Page 29 - Journal of Antiques and Collectibles Januray 2020
P. 29
I t took twelve minutes for Paul Newman’s buyer at this level. The upside to that is that
collections can still be affordably built with some
personal Rolex Daytona to rewrite horological
research into some of the lesser-known brands,
history in October of 2017, hammering down
at a record-shattering $15.5 million ($17.75
million after buyer premium). In the spring of coveted for their style, technology, and maker.
2018, a Rolex Daytona Ref. 6265, known as
“The Unicorn,” which formerly belonged to the Wearing the Vintage Aesthetic
well-known watch collector John Goldberger, One of the most interesting evolutions in
sold for $5.9 million at the Phillips Daytona vintage watch collecting has been the desire to
Ultimatum sale in Geneva, the second-highest move away from watches that have been restored
price ever paid for a Rolex, second only to the and polished to look “like new” in favor of watches
Paul Newman Rolex Daytona. in original condition with honest patina. Nicks,
A coveted Rolex Oyster Cosmograph, known scratches, and fading that may have developed
as an Oyster Mk 1 Panda, went for more than over decades of wear can enhance a watch’s
$750,000 at a Phillips auction in Geneva in desirability. The materials used in old watch dials
spring 2019, a figure that shocked one of react differently to varying levels of sunlight and
its past owners who bought the stainless steel Paul Newman's own “Paul Newman” Rolex moisture over time. Cases and bracelets will take
chronograph wristwatch in the $200,000 range Daytona sounded the World Record alarm when it on differing degrees of wear from the passage of
and sold it in the threes thinking he was the sold to an anonymous telephone bidder for years depending on who has owned them and
“smartest man in the room. How could a steel $17,752,200 in 2017 how often and where they were worn. Yet collectors
Daytona break $400,000?” say that’s exactly what they find
This past November, a Patek appealing, even though new watches
Philippe yellow gold tonneau- by the same manufacturers are
shaped minute repeating wrist- more technologically superior.
watch from 1927, made for As one new, younger vintage
famed watch collector Henry watch collector explained, “If I
Graves, Jr., sold for over $4.5 wanted something that looked new,
million! I would just go into a boutique and
These are just a few of the buy it. But I wanted something
record-shattering numbers over different; a watch that has been
the past few years for what is made unique by the aging process.”
essentially a secondary watch One issue surrounding this
market. To date, none have desire to collect vintage watches
broken the record for the most with honest patina is that it is
expensive watch/pocket watch extremely difficult. Well-known
ever sold at auction, a Patek watches such as the Rolex
Philippe Henry Graves Submariner and the Omega
Supercomplication, fetching A vintage Patek Philippe men’s Vintage 18kt GP Longines Flagship Speedmaster are rarely found in
$23.98 million in 2014. wristwatch Calatrava Gold Skeleton automatic watch in mint condition original condition because of their
Vintage watches, defined as ca. 1900-1920 selling for and has been serviced, selling for $649 famous affiliations over the years.
being around 50 years old, are $10,500 at wandolec.com at fashionacedesigns.com Those who owned one were
both a hot new investment trend and the latest fashion statement, likely to wear it and have it serviced
especially among younger buyers, hipsters, and wealthy collectors. over the years, when parts were frequently replaced (such as bezel
inserts and crowns), and perhaps the luminous material on the dial or
Dominating the vintage watch market at auction is Christie’s,
Sotheby’s, and Phillips, in association with Bacs & Russo. Specialty hands was refreshed for better night visibility – all with the goal of
vintage watch auctions collectively realized an estimated $300 million making the watch a more effective tool, and with no mind towards
in 2018, according to the Robb Report. Leading in value are watches future value to collectors. Moreover, the cases were polished to remove
made by Rolex, Patek Philippe (having seven of the “Top 10” vintage scratches and make them look like new. The result is highly collectible
watches ever sold at auction as of December 2018), and Omega. watches that were continually pristinely restored are today worth a
While these high-end vintage and antique specialty watch auctions fraction of their untouched counterparts.
are enjoying immense popularity and setting world records, not every- Vintage style and condition is one element of value; style and maker,
another. Provenance and association also add to the allure and value of
one who appreciates vintage watches can afford to be a collector or
January 2020 27
collections can still be affordably built with some
personal Rolex Daytona to rewrite horological
research into some of the lesser-known brands,
history in October of 2017, hammering down
at a record-shattering $15.5 million ($17.75
million after buyer premium). In the spring of coveted for their style, technology, and maker.
