Month: December 2021

PART 2: Most Notable Watches Auctioned in November 2021

Click here for Part 1 of this Article.

In this two-part article, Watch Manila highlights some of the notable watches auctioned off in November 2021. While the Patek Philippe x Tiffany & Co. Nautilus dominated the headlines in the last few weeks, it is important to note that watch afficionados still appreciate the watchmaking landscape beyond any hype.

Here are some of the other watches which have achieved success during the Geneva auctions last month:

9. Rolex Daytona in Platinum 

Auction House: Christie’s

Estimated Price: CHF70,000-170,000 (P3.8M-9.2M)

Price Sold: CHF200,000 (P10.09M)

Clearly, the fan favorite for the Daytona is the stainless steel variation with a “panda” dial. But Watch Manila notes that the prices of platinum Rolex watches have started to increase dramatically. There is an increased demand for this precious metal. The Rolex quality combined with the rarity of platinum has propelled this watch’s price above the estimates.

10. Rolex Day-Date “Rainbow” Ref. 18058

Auction House: Phillips

Estimated Price: CHF150,000-300,000 (P8.2M-16.4M)

Price Sold: CHF792,300 (P43.3M)

In today’s watch market, the “Rainbow” Daytona is very much sought after. Around 30 years before the Rainbow Daytona, Rolex released a possibly unique piece with “rainbow” colored precious stones on the bezel for a Day-Date. This “Rainbow” Day-Date is perhaps one of Rolex’ first rainbow inspired watches.

11. Rolex Oysterquartz Day-Date Perpetual Calendar

Auction House: Christie’s

Estimated Price: CHF100,000-200,000 (P5.4M-10.8M)

Price Sold: CHF250,000 (Almost P13.6M)

There are approximately 11 pieces made of this prototype Rolex. This Rolex Day-Date Oysterquartz does not appear visually different from the other Oysterquartz. However, an inspection of the movement reveals a more complex mechanism. Rolex tried to make a perpetual calendar which can be operated through the same crown used to adjust the time. This watch is incredible as it is one of the prototypes wherein the movement is fully functional.

12. Rolex Deepsea Special

Auction House: Christie’s

Estimated Price: CHF2,000,000-4,000,000 (P109M-218M)

Price Sold: CHF1,890,000 (Almost P103M)

Unlike other watches in our list wherein the sale price exceeded the estimate, this one was slight below. However, it is worth taking a look at. Both Phillips and Christie’s offered Deep Sea Specials for the November auctions, However, the one being offered by Phillips is a commemorative edition made for the displays of the Rolex boutiques. This one offered by Christie’s was said to be used in the dive by Jacques Piccard’s bathyscaphe “Trieste” to 3,700 meters.

As Christie’s put it “This extraordinary watch can be considered as the most important Rolex diver’s watch to remain in private hands and without doubt one of the most desirable Rolex watches in the world.” 

There are only 7 known pieces of the Deep Sea Special. This piece is No.1. 

13. Philippe Dufour Grande and Petite Sonnerie 

Auction House: Phillips

Estimated Price: CHF1,000,000-2,000,000 (P54.5M-109M)

Price Sold: CHF4,749,000 (Almost P258.9M)

Philippe Dufour has clearly emerged as a leading independent watch maker. Its creations are sought after as the brand has demonstrated a near-perfection in crafting watches. The appeal of this watch is due to the fact that it is the first Philippe Dufour watch and the world’s first Grande & Petite Sonnerie wristwatch ever made.

Last time, Watch Manila featured another Philippe Dufour watch called “Simplicity” as it has no major complications. Despite the absence of complications, the Simplicity managed to do incredible as well in the auction.

14. F.P. Journe Chronometre a Resonance  “Souscription”

Auction House: Phillips

Estimated Price: CHF200,000-400,000 (P10.9M-21.8M)

Price Sold: CHF3,902,000 (Almost P212.7M)

F.P. Journe is one of the most recognized independent watchmakers in recent times. The watch shown here features resonating escapements and is the first out of a limited run of 20 pieces. The watch features a combination of platinum and pink gold case. It has been said that the Resonance of F.P. Journe was most likely inspired by A.L. Breguet.

15. Omega Speedmaster Broadarrow

Auction House: Phillips

Estimated Price: CHF80,000-120,000 (P4.3M-6.5M)

Price Sold: CHF3,115,500 (Almost P170M)

This is the most expensive Omega sold at an auction ever. This Omega carried the reference 2915-1 which makes it part of one of the first production runs of the historic Speedmaster. The dial features a tropical color which has aged. As a note, none of the preview ads of the auction even mentioned this lot. Most of the people were surprised at the result of this lot.

16. Richard Mille RM27-04 Rafael Nadal

Auction House: Phillips

Estimated Price: CHF800,000-1,600,000 (P43M-87M)

Price Sold: CHF1,663,500 (P90.7M)

Richard Mille continues to be polarizing. Nevertheless, it has established itself as a strong brand in terms of value. This RM027-04 was built to withstand the shocks during professional tennis matches of up to 12,000 Gs. And yes, it has a tourbillon. 

To visit part 1 of this article, click here.

Images are courtesy of the auction houses: Antiquorum, Christie’s, Phillips, and Sotheby’s.

Most Notable Watches Auctioned in November 2021

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Last month, major global auction houses Antiquorum, Christie’s, Phillips, and Sotheby’s held watch auctions which saw notable movements within the watch industry. Records were broken and trends emerged. Watch Manila breaks down some of the notable pieces sold in this two-part special.

