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Business News: Collector Settles with Christie’s Over “Passion for Time” SJX Watches
Dec 20, 2023

Business News: Collector Settles with Christie’s Over “Passion for Time”

One of the most talked-about sales at last month’s Geneva auction season was Passion for Time at Christie’s, the dispersal of a collection belonging to Mohammed Zaman, an Omani businessman. The auction started almost an hour late with new estimates revised upwards, and majority of the lots sold to a third-party guarantor at the new low estimates. The guarantees and new estimates were announced by the auctioneer just before the start of the sale, as they should be, though it did little to dispel the confusion in the room. The proceedings immediately set off a frenzy online, some of it alleging misdeeds on the part of Christie’s. Most of it was unschooled speculation. Perhaps swayed by this, Mr Zaman quickly filed a lawsuit against Christie’s, leading to the watches being frozen. Two weeks on, the lawsuit has been withdrawn and Mr Zaman has resolved his dispute with Christie’s – a shrewd move in my opinion because he did well out of the sale. The 113 lots belonging to Mr Zaman achieved just under CHF38 million including fees – a result worthy of a standing ovation in the current market. Proof of the sale’s success was found two weeks later at the Hong Kong sales where prices were notably weaker than the results at Passion for Time, a testimony to the current market. The top lot at Passion for Time, the Philippe Dufour Grand Sonnerie wristwatch no. 1 that sold for CHF5.13 million including fees All’s well that ends well According to people familiar with the ...

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Outstanding Independent Watchmaking at Phillips Hong Kong SJX Watches
Greubel Forsey Nov 16, 2023

Outstanding Independent Watchmaking at Phillips Hong Kong

Phillips’ upcoming auction in Hong Kong begins on November 24 and as is now convention, the sale includes a diverse selection of independent watchmaking.  Among the highlights in the Hong Kong Watch Auction: XVII is the F.P. Journe Coffret 38 – the collection of five watches with 38 mm steel cases made to mark the discontinuation of the brand’s historic case size. Each model in the set is significant in François-Paul Journe’s horological ascent, from the groundbreaking Tourbillon Remontoir d’Egalite to the meticulously no-frills Chronomètre Optimum, and here each watch is (relatively) accessible and sold as an individual lot. The auction features creations from other notable watchmakers in every price range, including Daniel Roth, Habring², Voutilainen, and a Harry Winston developed by Greubel Forsey. These watches invite exploration into the history and future of watchmaking, and some tell stories of craftsmanship and innovation that captivate.  The Hong Kong Watch Auction: XVII is scheduled for November 24 and 25. Registration for bidding and the full catalogue can be accessed here. The Rexhep Rexhepi Chronometre Contemporain I in the sale is the second to be sold publicly in as many auction seasons Lots 815-819: F.P. Journe Coffret 38 set of steel watches In 1991, François-Paul Journe introduced his first wristwatch that had a platinum case 38 mm in diameter – large enough to be unheard of at the time. In comparison, the Patek Philippe ref. 5004 split-...

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The 25 Most Expensive Watches Ever Sold at Auction Teddy Baldassarre
Oct 20, 2023

The 25 Most Expensive Watches Ever Sold at Auction

How much would you pay for a watch? What if it was the only one of its kind, or a record-breaker in terms of complications, or once owned by someone famous or historically significant? And just how expensive are the most expensive watches to ever change hands in a sale? In today's red-hot watch auction market, the answers, and the sums, may surprise you. Here we run down the list of the top 25 watches in descending order of the price they fetched on the auction block, while spotlighting some of the timepieces with the most fascinating backstories and representing the most impressive technical achievements. You'll find the expected abundance of watches from Patek Philippe and Rolex (the clear leaders in the category) but also a few from other watchmakers, large and small, who've recently broken into the upper echelon. At the end, we'll spotlight the highest selling watches from a few other brands that didn't crack the top 25 but maintain a robust presence on the watch auction scene. 1. Patek Philippe Grandmaster Chime Ref. 6300A-010 ($31.19 million, 2019, Christie’s) Patek Philippe unveiled the first Grandmaster Chime watch in 2014 as part of the many celebrations around the Genevan maison’s 175the anniversary. The reference that made history at the Only Watch auction in Geneva in 2019 was a unique piece, the only Grandmaster Chime ever crafted in stainless steel; the Grandmaster Chime models in Patek’s regular collection are all made in precious metals. The watch...

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Highlights: Independent Watchmaking at Christie’s Hong Kong Auction SJX Watches
Audemars Piguet Nov 23, 2022

Highlights: Independent Watchmaking at Christie’s Hong Kong Auction

Having looked at some of the most fascinating pocket watches and clocks on offer at Christie’s Important Watches auction that happens soon in Hong Kong, we now turn to attention to the genre that many collectors are now pursuing, independent watchmaking. As expected, amongst the offerings going on the block are works from the big names like F.P. Journe, Richard Mille, and H. Moser & Cie. But beyond the usual suspects, the sale also encompasses hidden gems, like the highly complicated tourbillon perpetual calendar by Gerald Genta presented as a Cartier Pasha. The Important Watches auction (lots 2306-2523), including watches from The Triazza Collection, begins at 1 pm on November 27 – the catalogue is available here. It’s followed by the second session (lots 2201-2282) offering watches from The Champion Collection at 7 pm – see the full catalogue here. The fully-engraved Gerald Genta movement inside the Cartier Pasha Lot 2382: Cartier Pasha Tourbillon Perpetual Calendar Considered one of the most successful watch designers of the 20th century – though his most influential designs were for Audemars Piguet and the Patek Philippe rather than his own – Gerald Genta was also responsible for some of the most complicated watches of the 1980s and 1990s when his namesake brand was at its peak. In fact, the Genta brand was so proficient at making highly complex watches that Cartier tapped Gerald Genta as a movement supplier for its top-of-the-line complications in the 19...

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Business News: Sotheby’s to Start Weekly Online Watch Auctions SJX Watches
Audemars Piguet Mar 31, 2020

Business News: Sotheby’s to Start Weekly Online Watch Auctions

Having postponed its traditional April and May watch auctions till June and July respectively – no doubt with fingers crossed and a quiet prayer – as a result of the COVID-19 coronavirus, Sotheby’s has just announced Watches Weekly, an ongoing series of online-only watch auctions starting April 1, 2020. The auctions will take place on a rolling basis, with each sale lasting a week, then followed by the next sale, and so on. Each auction be centred around a theme while being relatively compact – the first sale is made up of 19 watches by Rolex and Audemars Piguet. The subsequent auctions will be Patek Philippe Design and Horology from April 8-15, then something for bargain hunters, Swiss Wristwatches with no reserve on April 15-22. Sam Hines, Sotheby’s global head of watches, explained the move in the announcement: “[Clients] are also increasingly confident [of buying] important pieces online. This was demonstrated last week, when we set a new record for a watch sold online at Sotheby’s [162,500 Swiss francs for a Rolex Daytona “Paul Newman” ref. 6262].” According to Mr Hines, the newly-announced online auctions will “complement the calendar of live sales and other online auctions already planned for the rest of the year”, implying that the rest of the auction calendar will proceed as planned. Watches Weekly makes Sotheby’s the first mainstream watch auctioneer – its peers are Christie’s, Phillips, and to a lesser degree, Antiquorum – to s...

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