ROLEX AUCTION

Rolex is a Swiss luxury watch manufacturer founded in 1905 by Hans Wilsdorf and Alfred Davis. The company is based in Geneva and is known for its high-quality timepieces that are both precise and durable.

Wilsdorf and Davis began their partnership in London, where they imported Swiss movements and placed them in quality cases, which they then sold to jewelers, who put their own names on the dials. In 1908, Wilsdorf registered the trademark "Rolex" and opened an office in La Chaux-de-Fonds, Switzerland. He and Davis then moved the company to Geneva in 1919.

In 1926, Rolex introduced the "Oyster" watch, which was the world's first waterproof and dustproof watch. The watch featured a screw-down case back and crown, which made it resistant to water and dust. This was a significant innovation in the watch industry and helped establish Rolex as a leader in watch technology.

Throughout the following decades, Rolex continued to innovate, creating the first self-winding watch with a perpetual rotor in 1931 (the "Perpetual" model), and the first watch with a date function in 1945 (the "Datejust" model). Rolex watches were worn by many famous people, including Sir Winston Churchill and President Dwight D. Eisenhower.

Rolex watches are known for their precision and reliability, and are often associated with success and luxury. Today, Rolex is one of the most well-known and respected watch brands in the world, and is considered a status symbol by many. The company continues to produce high-quality watches, and many of its vintage models have become highly sought-after by collectors.

PATEK PHILIPPE AUCTION

Patek Philippe is a Swiss luxury watch manufacturer founded in 1851 by Polish watchmaker Antoni Patek and French businessman Adrien Philippe. The company is based in Geneva and is known for its high-quality, hand-crafted timepieces that are both precise and elegant.

Patek and Philippe met in 1844 and formed a partnership to produce high-quality watches. They began by creating pocket watches, and quickly established a reputation for producing watches that were both precise and beautifully finished. In 1851, they founded Patek, Philippe & Co., and began producing watches under their own name.

Throughout the 19th century, Patek Philippe continued to innovate and produce some of the most complex and precise watches of the time. In 1868, they introduced the first pocket watch with a perpetual calendar, which was a significant technical achievement. In 1876, they created the first wristwatch with a perpetual calendar, which was also an important innovation in watchmaking.

In the 20th century, Patek Philippe continued to produce some of the most complex and sought-after watches in the world, including the "Calatrava" (1932), "Nautilus" (1976), "Aquanaut" (1997) and "Grandmaster Chime" (2014). Many of their watches are considered as horological masterpieces and sought after by collectors and enthusiasts.

Patek Philippe is now one of the most respected and sought-after luxury watch brands in the world, known for its attention to detail, craftsmanship, and innovation. It is still a family owned business and is one of the last independent Genevan watchmaker. The brand is also known for its slogan "You never actually own a Patek Philippe, you merely look after it for the next generation."

FAQ

Important watches auction?

There have been several high-profile watch auctions in recent years that have set records for the most expensive watches ever sold. Some examples include:

Paul Newman's Rolex Daytona: Sold by Phillips in 2017 for $17.8 million, this watch was owned and worn by the actor Paul Newman and is considered one of the most iconic watches of all time.

Patek Philippe's Supercomplication: Sold by Sotheby's in 2014 for $24 million, this watch is considered the most complicated pocket watch ever made, featuring 24 different functions.

Rolex's Oyster Perpetual Submariner "James Bond": Sold by Phillips in 2020 for $3.5 million, this watch was worn by Sean Connery in the first James Bond film, Dr. No.

Patek Philippe's Ref. 1518: Sold by Phillips in 2016 for $11 million, this watch is considered the most important perpetual calendar chronograph in the world.

A. Lange & Söhne's Grand Complication: Sold by Sotheby's in 2013 for $2.5 million, this watch is considered one of the most complicated timepieces ever made.

 When were timepieces invented?

Timepieces, or devices used for measuring time, have a long history that dates back thousands of years. Some of the earliest known timekeeping devices include sundials, which were used by the ancient Egyptians and Greeks to tell time by measuring the position of the sun in the sky. Water clocks, which were used by the ancient Egyptians, Greeks, and Chinese, were also used to measure time by measuring the flow of water from a container.

