Michael Jordan’s Gold Gift Watch Will Be Auctioned at Sotheby’s
1997 Patek Philippe
Sotheby's via Bloomberg
A 1997 Patek Philippe gold wristwatch given to Bull's Coach Tex Winter by Michael Jordan. The watch sold for $16,250.
A 1997 Patek Philippe gold wristwatch given to Bull's Coach Tex Winter by Michael Jordan. The watch sold for $16,250. Source: Sotheby's via Bloomberg
1968 Patek Philippe
Sotheby's via Bloomberg
A 1968 Patek Philippe yellow-gold perpetual calendar chronograph wristwatch, by Tiffany & Co. The watch is estimated to sell for $250,000 to $350,000, and is among 195 lots being offered at Sotheby's in New York on Oct. 27.
A 1968 Patek Philippe yellow-gold perpetual calendar chronograph wristwatch, by Tiffany & Co. The watch is estimated to sell for $250,000 to $350,000, and is among 195 lots being offered at Sotheby's in New York on Oct. 27. Source: Sotheby's via Bloomberg
Table Clock
Sotheby's via Bloomberg
A late 18th-century musical table clock by Francis Perigal, made in London for the Chinese export market. It sold for $542,500.
A late 18th-century musical table clock by Francis Perigal, made in London for the Chinese export market. It sold for $542,500. Source: Sotheby's via Bloomberg
After the Chicago Bulls won the 1997-98 NBA championship, their sixth title in eight years, Michael Jordan gave assistant coach Tex Winter a gold Patek Philippe wristwatch with the engraving, “Thanks, MJ.”
The elegant timepiece is expected to fetch up to $12,000 tomorrow when it’s auctioned by Winter’s family at Sotheby’s in New York as part of the Important Watches and Clocks sale. Winter, 88, suffered a stroke last year.
The 195-lot sale, including flowery 18th-century enamel pendant watches and wooden marine chronometers, is projected to bring in up to $4.9 million.
Demand for high-end timepieces faltered after the 2008 financial meltdown, but prices have rebounded. Sotheby’s last New York sale, held in April, brought in $3.5 million. Five of the top 10 lots were acquired by private Chinese collectors.
“There’s a lot more confidence in the market right now,” said Aaron Rich, vice president of Sotheby’s New York watch department.
However, the austere times have led to simpler tastes in watches, according to Rich.
“There was a moment when everything was big and set with diamonds,” he said. “People were bidding on things because they were gigantic. Companies are now starting to scale back.”
Song-Playing Clock
The most expensive item at tomorrow’s auction is expected to be an ornate, late 18th-century table clock, which plays four songs and is topped by a miniature Gothic dome. Slated to fetch up to $800,000, the clock from Francis Perigal in London was produced for export to China and later wound up in the hands of noted Swiss collector Gustave Loup.
Also on sale is a 1925 Cartier agate clock, with a dial set with turquoise kingfisher feathers. The top estimated sale price is $30,000.
Among the wristwatches for sale is a 1968 gold Patek Philippe with a perpetual calendar and chronograph. Rich said the watch originally cost a few thousand dollars and is now expected to fetch up to $350,000.
It’s being sold by its original owner, who wore it daily for more than 40 years, according to Sotheby’s.
“It’s the most desirable, elite watch Patek made,” Rich said.
To contact the reporter on the story: Lindsay Pollock in New York at lindsaypollock@yahoo.com;
To contact the editor responsible for this story: Manuela Hoelterhoff at mhoelterhoff@bloomberg.net.
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