A previously unknown Patek Philippe world timer (Reference 2523) with cloisonné enamel dial tops the lots at the Phillips Geneva Watch Auction XIII, scheduled for May 8 and 9 in Geneva. But alongside that ultra-desirable watch, estimated at CHF 3.5 million, collectors can also bid on rare watches from Cartier, Audemars Piguet, F.P Journe and Rolex, among many others.
This Patek Philippe Ref. 2523 is one of three with a Silk Road cloisonné enamel dial. It’s a top lot at the upcoming Geneva Watch Auction by Phillips on May 8 and 9.
That top lot, the Patek Philippe Ref. 2523, was first launched in 1953 and features a 36mm case, which at the time was considered large. The watch’s city ring is an integral part of the dial rather than being engraved on the bezel. Two versions were available, with reference 2523 with larger lugs sitting above the bezel and reference 2523/1 with a slightly larger diameter and thinner lugs that do not sit above the bezel. This example is known as the “Silk Road” 2523 and is the earliest ever made.
Lot 33, showing the superb Patek Philippe Cloisonné dial.
To help you activate your collector gene, we’ve gathered five additional particularly enticing lots from the upcoming auction.
Lot 23, Cartier, circa 1965.
Lot 23: This Cartier Grande Tank Cintrée, circa 1965 (above), was Cartier’s largest Tank model and has been produced in extremely limited quantities since 1921. This example is all original, dating to 1965 with all hallmarks and serial number engravings intact. The movement is a manual-wind Jaeger-LeCoultre calibre. Estimate: $21,300-$32,000.
Lot 31, Richard Mille circa 2018.
Lot 31: The Richard Mille RM022 Tourbillon Aerodyne from 2018 is a tonneau-shaped dual-time wristwatch with tourbillon, function selector, power reserve, torque indication, original warranty and presentation box.
It’s a complicated Richard Mille limited edition watch made for the American market and features a red quartz TPT case. Numbered eight of ten examples, the watch has not been auctioned previously. Estimate: $267,000-$533,000.
Lot 73, a Tissot World Time from 1950.
Lot 73: This Tissot World Time from 1950 is a very early 14-karat gold World Time wristwatch produced at the start of the Jet Age. Considering that very few watch brands were making any type of world timer or even dual timer in the 1950s, this is a surprising watch to surface from Tissot. At 36mm it will fit any wrist size. Estimated at $4,300-$6,400.
Lot 140., an F.P.Journe Chronomètre Souverain “The Number 001”.Lot 140, likely the very first F.P. Journe Chronomètre Souverain watch ever made.
Lot 140: This platinum-cased F.P.Journe Chronomètre Souverain features a serial number of 001, meaning it’s the very first example of the desirable model, produced in 2005. Estimate: $21,300-$32,000.
Lot 147, an Audemars Piguet Royal Oak Jumbo, B-Series, circa 1978.The back of Lot 147.
Lot 147: The Audemars Piguet Royal Oak Jumbo, B-Series, circa 1978, is an original Royal Oak Jumbo – produced six years after the launch of the model. The total production of B-series was just 1,000 examples. The dial is preserved in excellent condition with the AP logo at 6 o’clock, which can be found on any A and B Series as well as some C Series. This example is in superb, all-original condition with hardly any signs of wear. It also comes complete its original box and guarantee certificate. Estimate: $43,000-$86,100.
Click here to download the entire auction catalog, or check out the Phillips website to view the 236 auction lots online.
Bulova adds a new chronograph to its Joseph Bulova Collection, a set of automatic watches with designs inspired by Bulova watches made in the decades between 1920 and 1950.
This latest addition to the retro-themed collection is a three-subdial, 42mm steel-cased chronograph offered with either a black dial with rose-gold tone accents or a silver white dial with blue-tone accents.
The new 42mm Joseph Bulova Chronograph, powered by a Sellita automatic chonograph caliber.
While the new watch is larger than the original, and it now shows chronograph timing using three sub-dials instead of two, the new model retains several features that contributed to the character of the original watch.
The original features retained by Bulova include the telemeter scale around the perimeter of the dial, a domed crystal, railroad-track scales around the subdials and distinctive, squared chronograph pushers. In addition, Bulova has transferred the dial font and hand style from the original onto the new Joseph Bulova chronograph.
