Watch Auction Genèva May 2010

May 11, 2010

This past weekend four watch auctions took place in Genèva, at Patrizzi and Co., Antiquorum, Sotheby's, and Christies. The results were very strong with sales totaling over 40 million Swiss Francs (CHF) for all four sales. The bulk of the sales occurred at Christies (23.1 million CHF) which featured a major Patek Philippe wristwatch collection. The highlight of the collection was a unique Patek Philippe Perpetual Chronograph Moon Phase reference 1527 that was estimated at 1.5 to 2 million CHF, and it brought 5.5 million CHF plus commission. Christies sold watches valued in the 300,000-500,000 range like they were candy.

One of my favorite highlights at Sotheby's was a grouping of thirty seven 1950's original enamel wristwatch dials that were estimated at 6000 to 8000 CHF and they brought 144,000 CHF.

Antiquorum had a wonderful collection of LeCoultre clocks which performed well and their cover lot which was a highly complicated pocket watch that had a two train Grande and Petite Sonnerie clock watch with trip minute repeating and one minute tourbillon brought 366,000CHF.

Patrizzi and Co. had incredible results with Breguet manuscripts that brought 2.2 million CHF. However, Patrizzi's computers were hacked and there was no online bidding after their second lot which was devastation for them given the increased amount of worldwide online bidding. They still managed to sell over 5 million CHF in a small 200 lot sale.

Rolex sports models in excellent condition performed well at the auctions including certain Rolex Paul Newman's that brought 90,000 CHF (Sotheby's) plus commission and a Rolex Double Red Patent Pending Sea Dweller that brought 84,000.CHF. Another great result was the Rolex rose gold Data Compax reference # 6036 which brought 402,000 CHF.

All sectors of watch market performed well at the auctions from Rolex sports models, pre owned modern, complicated and enamel pocket watches to important vintage Patek Philippe. Even in the strange economic environment the watch market remains stable.