Auctions - Young brands, impressive results
"No more 1966. Let's splurge! Bring us some fresh wine! The freshest you've got - this year! No more of this old stuff." This is a quote from Steve Martin in the movie "The Jerk" in which he plays a nouveau riche business man who obviously had no clue on fine vintage wine. However this remark could have been heard in the venue of an auction house where new watch brands are experiencing a growing interest from collectors who used to only go for the established brands such as Audemars Piguet, Patek Philippe and Cartier.
We all know that Steve Mc Queen means money when his watches and other memorabilia go under the hammer, this also accounts for other watches once worn by important world leaders, politicians and actors. Nonetheless, these are all watches with 40 or more years on their (case) backs.
These days however auctions around the world are experiencing impressive results for watches that left their respective manufacturers only a few years ago. Auctions especially in Hong Kong often offer many newer watches, not least from Richard Mille.
Richard Mille
A Richard Mille RM005 Felipe Massa in titanium was sold at Antiquorum on January 26th this year and fetched approximately Euro 35.000, which is a rather impressive amount of money for a watch that has a suggested retail price of approximately Euro 39.000. It pretty much means that the former owner got most of his money back on a watch he owned for only a very short while.
This is not very common on any product with only a few years behind it, unless it has a celebrity provenance. The RM005 Felipe Massa was not even a super limited production as a total of 300 pieces were made. 300 watches is quite a large number for Richard Mille, as the young watch company that is only 12 years old, produces only 2000-2500 watches a year. However the auction result only proves that Mille's innovative approach to modern horology is increasing popular with collectors of fine watches, even though we're talking about a brand that didn't invent the tourbillon, was not worn by Kennedy and does not have 300 years of uninterrupted production on its curriculum vitae.
A. Lange & Söhne
German manufacturers A. Lange & Söhne recently entered the big league in terms of auction results when an early 1815 Tourbillon "Pour le Merite" in platinum went under the hammer at Dr. Crott auctioneers in November 2012. Originally offered in 1994-1998 and limited to 50 pieces this complicated watch ended a bidding war at 248.000 euro, which is three times its original retail price.
A. Lange & Söhne has been a highly respected watch brand since the revival in 1994 and late Gunther Blumlein would be proud of the brand he helped steer back on track, if he had lived to see results like this appearing more and more frequently at auctions around the world.
Roger Dubuis
If I were to suggest a young brand that looks like it will make an impact on future auctions, I would mention Roger Dubuis, originally established by the man behind the name along with innovative Portuguese antiques dealer (now winemaker) Carlos Dias. In 1995 the world was suddenly introduced to wonderful complications in surprising cases and with fascinating dial layouts. Not least the now iconic Excalibur. Early versions from this collection are popping up at auctions and I think they should be bought now, as the interest in Roger Dubuis under the ownership of Richemont is rapidly growing.
Looking at these results and prices makes you wonder whether the outburst of Steve Martin in aforementioned movie was as ignorant as you might think. Maybe he was on to something. At least when it comes to watches.
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