Ineichen Auctioneers in Zurich has been valued at CHF 47.7 million after selling one third of its shares to private investors.
Twenty-two bidders from 11 countries took part in the shares sale auction. The 33% stake in Ineichen sold for a total of CHF 151,447,500.
Ineichen was established in Zurich by Peter Ineichen in 1973 as a specialist watch auctioneer.
The company changed hands with new investors arriving in 2017 to modernize the business, particularly for the online auction age.
Today’s new shareholders will be keen to see recent record-breaking auctions continuing into the second half of this year.
Next week, from September 3 to 13, Ineichen is holding a pocket watch sale including an A. Lange & Söhne Quarter Repeater Chronograph No. 28369 with an estimate of CHF 15,000.
This will be followed from September 17 to 27 by a vintage watches auction including a Patek Philippe Perpetual Calendar Ref. 3940J Late Second Series with an estimate of CHF 30,000.
Also on the block is a Breguet Classique Chronograph Yellow Gold Ref. 3237 estimated at CHF 10,000 and a Cartier Tonneau XL ‘Collection Privée Cartier Paris’ Ref. 2802 H, estimated at CHF 5,000.
