Time’s ripe to bid for the region’s most valuable watches
This month’s Watches Online: Dubai Edit by Christie’s is set to be the largest and most valuable watch auction to be organised in the Middle East. The online sale, which is now open for bidding until Friday, April 9, will offer nearly 200 timepieces, for a total estimate of between $9 million and $15m.
While the auction house provides all the information – about the models and their condition – in a digital catalogue, the watches can also be previewed by appointment until Thursday, April 8, at the Christie’s showroom in the Dubai International Financial Centre, Gate Village, Building 5.
The auction house says the lots include “the most indemand references today, true rarities from Patek Philippe, a selection of highly coveted Rolex references, and prestigious timepieces from independent watchmakers”. Remy Julia, chief watch specialist at Christie’s Dubai, says: “This auction is the perfect barometer for current collector demand, be it in the contemporary or vintage watch space. It brings together exceptional exemplars of watchmaking, in sync with the passion of discerning collectors in the Middle East.”
Of these, the Patek Philippe Sky Moon Tourbillon Ref 5002 in platinum is expected to set a record at auction, estimated to sell for up to $1.8m. Along with being the first double-faced wristwatch produced by the 182-year-old luxury watchmaker from Geneva, this is also one of its most complicated models – it houses 12 of the rarest complications, including a tourbillon and minute repeater.
Other Patek pieces coming to Dubai include the limited-edition pink gold Ref 5029 minute repeater, only 10 of which were made to commemorate the maison’s anniversary in 1997; the possibly unique Ref 3990P, with a light grey dial; three grand complications from 1994; and two pieces set with baguette diamonds.
Other jewellery watches come courtesy of Audemars Piguet, which is offering an exotic set of six medium-sized Royal Oak timepieces; as well as a unique
white gold, diamond, ruby, sapphire and emerald-set brooch indicating three time zones – London, Makkah and Brunei.
Vintage watch lovers can aim for the other big gun from Geneva, Rolex, which is offering four specimens that Christie’s describes as “highest on the desirability index”. Two of these are further listed as “extremely well preserved” – the Rolex Dato Compax Ref 6036, produced circa 1952; and “in astonishing condition” – a rare Rolex Chronograph Ref 3525. A Rolex Submariner “Big Crown” and Rolex Sea-Dweller “Patent Pending” are some other timepieces up for grabs.
Collectors looking to turn a tidy profit without breaking the bank can consider investing in independent watchmaker
F P Journe, whose timepieces have sharply risen in value over the past 12 months – astounding, given the year we’ve had. The Christie’s team has curated a selection of seven timepieces from the Swiss brand, including three from before 2004. These are recognisable by their rhodium-plated brass movements made from platinum, and have an estimated price of $100,000.
Finally, the auction has a few regionally relevant specimens, including vintage Rolex DayDate models with Hindi (or Eastern Arabic) numerals; Rolexes featuring the crests of royalty and armed forces; an MB&F LM1 M.A.D Dubai limited edition watch; and a Richard Mille RM 010 MBZ Abu Dhabi Grand Prix edition.
Vintage watch lovers can aim for four Rolex timepieces that Christie’s describes as ‘highest on the desirability index’