The results of the Geneva watch-auctions (Phillips, Christies & Sothebys etc) are in with some interesting details -- not so much surprising, but interesting. We have seen high but overall not so exciting (to not say disappointing) price-points for the two top-dogs of the last decade: Patek & Rolex. Overall it seems like the market is at the (over-)saturated end of a trend -- with prices directly under the roof and no perspective left over and so no positive surprises at all. This was expectable with sky-high estimates and thousands of very similar pieces in redundant and rather un-important collections (*klikk here to see important vs expensive collections) sitting and being shuffled in an un-inspired rondo over years.

One series that surprised often were the FPJournes -- a star for the last years already but obviously not at the end of its trend yet. Several others came up with very positive surprises as well -- maybe worth a discussion in a later post.

The Rolex King Midas ref3580 (2nd series!) sold by Christies came in at >CHF73'000 (estimate CHF20 - 40'000) which is a good and fair value for a very good condition and a "full set" (although no outer boxes and inlays); but in the end it is a 1975-made (1978-sold) 2nd series ref3580. It is a wonderful watch but for the collector it behaves to the 1st series Rolex ref9630 like a Mercedes W124 500E to a 200E: the product looks similar in many aspects but it is simply not the same thing.

And yes, ladieswatches have a good time ahead as indicated by the strong results for Ladies-Pateks & -Piagets -- and who is surprised: the value for money in the vintage ladieswatches is so high and accounted against much rarer, exceptionally high-quality watches. To find a comparable bargain in men-watches is a very complicated task...

But there was more and two streams have been very strong: pocketwatches (esp. MinuteRepeaters by Patek & Gubelin) and the asymmetric Gilbert Albert-Pateks (ref3266 Ladies @ Christies & ref @ Phillips). Both are in general very special pieces with almost unique-character after almost 100y / 60y. Needless to say, they meet our taste; and there is tremendous value in these esp when compared to hyped APs, Pateks or many Rolex -- rarer, of at least comparable quality, less herd and much more special. What else could you ask for? Ah, the question remains, why the ladies are lagging so much behind and the similar special & high quality Gilbert Albert-watches by Omega are still sleepers.

For example when we compare the wonderful auctioned Patek ref3266-102 to the Omega Fulvia Mailles d'Or or the Omega Secret MatchStick then we see: the quality of the Patek is in no sense better and we find several aspects where it doesnt even meet the Omega-quality. Anyway, things need time to be understood and to develop and so that valuation-difference might close in future. The taste & trend for gold is just starting and will stay for the years ahead and overall we can see that old trends are coming to an end and new arise, opening the space for new discoveries & discussions; for new desires & dreams.