Upcoming “Watch Week” in Monte Carlo
After a few auctions with views resolutely turned towards the glories of American past, we are now coming up to a series of watch auctions on the Rock of Monaco. Monte-Carlo to some, Monaco to others, this spot has been a magical destination for all auctions since the beginning of the 80’s. The Anglo-Saxon auction houses Sotheby’s and Christie’s, not allowed at the time to sell in France due to the monopoly of French auctioneers, figured out how to build an international auction platform locally, which is now a strong place more than thirty years after among key players in France.
Certain famous auctioneers made their reputations here, including Me Jacques Tajan, whose legacy continues today under the custodianship of his son Me Francois Tajan, Deputy Chairman of Artcurial. He will soon hold the hammer for the next auction of Important watches July 17th, with many followers in the watch arena like Boule, HVMC, and Antiquorum, who partnered for this specific occasion with the local player Monaco Legend Group.
In general, it will be interesting to observe the results of this years’ auctions within the specialty; for the first time, it brings together more than 1,000 diverse and varied pieces for a total amount of more than 10 million euros. Though the numbers may not equal those in Geneva, which remains the center for watch auctions worldwide by far, it is certainly interesting to take note that the Principality of Monaco has established itself as an undeniable meeting-place for collectors every summer for the last few years. Here, watches have become one of the attracting specialties after the jewelry sector, along with cars, which have fanned the flames since the last Artcurial Motorcars sale at the Grimaldi Forum under the hammer of Me Hervé Poulain.
Artcurial
In one of the most notable events of this year’s summer auctions, Artcurial is showing a selection of watches that covers almost three centuries of watch history, from antique pieces to vintage and contemporary models. The centerpiece of this upcoming sale is two specific private collections. The first, lots 62 to 84, is under the name of a Belgian antiquarian Georges Baptiste, who was impassioned by antique watches; this collection has attracted the expert’s eyes for its synthesis of multiple eras and different styles into one homogenous ensemble of pocket watches. In the more contemporary or vintage register, the Arman Collection, lots 131 to 150, focused only on wristwatches opens doors into the intimate universe of an artist ahead of his time, who like Andy Warhol in the same period has been a precursor among vintage watch collectors. This ensemble makes a good introduction to the “Watch Week” on the Rock of Monaco.
Though these two collections are the heart of this upcoming auction, the rest of the sale centers around a good equilibrium between contemporary and vintage watches, which perfectly illustrates the current market trends. One strong emphasis made on the Rolex vintage sector, such as lot 270, the famous Daytona ref. 6263 with rare version “Panda” dial valued between 200,000 and 300,000 euros. As well the highly sought after “August Maier Stelline” ref. 6062 which will close the evening session at Artcurial. Its starting price is 150 000 euros, which projects a lively battle between bidders, especially looking back at the sale of Phillips last May with its super rare cousin, the new world record breaking “Bao Dai Stelline” made from the same line but featuring an arguably unique black dial with diamond indexes at more than 5 million Swiss Francs.
Antiquorum
On the other side of the spectrum of upcoming watch auctions in Monaco this summer is Antiquorum, the premier watch auctioneer since 1974. It will be Antiquorum’s first time in Monaco outside their exceptional participation in the charitable sale Only Watch in 2013. They will be presenting a large selection of contemporary watches with rare and great complications, such as lot 239, a Patek Philippe reference 5208 with a minimum estimate of 850 000 euros. It is said to have been purchased by an oligarch as a gift for the Russian President, Vladimir Putin; however, the demonstration of affiliation with “Putin” mentioned on the certificate remains unconfirmed, considering the commentary on the notice that states clearly: “the end of the story is just guessing. . .”
The Antiquorum sale in collaboration with Monaco Legend Group will take place over two days on July 19th and 20th, with 340 lots and an overall estimate of above 5 million euros, the biggest value among all auctions this summer, mostly focused on vintage watches. Rolex comes first likewise with a third of the lots and half of the total estimate, but one rare piece, lot 256, attracted particularly the expert’s eye at first sight. Unusual version of the reference 6239 in 18k gold with “Paul Newman” dial, stamped with all English hallmarks as well as serial numbers on the inside case back. Highly unusual for Rolex key collectors, this rare version has a conservative estimate of 150,000 to 200,000 euros. This is really to be watched out for its final result !
Along the spectrum of watch auctions in Monte Carlo, HVMC and Boule Auction also deserve to be mentioned with also a very good selection of watches among which the expert’s eye made some picks. Both managed to bring together good quality watches as well as table clocks like rare ones signed Cartier. In order of appearance, HVMC is the first on to open this “Watch Week” with a sale on July 16th, for a warm-up before a long run of watch auctions in Monaco.
HVMC
Cover catalogue of HVMC is a perfect illustration of this auction, composed of antique watches, table clocks, and modern complicated wristwatches. The Cartier enamel desk clock with minute repeater, lot 151, is a good example from the early period. Estimated between 20,000 and 30,000 euros, it comes with the original presentation case, which is essential for collectors. But the guiding light for this sale like at Antiquorum is lot 205, a modern complicated wristwatch signed Jaeger-LeCoultre, Reverso with tourbillon, only produced in a limited edition of 75 examples. Made in platinum it shows on the front dial an aperture for spherical tourbillon, while the back displays the mechanism with a small hand indicating the power reserve. Estimated 130,000 to 160,000 euros, it comes complete with all original accessories. This is like at Antiquorum a real test for tracking today’s market trends on all contemporary complicated timepieces at auction.
Boule Auction
And to wrap up watch auctions in Monaco, we turn to the experienced Boule Auction house, which has presented a catalogue full of unusual options, with several rare pieces such as two Cartier desk clocks, lots 60 and 61, both rare examples from the 1910’s. The only drawback is that the catalogue descriptions are not complete with all case or serial numbers, a practice not up to the standards of transparency practiced by the majority of auction houses at the international level, neither for auctions in Geneva or elsewhere. Regardless, the expert’s eye has chosen for you in this selection the Rolex Cosmograph Daytona ref. 6264/6241. This piece, lot 278, is one of the rarest variations of the model: produced only for two years and purchased in Paris for the modest sum of 6,020 French Francs in 1973, it is now valued between 100,000 and 150,000 euros. Most importantly, it is full set with documentation, including a receipt, a guarantee, and the original box. A very rare piece to keep an eye on !
Scheduled on July 18th at Boule Action, a wink to the collection of Patek Philippe “vide-poches” lots 88 to 100. These pieces have become truly desirable accessories for any collector. The celebrated Geneva watch manufacturer produces these accessories every year using designs form watches displayed in the Patek Philippe Museum. We rarely see almost the full collection from 2004 to 2017, so followers of Patek Philippe and lovers of accessories in Limoges porcelain, take heed !
Finally, to conclude this article for the summer season before the traditional break in August, I would like to thank particularly all auction houses who produce wonderful catalogues each month for us. From my experience, I know how much work it takes to assemble an auction, so thank you so much, we love it at the expert’s eye.
A watch is not only a collectible item, but also a work of art, a fact proven on each corner of this planet, now making a pit stop in Monaco just before the summer break season. In many ways, I hope it will be the ground for many record-breaking results!
Though Geneva remains the magnetic pole for all watch enthusiasts, we must also take heed of “exotic” locations such as Monaco like Dubai in the Middle east, similar markets that have potential for market shares increase in the years to come.
Long live Collectors! Long live Watches in Monaco! Long live the Auction Block!
Geoffroy Ader