One of the most exciting aspects of collecting watches is the possibility of unearthing a treasure. Witness the popularity of Antiques Roadshow. People from all over the country flock to the specialists to find out if an old pocket watch found in a drawer is just a sentimental remembrance of grandpa or a valuable object worth thousands—or more.

James Bond Breitling Top Time

Every so often a watch hiding behind the ordinary reveals itself as an important and valuable collectible. That’s what recently happened with a Breitling Top Time made in 1962. It was hanging out in the trunk of a car and was sold for £25 pounds. But this was no ordinary Breitling. It has an exceptional pedigree. Turns out Sean Connery wore it when he played James Bond in the1965 movie Thunderball.

In the movie, Q Branch modifies the watch to contain a Geiger counter to detect radiation. 007 uses it to find two NATO atomic bombs stolen by SPECTRE and save the world. What makes this Breitling Top Time even more special is that it is the very first watch ever modified for Bond to use in his impressive toolkit. That’s right, this Breitling started the Bond watches fascination. Adapted by the art department, it’s the one and only exampled produced for the film, making it even more rare.

It’s hard to put a price on this Breitling Top Time because it belonged to the fictional icon James Bond. And we know how crazy people go for James Bond memorabilia. Remember the Rolex with the buzz saw bezel Roger Moore as James Bond used to escape the villain in Live and Let Die that sold for $243,959?

Christie’s estimates this £25 find between £40,000 and £60,000. The auction takes place in Christie’s Pop Culture sale in South Kensington, London, on June 26, 2013.

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There’s no question watches are a hot category, particularly vintage watches, which have shown a surge in popularity. You know they’ve hit the big time when the Hollywood stars start wearing them out in public. In her movie “Stoker”, Omega partner Nicole Kidman chose an Omega jewelry watch to represent her character’s taste in wrist wear.

Omega Jewelry Watch 1962 Calibre 483

The watch is from 1962 and contains calibre 483. In a 14K white gold case, it’s swathed in 32 brilliant-cut diamonds and eight baguette-cut diamonds. A slender black suede cord bracelet provides a lovely feminine touch, securing the watch without taking away attention from the main event. The dainty yet lovely watch perfectly accents the estranged, unstable mother Evelyn.

At the Christie’s Geneva watches auction in November 2011, this no reserve Omega jewelry watch with Meister dial went for almost $15,000! It shows that not just men’s watches hold appeal but also attractive examples of women’s watches are gaining traction.

Omega realizes the value of vintage pieces and has a museum chronicling the brand’s rich history. For research and inspiration, designers and watchmakers take field trips to soak up the atmosphere and get a real live feel of the watches for their current lines. There’s no reason to completely reinvent the wheel when you can stand on the strong shoulders of forebears that came up with ingenious solutions. Sometimes it’s just a small detail that sparks a big idea.  An example is the DeVille Ladymatic, an automatic watch (like the Calibre 483) created from the ground up just for women and released in 2010. Though a completely new and different model, the Ladymatic gets its name from a watch from the early 1950’s that was the first ladies watch to be officially chronometer certified. It’s been so successful that it outsells the Speedmaster “Moon Watch”.

Nicole Kidman wearing vintage Omega in Stoker

At the top end of the vintage market, prices for marque brands in original and minty condition, have skyrocketed. It takes a good-sized wallet to be in contention for these watches. But don’t despair. There are many lovely and affordable pieces to be had when you look. Take for example another vintage ladies gold Omega or this funky retro ladies watch, both that sold for less than 3K.  Ladies, if you appreciate mechanical watches, take a look at vintage, where you’re sure to find wonderful watches at great deals — and they won’t be on everybody else’s wrist. 

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We are in the midst of auction season and auction is a great place to buy a watch. Since I work at Christie’s, I’m going to give you the lowdown on how the process works here, but it’s probably similar at the other auction houses.

You might be intimidated by the name Christie’s. The grand ol’ house has been in existence since James Christie sold his first chamber pot in 1766. Yep, Christie’s is older than the United States. And I’m sure you see the headlines where Christie’s makes world record prices in a lot of categories, including art and, of course, watches. This means if you’ve got a small budget you can’t afford to buy or sell at Christie’s, right? Nope. I’m here to tell you that Christie’s is not intimidating at all. People like you and me can come in and get the same great experience. Really.

