Today May 14, 2014 Sotheby's Important Watches Auction took place in Geneva. While this auction didn't bring as much attention and high bidders as the Christie's auction two days ago, some interesting selling activity took place.
We do have to say, that we are quite surprised that many very interesting lots did not sell and those lots that were expected to fetch very high amounts, ended up realizing mediocre amounts under the low estimate or right in the middle.
While Sotheby's Important Watches Sale in Geneva taking place tomorrow May 14, 2014 won't be as big as the Christie's sale, it for sure will have some wow factor coming from 23 lots that we will be following very closely. This upcoming sale taking place tomorrow in Geneva, includes 342 lots divided in two sessions:
Yesterday, May 12th, 2014, Christie's Important Watches Sale in Geneva brought in a total of $27,230,528 USD Inclusive of Buyer's Premiums. Once again and surpassing all expectations, this sale surpassed last year's Christie's Rolex Daytona "Lesson One" Auction —a prestigious single-themed evening auction featuring 50 exceptional examples of the world's most celebrated chronograph wristwatch, that totaled $13,248,167 USD while selling 100% by lot and by value.
In a little bit over two weeks, Leslie Hindman Auctioneers here in Chicago will host their most important fine timepieces auction ever with 91 lots. We have already shown you the star of their auction, the Patek Philippe 18K yellow gold Perpetual Calendar with Moon Phases ref. 3448 with Tiffany & Co. dial here, as well as a very interesting Rolex Explorer II ref. 1655 'Freccione' a.k.a Steve McQueen here; however, there are at least twelve other lots —out of a total of 86— that are quite exceptional and that also caught our wandering eyes while we previewed them last week. These timepieces are definitely worth talking about and previewing on site before April 8th. Among our favorite timepieces to be auctioned, there are a wide variety of vintage and modern Patek Philippe watches, several vintage Vacheron Constantin, a couple Audemars Piguet Jules Audemars, two Rolex Submariners ref. 6536/1 and two chronographs we really liked. Now, let's show you these twelve exceptional watches we really liked.
In the auction, there are three Patek Philippe Pagoda ref. 5500 that were released in 1997 as limited edition watches to commemorate the opening of the new Patek Philippe manufacture. The watches were produced in the following quantities: 1,100 in yellow gold, 500 in rose gold, 250 in white gold and 150 in platinum. During the auction, all models with the exception of the white gold reference will be offered in individual lots all accompanied by their boxes, papers, certificates and even a commemorative silver coin mint by Patek Philippe to commemorate the occasion. Interestingly enough, the yellow gold model still has the 'Poinçon de Genève' —Geneva Seal— tag attached to it. Our favorite Pagoda ref. 5500 is the rose gold model. Estimates range all the way from $12,000 to 50,000 USD depending on the metal. UPDATE: Platinum fetched a hammer price of $32,500, 18K Pink Gold $27,500 and Yellow Gold $21,250.
Another interesting timepiece is a Patek Philippe ref. 5015 with moon phase, subsidiary seconds and power reserve indicator that is being offered with box and papers including the certificate. The Patek Philippe ref. 5015 is one of the most iconic Patek references and a watch equipped with a hinged solid case back that can be opened like on vintage pocket watches to admire the movement. The estimate for this piece is $15,000-20,000 USD. UPDATE: Hammer Price before Buyer's Fees $25,000.
The Patek Philippe ref. 5100 was released in 2000 as a limited edition watch —1,500 pieces in yellow gold, 750 in rose gold, 450 in white gold and 300 pieces in platinum— to commemorate the arrival of the new millennium. The watch fitted with a case that recalls the lines of a manta-ray in 18K yellow gold, houses a 10-day power reserve manual wound movement. A beautiful silvered dial with power reserve indicator at 12 and subsidiary seconds at 6 o'clock rounds out the elegant look of this watch. This watch is also accompanied by box, papers, certificate and a commemorative silver coin. Estimate $30,000-50,000 USD. UPDATE: Hammer Price $35,000 USD.
