Wednesday, November 21, 2007

Another Bullseye by Patek! THE Nautilus 5980/1a

After I had a chance previously to closely examine and enjoy the lovely 5960p it was about time for some playtime with its Nautilus brethren - 5980/1A .

IMO aesthetically I do prefer the annual calendar case shape and that lovely charcoal dial tone yet I find a better harmonization of balanced design with the single subdial Chrono in the Nautilus case.

Another difference I also noticed is how they inverted the color combo on the outer ring of the subdial and the center of the dial is now color matching the rest of the dial all IMHO contributing to the better aesthetics.

The movement is the same column wheel principle chrono in the same level of finishing as its larger sibling.

Same goes for a well fitted and sturdy constructed bracelet that fits almost like a luxurious piece of jewelry.

The Chrono rectangular yet oval shaped pushers are well placed under a 45% angle in both upper/lower right hand corner separated by a protruding crown. The execution is fine and the pushers have a firm yet solid feel once pressed.

The overall height and weight of the piece is slightly larger then a comparable 5712 Nautilus cousin very much akin to difference between Rolex Sub and Sea dweller.

I rather like the way the hands are all in the same style especially the way H/M hands are matching the hour indices.

The one thing I don’t care about is the date and its 3 o’clock positioning yet I certainly understand the need for it in this sporty piece.

Once one gets over the “atypical” Chrono time display it really does make more sense then an ordinary but cluttered 3 or classic 2 subdial chronometry representation. In fact after a week on ones wrist one might conclude it is actually an optimal way to represent & measure the passage of time.

Overall I found 5980 to be a very pleasurable watch for daily wear which certainly is evident by the enormous global demand making it a bonified hard to obtain piece.

Personally I have never been a fan of Nautilus or other related Genta’s designed creations yet find this model to be unexplainably rocking to its own tune.


Monday, October 8, 2007

Antiquorum Auctions Contraversy Part 2

Published on the Article by:

William George Shuster, Senior Editor - JCK-Jewelers Circular Keystone, 10/2/2007

Osvaldo Patrizzi, founder of Antiquorum, the international fine watch auction house, has filed legal actions against those who took over the company and ousted him and other top officials in early August. Meanwhile, an Antiquorum spokesperson said the company could have a permanent replacement for Patrizzi "within the next few weeks."

"Civil and criminal actions" were filed in the courts of Geneva, Switzerland, site of Antiquorum's headquarters, in August, said Didier Plantin, Patrizzi's lawyer and former legal consultant to Antiquorum, in a JCK interview. Patrizzi's U.S. lawyers were also "instructed to act to ... protect his [Patrizzi's] interests and the company's," he said. There were no court rulings, yet, at press time.

Antiquorum's current management had no comment about the legal actions or Patrizzi's allegations, said spokesperson Karin Tasso.

The legal suits, said Plantin, sought to "prove that any and all allegations or accusations against him [i.e., Patrizzi] and/or the former management of the company are wrong, illegal, irresponsible, and mainly destructive to Antiquorum." One legal question could be whether Antiquorum's new operators have sufficient shares to control the company.

The legal suits followed unexpected top management changes at Antiquorum. On Aug. 2, Patrizzi-who had been chairman and chief executive officer-was ousted by a new board of shareholders. Also leaving were Marc Schumacher, chief operating officer, Michel Cohendet, managing director, Alex Cohendet, financial and administrative director, Plantin, Kathryn Bonanno Patrizzi, his wife and a jewelry consultant, and Patrizzi's daughters; Roberta, then in charge of Antiquorum's Geneva showroom, and Patricia, then overseeing inventory.

Temporarily succeeding Patrizzi in Antiquorum's top posts was John Tsukahara, director of ArtistHouse Holdings, the Japanese conglomerate which bought 50 percent of Antiquorum in 2006. In mid-September, Antiquorum's new board was talking with "a high potential candidate [known] within the international watch collector's community" as a permanent replacement, Tasso told JCK. "We hope to welcome him within a few weeks."

She also said Antiquorum's operational organization and responsibilities were being restructured. The new board "will invest heavily in optimizing our organization, our structures, and our processes, so we can grow," she said. "We'll continue to strengthen our brand and position Antiquorum for further growth. There is a lot of untapped potential waiting to be unleashed."

An Aug. 22 company statement said "irreconcilable opinions" on Antiquorum's strategy and direction caused Patrizzi's departure. Its new board also ordered a forensic audit of Antiquorum's "financial management and governance." That's still unfinished in early October.