Don’t believe me? Walk into the front of the house and be greeted by some of the nicest people. I swear I sometimes go out of my way to walk in through that part of the building just to get their cheerful smiles. We treat everyone the same whether you’re there for an appointment or just to browse the amazing items coming up on the block. And, I suggest you take advantage of seeing these precious objects of museum quality before they disappear into private collections. We want you to come in and visit us!

Now that you know that we’ll welcome you with open arms, let me tell you why you want to come watch shopping at Christie’s. Yes, we do have the cream of the crop watches that sell for hundreds of thousands or millions. But, here’s the thing. While those showy watches take the headlines, they aren’t the majority of watches that are in the catalogue. We have watches estimated at less than $1,000 to those high flyers and everything in between. You’ve got a whole candy store of watches to choose from representing all the major brands as well as some of the independents and off-the-beaten-path guys. Some examples include Vacheron Constantin, Audemars Piguet, DeBethune, Hublot, Omega, Panerai, Girard-Perregaux, Lange & Sohne, Jaeger-LeCoultre, IWC and Tudor. Not to mention a tasty selection of affordable Rolex and Patek Philippe.

What’s great about auction is that you can potentially purchase your dream watch for a lot less than retail. While it’s true that pre-owned watches don’t pretend to be perfect, the quality is superb and we here at Christie’s are very, very picky. You can be assured we examine the watches carefully and make sure they’re correct. 

It’s time to search for your perfect watch.

WHAT TO DO TO GET STARTED

You’re probably wondering how you find out when the auctions are and which watches are making an appearance. It’s simple. Just go to www.christies.com

• Click on CALENDAR & RESULTS drop down menu
• Click on Upcoming Auctions
• In Filter By Category, check Jewelry & Watches and the dates will come up.
• Click on the Catalogue icon to get the electronic version (catalogues are also available for purchase once printed)

Study the Catalogue

• Yes, I mean really study the catalogue. This is your hard earned cash you’re thinking about spending so educate yourself about the offerings.
• Make notation of the watches that catch your fancy. Don’t let your friends or trends dissuade you from your taste and what you like because you’re the one wearing it. You’re a strong person with a personality of your own.
• Take time to read the descriptions and footnotes. There’s a lot of scholarship and information to glean there.
• Talk to us. Our specialists are watch geeks and nothing makes them happier than to discuss watches.
• Visit watch forums and soak up knowledge about models that interest you.
• Don’t be shy about asking questions, that’s how you learn.
• Select the contenders you’d like to bid on.

HOW TO BID

First you have to register to get a paddle number. You can do that online, on the phone, in the room or leave an absentee bid the day of the sale. We recommend online or on the phone because on the day of the sale it gets hectic. You must make sure you leave enough time (at least 24 hours) to give the bid department all the information they need, such as I.D.’s, bank information and proof of address. It’s best to get all the details squared away in advance so there’s no rush or confusion. Once you’re on file, there are three ways to place a bid and they’re all super simple.

• In the Room: You raise your paddle when the auctioneer calls out the price. If you’re shy, don’t worry, you don’t have to say anything. Just raise the paddle in the air so the auctioneer can see it and knows you’ve claimed the bid. It’s a cool experience to be in the room and vibing off the energy. It’s tons of fun, so if you’re in town, you should definitely be there.
• On the Phone: Yes, we’ll call you once your lot comes up! We ask you if you’d like to bid at a certain price and bid on your behalf. You could be laying on the beach slurping a daiquiri during the process.
• Over the Internet: In real time, enter the sale on a computer in any place in the world and bid on your lot with an easy click. You might be laying in bed or monitoring the sale from your command center at work.

STRATEGY FOR BIDDING

• Know beforehand which lots you are interested in bidding on.
• Pay close attention and follow the bidding. You don’t want to lose out on your dream watch because you failed to bid in time.
• Determine your drop-dead maximum price and don’t go above it. The auction is exciting whether you’re in person, online or on the phone. In the heat of the moment, you could get carried away.

If you follow these guidelines you’ll have won at auction even if you don’t go home with a watch! 