The new Joseph Bulova chronograph echoes the style of this vintage 1941 Bulova automatic chronograph, with a few key differences.
Of course, updates for both aesthetic and technical reasons are inevitable. For this piece, these include using anti-reflective sapphire to create the domed crystal, a day/date window and an exhibition caseback, exposing the rotor. Inside you’ll find a Swiss-made Sellita SW-500 chronograph caliber with a 48-hour power reserve.
Bulova is offering either style on a black leather strap engraved with Joseph Bulova’s signature on the inside. Finally, Bulova offers each watch in the Joseph Bulova collection as a limited edition of 350. Price: $2,495.
Bell & Ross just gave one of its most popular Vintage models a full-dial luminescent treatment. The brand’s new Vintage BR V2-94 Full LUM glows with a full base dial of pale green SuperLuminova, assuring full visibility in low light or total darkness.
But Bell & Ross didn’t stop with the green base-dial lume. In addition, the watchmaker has placed a second SuperLuminova color, a metallized pale yellow, on the dial’s skeletonized numerals, indices and primary hands. At the same time, and with clear definition, the 30-minute counter and chronograph seconds hand turn fluorescent blue.
The new Bell & Ross Vintage BR V2-94 Full LUM.
This three-hue lume effectively creates an unusually high level of clarity in low light environments for the retro-styled aviation automatic chronograph. The watch’s luminous trifecta very effectively enhances visibility, in large part due to the strong contrast between the luminescent colors and the black contours of the numerals, indices, hands, and counters.
The watch is the latest in an expanding collection of Bell & Ross LUM models, all of which feature fully luminous dials.
Domed glass
Befitting the retro tag, the Vintage BR V2-94 Full LUM’s 41mm steel case is topped with a domed glass-box sapphire crystal. And the bezel, composed of black anodized aluminum, offers a fixed 60-minute scale. Finally, the watch’s nicely proportioned chronograph pushers are screwed down.
Bell & Ross will make 250 examples of the Vintage BR V2-94 Full LUM, which will be supplied with a strap made from woven black rubber that provides the final vintage touch to the watch. Price: $5,100 (rubber strap model). A steel bracelet to fit the watch (see below) can be ordered separately for $520.
Specifications: Bell & Ross Vintage BR V2-94 Full LUM
Functions: hours, minutes, small seconds at 3 o’clock and date. Chronograph: 30-minute counter at 9 o’clock, central chronograph seconds.
Case: 41 mm in diameter. Satin-finished and polished steel. Fixed bezel with anodized black aluminum ring and 60-minute scale. Screw-down crown and pushers. Steel and sapphire case-back. Crystal is domed sapphire with anti-reflective coating. Water-resistance to 100 meters.
Dial: Bi-compax-style chronograph layout with luminescent green painted in SuperLuminova. Numerals and indices coated in SuperLuminova. Metal skeletonized yellow SuperLuminova-filled hour, minute and seconds hands.
Strap: Black rubber with pin buckle in satin-finished and polished steel. Also supplied with a steel bracelet.
Price: $5,100. A steel bracelet to fit the watch can be ordered separately for $520.
In the world of watches, becoming a senior executive and department head at a prestigious auction house is one of the most rewarding positions to get. It is often regarded as a dream job that many want but few can attain. As expected, it’s a position that requires plenty of work, expertise and human skills.
I have had the privilege to meet and interview someone who is in this position: Richard Lopez, SVP, Senior Specialist, and Head of Online Sales at Sotheby’s.
Richard’s approachable demeanor and friendly smile are a clear indication that he loves his job and appreciates all the vintage and contemporary watches that surround him day-to-day.
Richard Lopez is Senior Watch Specialist at Sotheby’s.
When I asked Richard how he found himself in the watch business, he told me that he thought he would be an architect. But as is often the case, life had a different path for him. When Richard was an architecture student more than twenty years ago, he was looking for a job for a little extra pocket money.
One day, he passed by the famed Betteridge watch and jewelry boutique in Greenwich, Connecticut, where he saw a trainer teaching the staff how to use special software for engraving. He quickly realized that the software was very similar to the CAD programs that he used for architecture. After showing the Betteridge team that he could engrave a piece in a couple of minutes, he became the in-house engraver—and eventually added polishing to his duties.
