Watchonista’s Guide to the Upcoming Geneva Auctions

This month, watch collectors will descend upon Geneva like hipsters flock to Palm Springs for Coachella. In fact, auction fever has become so frenzied right now that timepieces that aren’t associated with a historic figure named Paul and even some watches that have been restored are expected to pull in six figure bids (if not more).

In a way, the reselling of important timepieces has come to resemble the secondary market in fine art. Just as the Mona Lisa got its moniker decades after Leonardo da Vinci’s demise, certain watch lots even get their own titles (case in point the Rolex “Unicorn” being offered at the upcoming Phillips Daytona Ultimatum auction).

The secondary market also feeds the primary market. In the same way Picasso made limited edition, signed lithographs of his original paintings (many becoming quite valuable), watchmakers have reissued versions of these historic watches which fans then bet on, hoping that these models will become collectible. It’s the circle of life.
 

While none of these timepieces has the celebrity cachet of Newman’s own Rolex, they all have unique backstories. These are the watches that collectors talk about in hushed tones at meetups but have rarely been (if ever) seen for public sale. The aforementioned ‘Unicorn’, for example, was made for a German retailer in 1971 and subsequently acquired by noted Italian collector John Goldberger. Goldberger was only convinced to part with the watch – which has an opening bid of $4.1 million – because the proceeds of the sale will go towards the charity Children Action.
 

There are, of course, collectors who place value on pieces that are immaculate, but when it comes to vintage timepieces, watches that show their age can still command a lot of attention.

One of the showstoppers of the Sotheby’s Important Watches auction is a rare stainless-steel Rolex reference 6239 Daytona with an original three-color Paul Newman dial. Over the time, the hue of the sub dials turned from black to a "tropical" brown and the white part of the dial mellowed into a creamy color. As the catalogue states “What was originally considered as a defect has become today highly desirable and coveted.”
 

For comparison’s sake, there are two Patek Phillipe reference 530 chronographs on offer at the Phillips auction. One, which has a flawlessly restored dial, has a substantially lower estimate because collectors put a premium on “honest” watches. But as the competition for watches in mint condition grows stronger, timepieces with a good restoration will become more desirable.

Stay tuned to Watchonista as we bring you the best of the Geneva watch auctions. To learn more about each auction, visit their respective pages.

Geneva Watch Auction Summary:

May 12^{th -} Phillips Daytona Ultimatum

May 12^th and 13^th - Phillips Geneva Watch Auction: Seven

May 13^th - Sotheby’s Important Watches Auction

May 14^th - Christie’s Rare Watches Auction

(Photography by Liam O’Donnell)