The best approach to this spring’s season of watch auctions, is to balance the dynamic of the first two hubs hosting first sessions of the season: Dubai vs. Hong Kong. Dubai with its strong financial growth in the Middle East region, will be the first one to offer a wide variety of models with a large selection of vintage and modern watches under Christie’s flagship. On the other side of the planet, Antiquorum the worldwide pioneer of watch auctions will continue its series of sales Important Modern & Vintage Timepieces with a large selection of items covering many different aspects of the horological market from wristwatches to pocket watches and even including clocks.
Of these two markets, we can observe similar ways of enhancing the watch market, these two locations are among the most strategic ones for luxury brands, both have benefited from a strong growth over the last decade which gave birth to a new and young generation of collectors locally. If Hong Kong went last year through difficult times with the watch crisis, its activity on the auction block did not suffer so much especially due to the arrival of a new player, Philipps. In the same time Dubai developed itself as a strategic location to approach a new range of customers with encouraging results so far.
Both auctions will follow each other in a day of interval, which will gives us for the beginning of this year a good indication of trends to follow on the market, the expert’s eye will follow for you these results very carefully with this first wide selection from Antiquorum and Christie’s.
Antiquorum Hong Kong March 18th:
Lot 127
Independent watchmakers are now well represented in auction catalogs, just like this magnificent mechanical work of art equipped with a tourbillon, both a technical and esthetic achievement. Featured in this auction, the watchmaker De Bethune is a proof of the concept with such timekeeper as the reference DB28T, a futuristic example dated back to 2010, including among its complications a 5 days power reserve with a 43 mm case width. From my point of view, it will be interesting to observe the results from this auction, especially on a local market like Hong Kong, the strongest growth market for all independent watchmakers since 2008. Est. 65 000 – 91 000 $
Lot 173
This clock, which was featured in the thematic sale Vacheron Constantin on April 3rd 2005 by Antiquorum, to celebrate the 250th anniversary of the Geneva watch manufacturer, is the perfect example of refinement both as a jeweler and watchmaker. This work dated back to 1925 is the fruit of a close collaboration between the famous Parisian jeweler Verger Frères as a jeweler and Vacheron Constantin as a watchmaker. It is also interesting to note as well that the retailer at the time was Lacloche in Paris, a famous name in the history of fine jewelry. Undoubtedly, this piece will the attraction of this sale, it perfectly illustrates the joined forces between watchmakers and jewelers to produce marvelous work of art. My favorite piece in this edition of the expert’s eye. Est. 120 000 – 182 000 $
Lot 226
An auction without any Patek Philippe as a highlight is rare these days, so once again the golden palm goes to this great complication in pink gold reference 3939HR with minute repeater and tourbillon. If Patek Philippe remains the great winner of all records being set in recent years for vintage pieces, it is nevertheless interesting to follow today the performance of more contemporary pieces at auction which also catch the collector’s eye. We will follow this result with great attention and keep you informed of the market performance this year for the modern and secondary watch market. Est. 280 000 – 390 000 $
Christie’s Dubai March 19th :
Lot 17
In a mix of genres, Christie’s has managed to impose different watch styles and periods as witnessed in this catalogue with this steel chronograph by Universal, Space Compax, which testifies of the vitality of this new market demand outside of the Geneva auction hub in May and November each year. A perfect descendant of the Compax line created in the 40’s, this updated version form the 70’s, easily recognizable through its look more shock proof and water resistant, illustrates the vitality of all vintage sports watches. Without a doubt a new way to begin a vintage watch collection. To be continued … Est. 5 000 – 8 000 $
Lot 36
If the vintage section represents a smaller part in this catalog mainly focused on modern watches, it is worth noting this great example of the famous Rolex Daytona Ref. 6263 so called “Panda”, a real trophy for all vintage aficionados. It is interesting to notice that this watch had only one owner before coming up to auction, who obviously was very meticulous and kept most original accessories from the period, as a proof of the best state of preservation. Undoubtedly, collectors will be thrilled by this piece, a perfect example of what the market looks for in the last few years. It is so rare to find watches with all original accessories, this result will demonstrate the strong appetite for Rolex. Est. 150 000 – 250 000 $
Lot 184
If many watches have attracted my eye in this sale, such as the Audemars Piguet Royal Oak first generation, lot 145, the last lot of this sale remains the number one attraction of this Dubai session. The reference 2499 is the grail for many vintage watch collectors and this example from the last generation, identified as 2499/100, is a particular good one with all its original accessories including the certificate stamped by the famous Italian retailer Gobbi Milan. Considered like the Ferrari 250 GTO, only 345 examples were produced over a period of 35 years which gives us only 9 examples each year. Est. 400 000 – 600 000 $
This first selection will be interesting to test the trends of the market at the beginning of 2017, we will see through these results the main directions of the watch market in these locations Dubai and Hong Kong, both oriented towards vintage and modern watches. Conclusions from these future results will be studied in the next “market’s eye” to be published at the end of this month.
Geoffroy Ader