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Sotheby's Declines to Sell Patek Caliber 89The pre-sale estimate was $6.5 million to $10-million, and the bidding reached only $6.4-million. Since this was less than the reserve placed on the watch, Sotheby’s declined to sell it. Had the bid been accepted, it would have represented a final sale price, including buyer’s premium, of about $7.2-million.