Marteau & Co. Aims to Shake Up the Auction Scene for Independent Watchmakers

It might not be strictly proper to open an article with a bullet list, but I’m going to go ahead with it anyway:

*3% maker’s fee
*0% seller’s fee
*20% buyer’s fee

These easy-to-grasp figures might seem surprisingly simple, but in the conventional, traditional world of watch auction economics, these numbers are nothing short of seismic. For comparison, the standard auction maker’s fee is typically 10% to 25% of the hammer price, the seller’s fee can go as high as 35% of the hammer price, and the buyer’s fee is, like the maker’s fee, usually 10% to 25% of the hammer.

Now with all those numbers in mind, this long-overdue disruption is what the newly announced Marteau & Co. auction house is all about.

The two founders are unapologetically driven to create a new environment of fairness, transparency, and storytelling for indies, and for treating those makers as the artists they truly are. Both of them certainly have the hutzpah and background for it.
 

Co-founder Leonard Pictet has 15 years of experience at the Richemont Group, including stints at Jaeger-LeCoultre, A. Lange & Söhne, and other brands. His appreciation of craftsmanship is well-pedigreed and beyond compare.

Meanwhile, Founder Arthur Touchot brings his long career as a journalist (The New York Times, The Financial Times, and Hodinkee), author (2022’s sold-out Assouline book De Bethune: The Art of Watchmaking), and award jurist (Louis Vuitton Watch Prize, GPHG) to bear for the upstart platform. He has also led the charge on digital efforts at traditional auction houses (he joined Phillips in 2017).

With Marteau & Co.’s first online auction coming up this fall, we asked founder Touchot some burning questions.
 

Watchonista: How much of Marteau & Co.’s genesis is about a new venue exclusive to independent watchmakers versus the introduction of this bold, disruptive economic model?

Arthur Touchot: Independent watchmakers are well represented on the auction scene, but they don’t benefit from the protections put in place for other artists sold at auction.

Marteau & Co. exists to close that gap. So, we need to have a bold and disruptive approach, but the idea is really simple, actually.

W: Are you looking at the whole universe of independent watchmakers?

AT: There are more independent watchmakers today than ever, and we want our catalogues to show that. Our aim is to curate a small and balanced selection.

We want to showcase the full spectrum of independent watchmaking, without imposing rigid filters.
 

W: How has the reaction been from indies so far?

AT: The response so far has been incredibly encouraging. We’ve had thoughtful conversations with a wide range of watchmakers, from well-established names to emerging voices.

That said, we know we haven’t spoken to everyone yet, and we’re eager to connect. This platform was built with independent creators in mind, and we’d love to hear from any watchmaker who is curious about what we’re doing or wants to explore how Marteau & Co. might support their work.
 

W: You’re forming a new online platform focused on independent watchmaking, but the platform will go beyond digital auctions, yes?

AT: Absolutely. While auctions are inherently exciting, we believe that connections are built outside of the auction room. And that’s why we want to continue the conversation between collectors and watchmakers throughout the year, through thoughtful editorial content, meaningful in-person events, and other experiences that add value to both sides – collectors and watchmakers.

Learn more at Marteau & Co.’s website.