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Chopard. It’s a prestigious name most commonly associated with exquisite jewelry. But, Chopard also makes some killer watches, particularly under the L.U.C. banner. The recently released L.U.C. Perpetual T (T stands for Tourbillon), Chopard’s second most complicated watch in the stable is worth taking a closer look at, but I’ll get to that a bit later.

So why doesn’t Chopard get well-deserved attention from collectors? Because the jewelry out glitters the watches, gracing the bodies of the rich and famous in very public venues. For example, Chopard sponsors the Cannes Film Festival. And while Chopard also sponsors the Mille Miglia and Grand Prix de Monaco Historique car races, they are much more niche outlets without the exposure of the festival.

Clearing the smoke from the hoopla of the jewelry you’ll find Chopard is quite serious about haute horlogerie watches. They invested in a manufacture. Yes, you read that correctly. Not a lot of people know that for the L.U.C. collection Chopard produces their own movement from top bottom as well as cases and bracelets. They don’t use a base from another company. And for the top pieces they meticulously hand finish all the parts. Some have even compared the quality to collector favorite Patek Philippe. Take a look with a loupe and see what I mean.

Nowhere is Chopard’s craftsmanship and technical know-how on display than in the Perpetual T. with its brand new L.U.C Calibre 02.15-L with an impressive 9-day power reserve from just two barrels! Poinçon de Genève for the quality of its craftsmanship,

While I prefer a perpetual calendar that uses apertures instead of dials like the F.P. Journe Quantieme Perpetuel , the L.U.C. Perpetual T does a good job with legibility. On the solid gold dial, the date is in a large aperture at 12:00 o’clock, which was a good choice, because the date is the information that you need most. The day of the week and day/night indication sit at 9 o’clock, while the months and leap year are at 3 o’clock. To keep the dial uncluttered, the power reserve is placed on the back of the watch. Sitting in the traditional place on the dial, the tourbillon with characteristic Chopard bridge completes the circular thematic trifecta at 6 o’clock.

Although in theory a tourbillon is supposed to improve precision, most brands don’t prove theirs do. With the Perpetual T. Chopard has taken that extra step and submitted it to COSC and earned a chronometer rating, which demands precision between -4 and +6 per day. And by adding a tourbillon to the mix (they already have perpetual calendars in L.U.C.), Chopard demonstrates their independence and high complication expertise. I expect the beloved perpetual calendar chronograph combination will be in the mix soon

Chopard has obviously put a lot of effort and expense into building out a manufacture and producing high-end watches. In order to be competitive in the marketplace they need to put more effort into promoting and educating collectors. For now they remain a sleeper brand appreciated by the few in the know.

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If you’re a watch geek you’re probably aware of the unofficial contest between Henry Graves and James Ward Packard of luxury car fame to own the most complicated watch. Graves won competition with a Patek Philippe Supercomplication with 24 functions delivered in 1933. Patek Philippe, along with Vacheron Constantin, was one of the few manufacturers with the guts and technical know how to attempt such complex mechanical timekeepers. You had to be a very special client to request a bespoke piece from the brand. Not just anyone could just walk off the street and ask the firm to make a watch on demand.

It was thought that Packard and Graves were the first to commission complicated pieces, but now a previously unknown pocket watch has peeked its head out of hiding after 100 years of slumber. A delightful grand complication that includes perpetual calendar, split chronograph and grand and petite sonnerie. It belonged to Stephen S. Palmer, an equally accomplished industrialist like Packard and Graves, and dates to 1900! Even Patek Philippe didn’t know the watch existed. In the below video, Aurel Bacs talks about this amazing discovery and its significance.

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Prior to its official introduction at Baselworld, F.P. Journe took the opportunity of all the journalists flocking to Geneva in January for SIHH to debut the second perpetual calendar in the collection, the Quantieme Perpetuelle. The first was the Octa Perpetuelle Titanium produced in a limited edition of 99 in honor of F.P. Journe’s 5th year anniversary of its worldwide boutiques, the first one in Tokyo.