Patrizzi in a JCK interview contended his dismissal was because the new board "wanted to take over the control" of Antiquorum, to which he would "in no way" agree. The attempt began, he said, at an informal shareholders meeting in June in New York City, where the new board was allegedly created after he left, and ended Aug. 2 in Geneva, when he and others were dismissed.

Concerning the audit, Patrizzi contended it's based on "a trumped-up accusation" about financial management to "justify the take-over." He said, "We had to give quarterly financial information and had an audit every year, and there weren't any complaints." In the company's 34 years, "never has even one penny ever been missing."

Patrizzi wouldn't discuss Antiquorum events and projects, but is "very disappointed" about, the world's largest English language Web site, which Antiquorum, under Patrizzi, bought early this year. His intent, he said then, was to make it "the most complete horology site on the Web" for watch enthusiasts, with access to Antiquorum's database of 30,000 horological items and pictures. Now, he feels it's becoming "just a marketing tool for Antiquorum."

Of his own future, Patrizzi, 62, said he's "still full of ideas and projects. I'm a person who needs to dream, and must try to realize my dreams."

Patrizzi started Antiquorum in 1974 and built it into the world's leading auction house for fine watches and a leading source for watch collectors, setting many world records. It was the first (in the early 1980s) to take watch auctions online (including bidding), and it's known for beautiful watch catalogs and record-setting thematic auctions. Antiquorum has offices in 10 cities serving 13 countries, including New York, London, Moscow, Paris, Munich, Shanghai, and Tokyo.

Antiquorum Auctions Contraversy Part 1

INVISIBLE HAND - How Top Watchmakers Intervene in Auctions

Luxury Timepieces Get Pumped Up in Bidding:"It's a Bit Dangerous" By STACY MEICHTRY
October 8, 2007; Page A1

GENEVA -- In the rarefied world of watch collecting, where Wall Street investment bankers and Asian millionaires buy and sell at auctions, a timepiece can command a higher price than a luxury car. At an April event here, a 1950s Omega platinum watch sold for $351,000, a price that conferred a new peak of prestige on a brand known for mass-produced timepieces.

Watch magazines and retailers hailed the sale, at an auction in the lush Mandarin Oriental Hotel on the River Rhone. Omega trumpeted it, announcing that a "Swiss bidder" had offered "the highest price ever paid for an Omega watch at auction."

What Omega did not say: The buyer was Omega itself.

Auctioneer Osvaldo Patrizzi, president and co-founder of Antiquorum, left, and Stephen Urquhart, president of Omega, at the Omegamania auction in Geneva on April 15.
Demand and prices for expensive watches have been surging, fed by global economic growth. But there's another factor behind the prices: an alliance between watchmakers and a Geneva auction house called Antiquorum Auctioneers.

Antiquorum sometimes stages auctions for a single brand, joining with the watchmakers to organize them, in events at which the makers often bid anonymously. This is a technique of which Patek Philippe and other famous brands, as well, have availed themselves.

"It's an entirely different approach to promoting a brand," says the cofounder of Antiquorum, Osvaldo Patrizzi, "Auctions are much stronger than advertising." Mr. Patrizzi worked with Omega executives for two years on the auction, publishing a 600-page glossy catalog and throwing a fancy party in Los Angeles to promote the event. "We are collaborators," he says.

But now there's ferment in the world of watch auctions. First, they're starting to raise ethical questions, even within the industry. "A lot of the public doesn't know that the biggest records have been made by the companies themselves," says Georges-Henri Meylan, chief executive of Audemars Piguet SA, a high-end Swiss watchmaker. "It's a bit dangerous."

More unsettling, Antiquorum's Mr. Patrizzi, who essentially founded the business of watch auctions, is under fire by the house he cofounded. Its board ousted Mr. Patrizzi as chairman and chief executive two months ago -- and hired auditors to scour the books.

The business of auctions for collectibles is not a model of transparency. The identities of most bidders are known only to the auction houses. Sellers commonly have a "reserve," or minimum, price, and when the bidding is below that, the auctioneer often will bid anonymously on the seller's behalf. However, the most established houses, such as Christie's International PLC, announce when the seller of an item keeps bidding on it after the reserve price has been reached.

Omega's president, Stephen Urquhart, says the company is not hiding the fact that Omega anonymously bid and bought at an auction. He says Omega bought the watches so it could put them in its museum in Bienne, Switzerland. "We didn't bid for the watches just to bid. We bid because we really wanted them," he says. Omega's parent, Swatch Group Ltd., declined to comment.

