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Auctions: Rare And Unique White Gold Cartier Wristwatch Fetches Record $3.4 Million At Hong Kong Auction
A Cartier Cheich, a rare wristwatch awarded as a prize to consecutive Paris-Dakar Rally winners, sold for a record $3.4 million in Hong Kong, becoming the most expensive Cartier wristwatch sold at auction. The record price underscores the surging interest among collectors and speculators for rare models and designs by the Paris-based watch and jewelry maison. One of only five known examples of the Cheich, the watch was produced by Cartier as a one-off, unique piece in 2010, cased in white gold and powered by a quartz movement. Sold by Sotheby's on the first day of its 'Important Watches' auction in Hong Kong on Friday, the watch spurred a nine-minute bidding war with online, telephone and in-person bidders pushing the price to HK$26,520,000 including fees or about $3,413,124, Sotheby's said in a statement. The result eclipses the $2 million paid for a London Cartier Crash from 1991 at Christie's Geneva auction in May. That watch bested another Crash sold by Sotheby's just weeks before for about $1.99 million. Cartier Cheich in white gold sold for about $3.4 million at Sotheby's Hong Kong auction.Image: Sotheby's Founded in 1978 by motorcycle racer Thierry Sabine, the Paris-Dakar Rally was a legendary motor sports race of endurance, navigation and mechanical engineering, spanning some 10,000 kilometers (6,214 miles) from the French capital across the Sahara desert to Dakar, Senegal. An early sponsor of the race, Cartier and the brand's then-president, Alain-Dominique P...