In the Octa Perpetuelle, the feat was adding a perpetual calendar into the Octa case without adding any bulk. Mission accomplished. To put it into perspective, Journe needed to devise a way to place a substantial amount of extra gearing so that the watch could remember our sloppy calendar system with changing lengths in the days of the month. So a perpetual calendar holds 1461 days in its memory, the equivalent of four years. Definitely beats my mental storage capacity.

Octa Perpetuelle 99 Pieces

Where the newly released Quantieme Perpetuel really shines is in its clean and legible dial, one of the best I’ve ever seen. One of my gripes with perpetual calendars in general is their lack of readability. A common design incorporates circular dials and indicators to show the day, date and month, making it difficult to get a quick read of the information you’re seeking. What in theory should be a practical complication becomes impractical in execution.

Disposing of the clutter, Journe uses all apertures for the Quantieme Perpetual for the day and month at 12 o’clock and the date at 6 o’clock. Gearing that stores up energy allows for an instantaneous jump for all the windows rather than a slow change over a period of time. The 120-hour power reserve arc between 8 and 10 o’clock balances out the brand’s signature at 3 o’clock, while the leap year indicator sits unobtrusively under the hour and minutes hands.

Usually perpetual calendars can be a real pain to adjust, needing to employ a tool for pushers on the side of the case. What do you do if you can’t find it? The thing is so small it can easily get lost. Journe’s solution is to handle all adjustments through a three-position crown with the exception of the months, hiding its corrector lever beneath the lug at 1 o’clock — without interruption of the profile of the case. 

Quantieme Perpetuel

In its platinum or 18K red gold case with matching gold dial, the Quantieme Perpetuel comes cased in a 40 or 42mm size. In the watch land of increasing diameters I appreciate the restraint Journe shows and expresses in his classical roots to accommodate smaller wrists and those that prefer a more subtle presentation.

More than just making impressive watches, Journe is a very savvy businessman as well. He manages his brand and collection in a smart way so pieces don’t flood the market. He only makes about 900 watches per year, which is limited by itself when you think that other top-tier brands are constructing anywhere from about 5,000-45,000 pieces in the same time period. But here’s where Journe ramps up the desirability and scarcity of his watches. After creating a new model, he puts the brakes on another. In this case the Octa Calendrier takes its final bow in 2013 to make way for the Quantieme Perpetuel. And, the Quantieme Perpetuel is a worthy successor perhaps even surpassing its younger brother. And, if your heart is set on an Octa Calendrier, might want to get in gear. 

Quantieme Perpetuel

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Prior to World War II when the Russians took over the East German watch industry, Lange & Sohne was a venerable pocket watch maker dating from 1845 in Dresden. Sitting dormant for decades, after the fall of the wall, Lange & Sohne was re-established in 1990 and launched their first ever watch collection in 1994, So impressive were the four watches, the brand managed to immediately rub shoulders with big boys Patek Philippe, Vacheron Constantin and Audemars Piguet. Using the traditional 3/4 plate and gold chatons, Lange & Sohne produced beautiful movements with fine finishing. And, they only produce in precious metals, except for a scant few in stainless steel in the early days, like this Lange 1 that is getting collectors salivating. 

Experts and enthusiasts  immediately responded to the aesthetics and technical feats Lange & Sohne came out of the gate with. The brand continues to innovate and just this year produced their first grand complication. In less than 20 years Lange & Sohne has become a favorite of collectors — truly an impressive feat for such a youngster in the industry. Below you’ll find some characteristics of the brand that make them stand out from the rest.

A. Lange & Söhne was the first brand to perfect and release an outsize date in a series wristwatch in 1994.

Lange & Sohne Outsize Date

A. Lange & Söhne balance spring

A. Lange & Söhne is one of the few watch manufactories that produces its own balance springs. They oscillate in two out of three Lange calibres.

Lange Balance Spring

A. Lange & Söhne three-quarter plate

The three-quarter plate introduced in 1864 to improve the stability of movements formed the German style of watchmaking. It is still the signature of today’s A. Lange & Söhne timepieces.

Lange & Sohne 3/4 Plate Movement

Grand Complication

The most complicated wristwatch ever built in Germany features seven complications: Perpetual Calendar, Chronograph, Rattrapante, Flying Seconds, Minute Repeater and Grand and Petite Sonnerie.  For years collectors had been requesting a chiming watch and waited expectantly for the result. With this introduction, Lange & Sohne went beyond expectations, which tends to be a business as usual at the brand.