Through the auctions, Swiss watchmakers have found a solution to a challenge shared by makers of luxury products from jewelry to fashion: getting their wares perceived as things of extraordinary value, worth an out-of-the-ordinary price. When an Omega watch can be sold decades later for more than its original price, shoppers for new ones will be readier to pay up. "If you can get a really good auction price, it gives the illusion that this might be a good buy," says Al Armstrong, a watch and jewelry retailer in Hartford, Conn.

Niche watchmakers have used the auction market for years to raise their profiles and prices, mainly among collectors. As mainstream brands like Omega embrace auctions, increasing numbers of consumers are affected by the higher prices.

Omega and Antiquorum got together at the end of 2004. The watchmaker was struggling to restore its cachet. Omega once equaled Rolex as a brand with appeal to both collectors and consumers, but in the 1980s, Omega sought to compete with cheap Asian-made electronic quartz watches by making quartz timepieces itself. Omega closed most of its production of the fine mechanical watches for which Switzerland was famed, tarnishing its image.

A decade later, Omega tried to revive its luster by reintroducing high-end mechanical models. It raised prices and signed on model Cindy Crawford and Formula 1 driver Michael Schumacher for ads. When this gambit failed to lure the biggest spenders, Omega turned to a man who could help.

Mr. Patrizzi, 62 years old, had gone to work at a watch-repair shop in Milan at 13 after the death of his father, dropping out of school. He later moved to the watchmaking center of Geneva, at first peddling vintage timepieces from stands near watch museums.

He founded Antiquorum, originally called Galerie d'Horlogerie Ancienne, in the early 1970s with a partner. At the time, auctions of used watches were rare, in part because it was hard to authenticate them. But Mr. Patrizzi knew how to examine the watches' intricate movements and identify whether they were genuine.

At first, prominent watchmakers were wary. Mr. Patrizzi approached Philippe Stern, whose family owns one of the most illustrious brands, Patek Philippe, and proposed a "thematic auction" featuring only Pateks. The pitch: Patek would participate as a seller, helping drum up interest, and also as a buyer. A strong result would allow Patek to market its wares not just as fine watches but as auction-grade works of art.

The first Patek auction in 1989 featured 301 old and new watches, with Mr. Patrizzi's assessments, and fetched $15 million. Mr. Stern became a top Patrizzi client, buying hundreds of Patek watches at Antiquorum auctions, sometimes at record prices. The brand's retail prices soared. Over the next decade, the company began charging about $10,000 for relatively simple models and more than $500,000 for limited-edition pieces with elaborate functions known in the watch world as "complications."

Patek began promoting its watches as long-term investments. "You never actually own a Patek Philippe," ads read. "You merely look after it for the next generation." Mr. Stern says he bid on used Patek watches as part of a plan to open a company museum in 2001. Building that collection, he says, was key to preserving and promoting the watchmaker's heritage, the brand's most valuable asset with consumers. "Certainly, through our action, we have been raising prices," he says.

Auctions gradually became recognized as marketing tools. Brands ranging from mass-producers like Rolex and Omega to limited-production names like Audemars Piguet and Gerald Genta flocked to the auction market with Antiquorum and other houses. Cartier and Vacheron Constantin, both owned by the Cie. Financière Richemont SA luxury-goods group in Geneva, have starred in separate single-brand auctions organized by Mr. Patrizzi.

"Patek opened a lot of doors for us, but we also opened a lot of doors for Patek," he says.

Brands began to vie for his attention, sending Mr. Patrizzi watch prototypes to assess and, they hoped, occasionally wear. They hired his assistants at Antiquorum as their auction buyers, cementing ties. "He was a kind of spiritual father for me," says Arnaud Tellier, who worked under Mr. Patrizzi before becoming Patek's main auction buyer and director of the Patek museum.

Friends describe Mr. Patrizzi as a rare intellectual in a market with many coarser types. Guido Mondani, a book publisher and watch collector who met Mr. Patrizzi two decades ago, says he was charmed by the auctioneer's encyclopedic knowledge of watch history. Mr. Patrizzi began advising the publisher on which watches to add to his own growing collection, and wrote volumes on collectible watches that Mr. Mondani published.

Mr. Patrizzi discovered a rare defect in a Rolex Daytona owned by Mr. Mondani: Its dial was sensitive to ultraviolet rays and could change color. The result was a sensation in the collector's world, with the price of what became known as the Patrizzi Daytona reaching nearly 10 times its retail price. Last year, Antiquorum auctioned Mr. Mondani's Rolex collection for about $9.4 million at current exchange rates.

