New term report: the watch auction market in 2018 so far
As we head into the crowded autumn auction season, we take a look at the major vintage watch trends of 2018, and consider what lies ahead
By Simon de Burton
To say the watch auction market is going through interesting times at present is a dramatic understatement. Where once Patek Philippe and Rolex seemed to be the only dial names worth collecting, now the roster of pre-owned marques achieving notably high prices is growing, with Omega, A. Lange and Sohne, F. P. Journe, Richard Mille, Audemars Piguet and several others now also among the ones to watch.
And, while the best vintage Patek Philippe wrist watches have traditionally attracted sums leagues ahead of the most expensive Rolex models, last year’s remarkable sale of the ex-Paul Newman Cosmograph Daytona for a still scarcely believable $17.8m turned the tables dramatically, presaging the auction this June of a circa 1956 Submariner with ‘3,6,9’ ‘Explorer’ dial for an unprecedented $1,068,500 at Christie’s.
The original Rolex “Paul Newman” Daytona
But is it possible that everyone is getting a little bit too excited" In my opinion, a hint that the auction houses might be in danger of getting above themselves is evident in the much discussed sale of the ‘Steve McQueen’ Submariner that was due to cross the block at Phillips in New York on October 28 with a pre-sale estimate of $300,000 – 600,000.
...
-------------------------------- |
|