The first mechanical clocks were invented in Europe during the Middle Ages. These clocks used a system of gears and weights to power a mechanical escapement, which regulated the movement of the clock's hands. These early mechanical clocks were primarily used in monasteries and public squares to ring bells and signal the time for prayers and other daily activities.

In the 16th century, the invention of the mainspring made portable timepieces possible. The first pocket watches appeared in the 16th century, and the first wristwatches were invented in the late 19th century.

With the development of quartz technology in the 20th century, the production of more accurate and reliable timepieces became possible. Today, timepieces are not only used to measure time, but also as a fashion accessory, and a symbol of status, and also as a tool in many fields such as navigation and sports.

Which timepiece has the most moving parts?

The timepiece with the most moving parts is likely the Patek Philippe Supercomplication, which was completed in 1933. This pocket watch has 24 different functions, including a minute repeater, a perpetual calendar, a moon-phase indicator, and a split-seconds chronograph. It is considered the most complicated timepiece ever made by hand. It has a total of 935 parts, and it took Patek Philippe's chief watchmaker, Henry Graves Jr, more than five years to complete it.

It's worth noting that there have been other timepieces made with even more parts, but those are not considered as "watches" but rather as "mechanical sculptures". These timepieces are made by independent watchmakers, and they are not meant to be worn but rather to be displayed as a piece of art.

Why auctioners talking fast?

Auctioneers talk fast in order to keep the pace of the auction moving and to keep bidders engaged. The fast-paced nature of the auction helps to create a sense of excitement and urgency, which can encourage bidders to place higher bids. Additionally, speaking quickly allows the auctioneer to quickly move through the items being sold, which can help to keep the auction from becoming too lengthy or tedious.

The style of speaking used by the auctioneer, known as "auction chant" is a unique and distinctive form of communication that is used to convey information about the item being sold, the current bid, and the time remaining in the auction. The auction chant is a combination of numbers, phrases, and rhythms that are spoken quickly and repetitively to create a sense of momentum and energy.

Auctioneers are trained to use the auction chant as a way to communicate effectively with bidders, and to keep the auction moving at a fast pace. It's a skill that is developed over time, and it's not something that can be easily replicated.

In summary, auctioneers speak fast to maintain the rhythm.

Importat auctioners for timepieces?

There are several notable auction houses and auctioneers that specialize in the sale of high-end timepieces. Some of the most important include:

Phillips: This auction house has established a reputation for selling some of the most important and valuable watches in the world. They have held several high-profile auctions of watches, including the sale of Paul Newman's Rolex Daytona for $17.8 million, which set a new world record for the most expensive watch ever sold at auction.

Sotheby's: This is one of the oldest and most well-established auction houses in the world, and they have a long history of selling important timepieces. In 2014, Sotheby's sold the Patek Philippe Supercomplication for $24 million, setting a new world record for the most expensive watch ever sold at auction.

Monaco Legend Auctions: This is another well-known European auction house that specializes in the sale of high-end watches and other luxury items in Monaco. They have sold many important timepieces over the years.

Bonhams: This auction house has a reputation for selling a wide range of watches, from vintage pieces to modern luxury watches. They have sold many important watches including the Rolex Submariner "James Bond" worn by Sean Connery on the first James Bond film.

Christie's: This auction house has a long history of selling art, jewelry, and other luxury items, including watches. They have sold many important watches over the years and hold auctions all over the world.

These are just a few examples of the many auction houses and auctioneers that specialize in the sale of high-end timepieces. It's worth noting that many other auction houses also have specialized sales in timepieces, and the selection and reputation of the auction houses may vary by region.

Who is the more important expert on timepieces?

There are many experts on timepieces who have made significant contributions to the field of horology. It's hard to point out just one as the most important expert, but some notable figures include:

George Daniels: He is a British watchmaker and horologist, considered one of the most important horologists of the 20th century. He is known for his invention of the coaxial escapement, which is widely considered one of the most significant innovations in the history of watchmaking.

