Time Is Money: Investing in Luxury Watches
Written by drbob on November 26, 2011 – 5:24 am -By: James Longman Special to CNBC.com Rarity, complexity and condition make all the difference when looking for a luxury watch. But while there are major gains to be made, it takes a good eye to know the difference between a clever investment, and a waste of time. In such a vast and specialist industry where prices range from $1,500 into the millions, it’s difficult to know where to start. But the prospective investor can head to auction to find some of the most lucrative deals on luxury time pieces. Geoffroy Ader of Sotheby’s says demand is highest for the best known names. "Most demands are based on the brands …the two ‘star’ brands are Rolex and Patek Philippe," Ader told CNBC. Alfredo Paramico, fund manager at Precious Times which... more
Tags: vintage patek philippe, vintage rolex watches, vintage watches
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Vintage Watches: The Lure of Luxury
Written by drbob on September 26, 2011 – 12:34 am -The world economy may be sitting in a ditch, but cashed-up collectors are still shelling out stratospheric sums for rare, vintage and collectable watches. This year's top ticket item so far is a 1928 Patek Philippe, which changed hands at auction for a cool SFr3.24 million ($3.81 million). Another wealthy bidder snared a 1942 Rolex for SFr1.04 million ($1.22 million); the highest price the make has ever fetched at auction. Australia has its share of high-end fanatics - those prepared to spend six figures on limited edition models from the big Swiss brands - and a bombardment of luxury watch advertisements in glossy weekend magazines aims to woo the rest of us. In fact advertising spend for watches in Australia rose over 20 per cent to $20.2... more
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Geneva Vintage Watch Auctions net 38.9 million Swiss Francs
Written by drbob on May 20, 2011 – 10:41 pm -Auctions ticked through five centuries of watch making in Geneva. Sales at Sotheby's and Antiquorum on Sunday, followed by Christie's on Monday, spanned decorative antique pocket and pendant watches to today's icons of the trade, such as Patek Philippe and Rolex. In two days, the three auction houses sold timepieces for a total value of 38.9 million Swiss francs (€31 million). "The market is expanding," says Aurel Bacs, international head of Christie's watch department. "The number of bidders is growing from season to season." Christie's result of 23.4 million francs was a 25% increase from the Geneva auction a year earlier. A rare, oversized stainless-steel splitsecond chronograph from 1942 set a world auction record when the Rolex wristwatch... more
Tags: vintage patek philippe, vintage rolex watches, vintage watches
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Patek Philippe Ref 2419 Brings $710,500 At Auction
Written by drbob on April 10, 2011 – 2:14 am -Antiquorum conducted a highly spirited and extremely successful auction of modern and vintage timepieces on March 10, totaling $4,460,162. The auction of 275 rare and collectible timepieces drew a standing-room-only crowd, in addition to 301 registered Internet bidders and phone bidders from around the world. Aggressive international bidding came from countries such as China, the Russian Federation, Qatar and Canada, as well as from across the United States. Strong prices were achieved, resulting in 81 percent sold by lot and 125 percent sold by value. Patek Philippe Ref 2419 minute-repeating wristwatch retailed by Cartier in 1950 was the sale's top lot, selling to a Chinese bidder for $710,500. The competitive bidding for the exceptional... more
Tags: vintage patek philippe
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Watches Worth Collecting
Written by drbob on January 22, 2011 – 5:27 am -Lauren Sherman, Forbes Magazine One-of-a-kind timepieces. Collectors of six-figure watches aren't hesitating when the perfect piece comes along. Last month Geneva watch auctioneer Antiquorum sold three rare Patek Philippes for $564,00, $684,000 and $780,000. Julien Schaerer, Antiquorum watch director, says such sales make sense; these timepieces will probably hold their value better than something worth a mere $20,000. "As the recession set in, [collectors] began searching for more and more unique items. Their knowledge has increased to the point that the small details matter," says Schaerer. "They're willing to pay more for something that is one of a kind." Patek Philippe 1436 Split chronograph Sold May 2009 $1.1 million Consider this square-button,... more
Posted in Girard Perregaux, Patek Philippe, Vacheron Constantin, Vintage Wristwatches | 2 Comments »