Buying Time

All eyes are on the record-breaking auction prices some watches can reach. MELAINNE CHIEW goes behind the scenes at auction to discover the action-packed appeal, irresistible headlining stars and latest trends

- Melainne Chiew

OURS IS a society that often glorifies new debuts, with the latest fad barely in the spotlight before the next big thing comes along. Things are no different in the world of watches, which rides on the mint appeal of up-and-coming innovations, new aesthetics and never-before-seen movements. However, sharing this pedestal in equal — or bigger — measure are rare vintage pieces from history: In recent years, these true showstoppers made headlines, fetching outrageous prices at auction.

“At auctions, especially reputable ones, one can explore extremely fine and rare museum quality timepieces that are often well preserved and in great condition. The saleroom also boasts an exciting atmosphere, with bids pouring in from all over the world, simultaneously on the telephone, in the room and online,” says Thomas Perazzi, head of watches at Phillips Asia.

Spectacular Stars

In the past 12 months especially, a steady slew of watches, from vintage to brand new, has secured jaw-dropping at auction prices. Among this year’s biggest auction stars is the A. Lange & Söhne 1815 ‘Homage to Walter Lange’, created just for charity. Cased in stainless steel, an accessible material almost never used by the high horology brand, the mythical creation sold for a spectacular 852,500 Swiss francs (nearly S$1.2 million).