(h) Sotheby’s reserves the right, in our sole and absolute discretion, to: (i) reject, revoke or refuse to accept any bid submitted for a lot using the online only platform even those bids which have previously been accepted; (ii) to withdraw any lot or cancel the online only auction whether prior to or during the online only auction and Sotheby’s shall have no liability whatsoever in connection with such withdrawal or cancellation; (iv) to restart the bidding on a lot at any time during the online only auction. Launched in November 2014 by Aurel Bacs and his partner, Livia Russo, the department was established in response to the ever-increasing need for today's collectors to easily access scholarship, guidance and quality across the board. It finally sold for US$663,204, which was more than three times the low-estimate. (ii)             return the item to ‘Sotheby’s’ in the same condition as at the date of sale to the ‘buyer’ and be able to transfer good title in the item, free from any third party claims arising after the date of the sale. November 2006. Learn more! We have achieved outstanding auction results across all major makers including military Rolexes and complicated Patek Philippes as well as independent watchmakers such as George Daniels and Kari Voutilainen. THE CONDITIONS SET OUT BELOW AND ALL OTHER TERMS, CONDITIONS AND NOTICES SET OUT ON THE ONLINE ONLY PLATFORM INCLUDING, BUT NOT LIMITED TO, THE ONLINE SALE INFORMATION (TOGETHER THE ‘CONDITIONS OF BUSINESS’) FORM THE TERMS ON WHICH SOTHEBY’S CONTRACTS WITH ACTUAL AND PROSPECTIVE SELLERS AND BUYERS WHICH PARTICIPATE IN AN ONLINE ONLY AUCTION HOSTED BY SOTHEBY’S AND ITS PARTNERS ON THE ONLINE ONLY PLATFORM. BROWSE THE LOTS FOR SALE IN THE ONLINE ONLY AUCTION. (ii)  the funds used for purchase and settlement of the lot(s) are not connected with nor have any link to nor are derived from any criminal activity, including without limitation tax evasion, money laundering, terrorist activities or other criminal activity, and the ‘bidder’/‘buyer’ is neither under investigation, nor has been charged with or convicted of without limitation, tax evasion, money laundering, terrorist activities or other criminal activity. The second reason being that New York City was baking under a heatwave with temperatures hitting 100 degrees Fahrenheit on the street. If we or the ‘buyer’ consider any of the warranties listed below to be breached in any way, either we or the ‘buyer’ may take legal action against you. 12. (b)             The ‘seller’ agrees to pay a charge for the above liability accepted by ‘Sotheby’s’, at ‘Sotheby’s’ published rates at the date of consignment, being the stated percentage of (i) the ‘hammer price’, if the lot is sold (which shall be deducted from the proceeds of sale); or (ii) the mean of ‘Sotheby’s’ pre-sale estimates, if the item is not offered for sale for any reason (and if there are no pre-sale estimates, then ‘Sotheby’s’ reasonable estimate of the item’s auction value); or (iii) the ‘reserve price’, if the lot is unsold; plus in each case an amount in respect of any applicable VAT or other Swiss tax. All lots are offered for sale in the condition they are in at the time of sale in the relevant online only auction. The maximum amount of compensation shall be the ‘hammer price’ of the lot, plus the ‘buyer’s premium’ and ‘overhead premium’ received by ‘Sotheby’s’, and shall exclude any indirect or consequential loss or damage. At Christie’s we also recognize that collectors are often looking for a specific watch, or are seeking to buy or sell a timepiece outside … (b) Bidders acknowledge that many lots are of an age and type which means that they are not in perfect condition. 27. This list of most expensive watches sold at auction documents the watches sold at auction worldwide for at least 1.5 million US dollars.The final price listed includes the buyer's premium paid to the auction houses, and has been converted to US dollars, if needed, according to the currency exchange rate at the time of auction. Sales and Use Tax Buyers from outside of Switzerland should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, the Use Tax payable on import of purchased items to certain states of the USA). If any written notice is delivered by hand, it shall be treated as having been received at that time and, if any written notice is sent by facsimile, it shall be deemed to have been received 24 hours after sending. For further guidance on export/import restrictions, please refer to the Guide to Buying in an Online Only Auction. 0 Items. NEXT AUCTION. Personal details: If we so request, each of the ‘buyer’, the ‘seller’ and any bidder at auction agree to provide (in a form acceptable to us) written confirmation of their name, permanent address, proof of identity and creditworthiness. 1. By Stellene Volandes Mar 27, 2020 You accept and agree that a bid is submitted using the ‘Continue to Confirm Bid’ button and increased bids are submitted as set out in (d) below. However, these Conditions of Business shall be binding on any of your successors, assigns, trustees, executors, administrators and representatives. We are also delighted to offer a curated selection of watches by independent watchmaker Jean-Mairet Gillman. (c) The seller acknowledges and agrees that if the buyer is an online consumer and the seller is an online trader and the online consumer exercises the cancellation right in accordance with these Conditions of Business, Sotheby’s shall not be required to send the net sale proceeds received from the buyer of a Lot (in the manner described in Condition 31) and the Seller shall return any Net Sale Proceeds they may have already received to Sotheby’s within five (5) business