These two vintage Vacheron Constantin manual wound watches circa 1950 —in individual lots but why not getting them as a pair. One of them in 18K rose gold with matte silvered dial and Arabic numerals and the other in 18K yellow gold with a so called 'tuxedo' dial have very fair estimates and feature extremely appealing dials with subsidiary seconds at 6 o'clock. Frankly, it really doesn't get more classic and elegant than with a pair like this. Estimates ranging between $3,000-6,000 USD.
Now, let's talk about one of our favorite Vacheron Constantin watches to be auctioned. We are talking about a vintage 18K rose gold Vacheron Chronograph circa 1949. The watch features rectangular chrono pushers, silver dial with applied markers and Roman numerals at 12 and 6 o'clock, a running seconds register at 9, a 30-minute chrono register at 3 o'clock and a telemeter scale on the perimeter of the dial. Estimate $15,000-20,000 USD.
Another amazing timepiece and likely to be a heavy hitter in this auction, will be a skeletonized Audemars Piguet Jules Audemars Quantieme Perpetuel in 18K yellow gold. This perpetual calendar watch is a perfect example of the attention to detail and craftsmanship from our friends from Le Brassus. The estimate —somewhat low in our opinion— has been set between $15,000-20,000. The other Audemars Piguet that we liked, is a Jules Audemars Day and Date circa 1990 fitted with a gorgeous white ceramic dial with black Roman numerals chapter ring and accompanied by its box, leather case and instruction booklet. This is a perfect first Audemars Piguet watch for any young collector wanting to avoid breaking the bank. Estimate $3,000-5,000 USD.
At the beginning of our post, we told you about two Rolex Submariners ref. 6536/1, well, here you have them. While these two Rolex Submariners ref. 6536/1 might not be in the best condition, they might still fetch some interesting dollar amounts because of their cases and bezel inserts. One of them, an example circa 1957 is fitted with a red triangle 12 o'clock marker bezel insert and a refinished dial —a collector's disgrace. To make matters worse, the dial on this watch is no longer a gilt dial —as it should've been—, but a dial with the sloppiest refinishing job we've ever seen. As you can see in the pictures even the hands got painted white and everything else on the dial looks really off, but if you can get past that then it might be a good opportunity. Estimate for the first watch $2,000-4,000 USD. UPDATE: Hammer Price $8,750 USD.
The second Rolex Submariner ref. 6536/1 circa 1956 features a beautiful ghost bezel insert, a dial that appears to be correct for the time period, riveted oyster bracelet marked 7-62 and hands that to our trained eyes seem to be off. Estimate for this one $8,000-12,000 USD. UPDATE: Hammer Price $10,625 USD.
Lastly, we have two favorite chronographs. The first one, a vintage 18K yellow gold Longines Flyback Chronograph 13ZN circa 1945 and the other, a mint Girard-Perregaux Ferrari Edition Chronograph in Titanium with Carbon Fiber dial. While the Longines is a two-pusher example of the 13ZN Flyback chronograph with a very nice silvered dial with applied gold Arabic numerals and blue telemeter scale with an estimate of $3,000-5,000 USD, the Girard-Perregaux is an exceptional example of their collaboration with Ferrari in the late 90s and early 2000s with an estimate between $1,000-2,000 USD.
Ladies and gentlemen, you now have a good idea of what's in store for you at the upcoming Leslie Hindman fine timepieces auction. If nothing here sparked your interest, there are more timepieces in their catalog that you might fancy so make sure you download your copy. Now, if after that you still don't feel like bidding on anything, at least you will have fun guessing what some of these watches will end up fetching. We will for sure update you with the results from the auction.
Disclaimer: Please do not use our images or content as your buying guide or condition report for these watches. Only Leslie Hindman Auctioneers can provide you with such information.
For more info on Leslie Hindman Auctioneers click here.