Once Richard began learning how to solder and started training as a jeweler, he decided to take a break from school. After a handful of years as a bench jeweler at Betteridge, he switched roles to become the company’s watch repairs coordinator. Not only did he discover a wide variety of timepieces, ranging from quartz to grand complications, during this period but he also had the opportunity to learn from Swiss-trained watchmakers as part of his job. Lopez ultimately fell in love with watches and watchmaking.
Auction houses
After climbing the ranks at Betteridge, Lopez joined Christie’s as a watch specialist and online retail manager. Not long after he joined, the online Christie’s Watch Shop made its debut, which marked a major step in the company’s e-commerce strategy. Lopez’s foray into the auction house market gave him even greater access to extraordinary vintage and modern timepieces, and permitted him to hone his skills in the realm of luxury e-commerce.
Today, Lopez is head of online sales and a senior watch specialist at Sotheby’s and he is based in New York. It is a role that he took on earlier in 2020, a pivotal time for online sales due to the global pandemic.
Like most other industries, auction houses are shifting focus from live events to online channels. Since Sotheby’s will only host in-person auctions twice a year (June and December) for the foreseeable future, Lopez is responsible for launching weekly and monthly online auctions to make up for the current restrictions.
Additionally, he also has to organize lots for the two in-person auctions by curating, qualifying, and authenticating timepieces. Along with his team in the New York office, which also covers the East Coast of the U.S., Canada, and Latin America, there is the Los Angeles team. Most of the timepieces are sourced from private clients and a few dealers.
Auction houses are shifting focus from live events to online channels.
Hands-on
Lopez’s experience as a jeweler and in watch repair prepared him for his current role. It takes a certain type of hands-on experience to understand the nuances of vintage timepieces, particularly if information about a specific watch is not readily available from the manufacturers.
For instance, with vintage Rolex Daytona “Paul Newman” watches, it’s important to remember that Rolex has never disclosed how many were made, how many versions there are, and the exact years they each version was produced. Unlike some other watchmakers, Rolex does not offer any type of archival or authentication services, so it is up to collectors, scholars, and professional experts like Lopez to investigate, study, and compile the information.
The record-breaking ‘Paul Newman’ Rolex.
Only with a great understanding of the watch at hand and the current market condition can an appropriate price estimate be given to the client looking to auction his or her timepiece.
Given the current times we are living in, Sotheby’s has decided to lean towards an online platform since the reach is vastly wider than the classic auction catalog. In addition to generating more traffic, an online platform provides plenty of data, such as how many clicks per page and which models have been viewed the most.
This type of information can then be analyzed to predict customer needs and potential trends. For a long time, auction houses never thought that they could convince a large number of buyers to buy expensive fine watches online. It was always understood that potential buyers had to see the watches “in the metal” before even considering placing a bid.
But that is no longer the case—seasoned collectors are happy to purchase online as long as the accompanying pictures and information are clear enough to tell the full story. Clients are also more comfortable if there is an easy return policy and if the watch is being sold by a renowned name like Sotheby’s. To further protect its clients, Sotheby’s always provides detailed condition reports and authenticity guarantees with each watch available for auction.
Strong team
Having a team that truly understands how to navigate the online luxury business is one of Sotheby’s greatest assets. Plus, the team’s ability to make quick adjustments during all the uncertainties that COVID brought about, such as working remotely while still in full control of consignments and sales, allowed Sotheby’s to execute more than twenty online events in the summer compared to some competitors that could only complete a fraction of those numbers.
Sotheby’s weekly online watch auctions list around fifteen to twenty lots for bidding while monthly online sales can reach 200 timepieces in the mid to high-end watch segment.
The two annual in-person events are where Sotheby’s showcases incredible grail watches that command attention from collectors across the globe. These auctions will maintain the customary format of a preview of the watches available at Sotheby’s, followed by an auctioneer-hosted auction in the main room.
Demand rises
The supply of and demand for top-tier timepieces remains strong and it is projected to grow. Rolex and Patek Philippe lead the charge with a slew of coveted sports watch models that have hefty prices to match their insatiable demand. Consumers who are unable to buy popular luxury sports watches in the retail market are turning to the secondary market and discovering a bevy of other watch models from the likes of Audemars Piguet, F.P. Journe, Panerai, and others.
