Editor’s Note
This report from Sotheby’s “Important Watches” auction highlights a strategic shift toward a larger, more diverse catalog, aiming to achieve sales volume through quantity and broaden opportunities for collectors.
The season kicked off on a Friday morning with Sotheby’s main auction titled “Important Watches.” Geoff Hess and his team presented a broad catalog of 252 lots, in contrast to the “curated” theme of Sotheby’s recent auctions in Geneva. During a brief chat at the preview, Hess clearly stated that Sotheby’s as an organization had to achieve a certain total sales volume. With fewer mega-million-dollar lots, they aimed to cover it with quantity, indicating opportunities for bidders to acquire overlooked watches.
While the quantity was high, the clear theme lay in storytelling and provenance. One could expect to encounter a watch with a story every 15 lots or so.
Lot 37 is a 1929 Cartier Tank sold by Cartier New York, originally owned by Clarence Douglas Dillon, a member of a prominent New York family who served as Ambassador to France under President Eisenhower and as Treasury Secretary for Presidents Kennedy and Johnson. While its origin is impressive, its current owner, TikToker Mike Nouveau, is no less remarkable.
Regarding the Phillips auction, many articles have already been published on HODINKEE. This article will share my picks, but for detailed explanations on Philippe Dufour’s Grand et Petit Sonnerie (Lot 12), refer to Mark; for the TimeForArt charity auction, Lots 81 to 105, refer to Malika; and for Lots 30 to 34, which Ben himself owned, refer to Ben.
I’m keeping an eye on Lot 10, the Rolex Daytona “Le Mans,” making its auction debut. After a few (a dozen?) changed hands privately, it will be interesting to see how the auction market values Rolex’s hottest release in recent years (decades?). It was easy to imagine the room reaching a fever pitch early on with this Le Mans and the following Dufour lot. Amidst the aftermath, Lot 22, a Rolex Submariner with double reference 6536/6538, has quietly become one to watch. While relumed hands are becoming more accepted in vintage Rolex, this watch is in exceptionally fine condition. However, project watches tend not to fare as well in auction catalogs. This watch also carries an attractive estimate of $50,000.
Lot 24, the Patek Philippe Calatrava Ref. 530, will show just how real the current trend for elegant time-only watches is. The Ref. 530 is the ultimate vintage Calatrava. Not only is it 1.5mm larger in diameter than the Ref. 570, but it’s also rarer. In fact, its existence was largely unknown to collectors until a letter was published in 2004 confirming Patek actually made a time-only Ref. 530 (this reference number is typically assigned to chronographs). Regardless, Ref. 530s with Breguet numerals, in particular, command high prices at auction.
A steadfast vintage orientation was felt from Phillips New York. The mint-condition yellow gold Ref. 6263 Daytona, Lot 27, epitomizes this. And have you heard London Cartier watches are trending? Lot 36 is one of only two London-made Tank Divans, and a fierce bidding war might ensue. The other is likely held in the Cartier Collection and not for sale, and its condition is reportedly not as good.
Among the most stunning vintage Pateks I saw in 2024, Lot 54 is perhaps the unique piece Ref. 1436 split-seconds chronograph with Breguet numerals. Opposite the Patek signature on the dial is inscribed “Leading Apprentice Hialeah Park 1941,” suggesting it was first owned by a jockey named Wendall Eads who won that award. In 1941, Eads was a star with 150 wins and 110 places, earning what would be $7.3 million in 2024 prize money. As a unique piece with a “custom” dial, this is a rare watch (one of about 25). It last sold at Christie’s in 2012 as part of Gordon Bethune’s collection for $182,500.
Lot 120 is a previously unknown, fresh-to-the-market Rolex Ref. 6100 paired with a Stern Frères grand feu enamel dial named “La Caravelle.” A Ref. 6102 with the same dial sold for 1.27 million Swiss francs in May. These two dials are nearly identical, with the same design code and hand-engraving by master enameler Marguerite Koch on the back. I fell in love with this Ref. 6102 in May and was stunned by its strong result; this time, I’ve chosen this Ref. 6100 as my favorite lot of the auction season.
Christie’s Important Watches auction was held on Monday, December 9th. The catalog featured a strong selection of vintage and modern timepieces, continuing the season’s focus on provenance and rarity. Notable lots included several important Patek Philippe references and rare Rolex models, appealing to a wide range of collectors seeking both historical significance and investment potential.
This special auction on Tuesday, December 10th, featured watches and memorabilia from the collection of legendary quarterback Tom Brady. While not a traditional watch-focused sale, it included several notable timepieces, blending sports history with luxury collecting. The sale attracted significant attention, highlighting the crossover appeal of celebrity-owned assets in the auction world.