Rare Jaeger-LeCoultre Antiquorum Auction Results

Last month at the Rare Jaeger-LeCoultre Timepieces Antiquorum’s Auction in Hong Kong some questions were answered with some very interesting results that were posted.

 The Gyrotourbillon One actually hammered at HK $2,420,000 equivalent to US $312,000 (including buyer's premium), while the Reverso Gyrotourbillon 2 sold for HKD1,820,000 which is equivalent to about $235,000. 

 Last but not least the Reverso a Triptyque sold for HKD2,540,000 which is around US $328,000.

All of the Jaeger-LeCoultre Haute Horology Masterpiece complication Trifecta were auctioned for above the Antiquorum's estimates very much in line with few previous known comparable auction results inclusive of those done in the secondary private market.

I wasn't exactly sure how I felt about breaking up the Limited WG Trio but apparently the market has spoken giving approval to each individual piece as an entity & their respective individual values. This is certainly a welcome good news for JLC high end compilations and especially for their owners/collectors.

On the other hand other notable complication was a piece unique from IWC Destriero Scafusia in platinum which just couldn't meet the $220,000-270,000 estimate which in my opinion says a lot about the actual collectors demand as well valuation for high end pieces from the house of Schaffhausen.

In the other news the two notable Patek Philippe ( first time at auction ref 1526 Perpetual calendar in YG vintage from 1951 as well a vintage ref 1518 first Perpetual Calendar Chronograph from 1946) were both a surprising no sales. On the other had the ref 3939 Tourbillon Minute Repeater in PG Enamel dial originally sold in 2010 and first time offered on the auction went above estimate for HK $3,200,000 about US$513,000. Surprisingly this time the appetite for the highest of haute horology most recent watches prevailed over usual vintage blockbusters.

2008 BaselWorld and SIHH: Horology Market Impressions

2008 BaselWorld and SIHH Impressions

These are in short some of the most prevalent impressions of market trends that I noticed & few of my humble opinions that I would dare to contemplate at this time:

- new various complications by majority of industry in my humble observation for the sake of public shock and awe or as some would say bragging rights rather then for the true sake of practical (if not just useful) horology innovations (excluding a few honorable mentions)

- again like last year prevalent usage of unusual materials (alusic, zenithium, hublonium, tantalum, magnesium, ceramic and lithium) prevalent on the case aesthetic side and to some extent in the movement side of watch making. Definite trend in the across board contribution of all non traditional watch materials, but with notable addition of practical usage of the movement side of things (silicum balance spring, easium carbonitride, ceramic ball-bearings, etc)

- steel and gold seems are no longer the prevailing big guns of the watchmaking arsenal. Brands are continuing to venture down this less-trodden path (from last years bronze of Genta, forged carbon of AP, fusion of materials of Hublot, rusted Titanic steel of Romain Jerome, etc) to new dimensions of materials that were borrowed from many different sectors and in some instances R&D’ed on their own. More on this at a later time.

- reissue of older venerable names of the past as new years models. Some executed perfectly (like the Tribute to Polaris by MJLC) and some following the lead and utilizing it as a new strategy to a lesser extent (IMO Longines and to some extent IWC).

- demand for larger cases is still prevalent even though there is a some easing of that pressure across the board by the resurgence of movement towards less “flashy” if not more restrained case sizes.

- importance of focus on the new “emerging economies” markets (China, Russia, India and Middle East) over the “traditional” markets of Europe and US especially in regards to the top level market segment pieces.

- continuing development into the “bling” segment of horology development due to insatiable appetites of the “nouveaux riches” customers whose rise from common poverty left an ongoing rising demand to show off their newfound riches.

- continuing increase in the average cost of the watches across the segment thus making the accessibility of this hobby of ours further out of reach for many especially when considering the higher brackets of Haute Horology.

More in depth analysis of market, respective brands, selective models and imperative points we are faced to follow.