The first round was staged again this year of the year in Geneva. Five days where, after the forced break imposed by the covid, many of the majors met again collectors and dealers in the sector, who were able to touch and evaluate the timepieces offered by the auction houses. The Genevan spring climate was the backdrop for this long-awaited appointment, which twice a year makes it possible to ascertain the general trend of the market and the related emerging trends. Trends which, in practice, have once again proved to be solid and capable of absorbing the adversities that the world is experiencing at the moment.
50 years since the birth of the Audemars Piguet Royal Oak
At this round the atmosphere was even more electrifying than usual, given the 50th anniversary of the iconic Royal Oak, launched exactly in 1972. An occasion celebrated by almost all the auction houses, with particular regard for Phillips, which has set up an event in grand style to retrace the stylistic evolution of the model. In fact, the catalog offered an incredibly wide selection of Royal Oaks, from which emerges the extreme versatility of its design and the commitment made by the brand to make the most of it. The sale totaled 21.262.000 euros, a very high figure if we consider the total number of 88 lots offered.
5402ST, “The A2”. Despite the many configurations, with which the line Royal Oak has been enriched over the years, the first and most classic version still represents the best expression of the design coined by Gerlad Genta. As proof of this, the most expensive lot of the auction was a particular specimen belonging to the first reference produced, i.e. the 5402. It embodies the purest transposition of Genta's idea into reality and represents the foresight on the part of Audemars Piguet in creating the first luxury sports watch in history. The example auctioned by Phillips elevates to the nth degree the charm that is already normally imbued in a 5402. In fact, looking carefully at the caseback, the engraved serial "A2" cannot fail to stand out, a serial that identifies such example as the second Royal Oak ever made. In recent years, the reference 5402 has been the protagonist of a sudden and sustained growth, with collectors who have competed to secure a specimen and its history. In light of this, the euphoria generated by the sale of one of the very first pieces, which was exhibited at the Basel Fair in 1972, on the occasion of the official presentation of the model, should come as no surprise. In addition to the enormous historical value, it should be emphasized that the specimen was in like new condition and equipped with its complete set. The conservation, the favorable market conditions and the collector's relevance have led it to reach the incredible figure of 1.020.093 euros.
25654PT “brown dial”. Among the highlights of the sale, the Royal Oak Perpetual Calendar, whose recent rediscovery has unleashed a real "gold rush" to grab one of the most fascinating and long-lasting variations. Although Audemars Piguet has left this model substantially unchanged for about thirty years, enthusiasts have to juggle the many references that have followed one another, more or less rare depending on the production numbers. Among the numerous specimens at auction, one in particular captured the attention of the market, which recognized it as an enormous plus in terms of rarity and charm. It belongs to the reference 25654, remained in the catalog from 1987 to 1998 and made in a total of 852 units in the various metals. Starting from the latter data, we note how the production numbers are not homogeneous for all materials: some, such as platinum, are incredibly rare and sought after. In fact, only 33 examples were built, including a handful of units with a brown dial. The final price of 992.000 also took into account two other factors that have raised its desirability to the highest levels, namely the wording “no. 001” (ie the first platinum made) and the inscription “Asprey”, historic London dealer.
5402ST by Karl Lagerfeld. In addition to conditions and rarities, for some years there has been another fundamental characteristic that contributes to establishing the value of a collector's timepiece, namely the provenance. A real pedigree that somehow certifies the history of the object in the eyes of the collectors' world, often earning a considerable added value. In recent years, the world of auctions has seen the passing of several watches that belonged to celebrities, who wrote important pages of history in their chosen field. The auction for the 50th anniversary of the Royal Oak and precisely lot number 88 saw one of its most illustrious admirers celebrated alongside the Royal Oak, Karl Lagerfeld. Phillips found Lagerfeld's personal specimen, a decidedly particular 5402ST that is well suited to the personality of the man who represented to all intents and purposes the forerunner of modern trend-setters in the fashion world. The specimen immediately catches the eye for its black finish, given by a PVD treatment made to fulfill Karl Lagerfeld's wish to wear a timepiece in his favorite colour, precisely black. The object was not kept by the artist until his death but was already sold in 1995, the year from which all subsequent owners have spent themselves to find information capable of certifying its origin. The result of 910.000 euros it shows the market's appreciation of objects not only from a collector's point of view but also from a historical point of view.
