Raymond J. Learsy a graduate of the Wharton School, started his own commodities trading firm in 1963, expanding world … Errors may occur in the currency converter and you should not rely on it as a substitute for the Swiss francs bidding. The registration process requires you to enter your debit card or credit card information, your address and to confirm that you have read and accept our Conditions of Business, the authenticity guarantee and this Guide to buying in an online only auction. The successful bidder will receive an email notification of any successful bid and will be invoiced by Sotheby’s in accordance with Condition 12 below. Any reference to condition in the online sale information will not amount to a full description of condition and the absence of any reference to the condition of a lot in the online catalogue description does not imply that the lot is free from faults or imperfections. (iii) the agent will disclose to Sotheby’s the identity of the agent’s principal and the agent consents to Sotheby’s relying on the agent’s due diligence and the agent will retain for a period of not less than 5 years the documentation evidencing the due diligence. 14. The catalog contains masterpieces rarely, if ever, seen in the public eye. 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. Automobiles | RM Sotheby's. (f)             Limitations on claims by seller: Any claim by the seller shall, in any event, be limited to the ‘net sale proceeds’ in respect of that lot. For the shipping cost calculator, Sotheby’s has partnered with a secure shipper, to ensure that your purchases are shipped to you safely, securely and insured, via the global Federal Express network or via Swiss post for Swiss shipments. Lots with this symbol may, in our opinion, require special handling or shipping services due to size or other physical considerations. To assist you in understanding the potential cost of shipping to your address, we have provided a simple shipping cost calculator, which can be accessed by clicking on the link: SHIPPING CALCULATOR on each lot page. Under such circumstances, the total compensation to the irrevocable bidder will not exceed the total buyer’s premium, overhead premium and other amounts paid to Sotheby’s in respect of any lots for which the irrevocable bidder is not the successful bidder. If you fail either to reconsign or collect the lot as set out above within sixty (60) days of the closing date of the online only auction, we shall, in our sole discretion, be entitled to: (i)              store the lot at an independent storage facility at your risk and expense; or. The registration process requires that you submit your request to open a verified account no later than 24 hours prior to the closing of the first lot in the relevant online only auction in which you wish to bid (you will also be required to provide certain information to Sotheby’s as part of the application process) to create a verified account, please follow the registration instructions provided at: (c) If you have already set up a verified account, you can sign into the applicable online only auction using your existing username and password. You shall indemnify us for all reasonable legal and associated costs and expenses incurred in connection with any enforcement action taken by Sotheby’s in addition to any damages to which Sotheby’s may be entitled. Endangered Species: Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, tortoiseshell, etc., irrespective of age or value, may require a licence or certificate prior to exportation and require additional licences or certificates upon importation into any country outside Switzerland. Appearing quite worn but honest in the catalogue photos, it is lot 10 and has an estimate of US$150,000-200,000. To the extent that Sotheby’s has laboratory reports containing specific information on the treatment of a stone, these reports are made available for review by prospective buyers. And the watch is one of two ref. Sotheby’s June 2017 Important Watches sale in New York City took in $7.4 million. You shall be solely responsible for insuring the lot purchased from the time risk passes to you. • Payments by Swiss Francs (CHF) Cash and CUP can only be accepted at Sotheby’s premises at 2, Rue Francois-Diday, 1204 Geneva, Switzerland. If any lots in the catalogue are offered without a reserve, these lots are indicated by a box (□). (c) The online sale information provided to bidders in respect of a lot, and any other estimate, whether written or oral, or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby’s. No Reserve may exceed the lot's final low pre-sale estimate published by Sotheby's on the online only platform prior to the start of the relevant online only auction. Non-payment by the buyer: We are under no obligation to enforce payment by any ‘buyer’ nor to undertake legal proceedings to recover such payment. BROWSE THE LOTS FOR SALE IN THE ONLINE ONLY AUCTION. For further guidance on export/import restrictions, please refer to the Guide to Buying in an Online Only Auction. In certain instances, interested parties may have knowledge of the reserves. 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. If we arranged for the lot to be delivered we estimate that the cost of returning the lot by the same means is likely to be similar to the cost of delivery but it is not possible for us to be more accurate as to this cost due to the many variables involved in our worldwide business model and the means by which a return might be made. The record claimed by Phillips in November 2017 when it sold a Patek Philippe ref. (vi)            operation of the online only platform. It is the buyer’s responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 13 of the Conditions of Business. Sotheby’s sold $13,093,186 worth of watches at its November 11 and 12 sales in Geneva. 