Mr. Patrizzi himself amassed a collection of antique cuckoo clocks and grandfather clocks, which grace his home in Monaco. He recently built an Alpine chalet near the chic French village of Megève and filled it with clocks dating as far back as the 15th century.

When he spoke to Omega executives at the end of 2004, Mr. Patrizzi felt that an Omega-only auction might be what the brand needed to revive its image. There was one problem. Antiquorum couldn't vouch for the authenticity of watches that are mass-produced; since they are worn more, their watch movements have often been opened and tampered with in the course of repair. So in an unusual arrangement, Omega agreed to guarantee the authenticity of all watches sold at the auction, and refurbish those needing it beforehand. Omega supplied vintage timepieces from its own collection for the sale.

To build interest, Mr. Patrizzi and Omega officials traveled to 11 cities, hosting events such as a flashy party at the Beverly Wilshire Hotel with celebrities such as actors Charlie Sheen and Marcia Gay Harden. Antiquorum and Omega joined in publishing the huge, glossy auction catalog. When the sale, dubbed "Omegamania," took place in April, it was shown on jumbo screens at the BaselWorld watch fair and streamed live on the Internet for online bidding.

It brought in $5.5 million. Besides the $351,000 platinum watch, Omega outbid collectors on 46 other lots, including many of the most expensive. Mr. Patrizzi estimates Omega bid on 80 lots in all, out of 300.

A Singaporean collector, told of Omega's role, called it "heinous." Melvyn Teillol-Foo, who bid over the Internet and bought a few pricey watches, added: "If it turns out they bid against me and got me to $8,000, I would be ticked off."

The auction is boosting retail demand just as Omega is introducing pricier models, says a Seattle retailer, Steven Goldfarb. He says his top-selling Omegas used to be $1,400 models, but Omegas costing three times that are selling now. "Customers are conscious of the fact that an Omega watch sold for $300,000," he says. "They have no idea who bought it."

But just as Mr. Patrizzi basks in one of his big successes, his position in the industry is at risk. On Aug. 2, as he vacationed during a traditional holiday time for the industry, Antiquorum's board met and voted him out as chairman and chief executive of the auction house he cofounded. Mr. Patrizzi, who owns a minority stake in the firm, says he learned of his ouster from lieutenants who were locked out of the company's Geneva headquarters the day of the meeting, and later fired.

Named interim chief was Yo Tsukahara, an executive at ArtistHouse Holding, a Tokyo company that owns 50% of Antiquorum. ArtistHouse then formed a different Antiquorum board. Mr. Tsukahara hired auditors from PricewaterhouseCoopers to scour Antiquorum computers, financial records and inventory. Pricewaterhouse wouldn't comment.

Mr. Patrizzi's "thematic auctions" for a single brand of watches weren't an issue, Mr. Tsukahara says in an interview. They were a "win-win situation," he says.

Mr. Patrizzi's relations with ArtistHouse had been worsening for a year. One issue was his resistance to adopting more rigorous accounting in compliance with the Tokyo Stock Exchange. Mr. Patrizzi opposed an ArtistHouse push to replace Antiquorum's accountants, according to Leo Verhoeven, a Patrizzi ally and an executive at Habsburg Feldman, a Geneva company that owns 43% of the auction house.

Mr. Verhoeven adds that when Mr. Patrizzi stuck to the watch industry's summer holiday schedule of mid-July to mid-August, he caused a timing issue for ArtistHouse, which landed on a Tokyo Stock Exchange list for companies that don't report earnings promptly enough. Mr. Tsukahara blames the delay on Antiquorum, saying that auditors were unable to account for several high-priced watches during an inventory check, forcing ArtistHouse to write off their value.

Mr. Patrizzi denies watches were missing. Giving Mr. Patrizzi's version, Mr. Verhoeven says two watches were consigned to retailers and two were sold in private sales that hadn't yet been booked because of an accounting backlog. Messrs. Patrizzi and Verhoeven say they have sought preliminary injunctions in a Geneva civil court challenging the legitimacy of Mr. Tsukahara's newly created board.

Mr. Patrizzi says that days before his ouster, he sensed trouble was brewing. The line of antique cuckoo clocks on the wall of his Alpine chalet went "a bit out of whack," he says. "One was 10 minutes too fast. Another was 10 minutes too slow. I said, 'Oh God, something is about to happen.'"

