Renowned auctioneer looks back on the 2021 winter watch auctions

"Latest News from the Global Watch Market" is a series of articles from webChronos that brings you information on watch auctions held around the world.
This time, Tim Bourne, International Director of the Watch Department at the long-established auction house Bonhams Hong Kong, looks back on the watch auctions held this winter.

2021 watch auctions deliver record results

　December and January are known as the slow season for watch auctions. 2021 has been a huge year for watch auctions worldwide, with record prices achieved at all the major auction houses.

　The frenzied bidding was captivating and signaled a surprising upswing in the watch market as a whole, with demand for rare models and fashion icons coveted by well-heeled collectors rising and a number of new buyers willing to put their money into the market.

　This is due in part to auction houses improving their digital offerings, creating a better experience for bidders and buyers, as well as the rapid growth and adoption of cryptocurrencies, which has allowed entrepreneurs who have made huge amounts of money trading Ethereum and other exotic cryptocurrencies to participate in auctions around the world and make even more money.

　This time, we will introduce some ``relatively ordinary'' models from the watches sold by Bonhams in December 2021, as well as collector's pieces that will be offered at the watch auction in early 2022.

　One watch that caught the eye at the auction in London was a stunning Audemars Piguet Royal Oak Perpetual Calendar Ref. 25686, produced in 1992. Featuring a refreshing blue mother-of-pearl dial, it was one of only 26 examples produced. As you'd expect, there was fierce bidding, and it ultimately sold for US$372,000. While the watch itself showed signs of considerable use, with surface scratches and dents, it was certainly authentic and had been well-loved by its owner.

　Also noteworthy at the London auction were two Rolex watches, one of which was an extremely rare Cosmograph Daytona Ref. 6241. This reference number is rare, featuring a black dial and a 14K gold case. Furthermore, the fact that it bears the name of the family that originally owned it doubled its appeal and desirability, making it a noteworthy piece, selling for approximately US$220,000.

　The other is a more modern Rolex Oyster Perpetual Submariner, Reference 116619LB, affectionately nicknamed "The Smurf" due to its distinctive blue bezel and dial. Although only six years old (at the time of the auction), it was produced in 2015, and is sure to become a highly valuable model in the future, having sold for approximately US$48,000 at this auction. It's a model worth preserving and admiring for your son or grandchildren.

　Also in December, a beautiful Patek Philippe platinum Ref. 5070 was offered at a watch auction in Hong Kong. It had been sealed in the same condition as when it was shipped, so its owner was likely an investor rather than a collector. After fierce bidding, it was eventually sold for approximately US$209,000. The collector's decision to keep the Ref. 5070 unopened was clearly a wise one, as its value has risen dramatically over the past two years.

　Finally, at the Bonhams auction held at the Grand Palais in Paris in February 2022, a watch from Laurent Ferrier, a highly sought-after and highly sought-after brand, was offered for sale. The brand has a growing following and is currently in high demand.

　The tourbillon model with an 18K rose gold case is one of Laurent Ferrier's signature pieces, and the two pieces offered at this auction, along with a beautiful 18K white gold model, attracted a great deal of attention.

　2022, the Year of the Tiger, is sure to be an exciting year for the watch industry.