1. We shall retain copyright in all images created by us of any lot and shall have the right to use such images in whatever way we deem appropriate, both before and after the online only auction. I was pleased to see that the top ten list of performers at this auction included Richard Mille and Greubel Forsey in addition to Patek Philippe. The inability to ship to a destination so excluded will not justify the cancellation of a sale, and you should refer to the full terms and conditions for buyers in the Conditions of Business. Limitation on claims by buyers: Without prejudice to Conditions 2 and 4 above, and to the extent permitted by applicable law, and save insofar as it relates to any liability which we may have for personal injury or death, any claim against ‘Sotheby’s’ by the ‘buyer’ shall be limited to the ‘hammer price’, applicable ‘buyer’s premium’ and applicable ‘overhead premium’ actually paid by the ‘buyer’ to ‘Sotheby’s’ with regard to that lot. VIEW CATALOGUES; AUCTION CALENDAR; ONLINE BIDDING; BUYING; SELLING; ABOUT. Watches may not be taken apart whilst on view. 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. Available reports from internationally recognized gemological laboratories will be noted in the description of the item. This Guarantee is provided for a period of five (5) years after the closing date of the relevant online only auction, is solely for the benefit of the ‘buyer’ and may not be transferred to any third party. (iii)            there has been no material loss in value of the lot from its value had it been in accordance with its description. Sotheby's New York Final Watch & Clock Auction Results. In the event that you request delivery of a lot to an unavailable destination, Sotheby’s reserves the right to require you to collect the lot from Sotheby’s office premises at 2 rue Francois-Diday, 1204, Geneva, Switzerland or to arrange delivery of the Lot by a third party carrier. However, the thing I perhaps admire more than anything else is Sotheby’s quality over quantity for their London auctions, with only 85 lots up for auction with only few lots passed, giving Sotheby’s a … Where the purchaser has provided Sotheby’s with a valid Resale Exemption Certificate prior to the release of the property, sales / use tax will not be charged. Headlining the sale is a group of diving Rolex watches including a Submariner with Explorer dial, a ‘Comex’ and a ‘small crown’ 6536. The auctioneer clinched the title of most expensive watch sold at auction in Asia when it sold a Patek Philippe ref. For this week’s instalment of Speedy Tuesday, he contributes a report on this visit to the Sotheby’s auction “Omega Speedmaster: To the Moon and Back | Celebrating 50 years since Apollo 11”. Filter ... (Collectible Pens: Lot 1 - 57, Watches: Lot 58 - 76) 10 - 17 Dec 2020. You will have to bear the direct costs of returning the lot. In order to be eligible to participate in an online only auction, you must have registered, and maintain, a verified account. NEXT AUCTION. Lots purchased shall be paid for in accordance with Condition 12, and the denial of any export or import licence required or any delay in the obtaining of such licence shall not justify the rescission or cancellation of the sale by you or any delay by you in making payment of the ‘total amount due’ for the lot. For that reason, Sotheby’s condition report is not an alternative to taking your own professional advice regarding the condition of the lot. For further details, please contact the Post Sale Services Department on +41(0)229084800. Please note that the pre-sale estimates which are stated in the online sale information do not include any applicable buyer’s premium, overhead premium or any applicable VAT (or any amount in lieu of VAT). (b) An online only auction can be fast moving. Within ten (10) days of receipt of the notice advising you of the rescission of sale, you will return to us any ‘net sale proceeds’ previously paid by us to you in connection with the lot and shall reimburse us for any ‘expenses’ incurred in connection with the rescinded sale. the buyer) will receive by email an invoice from Sotheby’s as soon as reasonably practicable after the final lot in the relevant online only auction closes. Further information regarding accepted payment methods is set out in the Guide to Buying in an Online Only Auction set out above. If a Buyer or their agent takes possession of the property after the 30th calendar day following the closing date of the online only auction, the settlement date shall be the date that is five (5) business days from the expiry of the online cancellation period. Buyers are advised to inspect the lot and to contact Sotheby’s prior to the sale to discuss any specific shipping requirements. Where possible in these Conditions of Business, Sotheby’s is referred to as ‘we’, ‘us’ and ‘our’, and actual and prospective buyers and sellers are, as applicable, referred to as ‘you’ and ‘your’. If this Online-Only Auction has a printed and/or PDF catalogue and the interested party’s possible participation in the sale is not known 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 auction. (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. PRESS; PAYMENT; CONTACT US; Select Page. (b) If you have not already bid online in a Sotheby’s sale, you will have to create a verified account in order to register for a particular online only auction and to be eligible to bid in that particular online only auction. The 37mm white platinum watch was auctioned first. All lots are offered for sale in