Earlier this week, we told you about the upcoming Timepieces auction sale at Leslie Hindman Auctioneers to take place here in Chicago on April 8th. We also told you that we would be featuring some of the most interesting timepieces to be auctioned; therefore, today, we are talking about this amazing vintage Rolex Explorer II ref. 1655 'Freccione' a.k.a Steve McQueen featuring a correct time period MK I 'Frog Foot' Rolex coronet dial, MK I bezel, straight seconds hand and accompanied by the original warranty papers dated 1972.
This fabulous 'one-owner' watch was originally purchased in Buenos Aires at the renowned jeweler Walser, Wald & Cia. The punched papers show a purchase date of August 25, 1972 and we can tell by the condition of the watch, that it was probably the owner's daily beater for more than 40 years. Something we love about vintage Rolexes like this one, is the rich history that comes with them and the memories that were collected by the timepiece while on the owner's wrist for decades.
The Rolex Explorer II ref. 1655 nicknamed by collectors as the Steve McQueen or 'Freccione' by some Italian collectors because of the bright orange arrow-shaped 24-hour hand on the watch —the word 'Freccione' comes from the Italian word 'Freccia' which means "arrow"— was only produced by Rolex from 1971 through 1984. During the time of its production, the Rolex Explorer II ref. 1655 'Freccione' a.ka. Steve McQueen watch went through up to five slight dial variations —which we will explain later—, two different seconds hands —straight seconds hand and seconds hand with dot— and even up to four different bezel variations including a MK I bezel with thick font and numbers closer to the plexiglass, a MK II bezel with thick font and centered numbers, a MK III bezel with thin font full size numbers and lastly a MK IV bezel with thin font and slightly reduced numbers when compared to those on the MK III.
At the time of its launch, the watch was intended to be a 'tool' watch for cave explorers that after spending days in a cavern, couldn't tell if it was day or night outside. A problem that was easily solved by the 24-hour orange arrow-shaped hand that along with the 24-hour military time bezel, would help them identify day or night times with ease. Interestingly enough, the 24-hour hand was originally crimson red between 1971 and 1974 as seen on Rolex catalogs and advertisements from the era, but today, discolored by time, they appear orange to yellow and sometimes almost white as in the so called 'Albino' Explorers.
Now, when it comes to the dial variations, the Explorer II ref. 1655 'Freccione' experienced some variations that included the use of different Rolex coronets such as the 'Frog Foot' shaped coronet —one of the most unique and rare and only present on watches from 1972 thru 1977—, the use of a slightly bigger font and different alignment on the 'Superlative Chronometer...' writing originating the Mark III 'Rail Dial' from 1974 thru 1977 and lastly around 1977-1978 the inclusion of the writing 'T Swiss <25 T' —instead of 'T Swiss T'— on the MK IV and MK V dials. The purpose of including the 'T Swiss <25 T' writing was to alert owners of the use of tritium —a radioactive substance emitting less than 25 mCi— as the luminescent material used on the hands and markers of the watches.
This particular Explorer II ref. 1655 'Freccione' circa 1972 that will be up for auction at Leslie Hindman Auctioneers at the beginning of April, features a correct time period 'straight seconds hand' with no dot —a characteristic that is only present on 1655s produced between 1971 and 1974—, a MK I bezel, silver calendar wheel with open 9s and 6s, reference and case number engravings visible to the naked eye, original oyster folded link bracelet with service clasp and what to our trained eyes seem to be the original hands.
On the wrist, the iconic presence of this reference is just fascinating and breathtaking. One thing we've always noticed when wearing an Explorer II ref. 1655 'Freccione' is that the watch wears slightly smaller than its actual size, but frankly, who cares about that when shopping for a highly coveted discontinued Rolex reference like this one.
Leslie Hindman gave this watch an estimate between $8,000 and $12,000 USD —which seems quite reasonable. It will be quite interesting to see next month how much this watch ends up fetching. UPDATE: Hammer Price $15,000 USD.
For more info on Leslie Hindman Auctioneers click here.
Disclaimer: Please do not use our images or content as your buying guide or condition report for this watch. Only Leslie Hindman Auctioneers can provide you with such information.