Top lots of Phillips
Patek Philippe 1518 “pink on pink” . Reference 1518 represents both the arrival point in vintage collecting and one of the key models of Patek Philippe production. With only 281 units made, it embodies one of the few watches that has always remained at the top of the market, from the 80s until today. The version that has known a larger circulation is the one in yellow gold, followed by pink gold and, lastly, steel. Inside the pink gold specimens, some and more precisely 14 so far surveyed, have a salmon-colored dial in combination with the case. It is no coincidence that the example proposed by Phillips was included among the top lots of the auction, only to prove to be the most expensive timepiece of the entire May session. Not only rarities, but also the excellent conservation conditions have contributed to the incredible final result of 3.201.000 euros.
Rolex Daytona 6239 “Crazy Doc”. The second step of the podium is occupied by a Daytona almost unique in terms of charm and rarity. In fact, it features a dial with a pulsometric scale, which combined with the gold case gives it an unrivaled charm. Made in 1968, the example belongs to the reference 6239, which is the first expression of the Daytona. However, rarity was not the only element that makes the "crazy doc" (so nicknamed by Phillips) one of the most important Rolexes ever. In fact, it was chosen as a personal watch by one of the most influential artists of all time, namely "slow hand" Eric Clapton. He was the first custodian of this timepiece, which appeared on the market for the first time in 2003 at Christie's auction house. An ideal example of provenance and rarity, this Daytona achieved an impressive €1.673.875.
Christie's top lots
Rolex Daytona 6269. It's no secret that stone-embellished Daytonas are among the hottest watches on the market. Indeed, since the introduction of the first automatic Daytona, Rolex has offered its customers the opportunity to purchase the iconic model in the most precious version possible, hence the birth of models enriched with rubies, emeralds and sapphires. Although, as just mentioned, production was concentrated from the 90s onwards, there are two manual Daytona references in which Rolex had already demonstrated its mastery of the art of setting. Two references so rare that by adding the production numbers of both, you don't even get 50 units. We are talking about the unattainable 6269 and 6270, which have a diamond-encrusted dial and bezel. In particular, Christie's auctioned a 6269, which as announced aroused immense interest on the part of the market. The brilliance of the diamonds combined with the gold case would not leave even a long-time collector indifferent, with particular regard to the dial on which 240 round diamonds and 9 sapphires stand out for the indexes. The final award of 1.568.825 euros fully reflects the importance and rarity of this reference within the history of the brand.
Rolex Daytona 6264 Paul Newman “lemon dial”. Second place is also occupied by a Daytona, also in gold. It is a rare 6264 with a wonderful lemon-colored Paul Newman dial, a configuration that only appeared on this reference and for a very short time. The example up for auction was in excellent condition and the dial had a brown color near the counters and minute track. The latter feature is increasingly appreciated by the market, as it gives the object an exotic charm and great personality. In recent years, the category of manual Daytonas in gold has experienced an important leap in terms of prices, which reward their greater rarity compared to the steel versions. The 6264 Paul Newman auctioned by Christie's confirms this trend, settling well over one million and exactly at 1.217.000 euros.
Sotheby's top lot
Sotheby's is also celebrating the anniversary of the Audemars Piguet Royal Oak by proposing a roundup of specimens, among which the 5402 that belonged to Gerald Genta certainly stands out. The man who gave birth to one of the most important chapters in the history of watchmaking could not fail to own one of his creations and thanks to Sotheby's, collectors from all over the world had the opportunity to compete for the Royal Oak chosen by the designed in person. It is specifically the reference 5402, with an unusual case in steel and yellow gold, the purchase of which took place on May 15, 1978 and is confirmed by the Audemars Piguet archives. An object that certainly represents one of the most important Royal Oaks ever made and pays homage to the man who was the first to launch the concept of a certainly sporty watch but not neglected in terms of finishes and design. The award of 2.045.740 euros confirms the historical significance of the object, setting the record for the most expensive 5402 ever.
Research carried out and article written by Lorenzo Rabbiosi (The WatchBoutique)
