What Can We Expect From Auctions This Fall?

Auction houses continue to smash sales records and experiment with new auction formats. 

Auctions are continuing to set record after record this year. And we're not only talking about the big three watch auctioneers: Phillips, Sotheby’s and Christie’s. Another example would be Zurich-based Ineichen Auctioneers, which has already set ten world records.

Credit for six of them goes to watches by Audemars Piguet, as the Swiss auctioneer held auctions to celebrate the 50th anniversary of the iconic Audemars Piguet Royal Oak model.

For instance, the highest price for an APRO Minute Repeater was CHF 490,000, CHF 575,000 was paid for a Royal Oak Tourbillon, CHF 420,000 for an Openworked 40th Anniversary in platinum, and CHF 135,000 for the Pocket Watch Perpetual Calendar Skeleton.

Excellent sales results were achieved by two François-Paul Journe models at Ineichen: Octa Calendrier Special Edition Sincere (CHF 347,000) and Chronometre à Résonance Special Edition Sincere (CHF 446,000), as well as De Bethune DB28 Kind of Blue (CHF 161,000). But auctioneers aren't content with resting on their laurels.

They're actively experimenting with new sales formats. In September, Phillips In Association With Bacs & Russo held the first fully online auctions in history, curated by the leading specialists at their offices in Geneva and Hong Kong.

The presentation of the auctions, catalogs, lot listing and registration for bidders — all of this took place online, without even the exception of phone calls. The role of specialists as curators was to provide recommendations to devote attention to this model or the other.

Come to think of it, experts who usually bear huge responsibility with a high level of trust vested in them by bidders were happy-go-lucky in the online format, simply explaining in a laid-back manner which lots they'd like to acquire for themselves if they had the spare cash lying around.

It goes without saying that, as always, the majority of collectors go by their own opinions, but all in all everything still turned out to be informal, lively, interesting and even gripping at times. It was an excellent experiment that deserves to be studied very carefully, and definitely one to develop on going forward.

There were no timepieces of exceptional value seen during the Geneva Sessions, Phillips' first online auction curated by watch specialists in Geneva from September 12 to 16.

However, all 54 lots were sold to realize an auction total of CHF 2,664,774, although expectations had been more modest with the general estimate fluctuating around the mark of one million Swiss francs.

Shared places in the top five featured three top models by Patek Philippe and two by F.P. Journe. In joint first place were the pink-gold Nautilus Ref. 5980/1R chronograph and white-gold Patek Philippe Ref. 5740/1G perpetual calendar, both sold for CHF 252,000.

Third place was occupied by the pink-gold F.P. Journe Chronomètre à Résonance (Case no. 230-RN) from 2007, which went for CHF 214,200. It's worth noting that a very good result was also achieved by the simple Patek Philippe Nautilus Ref. 5711/1A-011 in a steel case (42.5 mm) with a steel bracelet from 2016, sold for CHF 126,000.

The full package of lots to be sold at the main auctions this fall has almost finished taking shape. Phillips in Association with Bacs & Russo the Geneva Watch Auction: XVI is set to take place on November 5 and 6 at Hôtel La Réserve, which has already become a familiar setting for the auctions.

The approach the auction house is taking to these auctions is more than serious. The preview will showcase highly attractive lots. Over the course of October, they'll squeeze in a visit to New York, London, Tokyo and Singapore before exhibiting in Geneva on November 2 just ahead of the live auction.

The organizers believe the most coveted lot will be a perpetual calendar chronograph watch by Patek Philippe with the iconic reference number 1518. This iconic model was the first mass-produced perpetual calendar chronograph watch series.

The value of this particular piece is down to the fact that the majority of surviving examples have yellow-gold cases. But this particular model is in pink gold. Nevertheless, it's been given a traditionally cautious estimate of CHF 800,000 – 1,600,000.

Let's not forget that Ref. 1518 was discontinued and replaced with Ref. 2499 in the early 1950s, which fans of the grand maison consider the most iconic model from the second half of the 20th century.

Ref. 2499 was very rarely released with a black dial — there are only six such examples. The organizers managed to salvage one of them from the depths of an important European collection, which is estimated to go for CHF 400,000 – 800,000.

A piece considered even more rare is the Patek Philippe Ref. 530 chronograph from 1945. It's all down to the fact that this piece is the only known vintage chronograph in a 36 mm steel case with a silver dial bearing gold numerals and hands: estimate CHF 500,000 – 1,000,000.

An army of Rolex fans are bound to be delighted by the very representative selection of Rolex Daytona Cosmograph models with Paul Newman dials in the most diverse range of tones: from the rare "Lemon" and "Champagne" dials in yellow-gold cases to the extremely rare steel "Oyster Sotto" Ref. 6263 with a black dial and white counters.

And the rarest Rolex lot will be none other than a Ref. 6239 "Tiffany" chronograph. The retailer Tiffany & Co acquired just three known examples in 1969, and one of them has finally resurfaced out of the blue. 

An individual estimate hasn't been assigned to each Paul Newman chronograph, Ref. 6263 and Ref. 6241 have been given the same estimate of CHF 400,000 – 800,000.

The most interesting models by contemporary independent manufacturers worth paying attention to include a privately commissioned Philippe Dufour Simplicity watch with the combination of a slate-gray dial, full pink-gold Breguet numerals and pink-gold hands, never seen at auction before. Its estimate is CHF 350,000 – 700,000.

We expect there to be interest across the board in one of the first F.P. Journe Resonance pieces. It was the first wristwatch in general with two balance wheels oscillating in harmony (estimate: CHF 180,000 – 360,000). Another watch expected to attract general interest with double stacked balances beating in unison is a Vianney Halter La Resonance Prototype.

This is an unusual lot if only for the fact that the watch was made in March this year by an ingenious watchmaker who only creates when he feels inspired to do so. So we can't rule out the possibility that this Resonance will remain a prototype forever. Its estimate is CHF 100,000 – 200,000.

The auction will also present extremely interesting work by other "fashionable" creators: Kari Voutilainen, MB&F, Urwerk, Grönefeld and De Bethune. However, by no means does the list for November end with the auctions in Geneva. We're in for very interesting auctions by the same Phillips in Hong Kong, along with other auctions by the giants Sotheby’s and Christie’s.