On April 8, 2014 our friends at Leslie Hindman Auctioneers will host perhaps the most impressive Timepieces auction in their history. This upcoming sale No. 294, will include 91 lots with rare and exclusive timepieces coming from different Estates including the property from the Estate of Gerard L. Cafesjian from Naples, FL, the property from the Estate and Trust of Elise Reeder Olton from Boca Raton, FL, the property from the Collection of a Member of the Royal Family of the United Arab Emirates and a property of a Palm Beach Estate. The auction, to take place next April 8th at 5:30pm CST, will include several highly collectible Patek Philippe timepieces as well as a nice assortment of vintage and modern timepieces from Vacheron Constantin, Audemars Piguet, Girard-Perregaux, Rolex, Longines, IWC and Corum amongst others —we will be showing you in the next weeks some of the special pieces they will be auctioning. Nevertheless, the star of the auction without a doubt will be a very rare Patek Philippe 18K Yellow Gold Perpetual Calendar with Moon Phases ref. 3448 for Tiffany & Co. with movement number 1,119,164 and case number 325,520.
This fascinating Patek Philippe 18K Yellow Gold Perpetual Calendar with Moon Phases ref. 3448 for Tiffany & Co. circa 1970, features an 18K yellow gold case measuring 37.50 mm in diameter and 12 mm in thickness. The watch features a silvered dial with day and month apertures at 12, a date and moon phase indicator at 6 o'clock, dauphine hands, pearl minute track, raised gold hour markers and with the Tiffany & Co. imprint on the dial as this particular watch was originally sold by them.
While this example to be auctioned next month, is nowhere near the rarity of the Patek Philippe 18K Yellow Gold Perpetual Calendar with Moon Phases ref. 3448 Blue dial from 1978—probably a unique piece and only three other examples with color dials— sold at the Christie's auction in Geneva on November of 2013 for a hammer price of $684,626, we are confident that this watch will fetch some serious money. The estimate for this special piece is between $70,000 and $90,000 USD but we are confident the hammer will come down at a higher amount.
Only 586 pieces were ever produced of this fine and rare Patek Philippe ref. 3448 between 1962 and 1985, mostly in yellow gold with handful of examples in white gold and two or three in platinum. The ref. 3448 was the first automatic Perpetual Calendar with Moon Phases and the current example features the upgraded calibre 27-460 Q. Patek retired the ref. 3448 and replaced it with the ref. 3940. The watch is fitted with a snap-on solid case back and correctors for the perpetual calendar and moon phase around the case band. The watch is fitted with an original Patek Philippe black lizard strap with original Patek Philippe 18K yellow gold buckle.
Next month we'll get to see if the current price trend that was set in Geneva at the Christie's auction will continue for these rare and coveted Tiffany & Co. Pateks. As expected, on the wrist this watch couldn't look or wear any better. Ladies and Gentlemen, make sure to check the results of the auction next month or even better, let us know if you became the new owner of this beautiful watch on April 8th. Based on what we have seen in the market in the past couple of months, this watch could sell for another record-breaking amount. Everything is possible when it comes to Pateks. UPDATE: After last night's auction we are pleased to inform you that this watch fetched a hammer price of $182,500 before any buyer's fees.
For more info on Leslie Hindman Auctioneers click here.
Disclaimer: Please do not use our images or content as your buying guide or condition report for this watch. Only Leslie Hindman Auctioneers can provide you with such information.
Today, we stopped by Chicago's leading auction house Leslie Hindman Auctioneers and found several amazing timepieces going for sale during their Fine Timepieces Auction Sale 280 taking place this next Monday December 9th at 5:30pm CST. Among the rarities and special timepieces to be auctioned, we came across Lot 51, an amazing mint Pre-Vendome Panerai Luminor Marina ref. 5218-203/A in a full set accompanied by its outer blue box, wooden box, Panerai booklet with certificate dated November 9th, 1994, service documentation affixed to the booklet, additional brand new and unused Panerai Pre-Vendome strap, Panerai screwdriver and even a set of four new screws for those that tend to mar their screws when changing straps.