the condition they are in at the time of sale in the relevant online only auction. All 45 timepieces of the October 2018 Sotheby’s New York sale of memorabilia collected by Robin and Marsha Williams sold, as did many other items for a total of $6.1 million. (d)             ‘Sotheby’s’ will not be liable for any loss or damage caused to frames or to glass covering prints, paintings or other work, for loss or damage occurring in the course of any process undertaken by independent contractors employed with the ‘seller’s’ consent (including restoration, framing or cleaning), or for loss or damage which is caused directly or indirectly or results from (i) changes in humidity or temperature; (ii) normal wear and tear, gradual deterioration or inherent vice or defect (including woodworm); (iii) errors in processing; or (iv) war, nuclear fission or radioactive contamination, chemical, bio-chemical or electro-magnetic weapons, or any act or acts of terrorism (as defined and applied by Sotheby’s insurers). The online images of the lot form part of the condition report provided by Sotheby’s. Conduct of, and bidding in, an online only auction: (a) Bidding opens at a specified amount (known as the ‘reserve’ below which the lot cannot be sold) and escalates in bid increments which are set out in the online sale information relating to the lot and which are determined at Sotheby’s discretion). 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). We reserve the right to charge you our reasonable legal and administrative costs incurred. 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. 31. 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. (d)            ‘Sotheby’s’ reserves the right to seek identification of the source of funds received, and to make enquiries about any person transacting with ‘Sotheby’s’. Returned lots may either be consigned to Sotheby’s for re-sale or, alternatively, collected by the seller (in which case Condition 36 shall apply). Bidding at the sale: The seller may not bid or instruct or permit any other person to bid via the online only platform on its behalf for its own property in the relevant online only auction. Sotheby’s final watch & clock auction of the spring season ended with a total of $7,115,375, besting a pre-sale high expectation of $6.5 million and selling 89.1% by lot. If the status of your bid changes, you will receive notifications via email and push (if you have the Sotheby’s App installed). Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. If the interested party is the successful bidder, they will be required to pay the full Buyer’s Premium and Overhead Premium. We also wanted to embrace the collectors’ increased confidence to buy high-value pieces online,” says Sam Hines, worldwide head of Sotheby’s Watches. Buyers should obtain their own advice in this regard. Bids can be submitted through the online only platform from the start of the online only auction until the bidding period displayed for the relevant lot closes. Partial payment of a lot, or payment across multiple credit cards for a single lot, is not permitted. We shall be entitled to the ‘net sale proceeds’ of the lot if, for reasons beyond our control, we cannot return the lot to you. It was hosted on July 19 in New York, and the total result was 1.2 million USD. If the amount outstanding then remains unpaid for fourteen days following such notice, we shall be entitled to arrange and carry out the sale of any such property in accordance with (e) above; (h)             charge you the ‘seller’s commission’ and our reasonable legal and administrative costs incurred; (i)              charge you interest at a rate not exceeding 6% (six per cent) per annum above the discount rate quoted by ‘Sotheby’s’ principal bank in Geneva from time to time on the ‘total amount due’ to the extent that it remains unpaid for more than five (5) working days after the date of the auction; (j)              store the lot at ‘Sotheby’s’ premises or elsewhere at the ‘buyer’s’ sole risk and expense; (k)             reject any bids made by or on your behalf at any future auction or require you to make a deposit with us before accepting any such bids. Browse and view results of past auctions and sales of Contemporary, Modern & Impressionist, Old Master Paintings, Jewelry, Watches, Wine, Decorative Arts, Asian Art & more. Typically, rubies and sapphires have been heat treated and emeralds have been treated by oil or resin to improve color and clarity. 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. (c)             If the online consumer cancels the sales contract within the online sale cancellation period, Sotheby’s will reimburse (without undue delay and in any event within fourteen (14) calendar days after receipt of the returned lot from the online consumer within the time frame specified in Condition 16(a)(ii)) payments received by Sotheby’s from the online consumer (including the purchase price and any standard online delivery costs). Local laws may prevent you from importing a lot or may prevent you from selling a lot in the country which you import into. 19. Important Watches View Auction details, bid, buy and collect the various artworks at Sothebys Art Auction House. (a) As stated in Condition 12 above, you will be emailed the buyer’s shipping quote at the same time that you are emailed the buyer’s invoice. (b)            Attribution: The seller acknowledges that attribution of items is a matter of opinion and not of fact, and is dependent upon (amongst other things): information provided by the seller, the condition of the property, the degree of research, examination or testing that is possible or practical in the circumstances, and the status of