Prices for vintage luxury timepieces have experienced a meteoric rise in recent years, fuelled by record-breaking auction results, leading to an explosion of the pre-owned watches market. A sector once considered niche has emerged as a multi-billion dollar industry worldwide, reflecting a burgeoning demand for such timepieces. Alexandre Bigler, head of watches for Asia-Pacific for Christie’s, says, “The vintage market is super exciting, and has been growing in Asia since 2010 … [Buying a watch is] not only about how much money you have; it’s about your knowledge, your expertise, your patience to wait, your hunt, looking around, going to preview around the world meeting collectors. So there’s a whole community out there.”
One of the biggest records for a pre-owned watch was set in 2021 at the Phillips Geneva Watch Auction, where a pristine Rolex Daytona Reference 6263 Paul Newman sold for US$17.8 million, making it the most expensive watch ever sold at auction. Another stunning record was set in 2022 at the Phillips London Watch Auction, where a Patek Philippe reference 1518 in stainless steel realised approximately US$7 million, setting a new benchmark for the brand. Such astronomical public sales help fuel the skyrocketing prices for vintage luxury timepieces.
Unfortunately, the desire for older pieces and the hype around skyrocketing values has spawned an increase in “Frankenwatches”— supposedly vintage watches that are cobbled together using a mix of original and aftermarket parts. A popular strategy is to take an inexpensive vintage case and dial and pair them with a modern, high-grade Swiss movement.
Esta historia es de la edición November 2023 de Tatler Singapore.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 2023 de Tatler Singapore.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
A Family Jewel
Fanty Soenardy unveils the crowning jewel of her vault-a Chaumet tiara that she dreams of passing down to her daughter on her wedding day
GROWTH MINDSET
Three women entrepreneurs share their smart habits to managing money and growing wealth—and doing so meaningfully with purpose
A Classic Redefined
Through the organic beauty of wood veneers, Steinway & Sons' limited edition Masterpiece 8X8 explores an alternative to the established aesthetic of pianos
Oak Artistry
Born of a collaboration with contemporary circus producer Cirque du Soleil, Vibrant Oak, the fourth release in The Macallan's Harmony Collection, pays homage to the Scottish whisky house's rich history with oak and the sherry-seasoned oak casks central to its heritage
Full Potential
Philippine tourism is buzzing with activity, and Christina Garcia Frasco is at the forefront of it all
Live & Learn
When Anthonia Hui and Leonardo Drago still lived in Hong Kong nearly three decades ago, they came across a beggar on the streets. “Just as I was about to pull out my wallet, Leo held my hand and said, ‘How do you know he’s not scamming you?’”
Hip to Be Square
Patek Philippe launches Cubitus, its first new collection in 25 years, in Munich, Germany, debuting three sporty and elegant watches By Annabel Tan
Marine Wonders
Rolex's Perpetual Planet Initiative and Mission Blue join forces to support the conservation of Indonesia's island paradise of Nusa Penida and its magnificent biodiversity
Deep Purpose
Rolex champions environmental conservation through its Perpetual Planet Initiative, which supports ocean-focused organisations such as Sylvia Earle's Mission Blue and Titouan Bernicot's Coral Gardeners
Grand Designs
When it comes to grand touring, few carmakers can boast the storied history of Maserati, which has been producing vehicles that embody grand touring's golden era, which originated in the mid-20th-century, for more than 75 years.