Sunday, September 23, 2007

My thoughts on Antiquorum Only Watch Auction Results

After having a chance to review and contemplate all the results from this week charity action some results stuck in my head resulting in some thought-provoking opinions. Certainly whenever there are charity auctions one can hardly be in position to “accurately predict” or “judge” achieved valuations as in the end they’re (in most cases) a very generous (and tax free) contributions with an outcome of an exclusive plaything to boot. With that said taking out of the account the splendid amount of money raised for the worth cause some inordinate results stick out for one reason or another.

Granted the star of the show Patek’s one off Nautilus 5712 was expected to reach the sky not only owing to the uniqueness of it being a sole titanium model ever made, but as well due to the current inordinate Nautilus/Patek model demand (with the aspect to current certain geographical supply shortages). Considering the Pateks ever present ultimate luxury timepiece cache, adding the exclusivity of such piece unique and Voilà we have a creation of worldwide appeal to many present bidders all resulting in an instant collector blockbuster. The price achieved (almost 600K Euro with fees) was indeed impressive, yet a bit shocking how steep especially when compared to some other rather underwhelming prices that were achieved for some quite outstanding pieces. Perfect example of such is GP’s Perpetual Calendar Financial which was a steal and certainly a great bargain for the lucky bidder. I know that GP doesn’t have the same marketing clout of some of the big names in horology, but to score an outstanding one off complication timepiece for probably less then you could get similar regular series model from a retailer does seem shocking to me. Same can be said for the Frédérique Constant’s ”Heart Beat Zerodur”. I mean where else can one get for around 10K Euro a pink gold piece unique with moon-phase indicator containing innovative Zerodur balance and Silicium escape wheel. Even the next highest priced DeWitt and Jean-Michel Wilmotte “Incognito” creation and Richard Mille/Philippe Starck model make sense owing to their relative unique pairings that most likely will never be repeated or be close to compare to anything similar from the creators regular line up. As great as that might be then I notice the really fantastic Vacheron Constantine Malte Tourbillon featuring a carriage bridge in platinum (a first for VC) for almost 3rd of that price – a relative bargain of 130K. OK so I can understand the appeal of some special collaboration, but to have such disparity present here I am left here really puzzled. Especially when I see the 50K higher price for that IMO horrid Frank Muller Crazy Something creation – I mean aren’t we over this hoopla at this point. Then just when I was feeling a bit better I noticed a figging “pink quartzy” Swatch and the always horrible abomination from Zenith to make me think WTF is wrong with some of this bidding people? In the end after reviewing all I do calm down realizing that most watches realize 1.5 to 2.5 times their relative value for comparable series watches which makes a perfect sense at this point.
In the end I am smiling because the total of 2.7 million Euro raised is for medical Research on Duchene Muscular Dystrophy leaving me and my insignificant thoughts all flailing in the dust of big picture insignificance.

Friday, September 21, 2007

Antiquorum Monaco Only Watch Auction Results

September 20, Monaco Yacht Show.
In the presence of H.S.H. Prince Albert II of Monaco, the Only Watch
07 charity auction of 35 unique timepieces, first in series or prototypes
raised the exceptional sum of € 2,756,500/ USD 3'878'946,/ CHF
4'553'186. All proceeds from this sale, organized by Antiquorum,
will help fund important medical Research on Duchene Muscular

Luc Pettavino, President of the Monaco Yacht Show and founder of
the Monegasque Association against Muscular Dystrophy said:

” Sometimes talent comes from really wanting something. Only
Watch has proven this to be true. Everyone who was involved in Only
Watch 07 wanted to be a part of its unique energy and excitement.
In this “second edition” of Only Watch, creativity, celebration,
generosity and professionalism all joined together in an outstanding
charity event that will benefit international research into Duchene
Muscular Dystrophy.

The 2.7 million euros earned will allow the Association Monégasque
contre les Myopathies to continue to support ongoing research programs
and to encourage new ones. Thanks to Only Watch, each new day brings
us closer to finding a therapeutic treatment to relieve the suffering
of children who have Duchene Muscular Dystrophy.

From the bottom of my heart, I would like to thank: HSH Prince Albert
II, who has sponsored and supported this event with great compassion;
the watchmaking brands; the auction house Antiquorum; the Monaco
Yacht Show; and all our partners.

