Hello and welcome to PRIMETIME, watchmaking in the news and this edition is going to be
quite rich and intense.
We have an interesting selection of product launches to talk about, some general business
news, come back on some auction results and what they mean and still a few things to share
with you.
So let's not waste any time and let's immediately start with some "fireworky"
auction results.
Because yes we saw a new crazy record for a Rolex and what a record as the Reference 6062
known as the Boa Die was sold by Phillips in Geneva for a staggering 5.1 Million $.
This is twice more than any other Rolex sold before and I have to admit that this 1952 triple
calendar moonphase timepiece belonging to the last Emperor of Vietnam is really a stunning
looking watch, but these prices are really getting stratospheric.
It was purchased by an unknown private collector and I doubt we will see this watch back in
auctions rooms very soon, so quite nice for us to have been so close to it and being able
to share with you these nice and exclusive images.
Something by the way we had been able to do last year too with the ultimate wristwatch
record set by the Patek Philippe Ref. 1518 in steel sold for 11 Million $, yet another
little exclusive insider, we like those and count on us for some more.
Anyhow, there were other auctions during that same week and it was very surprising and disappointing
to see that Sotheby's was not able to find a buyer for the incredible Calibre 89 by Patek
Philippe, the brand's most complicated timepiece ever produced for its 150th anniversary back
in 1989.
For the record, its current owner had already put this watch for sale a couple of years
ago for a rather high fixed price, we are talking around 11-12 Million $, and it was
actually Christie's, the other important auction house, that was previously tasked
to do so in its Private Sale departement, but that didn't happen.
So the owner now went with Sotheby's, was ready to put it in public auction, was ready
to lower the price if we can say so, but never the less the reserve price was not reached.
All in all, I think this gives unfortunately a bad vibe to this timepiece, like a wrong
signal, so we'll see what will happen next, because it remains an extraordinary timepiece
with its 33 complications and what it represents in the history of the brand and for watchmaking
in general.
So quickly talking about the overall results, the 4 main auction houses sold for a bit more
than 60 Mio $ of vintage timepieces during this Geneva week, but one has to note that
Philipps represented 50% of this number, so clearly the market leader in the world of
watch auctions and I just wanted to mention a rather poor performance by Sotheby's,
ten times as less as Phillip's with approximately 3 Mio $ in sales and actually so poor that
I didn't even receive a press release from their part summarizing their results, something
you generally get quite automatically.
In terms of trends, Rolex definitely dominated these auctions, of course some Patek Philippe
also went for some pretty high figures, but it seems like collectors are slightly shifting
their interest from what used to be the blue chip lots of any watch auctions not even so
long ago.
So let's change subject and before talking about the main product launches and going
by the many comments regarding a special Nixie tube timepiece you've seen on the mantelpiece
of Mr Aurel Bacs, that's the watch auctioneer and great story teller of Phillips, well I
just wanted to tell you that we will come back on this original object very very shortly,
since it seems to stir quite a lot of interest!
So now let's talk about some new watches and we will start with Richard Mille as the
brand has used once again the start of the French Tennis Open to unveil the new Rafa
Nadal RM27, the dash 03.
With previous versions of this extreme tourbillon watch, the emphasis had been placed on its
ultra light weight characteristics: the second iteration, the RM27-01 weighing slightly less
than 20 grams, straps included and that will be a record hard to beat I think!
So for this new version, Richard Mille doesn't really talk about the weight, but have instead
focused on its shock resistance properties as it can resist shocks up to 10'000 Gs!!!
Well you can actually feel this sturdiness by looking at its construction, with for instance
the fact that the case and base plate are now one, like a monobloc construction, which
is made out of Carbon TPT and it is a machining achievement in itself, a rather clever one
and yet another parallel to ultra performance sport cars.
The titanium bridges have also been developed in that direction, on top of presenting some
kind of a bull head figure reminding of the spanish origins of Rafael Nadal, something
made even more obvious with the colors used on the Quartz TPT of the bezel and back case
cover with these yellow and red colours.
So this audacious tourbillon will again be limited to 50 timepieces and again its price
is rather flamboyant as it is set at 750'000 $. I know, quite crazy, but that's the price
to be part of a very small and special club of individuals around the planet.
Talking about some other exceptional timepieces or should I say timepiece, MB&F has just presented
an incredible and spectacular version of the HM6.
This is the all sapphire HM6 Alien Nation, limited to 4 pieces and they are all unique,
you have a blue, a light blue, a green and purple version, that's the colour of the
gasket and in each one of them you will find 6 minute hand engraved aliens that look like
they are kind of working and participating at the movement's good functioning.