days of Sotheby’s notification to the Seller of the cancellation by the Buyer. In our opinion, any bid for an amount which is between the high pre-sale estimate and the low pre-sale estimate stated in the online sale information for the lot would offer a chance of success. We shall, in our absolute discretion, be entitled to dispense with the requirements of Condition 4 in determining whether or not a particular lot is a counterfeit. On your request, we will inform you of any action being taken against the ‘buyer’ and shall give consideration to any views which you may express to us on the appropriate course of action to take to recover the amount due. Sotheby’s reported a key milestone yesterday when its year-to-date online sales ticked over $100 million, thanks to a $13.7 million online contemporary day … (d)            Condition reports: The seller acknowledges that the property is offered for sale in the condition it is in at the time of the online only auction and that Sotheby’s shall provide a condition report for the lot to assist potential buyers with assessing the condition of the lot and for general guidance only. The ‘net sale proceeds’ will be applied in reduction of your debt. A. If this Online-Only Auction has a printed and/or PDF catalogue and the Guaranteed Property symbol for a lot is not included in that catalogue, the symbol will be included on the Lot’s specific webpage and a notice will be added to the Sotheby’s webpage for the auction. ‘Sotheby’s’ may require the ‘buyer’ to obtain at the ‘buyer’s’ cost the reports of two independent and recognised experts in the field, mutually acceptable to ‘Sotheby’s’ and the ‘buyer’. (b) An online only auction can be fast moving. 2915-1. Severability: In the event that any provisions of these Conditions of Business should be held unenforceable for any reason, the remaining conditions shall remain in full force and effect. Sotheby’s will make any reimbursement due to you without undue delay and in any event, not later than fourteen (14) calendar days after the date on which we are informed about your decision to cancel the services. Any estimate may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time in Sotheby's absolute discretion. Apparently so—bidders from 32 countries clamored for pieces from heritage jewelry houses, like Tiffany and Verdura, at Sotheby's online auction this week. Menu Skip to content. In Geneva, a sale from March 17-26 generated sales worth $2.5 million, a record for a Sotheby’s online watch auction. VIEW CATALOGUES; AUCTION CALENDAR; ONLINE BIDDING; BUYING; SELLING; ABOUT. If you are outbid at any time you will receive an email notification informing you accordingly and providing a link to follow to increase your bid. We specifically draw to the attention of all potential buyers to Conditions 7 and 8 which limit the extent to which Sotheby’s and the seller may be liable. If this Online-Only Auction has a printed and/or PDF catalogue and the irrevocable bid is not secured until after such catalogue is finalised, the symbol will be included on the Lot’s specific webpage and a notice will be added to the Sotheby’s webpage for the Online-Only Auction. (a)  Where the ‘bidder’ is bidding on behalf of another person or acting as agent (in either case, for the purposes of this Condition 3(b), the “Agent”) for another party (the “Principal(s)”), the Agent warrants in its own capacity (in addition to the warranties set out in Condition 3(a)) that: (i)   the Principal(s) is not a Sanctioned Person(s) nor owned (or partly owned) or controlled by Sanctioned Person(s); (ii)  the funds used for purchase and settlement of the lot(s) are not connected with, nor have any link to any criminal activity, including without limitation tax evasion, money laundering, terrorist activities or other criminal activity and that the arrangements between the Agent and the Principal(s) of the lot(s) or otherwise do not, in whole or in part facilitate tax crimes; (iii) the lot(s) purchased by the Agent or the Principal(s) is not being purchased for the purposes of, or being used in any way connected with, or to facilitate breaches of any applicable tax, anti-money laundering or anti-terrorism laws or regulations; (iv) the Agent has conducted appropriate customer due diligence on the Principal(s) of the lot(s) in accordance with all applicable anti-money laundering and sanctions laws and regulations and the Agent does not know and has no reason to suspect that the funds used for settlement are derived from or connected with proceeds of any criminal activity including without limitation tax evasion, or that the ultimate buyer(s) is under investigation, or has been charged with or convicted of money laundering, terrorist activities or other criminal activity; (v)  the Agent consents to ‘Sotheby’s’ relying on the Agent’s customer due diligence, and the Agent will retain for a period of not less than 5 years the documentation evidencing the Agent’s customer due diligence. 9. The Watch Department benefits from a thriving international market, with annual hammer sales totalling in excess of a million pounds. Watches may not be taken apart whilst on view. (ii)             re-offer the lot for sale at public auction with a reserve no less than fifty per cent (50%) of the original reserve. You should note that Sotheby’s generally acts as agent for the seller. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID). Lot 10 – Speedmaster ref. All successful registrations for this sale will show under the ‘Auctions’ section of ‘MyAccount’. Enter your maximum bid (being the highest price you are willing to pay on the lot). BUYING AND SELLING WATCHES AT … Sotheby’s will not be liable to the Seller for any errors or failure by Sotheby’s to execute bids placed by bidders or buyers using the online only platform via the internet or a mobile device (except where any such error or failure is unreasonable) including, without limitation, errors or failures caused by: (i) any loss of connection between bidders or buyers and the online only platform; (ii) a breakdown or fault with the online bidding software or other technical services which relate to the online only platform; and/or (iii) a breakdown or fault with any internet connection, computer, mobile device or system. Sotheby’s reported a key milestone yesterday when its year-to-date online sales ticked over $100 million, thanks to a $13.7 million online contemporary day sale that opened May 4 and closed May 14. RM Sotheby's celebrated one of its most successful results to date at its flagship Monterey sale (18–19 August), generating nearly $133 million ($132,993,810) with an impressive 88 percent of all lots sold across the two-evening auction. Please note that, should you wish to arrange your own shipping or to arrange collection of your purchases yourself, all lots are located in our Geneva premises. Seller’s obligations to buyers: THE ‘SELLER’S’ OBLIGATIONS TO THE BUYER ARE LIMITED TO THE SAME EXTENT AS SOTHEBY’S OBLIGATIONS TO THE BUYER. Post-auction sales: If any lot fails to sell during the online only auction, Sotheby’s shall be entitled (i) for a period of forty (40) days following the closing of the online only auction to sell the lot on the terms of these Conditions of Business. (ii)             No act, failure to act or partial act by ‘Sotheby’s’ shall be deemed a waiver of any of its rights hereunder. Although personal and company cheques drawn in Swiss Francs (CHF) on Swiss banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility. Data Protection: Sotheby’s will hold and process the buyer’s and the seller’s personal information and may share it with another Sotheby’s group company for use as described in, and in line with, Sotheby’s Privacy Policy published on Sotheby’s website at: www.sothebys.com or available on request by email to enquiries@sothebys.com. (I)              ‘SOTHEBY’S’ AND ALL ‘BUYERS’ AND ‘SELLERS’ (AND ANY PROSPECTIVE ‘BUYERS’ OR ‘SELLERS’) AGREE THAT THE ORDINARY COURTS OF THE CANTON OF GENEVA (SWITZERLAND) ARE (SUBJECT TO CONDITION 38(II) BELOW) TO HAVE EXCLUSIVE JURISDICTION TO SETTLE ANY DISPUTE (INCLUDING CLAIMS FOR SET-OFF AND COUNTERCLAIMS) WHICH MAY ARISE IN CONNECTION WITH THE VALIDITY, EFFECT, INTERPRETATION OR PERFORMANCE OF, OR THE LEGAL RELATIONSHIPS ESTABLISHED BY, THESE CONDITIONS OF BUSINESS OR OTHERWISE ARISING IN CONNECTION WITH THESE CONDITIONS OF BUSINESS. The Agent will make such documentation promptly available for immediate inspection by an independent third-party auditor upon Sotheby’s written request to do so. IN ADDITION, SOTHEBY’S RESERVES THE RIGHT TO AGREE VARIATIONS TO THE ‘SELLER’S’ WARRANTIES WITH THE ‘SELLER’. Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. Sotheby’s recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities. The timing and the content of any announcement regarding the withdrawal shall be in Sotheby’s sole discretion. Although condition reports may be given on request, such reports are statements of opinion only and may not specify all mechanical replacements or imperfections in the movement, case and dial. If ‘Sotheby’s’ has not completed its enquiries in respect of anti-money laundering, anti-terrorist financing or other checks as it considers appropriate concerning you or where you are acting as agent, the Agent and its Principal, or the ‘buyer’ to ‘Sotheby’s’ satisfaction at its discretion, ‘Sotheby’s’ shall be entitled either not to complete or to cancel the sale of any lot, as appropriate, and to take any further action required or permitted under applicable law without any liability to you. 20 (a). Sotheby's has absolute discretion to refuse an application to register for, or bid in, an online only auction. Sotheby’s and any third parties providing a guarantee jointly with Sotheby’s benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. We also wanted to embrace the collectors’ increased confidence to buy high-value pieces online,” says Sam Hines, worldwide head of Sotheby’s Watches. If you decide to collect the lot, we reserve the right to charge you a reduced commission amounting to fifty per cent (50%) of the ‘seller’s commission’, plus ‘expenses’. (e) Sotheby’s is unable to arrange delivery to those locations which are specified as excluded zones in the shipping costs calculator which is available on the online only platform (each an “unavailable destination”). (e) Sotheby’s shall not reimburse the online consumer by the amount of any supplementary costs which arise if you chose a type of delivery other than the least expensive type of standard delivery offered by Sotheby’s or any import duties we incur as a result of you returning the lot to us. Please note that Sotheby’s acts for the seller; you should refer in particular to Conditions 4, 6 and 7 of the Conditions of Business. We encourage you to monitor the bids on lots throughout the duration of the online only auction to ensure your status as the highest bidder up until the close of the online only auction. Competitive bidding can often escalate very quickly. SALE TOTAL 9,089,126CHF. Although it is widely believed that heat treatments are permanent, purchasers should assume that any treatment may not be permanent and that over time special care of the stone may be required. If you are outbid by another bidder, you will receive an email notification to inform you accordingly and providing a link to follow to increase your bid.