Although it must be said that while brands like Rolex and F.P. Journe have contemporary watches that are highly valued in the secondary market, it is the vintage segment that is the star of that market. More and more, consumers are treating watches as investments, which can sometimes outshine gold, diamonds, and jewelry as investment pieces. The current-production steel and ceramic Rolex Daytona that retails for about $13,000 is frequently being traded around $25,000 in the secondary market—a return on investment that is hard to beat.
While brands like Rolex and F.P. Journe have contemporary watches that are highly valued in the secondary market, it is the vintage segment that is the star of that market.
As a professional in the watch industry and an avid watch collector, Lopez has learned that although a fine watch is most certainly a luxury and not a necessity, if you really want a timepiece and it fits your budget, go ahead and buy it. Not only will you enjoy the watch immensely, if you also take good care of it, it may sell for a premium in the future. His biggest advice is to keep your box and papers because a complete set will always be more valuable.
Keep your vintage watch’s box and papers.
Talent, enthusiasm, experience, and hard work can open up an array of possibilities and, as with Richard Lopez, it may even lead to a dream job where the profession is dependent on a personal passion.
Laurent Martinez is the proprietor of Laurent Fine Watches, Greenwich, Connecticut. Read more by him at blog.laurentfinewatches.comor visit his store’s website.
iW spoke with Zenith CEO Julien Tornare during LVMH Watch Week 2021 in January. He detailed how Zenith developed the hot new Chronomaster Sport and why the watch is an especially important launch as Zenith continues expanding its appeal globally in 2021 and beyond.
The new Zenith Chronomaster Sport.
IW: How important is the Chronomaster collection to the Zenith identity?
Julien Tornare: It is clear that Chronomaster is a key product collection for us. You may remember that in 2017 we launched the new Defy, and not everybody was pleased that we were emphasizing that Defy collection. At the time I had issues with the Chronomaster collection because it was going in too many directions at once. This made some people confused. It had a variety of size, shape, colors, and it was too much of a patchwork.
But Defy was selling well; we have been fortunate. Defy was giving the brand fresh air, exactly what we – with Mr. Biver – wanted at that time. And it gave me time to sit back with my friend Romain Marietta (products development, heritage director at Zenith) and think about the key design elements for Zenith, specifically for Chronomaster. We started to show some new designs in 2019 with the 50th anniversary celebration of the El Primero.
Of course we were scheduled to launch the new Chronomaster Sport this past June. Plus, we were to launch a new classic version later during 2020. So now we are on a slightly delayed schedule.
Are you pleased with the reaction to the new Chronomaster Sport?
We knew that we would bring back an iconic watch with the Chronomaster, which many people were waiting for.We expected a good reaction, but put the reaction since it was launched has been incredible. We did not expect the enthusiasm to such a great extent.I am very happy and proud and I congratulate our entire team.
The morning after we launched the new Chronomaster Sport I had messages from all over the world. I had so many retailers I have known call and say they needed this new Chronomaster.
Does the Chronomaster Sport complete the collection?
Now it is very clear what Chronomaster is.We have the Revival, we have the Chronomaster Sport, and coming up next we’ll have the Classic side. This repositions Chronomaster very clearly for us. Chronomaster for me is the past and present.And Defy is the present and the future. So they are connected and complementary.
How did you approach development of the Chronomaster Sport?
We looked at three pieces in 2018 to help us design the new Chrono master sport.
The Zenith A277 was made in 1965, four years before El Primero. But you can already see this sporty influence on the new watch, especially with the sporty bezel and a bracelet. Then, a few years after that, we launched the Luka. This was also a big deal for us. Here you see it again the black bezel, the sporty chronograph look, and the same basic bracelet.
And finally, we looked at the Rainbow, which was also very important for us in the 1980s in the 1990s. That case, and again with the sporty bezel, were influential.
Three historic Zenith watches informed the new design.
All three of these watches help us create the new Chronomaster Sport.
Of course we added the Zenith three-color chronograph counters.We worked on those colors to have them elegant and more beautiful – not too flashy.The blue and the grays are quite light and very slightly shiny.The watch is 41mm in diameter and 13.6mm thick, so still elegant and not too thick. Easy to wear.
The new El Primero 3600 caliber offers a 1/10th of second display from the 5 Hz (36’000 VpH) escapement, as well as an extended power reserve of 60 hours.
And you used a new movement inside?
Of course, we worked on the movement, which is the El Primero 3600.The upgrades from the earlier El Primero include the column wheel in blue, which makes it clearly visible.We added ten hours to the power reserve to reach a total of sixty hours of power reserve.
