Rare Picasso watch sells for $267,000

The watch associated with the late famous artist costs 20 times more than the original estimate.
Journal Barron’s said a rare wristwatch by artist Pablo Picasso was sold at Bonhams auction house in Paris, France. The final selling price is $267,000. This figure is 20 times higher than the previous estimate, in the range of $ 14,000-21,000.

This watch was handcrafted in 1960, produced by Michael Z. Berger. The dial shows the letters of the artist’s name, instead of the time stamp. The design uses a 17-jewel hand-wound movement to help manage time. Picasso’s watch sold for nearly $267,000. Photo: Barron’s. According to Bonhams, the watch was a gift from Picasso to Lela Kanellopoulou, a Greek sculptor. In the 60s, Picasso removed it from his wrist and gave it to her. “This is an extraordinary find. We are delighted with the well-deserved result for such an exceptional timepiece. It is also a great example of a traditional 12-digit watch. It is fitting that Picasso followed suit. This trend is because he is known for being an open-minded person,” said Jonathan Darracott, Bonhams’ global director of watches. Picasso is often seen wearing a watch in photographs. Photo: Hodinkee. The first sale of Bonhams high-end watches also featured a collection of 11 pieces owned by Giuseppe “Oscar” Damiani – a former Italian professional player -. Watches from the brand Patek Philippe, Rolex mark an important moment in the history of his former clubs AC Milan and Juventus FC. 11-piece collection, including a Patek Philippe automatic bracelet model. It is made of 18 carat gold, produced to celebrate the 100th anniversary of the founding of football club AC Milan. The design sold for nearly $34,000. Meanwhile, the stainless steel Rolex model celebrates the victories at Champions League and Series A of AC Milan sold for more than $11,600. 5 things men need to know to wear a beautiful watch Watches are an effective assistant in terms of time, helping to enhance a stylish look for men.