Omega hits a US$1m first at auction
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Geneva
AN OMEGA wristwatch sold for US$1.4 million in Geneva, a record price for the brand, as upstart auction house Phillips challenges larger rivals Christie's and Sotheby's in the market for vintage timepieces.
The sale marks the first time Omega has achieved a price of more than US$1 million in an auction, according to Phillips, which raised a total of 23.9 million Swiss francs (S$32.7 million), just beating Christie's. Sotheby's trailed behind with 5.2 million francs in an auction where one in four lots went unsold.
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