Clearly, Rolex still emerged as the strongest brand in the auction month. Patek Philippe and Audemars Piguet also continued to deliver solid numbers. Aside from the said brands, it can be observed that there are winners across the board. Cartier, Omega, and Vacheron Constantin are some of the other winners. The watch market continues to display strength despite the pandemic.

Let’s look into some of the interesting watches sold during the November auctions. 

  1. Cartier Crash

Auction House: Sotheby’s

Estimated Price: CHF200,000-300,000 (P10.9M-16.4M)

Price Sold: CHF806,500 (P44.1M)

The Crash has been produced by Cartier sporadically and in limited numbers. This said model was one of the first ones ever produced. There is a rumor that says that the design of the Crash was brought about by a damaged and melted Cartier Baignoire from a crash. The watch was recently brought to the spotlight by Jay-Z and Kanye West.

2. Vacheron Constantin Ref. 222

Auction House: Christie’s

Estimated Price: CHF20,000-40,000 (P1.09M-2.18M)

Price Sold: CHF93,750 (P5.12M)

The Vacheron Constantin Ref. 222 is the ancestor of the Overseas. The 222 was released in 1977 to commemorate Vacheron’s 222nd anniversary. This watch and the Overseas have long been overlooked by collectors. In the 2010s, watch collectors became obsessed with the stainless steel-unibody watches especially from Patek Philippe (Nautilus) and Audemars Piguet (Royal Oak). As supply of Patek and AP became difficult, collectors started to realize the true value and beauty of Vacheron Constantin. With more people collecting the Overseas, the demand for the 222 has also increased. Watch Manila was one of the publications which recognized that the Overseas was a hidden treasure in the watch world.

3. Vacheron Constantin Ref. 4261 Minute Repeater

Auction House: Antiquorum

Estimated Price: CHF100,000-200,000 (P5.4M-10.9M)

Price Sold: CHF287,500 (P15.7M)

Watch Manila has observed that the watch industry in the 2010s has been dominated by a shift towards simple watches in stainless steel. With the demand heavy on the said watch class, the demand for fine watches with complications dropped. Watch Manila believes that as more collectors mature and get over the hype stage, the same crowd will start to go for undervalued fine timepieces. This Vacheron Constantin Minute Repeater in gold is a watch which could symbolize the potential up and coming resurgence of fine timepieces with complications.

4. Rolex Daytona “John Player Special Paul Newman” Ref. 6264

Auction House: Sotheby’s

Estimated Price: CHF800,000-1,200,000 (P43.7M-65.6M)

Price Sold: CHF891,200 (P48.7M)

The Rolex Daytona “John Player Special” label originated from the 1970s when John Player & Sons sponsored the Lotus F1 team. According to collectors, the JPS Daytonas are reminiscent of the design of John Player & Sons. Sotheby’s noted that most of the Ref. 6264 Daytonas were made in stainless steel. There are approximately only ten known pieces in yellow gold. From the ten, there are even fewer Daytonas fitted with the JPS dial. 

5. Rolex Daytona “John Player Special Paul Newman” Ref. 6241

Auction House: Phillips

Estimated Price: HKD4,650,000-9,400,000 (P30.1M-60.8M)

Price Sold: HKD13,560,000 (P87.8M)

In addition to the details mentioned in the previous item, it is worth noting that this is the third most expensive Rolex Daytona sold in auction. With many people being fascinated with Paul Newman Daytonas, collectors are zeroing in on John Player Specials since they are rare as well.

6. Rolex Day-Date in Stainless Steel 

Auction House: Phillips

Estimated Price: CHF50,000-100,000 (P2.7M-5.4M)

Price Sold: CHF113,400 (P6.2M)

When the Day-Date was launched in 1956, it became the ultimate Rolex watch. The Day-Date was only available in precious metals: gold and platinum. This notwithstanding, the watch sold at the recent Phillips auction was one of a few Day-Date prototypes produced by Rolex in stainless steel.

7. Steel Rolex GMTs

a.) Rolex GMT-Master II “Pepsi” Ref. 126710BLRO

Auction House: Christie’s

Estimated Price: CHF12,000-18,000 (P656k-984k)

Price Sold: CHF25,000 (P1.36M)

b.) Rolex GMT-Master II “Batgirl” Ref. 126710BLNR

Auction House: Christie’s

Estimated Price: CHF12,000-18,000 (P656k-1.094M)

Price Sold: CHF27,500 (P1.5M)

These watches do not need an introduction. The two watches are two of the hottest Rolexes in the market. In their current iteration, they retail for around P517,500. But it is almost impossible to pick one up at your authorized dealer. What’s important to note is that these watches still have strong demands as they both sold for more than double their retail price. The hunt for the steel Rolex watches continues to be tough.

8. Philippe Dufour Simplicity

Auction House: Phillips

Estimated Price: CHF250,000-500,000 (P13.6M-27.3M)

Price Sold: CHF792,300 (P41.3M)

Philippe Dufour is one of the most sought-after independent watch brands. Its pieces command high prices due to the limited production and due to the high quality of watchmaking. The watch which was recently sold doesn’t feature any major complication and doesn’t even feature a date. However, this watch is an example of how Philippe Dufour perfected the “simple” watch. What is amazing is that the winning bidder paid a mind-blowing P41.3M for the said watch.

Stay tuned for part 2 of the notable watches in the recently concluded November auctions.

Images are courtesy of the auction houses: Antiquorum, Christie’s, Phillips, and Sotheby’s.