Why Buy Watches at Auction?
- Access to rare models (discontinued, limited editions)
- Potential bargains vs. retail prices
- Investment opportunities (certain watches appreciate over time)
- Verified authenticity (reputable auctions provide expert vetting)
Top 5 Watch Auctions for Rare Timepieces
1. Christie’s (Geneva & Hong Kong)
- Specialty: Vintage Rolex, Patek Philippe, unique provenance pieces
- Notable Sales: Paul Newman Daytona ($17.8M), Patek Philippe Henry Graves Supercomplication ($24M)
- Best For: High-net-worth collectors
2. Phillips “The Geneva Watch Auction”
- Specialty: Modern collectibles (F.P. Journe, Richard Mille)
- Notable Sales: Rolex “The Unicorn” GMT-Master ($5.9M)
- Best For: Trend-driven investors
3. Sotheby’s “Important Watches”
- Specialty: Historical pieces (military watches, royal-owned)
- Notable Sales: Einstein’s Longines ($1.5M)
- Best For: History enthusiasts
4. Antiquorum (Geneva)
- Specialty: Independent brands (Greubel Forsey, MB&F)
- Notable Sales: Patek Philippe Calibre 89 ($6.8M)
- Best For: Avant-garde collectors
5. Loupe This (Online-Only)
- Specialty: Affordable vintage (Omega Speedmaster, Tudor Submariner)
- Notable Sales: Heuer Autavia “Jo Siffert” ($25K)
- Best For: Beginners (lots under $50K)
How to Buy at Watch Auctions (Step-by-Step)
1. Research Upcoming Catalogs
- Check auction house websites (e.g., Christie’s Watches)
- Sign up for email alerts on rare models
2. Set a Budget
- Include buyer’s premium (typically 20-30% over hammer price)
- Factor in insurance/shipping costs
3. Verify Authenticity
- Request high-resolution photos and condition reports
- Check for original papers/box
- Research past sale prices (use WatchCharts)
4. Bid Strategically
- In-person: Best for high-stakes lots
- Phone/online: Convenient but riskier
- Proxy bidding: Set max bid in advance
5. Post-Auction Steps
- Arrange secure shipping (FedEx Fine Art service)
- Insure immediately
- Service vintage pieces if needed
Rare Watches Worth Bidding On in 2024
- Rolex “Pepsi” GMT-Master 1675 (Vintage)
- Patek Philippe Nautilus 5711 (Discontinued)
- Omega Speedmaster “Alaska Project” (Prototype)
- F.P. Journe Chronomètre Bleu
- Tudor “Snowflake” Submariner
Red Flags to Avoid
❌ No provenance (missing ownership history)
❌ Overpolished cases (reduces value)
❌ Unverified “matching numbers” (movement/case mismatch)
❌ Reserve price too high (compare with recent sales)
Final Tips for Auction Success
- Attend previews to inspect in person
- Network with specialists (build relationships)
- Start small (bid on sub-$10K lots to learn)
Pro Tip: Follow auction results via Hodinkee for market trends.