Christie’s reported total global watch sales in 2010 that realised $91.2 million, the highest annual total ever achieved for watches at the global auction house.

During what has emerged as a remarkable year for investment in fine timepieces, every watch sale hosted at Christie’s salerooms in Dubai, Hong Kong, Geneva, and in New York achieved sell-through rates above 90 per cent by value, a statement said.

The top watch of the year was a unique Patek Philippe manufactured in 1943 that sold for a record $5.7 million at Christie’s Geneva. No other auction house in the world achieved as many record prices for important timepieces during 2010, it added.

“Our sale in New York marked the culmination of a truly stellar year for watches at auction, and re-affirmed Christie’s dominance of the global market for fine and rare timepieces,” said Aurel Bacs, international head of watches at Christie's.

Amongst the leading collections of the year were The Millennium Collection in Hong Kong, A Connoisseur’s Vision, Parts II and III in Geneva, and most recently, the collection of award-winning actor Anthony LaPaglia in New York, all of which exceeded their pre-sale estimate.

For buyers, the convenience of online bidding via Christie's LIVE, the company's global online bidding platform, drew in more participants with each season, he added.

Christie’s hosts eight major auctions of Important Watches each year in Dubai, Geneva, Hong Kong and New York.-TradeArabia News Service