Only Watch has become a yearly engagement in the world of charity
and Haute Horology. It is familiar and eagerly awaited by collectors
the world over, and it is immensely beneficial. Therefore, it is
with great pleasure that all the participants in Only Watch
07 join me in inviting you to attend the third Only Watch event,
to be held in September 2009: ONLY WATCH 09 - season III."

More than 300 people attended the auction, including
personalities such as Philippe Starck and Formula One driver Felipe
Massa. Fierce bidding in the room competing with hundreds of bidders
from all over the world via the Internet and over the telephone.  This
is the largest sum ever achieved by a charity event in Monaco.

Here the lots in alphabetical order (please click on the image for high definition picture):


Lot 1

Audemars Piguet ” Royal Oak
Offshore Volcano”, first in series.

A very fine, self-winding, stainless steel gentleman’s wristwatch with
approximately 60-hour power reserve chronograph, 30 minute and 12 hour registers,
date and  tachometer.


40,000 EUR


Lot 2

Blancpain “Ultra-Thin” Pièce

A very fine and exceptional 18k yellow gold keyless dress watch with ultra-thin
(1.9mm) mechanical movement and approximately 40-hours power reserve.


70,000 EUR


Lot 3

Breguet ”Chronograph Classique
A Rattrapante”
1 of a limited edition of 7 pieces.

A very fine and important, 18k yellow gold gentleman’s wristwatch
with split-seconds chronograph, 30-minute register, tachometer and
enamel dial.


90,000 EUR


Lot 4

Chopard “L.U.C. Chrono One Prototype” Fleurier
et Genève,
Prototype No. 1 of 2.

An exceptionally rare and interesting self-winding 18k white gold gentleman’s
wristwatch with approximately 60-hour power reserve fly-back chronograph, 30-minute
and 12-hour registers, date and a partially skeletonized dial.


32,000 EUR


Lot 5

Corum Admiral's Cup Challenge 44 Regatta,
number 1 in a special edition

A very fine and important 18k pink gold self-winding gentleman’s wristwatch
with approximately 42-hour power reserve, reserve split-seconds chronograph,
30-minute and 12-hour registers, date and an 18k pink gold, and rubber bracelet.


22,000 EUR


Lot 6

Daniel Roth  “Tourbillon
Date Retrograde Double Face”

A very fine 18k pink gold double-dialled gentleman’s wristwatch
with one-minute tourbillon regulator, retrograde date, 64-hour power
reserve indicator and 18k pink gold dial.


42,000 EUR


Lot 7

De Bethune “Time-Zone No.00”Pièce

A very fine and important titanium and platinum gentleman’s
wristwatch with differential winding - sport and statics, 6-days
power-reserve indication and triple anti-shock system.


45,000 EUR


Lot 8

deLaCour ”Saqra Weekend Graphite”Pièce

A very fine and interesting graphite and 18k pink gold self-winding
wristwatch with day, date and 40-hour power-reserve indication.


14,000 EUR


Lot 9

DeWitt and Jean-Michel
Wilmotte. “Incognito 2008” One-of-a-kind model.

Time and Creation, united in the shared vision of Jean-Michel Wilmotte for the
design and DeWitt for the horological substance. One-minute flying tourbillion
regulator and 21-day power-reserve. To be unveiled in January 2008.


400,000 EUR


Lot 10

Eterna “Madison” No.1
in a limited edition of 75 pieces.

A fine and special 18k pink gold centre seconds gentleman’s
wristwatch with deployant clasp.


9,000 EUR


Lot 11

Franck Muller, “Totally Crazy
Pièce Unique.

A very fine and amusing 18k white gold self-winding wristwatch with
random jumping hours, date and the Monegasque coat of arms on the dial.


180,000 EUR


Lot 12

Frédérique Constant ”Heart
Beat Zerodur”, Pièce Unique.

A fine and important 18k pink gold astronomic gentleman’s
wristwatch with date, moon-phase indicator, innovative Zerodur
balance and Silicium escape wheel.


11,000 EUR


Lot 13

Gerald Charles “Gérald Genta celebrates César” Pièce

Very fine and interesting 18k white, pink and yellow gold “Compression
de Cesar” self-winding gentleman’s wristwatch with sliding-hours.


40,000 EUR


Lot 14

Girard-Perregaux  “World Time-Perpetual
Calendar-Financial”, Pièce Unique.

A very fine 18k pink gold astronomic gentleman’s wristwatch with
Perpetual calendar world-time with 24 global locations, “trading-time” indication
for the major markets in the world and moon phase.


17,000 EUR


Lot 15

Glashütte Original, “Prince’s
Palace of Monaco”,
Pièce Unique.