And for me a real chronograph should be one-tenth of a second, like the El Primero. When you get 36,000 vph, which is 5 Hz, you can measure one-tenth of a second exactly.With 3 Hz and 4 Hz you measure the one-sixth or the one-eighth of a second, which is not really how we measure any event. And here we really wanted to show off our ability to measure one-tenth of a second.
Zenith can now showcase three different watches with chronograph hands rotating around their dials at three different rotation speeds.
What were the biggest challenges to making the new Chronomaster Sport?
We wanted to keep the identity of our caliber very clear.I also told Romain that I want it to be most comfortable watch available in the industry.
I still believe that is very important to put any watch on your wrist to see how it feels. I am too often disappointed by the way certain watches feel on your wrist. This new watch is smooth as silk.It is super easy to wear.
I wanted a very simple way to measure the one-tenth of a second. And with one of the very first samples, like took it home and gave it to my ten-year-old son.And he looked at it and he could explain how it worked. I wanted this watch to be that easy to read.On many watches it is easy to get lost, especially if you’re not familiar with watches.
Of course, here we have a counter for the seconds, a counter for the minutes, and the one at 9 o’clock for the small seconds.
Can you tell us more about other 2021 Zenith debuts?
The Zenith Chronomaster Revival A385.
Our new brown-dialed A 385 Revival watch is also quite interesting. We have done some research, and it seems that this original watch in 1969 is the first gradient type dial. When we launched the A384 Revival in August 2019 it became immediately a bestseller, in part because of its original 37mm size.
You might remember that ten or twelve years earlier we had lunched this in a larger size (42mm) which I thought lost the proportions of that original. At 37mm you get perfect proportions.
The new Zenith Pilot Type 20 Silver Chronograph.
Will we see additional sports watches from Zenith?
Yes of course. Overall, we have a Revival, the soon-to-be released Classic, and then the Sport. This is a very clear organization within the Chronomaster collection. There’ll be additional sport variations.
How did you choose the newest Zenith ambassador Aaron Rodgers?
In 2019 I went to the United States several times to meet various possible ambassadors. I was in search of someone who could represent the philosophy of ‘time to reach your stars’ for the Zenith. And I didn’t want a celebrity who would just show up on the red carpet with the watch.I wanted someone who could talk about his or her story and who could explain what kind of a star he or she has been following over the years to reach an objective. We have done this in China and Japan, and in Europe.
It’s more about the personality. I met actors and singers and other sports celebrities, but when I met Aaron Rodgers I thought he was just a great guy. He’s a good spirit. Nothing to prove anymore.
NFL great Aaron Rodgers is the new Zenith brand ambassador for the U.S.
Can you preview any additional watches for 2021 from Zenith?
We will have the third category of the Chronomaster collection.This will be about elegance, thinness and an A386 spirit, because Chronomaster would not be complete without that particular offering as well. Also look for a new Defy. That will be an amazing watch also. For the United States that will be a big one.
And of course we do not forget high complications within the Defy collection. This year we will present some of our iconic high complications – and in a crazy material. This will be in a very small edition and it will include an experience that I can almost guarantee none of the future owners have done in their lives.It will allow him to really feel what a high complication is in real life.
The new Zenith Defy Urban Jungle.
Will we see new watches for women?
I don’t like to talk about women’s watches particularly at Zenith because we focus on making beautiful, authentic watches with our own movements with our own philosophy, and then make them beautiful.
We don’t really separate them as men’s watches or women’s watches.I think we make beautiful watches that can be worn by men and by women. Diamonds are used sometimes yes, and in some parts of the world diamonds are very popular among men, and in some others less. If you look at the Chronomaster Sport, it is a typical 41mm watch that can be worn buy a man or woman.
At Zenith we like to live in a balanced way between the past, present and the future.Between tradition and innovation. And it is clear that we are gaining market share in terms of vintage.You just need to follow the recent auctions.We have launched the Zenith Icons program to great success. Chronomaster Sport is bringing a contemporary dynamic into the collection. This will live perfectly alongside the vintage, or Revival, collection, as well as the more classic directions that you will soon discover.
It’s a complicated Richard Mille limited edition watch made for the American market and features a red quartz TPT case. Numbered eight of ten examples, the watch has not been auctioned previously. Estimate: $267,000-$533,000.