And you have to realize that each alien require 34 hours of work by a very skilled and patient
craftsman and regarding the sapphire case, well it is made up of 12 different blocks
requiring a total of 510 hours of machining, so quite a lot of work put in this incredible
machine.
As a reminder, the HM6 was first introduced in 2014 and this flying tourbillon movement
was from the start limited to 100 movements split into 50 titanium versions, 18 pink gold
versions, 20 SVs, also in a sapphire case coming in two versions, these 4 unique Alien
Nation versions, so another 8 movements are still available for probably another quite
crazy final version.
And just to mention that the price of this Alien Nation version is set around the half
million mark and even though it's been introduced only yesterday, well they've already all
been sold, how crazy is that and again quite a demonstration of the hotness and appeal
of the brand.
Girard Perregaux reintroduced the Laureato this year, a collection first launched in
the 70's but which had unfortunately been put on pause for a few years.
You guys know I quite like this watch, this is an early 2000 titanium model I'd bought
at the time, the Evo3, and GP are really placing a lot of hope on the redevelopment of the
brand, in terms of business I mean, on this "new" collection seen at the SIHH this
year.
You had pretty simple models at some quite decent prices I think, but now GP has just
launched a skeletonized version coming in a steel or rose gold case.
Personally i think that both of these versions look really good, but the price for me seems
to be set a bit high: 32'000 $ in steel and 60'000 $ in gold…
Ok you have the new in-house GP1800 caliber with its a variable-inertia balance, it's
finely hand decorated, but still...
So in much more affordable territory, let's very quickly talk about another skeleton watch
as Corum have introduced a colorful open worked version of its Bubble watch.
It comes in three colors, green, blue and purple in its 47mm steel case and features
the caliber 39 manufactured by Eterna, the sister company, beating at 4Hz, and costs
approximately 6'500 $. Ok, I know it's something quite different, but still...
And finally, just wanted to come back on a new original wall clock made in collaboration
between Fiona Kruger, that's the brand behind some very cool skull like wristwatches, and
L'Epée, the clock manufacture we've seen on TheWATCHES.tv with some previous collaboration
with MB&F.
This wall clock comes in two versions, a black and white as well as a very colorful version
inspired by mexican style, and one of the originality is that the power reserve indicator
consist of the mouth opening as it uses its energy.
Ok, you have 35 days of power reserve, so it won't yawn on you just like that and
it's limited to 50 pieces for each version and comes at a price of approximately 30'000 $.
A very cool object.
Ok, so let's now talk about business matters and you have probably noticed that Omega is
the official Olympics timekeeper.
The brand has been linked with the Olympics game since 1932 and they have just announced
that they have pursued this partnership till 2032, so quite some long term commitment there,
but for the most viewed sport event in the world, this for sure brings them worldwide
visibility and also prevents any other brand to benefit from it, as we have heard that
Seiko was really pushing hard to take this spot, hence the long commitment.
During the last PRIMETIME, I mentioned that since a long time swiss watchmaking export
figures had finally marked a positive increase for the month of March, but I also mentioned
that I didn't believe that the overall decrease will stop there and the figures for the month
of April has just confirmed that.
Again, I still think this trend will continue, the size of the cake is gently and for sure
getting smaller and some brands still have to adjust to this new business environment
with new and better positioned products if they don't want their slice to transform
into little crumbs.
Well I'll say this again, but it doesn't take anything away for my love and appreciation
for this industry, but the good old days are definitely over for most of the brands.
I doubt many would disappear, but get smaller for sure and I just hope shareholders will
understand that instead just of aiming for continuous and unnecessary growth.
A watch is an emotional product and it doesn't follow the same strategy as car makers.
Regarding upcoming events, I just wanted to mention that we will be attending the geneva
trade fair dedicated to the suppliers of the industry between the 20th and 23rd of June.
This is called the EPHJ and it's always a good place to get a feel of the industry,
on top of often discovering some pretty interesting stuff that might end up in some watch collection
in the future.
And one last thing I wanted to add as a little teaser is that our next Who's Who of Watchmaking
will be dedicated to URWERK, a brand that is celebrating its 20th anniversary this year
and this brand has for sure open the way to many independent brands we know today with
their rather disruptive take on watchmaking.
So before going back on the big big independent brands, I thought it was very interesting
to come back on this small but iconic player of the watchmaking planet.
And one very final thing, I just wanted to say that we had to pause our boutique endeavor,
we need to get some stuff sorted first, this naturally really annoys me since it was a
way of financing our activity, so for any of you who want to give us a small hand, well
we still our Patreon campaign going on, so feel free to pledge a buck or two ;)
All the very best and see you real soon with some super cool reports coming ahead, I can
promise you that.
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