This amazing watch is fitted with a titanium nitrate treated stainless steel case measuring 44 mm in diameter, a matte black dial with small seconds at 9 o'clock and fitted with the manual wound Unitas calibre UT6497. Only 200 pieces were ever made of this timepiece and we consider this watch to be even more special because of its extremely low serial number 0002. This is what we call "a true Panerai collector's dream come true". Our educated guess, is that this watch will be selling on Monday around the low of the estimate which is set at $35,000-55,000 USD. Update: The watch fetched a hammer price of $30,000 USD yesterday evening.
We will know let the rest of our pictures, do the talking. Please do not use this images or our content as your buying guide or condition report for this watch, as only Leslie Hindman Auctioneers can provide you with such information.
For more info on Leslie Hindman Auctioneers click here.
Press Release
November 13, 2013. Geneva, Switzerland—The Breguet Museum and its President, Marc A. Hayek, have acquired three exceptional Breguet watches that made their mark on Fine Watchmaking history, for a price of nearly 1.5 million Swiss Francs. Among the purchased lots, an extremely rare, highly complicated pocket watch, the Breguet No. 4691. Bought at Christie’s and Sotheby’s auctions in Geneva on Monday November 11th and Tuesday 12th respectively, these masterpieces complete the already important collection of the House.
Sold on July 3, 1833 to the Marquis d’Abercorn, the first watch, No. 5015 went for the price of 38,000 Swiss Francs. This pocket watch is one of the very first watches ever made by any watchmaker featuring a keyless stem winding and hour setting system. Created in 1830, this invention is the ancestor of all modern winding mechanisms, consisting of a knurled winding button to be turned from left to right until a stop was reached. Spanning three Breguet generations, from founder Abraham-Louis and his contribution to the development of the keyless winding and hour setting mechanism, to his son Antoine-Louis who perfected and commercialized it, then the latter’s son Louis-Clément who sold it only 6 weeks after taking reigns of the firm, the No. 5015 is an important witness of the work and legacy of the House of Breguet.
The second antique piece, well-known as the No. 4420 is a historically important 18K gold and silver hunter case cylinder watch. With eccentric hour and minute dials, gold Breguet hands and surmounted by the advance/retard slide, it was purchased for more than 240,000 Swiss Francs. This pocket watch was bought on October 3, 1825 by King George IV of Great Britain. Like his father, King George IV was an aficionado of fine watches and clocks and one of A.L. Breguet’s earliest clients, admirers and most loyal customers. With this acquisition the House took the exceptionally scarce opportunity to acquire one of the Breguet’s “Royal” watches.
Last but not least, the third watch is an extremely rare extra-flat half-quarter repeating pocket watch. Sold on October 13, 1831 to Lord Henry Seymour Conway, the No. 4691 is one of the most complicated watches to have been made by Breguet in such a slim case. With a thickness of 7.7 mm, this Repeater watch displays equation of time, power reserve indication, calendar and moon phase based on chronometer principles. Reflecting the constant search for innovation that has characterized Breguet’s production since the 18th century, boasting an exceptionally large number of complications for a watch of this time, this prestigious timepiece was purchased for more than one million Swiss Francs.
Montres Breguet is proud to announce the arrival of these treasures at its museums. This unique event confirms Breguet President and CEO Marc A. Hayek’s commitment to preserving the Manufacture’s historic and cultural legacy.
For more info on Breguet click here.
Today, November 11, 2013, another historical day is setting records in Geneva at the Christie's Important Watches Auction. This time the auction comprising 406 lots overall, is led by an exceptionally rare 18K pink gold Patek Philippe perpetual calendar chronograph with moon phases, ref. 2499, manufactured in 1951 and encased in 1957 with an original estimate between $1,101,301-1,651,951 USD, that has fetched the incredible amount of $2,186,081 —inclusive of buyer's premium.
The Important Watches auction is still in progress and during intermission at this time. The auction will resume at 3pm —Geneva time— for the lots 194-406. We will be reporting the results upon completion of the auction as there are other very rare and important timepieces being auctioned today. Stay tuned!
For more info on Christie's click here.
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