Auctions Hot November Weekend

The first weekend of November is set to be the hottest in history for collectors and fans of haute horlogerie.

While auctioneers at Christie’s London on 8 King Street will be kept busy as auctions go live from Geneva for Only Watch's unique lots, another bidding battle will unfold for lots representing the very best in watchmaking spanning the 20th and 21st centuries at the Geneva Watch Auction XIV.

 The latter will be run by Phillips in Association with Bacs & Russo at the Hôtel La Réserve, situated between Geneva and the city's airport. Phillips in Association with Bacs & Russo have sought to make the auctions as convenient as possible for collectors by stretching the event out over three days, beginning on Friday November 5 and ending on Sunday.

Over that weekend, main lots from more than 40 brands will go under the hammer. According to the organizers, the most coveted prize is expected to be a Patek Philippe Ref. 2499 perpetual calendar chronograph watch with its case secured on a yellow-gold bracelet. 

This is no obscure reference number for collectors by the way, as it was made for the major Venezuelan luxury watch retailer Serpico y Laino. The watch only recently resurfaced in astonishingly well-preserved condition. Experts have verified that the case and bracelet are in mint condition without any losses.

What makes this model particularly rare is the retailer's poinçons or hallmarks on the case and buckle, required by Venezuelan law. Its estimated price ranges from CHF 2,000,000 to 4,000,000

The second potential record-breaker is predicted to be another Patek Philippe perpetual calendar referenced 2497 with a white-gold case and a bracelet with “Florentine” finish. There are only believed to be three of these watches left on Earth. That's why it's expected to be sold for CHF 1,500,000 - 3,000,000.

Luxury watch king Rolex is well represented as always, but there are two models which are worth highlighting in particular. The first one is the extremely rare Rolex “Deep Sea Special” model in a two-tone steel and yellow-gold case.

It was launched in 1965 to commemorate the record for the deepest dive set on January, 23, 1960, when Jacques Piccard and Don Walsh plunged 10,916 meters down into the Mariana Trench.

The prototype of this watch which accompanied a submarine called the Bathyscaphe Trieste was created in 1953. Only five of these models have ever been sold at auctions. That's why the estimate is relatively high, pitched at around CHF 1,200,000-2,400,000.

There's expected to be just as much excitement about a Rolex Oyster Day-Date model from 1987. Its case and bracelet are made of yellow gold while its bezel is encrusted with multicolored precious stones. That essentially makes it none other than the first Rolex Rainbow.

It was probably commissioned by an individual client, given that Rolex wasn't even planning on making rainbow watches back then. Yet for some reason, the estimate set by the organizers predicts a modest fate of CHF 150,000 - 300,000 for this watch.

At the same time, the organizers are confident about a set of four watches by the modern watchmaker and current collector's favorite Philippe Dufour. The set includes two minute repeaters which both happen to be number one in their series: the Grande & Petite Sonnerie Pocket Watch (estimated at CHF 400,000 - 800,000) and the Grande & Petite Sonnerie Wristwatch (estimated at CHF 1,000,000 - 2,000,000).

The set includes two minute repeaters which both happen to be number one in their series: the Grande & Petite Sonnerie Pocket Watch (estimated at CHF 400,000 - 800,000) and the Grande & Petite Sonnerie Wristwatch (estimated at CHF 1,000,000 - 2,000,000).  The Duality watch with two balance wheels is one of three models in a pink-gold case and the last piece in the series of eight. Its sister was sold for close to USD 1 million four years ago in New York.

This one is expected to go for CHF 800,000 – 1,600,000. The last model in the set is the understated three-hand Simplicity model in a 37 mm platinum case numbered 57 (estimated at CHF 250,000 - 500,000). Phillips has given the complete set of five Journe Souscription N°1 watches an estimate which is a little more modest. The platinum Tourbillon à Remontoir d’Égalité with a remontoir system (constant force device) isn't expected to exceed CHF 300,000 - 600,000.

The famous Chronomètre à Résonance in a platinum and pink-gold case is estimated at CHF 200,000 - 400,000, although it's one of only three models with a white-gold dial. Finally, there's the platinum trio from the Octa Collection: Octa Réserve de Marche, Octa Chronographe and Octa Calendrier. Apparently, these three aren't expected to surpass CHF 460,000. We wouldn't be so sure about this meager estimate.

After all, there's expected to be some intense bidding over the same Chronomètre à Résonance that Journe released for Harry Winston as part of the Opus project when it's auctioned off in Geneva at the beginning of November (by the way, the model is none other than the Opus 1). Experts reckon that would-be owners will be prepared to part with around half a million Swiss francs for one of six Opus 1 models with the following features: a purple dial, copper numerals and a diamond–encrusted bezel.

In fact, a true sensation was witnessed just recently at the Phillips INTERSECT: Online Auction, where various works of art were sold in addition to watches from September 16 to 23 in Hong Kong. Contrary to all expectations, the most expensive watch wasn't the Patek Philippe Ref. 5370P-001 split-seconds chronograph, nor was it the steel Patek Philippe Nautilus Ref. 5711/1A-010 with center seconds and a date display.

It was a platinum model by the very same François-Paul Journe called Vagabondage III (the 56th piece in a limited 69-piece series). It's famous for being the first mechanical watch with digital jumping hours and seconds. The watch went for HKD 3,024,000 (about EUR 327,000). Although the estimate which the chronograph more than tripled was equal to that set for Nautilus at HKD 310,000 – 620,000 (Ref. 5370P-001 went for HKD 1,512,000 in the end).

Overall, watches made by the great contemporary watchmaker François-Paul Journe are increasing in value, and it would be fair to say prices are going up at a dramatic rate.