Lange & Sohne Grand Complication

Great grandson of the founder, Walter Lange is one of the people responsible for resurrecting Lange & Sohne and is still involved in the company.

Walter Lange

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Though Panerai is now best known for its watches, the company was founded in 1860 and made sea instruments such as the depth gauge and compass. It wasn’t until March 1936 that the Panerai Radiomir prototype got its first field test with the commandos of the Italian Navy deep under the Mediterranean sea. The most important requirement besides being water resistent, of course, was to be legible in the murky waters. Having passed the test, the Radiomir was produced in 1938 in a series of 10 for the naval assault forces, a division of the Italian Navy’s Submarine Command.  

The men in the naval assault forces had to have guts and grit as they rode slow-speed torpedoes, called Siluri a Lenta Corsa (S.L.C.) in Italian, with two operators on the vessel. There were essentially human torpedoes, referred to as “pigs”, doing reconnaissance in freezing muddy waters.

Ever wonder why Panerai enthusiasts refer to Panerais by the acronym PAM followed by a number? PAM stands for Panerai Movement Number. Let’s take a look at some current models in the collection and their history.

PAM 424

The PAM 424 Radiomir California 3 Days is fitted with what was the first ever dial placed on the original Radiomir. With the top half of the dial marked with Romans and the bottom with Arabics, it is referred to as the “California Dial”, a recent nickname within the last 25-30 years. It’s thought that this slang term originated because a California company refinished Rolex Bubble back dials with this design.

The first 3646′s delivered to the military around 1938 did contain some California Dials as well as a later production of the model until about 1944.

The modern rendition, the PAM 424, has the OP logo, the inscription “CALIFORNIA” engraved on the flange at 12 o’clock and a date window at 3 o’clock.

PAM 425

The PAM 425 Radiomir S.L.C. 3 Days with its alternating bar and dot-shaped hour markers also finds its roots in history. Probably created in the 1930′s, it was the first “sandwich” dial, comprised of two plates filled with luminous material that glow through the cut out markers in the upper plate. You now know what the S.L.C. refers to in the name of the watch, which is inscribed on the flange at 12 o’clock, while a slow-speed torpedo is drawn in relief on the dial.

PAM 000

The base PAM 000 contains the classic “OP” logo with one arrow pointing up and one down. Collectors think the arrows represent land and sea. These dial configurations are very prized.

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Rolex 6062

Collectors perk up when these two references appear on the marketplace. What’s so special about them? Let’s take a look.

They are the only models ever made that show date, weekday, month and moon phases. That’s a long time considering Rolex’s history dating back to 1905.

So what’s the difference between the two? Differences become apparent to the keen observer. Both automatic watches, Reference 8171 is in the “non-Oyster” case with a snap on back and therefore not water resistant, while Reference 6062 is in the water-resistant Oyster case with a screw back. Additionally, reference 6062 is the first Rolex to be fitted with the Super-Oyster crown. Reference 6062 is considered by experts to be the most important Oyster model ever produced.

Made in yellow gold, pink gold and stainless steel, references 6062 and 8171 are rare birds, only produced in a small series. And, the scarcer the resource, the more excited human beings get. It’s hardwired into our DNA. And with these two up on the block, there’s sure to be a stampede.

Rolex Reference 6062 lot number 126

This particular reference 6062 is particularly appealing because of its rare star-shaped hour markers giving it the nickname “Stelline” dial. More than just possessing a rare dial, the watch is in a beautifully unrestored condition and has a strong provenance, handed down from grandfather to father to son.

Estimate: $110,000-$160,000

Rolex 8171

Rolex Reference 8171 lot number 127

Like its water-resistant brother, this watch has been carefully tended with the same patriarchal provenance. What makes the reference 8171 so desirable in today’s market is its substantial 38mm sized case, large in its day. As case sizes have grown, the 8171 won’t look tiny on any wrist.

Because of its case shape, the ref. 8171 is called the “Padellone” or “Big Pan” and this one comes in the rare and coveted pink gold case with a silvered sunburst-finished dial, officially referred to as “cadran soleil argent”. 

