Every May and November, the world's auction houses set up shop in Geneva, Switzerland, for some epic watch sales. And as one might expect, these multimillion-dollar events draw watch fans and super-rich dudes alike (both with lots of money to burn), all looking to add to their collections of extremely expensive Rolexes and Patek Philippes.
But of the major houses taking timepieces to the Peace Capital, it’s Phillips that is causing the biggest stir this year. Even though it's relatively new to this scene (this weekend is only the third time Phillips has visited the city to sell watches), the house still managed to bring together a collection of some of the rarest tickers in the world. Paul Boutros, who leads Phillips's watch department in the Americas, estimated that Phillips will sell at least CHF 15 million (that's in Swiss francs, or just over $15 million) by Sunday.
For a closer look at what you can buy (if you've got the money), we talked to Boutros about the most desirable pieces going under the hammer.
Start, Stop, Reset: 88 Epic Stainless Steel Chronographs
"The chronograph watch itself is such an engaging type of timepiece," Boutros told GQ when asked why Phillips organized a separate sale for this category. "We feel that there is such tremendous interest in steel chronographs at this time, and at the same time we wanted to highlight and showcase some extraordinary watches from brands that aren't so popular at auction.”
Rolex Cosmograph Daytona "Paul Newman Oyster Sotto"
Estimate: CHF 750,000–1,500,000 ($772,712–$1,545,428)
There are only 20 Rolex Paul Newman Daytonas in the world with the Sotto configuration, in which the word Cosmograph appears above the word Oyster. But this model also has an ultra-rare "tropical brown" dial.
"The collecting community has given that term to watches whose dials have aged from black to brown," Boutros said. "And the more uniform the aging is, the more desirable.”
Rolex Reference 4113 Split Second Chronograph
Estimate: CHF 800,000–1,600,000 ($824,266–$1,648,465)
Rare can be an overstatement, but this watch actually deserves it. Rolex only made twelve of these watches in the ’40s and gave them away as gifts to race car drivers like Ettore Bugatti. The model you're looking at is one of only eight that have been found to date.
Rolex Zerographe Reference 4336
Estimate: CHF 250,000–500,000 ($257,571–$515,145)
Rolex's Zerographe prototypes were the first watches in the world to boast rotating bezels, a feature now found on Rolex's GMT and Submariner. Because each one is essentially a one-off, "to find one, it's like a unicorn," Boutros said.
Estimate: CHF 350,000–700,000 ($360,600–$721,148)
This Patek Philippe, made in 1955, was one of the only waterproof chronographs the company made before 1990. That's what's kept it in superb condition: over the years, no moisture has gotten into the case to damage the components.
Estimate: CHF 350,000–700,000 ($360,600–$721,148)
This Daytona is one Boutros said he'd buy for himself. "Rolex custom-made each of these for a doctor," he said. It's "one of four or five ever made with a pulsation scale." (That's the subtle blue band around the outer edge of the dial, which helped doctors measure patients' heart rates.)
The Geneva Watch Auction: Three
Sunday's auction will bring out some of the best watches (and the biggest bidders).
Estimate: CHF 800,000–1,600,000 ($824,266–$1,545,428)
"This is the equivalent of a Ferrari 250 SWB in the collectors’ world," Boutros said of this watch. It's in fantastic shape for something made in 1956, and it's the first time this one is appearing at an auction. "You have here one of the most desirable watches of all time.”
Patek Time Only Watch Reference 530
Estimate: CHF 300,000–600,000 ($309,085–$618,126)
"This is a wolf in sheep's clothes," Boutros said of this deceptively simple watch. Even though it only has one complication, it's a unique timepiece thanks to its black dial and its stylized numerals. It's also never even been worn. "For those who know, it is the most important, most beautiful, and possibly the most valuable time-only wristwatch in the world.”
Vacheron Constantin Chronometre Royal
Estimate: CHF 80,000–140,000 ($82,431–$144,255)
Vacheron Constantin's top-of-the-line watches belong to its Chronometre Royal series, and this one is significant because it's the first (and only) one with a white-gold case.
Estimate: CHF 500,000–1,000,000 ($515,166–$1,030,397)
Rolex made only two references that included a moon-phase complication, and this is one of them. What sets this one apart is its black dial and the hand-applied gold-star indices. That's where it gets its name, Stelline. (This is the other watch Boutros told us he'd bid on.)
Estimate: CHF 400,000–800,000 ($412,122–$824,105)
In the watch world, you win a lot of points for something unique. This is the only known Patek Philippe that has a Calatrava cross symbol installed at the dial's 12 o'clock position. It was also the most complicated watch in existence (check out that leap-year indicator at 3 o'clock) when it was first produced in 1990.
Estimate CHF 180,000–280,000 ($185,423–$288,480)
This 18K-gold watch looks brand new, but it's actually almost 60 years old. Its bezel is made from Bakelite, a synthetic plastic that cracks pretty easily. The fact that it's been intact for several decades adds to its value. Expect a big splash from this watch: It's the current record holder for a GMT sold at auction, fetching CHF 290,000 in 2009.