An exceptional 18k rose gold self-winding gentleman’s wristwatch
with a Meissen porcelain dial with a polychrome depiction of the ““Prince’s
Palace of Monaco”.


30,000 EUR


Lot 16

Harry Winston “Avenue Exotic Birds - Set n°1
of a limited edition of 5”

A very fine set of four 18k white gold gem-set lady’s wristwatches
with gem set cloisonné enamel dials; this new mini-collection
is a fresh artistic and romantic interpretation of the Exotic Birds


80,000 EUR


Lot 17

Hublot ”Big Bang Only Watch” Pièce

A very fine, oversized black ceramic and titanium gentleman’s
wristwatch with chronograph, 30-min and 12-hour registers and date.


28,000 EUR


Lot 18

Instrument et Mesures
de Temps  “Instrument de mesure de
Régularité”, Genève, Pièce Unique.

A very fine and important 18k pink gold gentleman’s wristwatch
with split-seconds chronograph 30-minute and 12 hour registers, date
and a triple pointer chronograph with different coloured hands corresponding
to 3 timing scales.


26,000 EUR


Lot 19

International Watch Co. Schaffhausen “Fliegeruhr
5026, Perpetual Calendar”

Very fine stainless steel astronomic gentleman’s wristwatch
with secular perpetual calendar and phases of the moon.


80,000 EUR


Lot 20

Jaeger-LeCoultre“Joaillerie 101 Etrier”, Pièce

An exceptionally fine18k white gold diamond and pink sapphire set
back wound wristwatch.


28,000 EUR


Lot 21

Jaquet Droz“Les
Douze Villes Monaco”,
Pièce unique.

An exceptional oversized 18k white
gold world-time wristwatch with jump-hour and time correction for
12 cities


32,000 EUR


Lot 22

Louis Vuitton “Tambour
18 Mandarine Watch”, Pièce Unique.

Very fine and important 18k yellow gold diamond set lady’s
wristwatch with diamond set orange mother-of-pearl dial. Accompanied
by a Louis Vuitton “Mini-Trunk” designed in collaboration
with Paul Pettavino.
11 years old.


66,000 EUR


Lot 23

Mauboussin “Oryx
Tourbillon”, No.1 in a special edition.

A very important 18k white gold gentleman’s skeletonized
wristwatch with visible one-minute tourbillon regulator.


130,000 EUR


Lot 24

Omega “De Ville Hour Vision, Only
Watch”, Pièce Unique.

A very fine 18k red gold gentleman’s wristwatch
with two barrels and co-axel escapement, the case with sapphire crystal
body to view the movement.


25,000 EUR


Lot 25

Officine Panerai ”RADIOMIR 10 Days GMT PINK GOLD” Pièce

A very fine and important, gentleman’s
wristwatch with 10-day power reserve indicator, 24-hour dial and
day, night indication with special blue dial.


44,000 EUR


Lot 26

Patek Philippe, Ref 5712T “Nautilus Titanium”, Genève,
Pièce Unique.

Watch made of titanium incorporating the automatic Calibre 240 with
hour & minute indicator, seconds' between 4 and 5 o'clock, power
reserve, date and moon phase display. This Nautilus Titanium is water-resistant
to 60 meters and features a two-colour dial with a horizontally embossed
pattern, a composite material strap, and a safety fold-over clasp in


525,000 EUR


Lot 27

Piaget, “Altiplano, Prince Albert
II” Pièce Unique.

A very fine 18k white gold diamond-set gentleman’s wristwatch
with diamond-set dial replicating the fingerprint of H.S.H Prince Albert
II of Monaco.


38,000 EUR


Lot 28

Pierre Kunz, “Chrono Sport Monaco” Genève,
Pièce Unique.

A very fine and important stainless steel gentleman’s wristwatch
with chronograph, skeletonized retrograde 30-minute and 12-hour registers,
day/night indication and red “Texalium” dial.


12,000 EUR


Lot 29

Richard Mille and Philippe
integral interpretation in titanium”,

A very fine skeletonized Titanium self-winding gentleman’s
wristwatch with fly-back chronograph, annual calendar, oversize
date, month, 12-hour register, 60-minute countdown time and approximately
55-hour power reserve (without chronograph running).


320,000 EUR


Lot 30

Rodolphe ”Instinct
Chrono 180° Only Watch”,
Pièce Unique, Unique Inscription and Unique Dial.