2018, a Rolex Daytona Ref. 6265, known as
“The Unicorn,” which formerly belonged to the Wearing the Vintage Aesthetic
well-known watch collector John Goldberger, One of the most interesting evolutions in
sold for $5.9 million at the Phillips Daytona vintage watch collecting has been the desire to
Ultimatum sale in Geneva, the second-highest move away from watches that have been restored
price ever paid for a Rolex, second only to the and polished to look “like new” in favor of watches
Paul Newman Rolex Daytona. in original condition with honest patina. Nicks,
A coveted Rolex Oyster Cosmograph, known scratches, and fading that may have developed
as an Oyster Mk 1 Panda, went for more than over decades of wear can enhance a watch’s
$750,000 at a Phillips auction in Geneva in desirability. The materials used in old watch dials
spring 2019, a figure that shocked one of react differently to varying levels of sunlight and
its past owners who bought the stainless steel Paul Newman's own “Paul Newman” Rolex moisture over time. Cases and bracelets will take
chronograph wristwatch in the $200,000 range Daytona sounded the World Record alarm when it on differing degrees of wear from the passage of
and sold it in the threes thinking he was the sold to an anonymous telephone bidder for years depending on who has owned them and
“smartest man in the room. How could a steel $17,752,200 in 2017 how often and where they were worn. Yet collectors
Daytona break $400,000?” say that’s exactly what they find
This past November, a Patek appealing, even though new watches
Philippe yellow gold tonneau- by the same manufacturers are
shaped minute repeating wrist- more technologically superior.
watch from 1927, made for As one new, younger vintage
famed watch collector Henry watch collector explained, “If I
Graves, Jr., sold for over $4.5 wanted something that looked new,
million! I would just go into a boutique and
These are just a few of the buy it. But I wanted something
record-shattering numbers over different; a watch that has been
the past few years for what is made unique by the aging process.”
essentially a secondary watch One issue surrounding this
market. To date, none have desire to collect vintage watches
broken the record for the most with honest patina is that it is
expensive watch/pocket watch extremely difficult. Well-known
ever sold at auction, a Patek watches such as the Rolex
Philippe Henry Graves Submariner and the Omega
Supercomplication, fetching A vintage Patek Philippe men’s Vintage 18kt GP Longines Flagship Speedmaster are rarely found in
$23.98 million in 2014. wristwatch Calatrava Gold Skeleton automatic watch in mint condition original condition because of their
Vintage watches, defined as ca. 1900-1920 selling for and has been serviced, selling for $649 famous affiliations over the years.
being around 50 years old, are $10,500 at wandolec.com at fashionacedesigns.com Those who owned one were
both a hot new investment trend and the latest fashion statement, likely to wear it and have it serviced
especially among younger buyers, hipsters, and wealthy collectors. over the years, when parts were frequently replaced (such as bezel
inserts and crowns), and perhaps the luminous material on the dial or
Dominating the vintage watch market at auction is Christie’s,
Sotheby’s, and Phillips, in association with Bacs & Russo. Specialty hands was refreshed for better night visibility – all with the goal of
vintage watch auctions collectively realized an estimated $300 million making the watch a more effective tool, and with no mind towards
in 2018, according to the Robb Report. Leading in value are watches future value to collectors. Moreover, the cases were polished to remove
made by Rolex, Patek Philippe (having seven of the “Top 10” vintage scratches and make them look like new. The result is highly collectible
watches ever sold at auction as of December 2018), and Omega. watches that were continually pristinely restored are today worth a
While these high-end vintage and antique specialty watch auctions fraction of their untouched counterparts.
are enjoying immense popularity and setting world records, not every- Vintage style and condition is one element of value; style and maker,
another. Provenance and association also add to the allure and value of
one who appreciates vintage watches can afford to be a collector or
January 2020 27