Estimate: $53,000-$84,000

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Tuesday

8:00PM- Make a deal.

8:15PM- Look for a flight.

11:50PM- Hop on a 14 hour flight to a far off land.

Wednesday

6:00AM- Arrive in a far off land.

7:00AM- Shower at airport lounge.

9:00AM- Meet customer and conclude a deal.

12:00PM- Back at airport.

2:30PM- Taking off for home.

Yes, I’ve done things like this.  So what would motivate a sane person to do this?  Is it THAT special watch?  Sure it is, but more than that, it’s the thrill of the chase.  For many of us, its not only possessing that extra rare or special watch, it’s also the pursuit, the hunt, or the thrill of the chase.  This high can be had (legally of course) either buying from auction, or chasing a watch in the wild.

The Thrill of an Auction

Recently I was fortunate enough to be the winning bidder for (in my eyes) the star lot of the Gordon Bethune sale in December, 2012- The pink gold Rolex ref. 6036 Dato-compax “Jean-Claude Killy”, lot nr. 164.  Estimated at $180,000 to $280,000, all in all it achieved $614,500 a world record price for the reference, and also a world record price for an online bid for a watch.

Crazy?

Hardly…  I had previewed the watch in NYC but was in Tokyo at the time of the sale.  I had been looking for a nice pink gold Killy for some time, and wondered to myself, is this “The One”?  Up all night and with sweaty palms, I followed the auction closely and by the time lot 164 was up for sale, it was around 4AM local time.  In my mind, this particular watch- due to its beauty, rarity and condition was a candidate to break the $1m (million dollar!) mark.  Fortunately for me, when the dust settled, it was mine, and for a little less than I expected.  With a mix of nervousness and excitement, I tried to calm myself down but whom was I kidding.  There was to be no sleep that night.

Did I pay too much?

Did I look closely enough at the watch?

Who pays that kind of money for a watch?!?

Would I be able to sell it?

A couple weeks go by and after payment and shipping arrangements are made, I eagerly await its arrival at my office.  Brinks finally knocks on my door and once the package is in my hands, I rip the box open and carefully peel away layers of bubble wrap until I get to an unassuming little brown leather box.  As  I carefully open it up, a big smile appears on my face.  Just as beautiful as I had remembered.  Scanning for defects or faults, none were to be found.  Just, Wow!

After not seeing something for a while, I am always very critical upon second inspection and my eyes seek out flaws and defects that I had not seen.  This time, there was no disappointment, just pure happiness.  All my worries subsided with a peak into that tiny unassuming brown box.

Keep reading after the pics for more Thrill of the Hunt!

The Thrill of the Hunt

Original photograph from the family of Maj. Griggs

Another recent acquisition after a long hunt, is a very fresh to market Rolex Submariner ref. 6200.   It is one of the earliest model Submariners, having the desirable 8mm “Big Crown”, and the even more desirable “Explorer 3-6-9” dial.  Intrinsically a very desirable watch, what further enhances its desirability to me, is its storied history.  The men of the 3918th Field Maintenance Squadron presented this Submariner to Major James Griggs in 1956.  Major Griggs was a well decorated war hero, and a member of the US Air Force who had a distinguished career flying B-47s and B-52s during World War II, and played pivotal roles in both the Cuban missile crisis and the Korean War.  The first pictures I had seen of the watch made my heart skip a beat and my pulse quicken.  It had to be mine.  I had been “hunting” this watch since 2008 when I first knew of its existence.  After a nearly 5 year wait, I was so thrilled to be finally able to acquire this beautiful relic and testament to the rich history and heritage of Rolex as a tool watch.  Not perfect by any means, but with a glowingly original and rich patina, this is the type of watch that haunts my dreams.

Detail of the caseback engraving.

Epilogue

So as a dealer, do I regret letting go of such beautiful and historic watches?  Not one bit.  I absolutely love these watches and love what I do, but more importantly, I am addicted to the chase and always look forward to the “Next big find.”  It brings me much joy to be able to place these historic relics in the hands of the right collectors who will cherish the watches as much as I enjoyed acquiring them.

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