Bonhams Watch and Jewellery Sale Yields £1.7 Million

By Paul Joseph

A Bonhams auction featuring a pocket watch made for the French lover of fashion icon Coco Chanel took place in London on Tuesday, resulting in an impressive £1.7 million in sales.

The Bonhams auction of Fine Watches and Wristwatches in New Bond Street saw many lots selling well above estimate.

Among the highlights was a pocket watch made for the French illustrator and designer Paul Iribe – one-time lover of Coco Chanel – which exceeded its £15,000 to £20,000 (€17,700 - €23,700) estimate to sell for £26,250 (€30,953).

The 18-karat gold open-face automatic Breguet pocket watch was sold to the Frenchman in 1933, the same year he collaborated with Chanel on an extravagant jewellery collection, for 10,800 francs.

Elsewhere in the sale Rolexs performed strongly, with a stainless steel manual wind Rolex chronograph wristwatch selling for £97,250, whilst another  stainless steel manual wind Rolex ‘Paul Newman’ ‘Daytona’ chronograph bracelet watch offered by its original owner achieved a fee of £46,850.

Founded in 1793, Bonhams is one of the world's largest auctioneers of fine art and antiques.

By Paul Joseph