spring, Sotheby’s held its first “A Life of Luxury” auction. The auction, which concluded on Dec. 7, reached a total of $117.3 million in sales.
Beginning on Nov. 30 at Sotheby’s New York, the “A Life of Luxury” auction sold 1,640 lots, with 50 percent of participants bidding online.
Offered across six platforms, half the lots surpassed their high estimates, with 11 cars exceeding $1 million each at the RM Sotheby’s Icons auction.
“The Icons auction attracted many thousands of visitors; both art and car enthusiasts flocked to Sotheby’s Manhattan headquarters to view over 30 iconic automobiles,” said Gord Duff, global head of auctions for RM Sotheby’s.
“There was particular excitement around our top lot, the 1959 Ferrari 250 GT LWB California Spider Competizione, which saw four bidders compete for nearly 10 minutes, sending the final price to $17.99 million.”
Highlights from other recent auctions include:
Sotheby’s 2017 jewelry sales reached $545 million, with auctions upcoming in London, Geneva and online. The auctioneer’s “Week of Jewellry” auctions achieved $62 million, led by the sale of a 5.69-karat fancy vivid blue diamond ring, purchased for $15.1 million.
Also, 40 percent of all watches and clocks on auction sold online. The category was led by a Patek Philippe Ref 2526 watch that quadrupled its estimate, selling for $325,000.
Buyers new to Sotheby’s watch sales, including the RM Sotheby’s Car Collectors, contributed to 45 percent of the Important Watches auction total.
Sotheby’s also saw more than 900 lots of fine wine sell in a single day. This was led by three bottles of 2013 Romanée-Conti selling for $55,350.
“These results for the luxury categories echo the strength we saw in the art market at the end of November and reflect the positive feeling among collectors at all levels,” said Sotheby’s chief executive officer Tad Smith.