Philippe Dufour: He is a Swiss watchmaker and horologist, known for his traditional and highly skilled approach to watchmaking. He is considered a master of traditional watchmaking techniques and is considered one of the most respected and accomplished watchmakers of his generation.

Patek Philippe: The company is considered one of the most prestigious and renowned watchmakers in the world, and they have been making watches since 1839. They have created many important and complicated timepieces, and have been responsible for many innovations in the field of horology.

Roger Smith: He is a British watchmaker and horologist, known for his highly skilled and traditional approach to watchmaking. He has been responsible for continuing the legacy of George Daniels and has been considered one of the most important watchmakers of his generation.

F.P. Journe: He is a Swiss watchmaker and horologist, known for his innovative and highly technical approach to watchmaking. He is considered a master of precision and accuracy in watchmaking and has been responsible for many innovations in the field of horology.

Davide Parmegiani's: Today, he is a renowned expert in the field and runs a prestigious boutique in Switzerland, located in the luxurious Via Nassa in Lugano. In addition, he is also the founder of the Monaco Legend Group auction house, which specializes in art, classic cars, and watches. The auction house was opened in 2019, and since then it has become a reference point for collectors and enthusiasts. Despite his success, Davide's passion for vintage watches remains unchanged, and he considers himself first and foremost a super-collector, with a strong interest in the history and evolution of timepieces. As Simon de Burton describes, for Davide, watches are more than just a business, they are a true passion.

How does auction time work?

Auction time refers to the period of time during which bids are accepted for an auction. The length of the auction time can vary depending on the type of auction and the item being sold. Some auctions may have a set length of time, such as a week or a month, while others may have a flexible ending time, also known as a "soft close" or "extended bidding" auction. In these types of auctions, if a bid is placed within a certain time period before the scheduled end of the auction, the auction time is extended by a few minutes to allow other bidders the opportunity to place a higher bid. The auction will close when there is no bid for a specific period of time.

How does auction time bidding work?

Auction time bidding refers to the process of placing bids on an item during an auction. The way bidding works can vary depending on the type of auction and the platform on which it is being held.

In a traditional live auction, bidding typically starts at a pre-determined low price, and participants can raise their hand or call out to indicate they want to bid. The auctioneer will then acknowledge the bid and ask for higher bids until the auction concludes, with the highest bidder winning the item.

Online auctions generally work in a similar way, with bids being placed electronically via the auction website or app. Bidders can place their bid at any point during the auction time, and the current highest bid will be displayed on the site. Some online auctions may also have automatic bidding feature which allows the bidders to set a maximum bid, and the system will bid on their behalf up to the maximum price. If another bidder outbids the automatic bid, the system will automatically bid again up to the maximum bid.

In some cases, the auction will have a "buy it now" option, which allows bidders to purchase the item immediately at a fixed price, instead of going through the bidding process.

In all cases, it's important to read the rules of the auction and understand how bidding works, as well as keeping an eye on the time left in the auction and the current highest bid, before placing a bid.

What watches appreciate in value?

There are several factors that can contribute to a watch appreciating in value. Some of the most important include:

Brand: Watches from well-known and reputable brands, such as Rolex, Patek Philippe, and Audemars Piguet, are more likely to appreciate in value.

Rarity: Limited edition or discontinued watches are considered more rare and can be more valuable.

Condition: Watches that are in excellent condition, with all original parts and no major repairs, are more valuable than those that have been altered or are in poor condition.

Historical significance: Watches that have a historical connection or were worn by famous people can be more valuable.

Complications: Watches with additional features, such as a chronograph, a moon phase display or a perpetual calendar are generally more valuable.

Materials: Watches made of precious metals like gold and platinum, or those with precious gemstones, can be more valuable.

It's worth noting that the value of a watch can also be influenced by market conditions, and what is considered valuable can change over time. Therefore, it's a good idea to do your own research and consult with a professional before making any investment.