generally accepted expert opinion at the time of cataloguing. Remedies for non-payment:  If the ‘total amount due’ is not paid on any lot in accordance with Condition 12, we shall, in our discretion and without prejudice to any other rights which we and the ‘seller’ may have, be entitled, both for ourselves and as agent for the ‘seller’, to exercise any one or more of the following rights or remedies: (a)             commence proceedings against you for damages for breach of contract; (b)             cancel the sale of the lot; (c)             apply any payments made by you to us or any ‘Sotheby’s affiliated company’ as part of the ‘total amount due’ or otherwise towards any costs or ‘expenses’ incurred in connection with the sale of the lot; (d)             apply any payments made by you to us or any ‘Sotheby’s affiliated company’ as part of the ‘total amount due’ or otherwise towards any other debts or damages owed by you to us or any other ‘Sotheby’s affiliated company’ in respect of any other transaction; (e)             arrange and carry out a re-sale of the lot by auction or private sale in mitigation of the debt owed by you to us. Please refer to the VAT and other Tax Information for Buyers section above for further information regarding VAT. The purchaser’s inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Our Watch sales offer you the opportunity to explore and buy a broad range of timepieces from the earliest verge pocket watches, right through to modern high-end wristwatches from the best marques in the world and everything in between. (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. (iv)            These Conditions of Business shall not be assignable by the ‘buyer’ or the ‘seller’ without the prior written agreement of ‘Sotheby’s’. A buyer’s premium and overhead premium is payable by the successful Bidder on a lot in an online only auction. 2499 third series in pink gold with a “Tiffany & Co.” dial for HK$23.5m, or US$3.00m (or US$2,998,800 to be exact), all fees … Governing law: These Conditions of Business and any amendment to them (including any online bids in the sale to which these Conditions apply) shall be governed by and interpreted and construed in accordance with Swiss law. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment. (ii)  you have breached any of your representations and warranties in Condition 18. And while Sotheby’s only ever refers to the late owner of this collection as “the collector” due to client confidentiality, SJX revealed him to have been German billionaire Erivan Haub, heir to and … 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. From time to time, Sotheby’s or any affiliated company may provide the irrevocable bidder with financing related to the irrevocable bid. register. Payment from the invoiced party is due in full by the payment date stated in the buyer’s invoice. A buyer’s inability to export or import any lots with this symbol cannot justify a delay in payment or a sale’s cancellation. Unsold lot: We will send you a notice to the address given on the relevant property receipt form if any lot fails to sell during the online only auction. In such circumstances, the ‘seller’ agrees to: (i) provide ‘Sotheby's’ with a copy of a certificate of insurance for the item and a waiver of subrogation by the ‘seller's’ insurer of all rights and claims which the ‘seller’ may have against ‘Sotheby's’, each in a form satisfactory to ‘Sotheby's’; (ii) indemnify ‘Sotheby's’ on demand against any claim for loss or damage in respect of the item, however such claim may arise and for all related costs or expenses. Search Search. The Guarantee is provided for a period of twenty one (21) days after the closing date of the relevant online only auction, is solely for the benefit of the ‘buyer’ and may not be transferred to any third party. We also specifically draw to the attention of all sellers to Conditions 18 and 20 which set out the basis of the relationship between Sotheby’s and the seller and limit the extent to which Sotheby’s may be liable to the seller. In the event that you request delivery of a lot to an Unavailable Destination, Sotheby’s reserves the right to require you to collect the lot from the Sotheby’s premises at 2, rue Francois-Diday, 1204 Geneva, Switzerland or to arrange delivery of the lot by a third party carrier. 7 - 16 Dec 2020. View information on collector car auction dates, schedule details, event info, how to register to bid, how to consign, or how to buy tickets for RM Sotheby's. Home; About Auction-Catalog.Com; Cookie Policy; Frequently Asked Questions; Category Archives: Sotheby’s Raymond J. Learsy Collection Contemporary Art Sothebys 1992. Sotheby’s uses pre-determined bidding increments. As indicated in the Conditions of Business, the online sale information for each lot includes pre-sale estimates which are provided by Sotheby's as a guide for prospective Bidders to assist them with determining the appropriate amount to bid for a lot. We shall notify you of any lien being exercised and the amount outstanding. References in the e-catalogue descriptions to certificates or reports issued by gemological laboratories are provided only for the information of bidders, and Sotheby’s does not guarantee and accepts no responsibility for the accuracy, terms or information contained in such certificates or reports. 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. Without further ado, here’s Larry’s report. Please refer to the Conditions of Business for more information. ‘Sotheby’s’ has discretion to waive any of the above requirements. Any notice which we send to you may be sent to your last address known to us. 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