An unusual PVD coated gentleman’s wristwatch with two movements,
one for the chronograph with constant seconds, date, 30-minute and
12-hour recorders and the other for the time functions.


7,000 EUR


Lot 31

Swatch, “Pearly Pink”, Piece Unique.

stylish pink crystal set steel lady’s
quartz wristwatch.


4,500 EUR


Lot 32

Ulysse Nardin“Maxi Marine Diver
Only Watch 2007 Set”
, unique Set.

A very fine stainless steel and white gold gentleman’s wristwatch
with date and power-reserve indicator (approximately 42-hours). Accompanied
by a barometer and a copy of the book “Making of a Masterpiece”.


24,000 EUR


Lot 33

Vacheron Constantin, “Malte Tourbillon Platinum” Pièce

An exceptionally rare gentleman's platinum tourbillon regulator tonneau-shaped
wristwatch with date and 40-hour power reserve indicator. Also featuring
a carriage bridge in platinum (a first for Vacheron Constantin). The
case, dial, strap stitching and buckle are equally in platinum.


130,000 EUR


Lot 34

Van Cleef & Arpels “Lady Arpels Féerie”,
Pièce Unique

A very fine 18k white gold diamond-set (D-E-F) lady’s wristwatch
with a purple guilloché dial. The delicate white gold and
diamonds fairy indicates the time thanks to an hour and minute retrograde
mechanical movement.


70,000 EUR


Lot 35

Zenith “Defy Extreme Stealth 1000m Only Watch 2007”, Pièce

A very fine titanium divers wristwatch with revolving graduated bezel,
chronograph, 30-minute register, central power reserve indicator and
partially skeletonized dial.


45,000 EUR

Antiquorum is, unquestionably, the world’s leading
watch auctioneer; Of the 62 watches ever sold publicly by major auction
houses above SFR. 1,000,000, Antiquorum claims an impressive 44 .
In 2002, Antiquorum established the all-time world record price for
a wristwatch at auction when it sold a platinum Patek Phililppe World
Time Ref. 1415 from 1939 for an astounding CHF 6,603,500 (US$ 4,026,524).
This record-breaking price more than doubled the previous world record
price for a wrist watch at auction. Another record price for a modern
watch was achieved in 2004, the unique white gold Calibre 89, also
by Patek Philipe, was sold for SFr. 6,603,500 (US$ 5,002,652).


Info by Antiquorum

TEMPUS Manufacture Jaeger LeCoultre - Master Class Workshop

As mentioned before during the TEMPUS there was an abundance of opportunities to get various hands on experience with different aspects of watch making art through various workshops offered. I was very keen on taking a full advantage of this opportunity during this trip as many times previously I was always constrained by lack of time.

During TEMPUS one of the workshops offered was a Master Class by the Manufacture Jaeger LeCoultre.

In this instance Master Class was a 4-hour watch training course during which we were fully educated on all the nuances of disassembly and reassembly of Jeager LeCoultre Calibre 875 both virtually and in reality.

The very sympathetic Frank, Manufactures Master watchmaker, was our knowledgeable, helpful yet very easy going instructor that made this one class I didn’t mind attending.

First it was theory time. Sitting at our work benches over our laptops and following the action on the plasma screen we got acquainted further with all the parts comprising the Reverso Grand Date Calibre 875. Via the interactive CD-ROM watch making game we proceeded with virtual disassembly of all the sum of it parts, proper order, adjustment and then returning it back in the working order.

After the theory it was time to put all that in actual practice. Before each set of actions about to be taken we were instructed in detail by Frank and then it was on us to follow through.

Reassembly following the proper steps …

… until there was noting more to disassemble.

I can tell you that viewing all the much bigger parts on the computer screen as well watching Frank do it so effortlessly is a whole other thing when you’re doing it (especially after a whole night and only 2.5 hours of sleep)
You really can easily lose some of the tiny parts …

… YES I said real easy. Duh!

As the assembly work slowly progressed …

… S L O W L Y ….

… the things started looking better

… until TA DA!

At the end if the mechanically manual-wound double-barrel eight-day power reserve movement was properly assembled we were a recipient of a very nice Master Class Diploma & the same software CD for future practice.

All in all a wonderful experience of the mechanical complexity and detailed functioning of what constitutes a properly operated fairly complicated movement. I would strongly recommend anyone interested to further expand their horological interest to try out this class. Thanks again to MJLC and Hour Glass for organizing this event.

Daily thoughts, musings & interests about anything (mostly horology) that currently makes my soul & grey matter tick.