Mein Genfer Uhren Auctions Report - November 2016.......
The “Freak Show” is over! We vintage watch lovers finally get international recognition after the steel Patek Philippe sold for 11 million swiss franc! For years people thought that we (the hardcore group of international collectors & dealers) where crazy spending serious money on steel vintage watches while everyone was buying new complicated gold timepieces as an ‘investment’. Since last Saturday evening after the record breaking bid on the steel 1518 collecting vintage watches has become an established market. Just like collecting vintage cars or art, vintage watches have a bright future ahead. More then triple times the estimate was the result of the effort Aurel Bacs and his team got for selling this exceptional important Patek Philippe…
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11 million all in world record is hammed down by maestro Aurel Bacs at Phillips in Geneva…
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Melancholically i’m looking back to some 3.5 years ago when I was commissioned to offer € 4 million for this steel Ref 1518 but the strong offer got rejected. A lot has happened since those last 2 years in the vintage watch market. As a close spectator I can assure you that I noticed that new, mostly young, collectors are stepping up. Actually the usual suspects where very reserved this auction weekend, hence the some what disappointing results of for instance of the Rolex cloisonné dragon. Nevertheless achieving all over good results tells me that the market is very strong for quality. As we for instance also see in the established art & car market, the supply of great quality has become the mayor problem for auction houses. That doesn’t mean these don’t come to offer but instead of going public, owners choose to sell directly in privat, stimulated by social media like Instagram.
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As i’ve said many times before, quality will rule the future, no matter the reference. Finding a fresh vintage Rolex at auction has become en exception and only happens 1 or twice nowadays. Antiquorum had a great tropical brown Ref 6238 of which you could argue if the dial was born in that case but the stunning caramel color doubled the estimate to hammer down at 250K all in that’s CHF 305.000,=
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Phillips Watches is indeed the most important auction house at the moment. As big as Christie, Sotheby’s and Antiquorum combined the market leader perform again selling 93% of the lots and 97% by value. You can read their news over here on their website. Christie’s 14.7 million swiss franc auction sales you find here. Antiquorum’s 5.3 million swiss franc auction news and results you find here and Sotheby’s auction sales you find over here. Below, James Bond arrived ��
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Now I’ll show you some of my impressions of last weekend. It was again SUPER cool to meet so many great friends during the auctions. I’m always amazed to see guys from all around the world checking in to Geneva for the auctions! Safe travels guys!!
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The “Tiffany & Co” Oyster Paul Newman sold for € 815.000,= and the special “Linz” Paul Newman sold for € 820.000,=
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The tropical sub in the right sold for € 525.000,= all in and went to a nice dealer…
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The Cloisonné Dragon sold for CHF 670.000,= all in.
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The Big Crown ref 6200 at Christies sold for CHF 272.000,= all in.
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The Underline Doule Swiss Daytona Ref 6239 sold at Phillips all in for CHF 310.000,=
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Es was super nett euch Deutschen wieder zu treffen in Genf :cheers:
Cheers,
Philipp
