Coveted Complexity
Complications—mechanisms that go beyond basic timekeeping—make a watch a work of art. And, from simple calendars to sophisticated tourbillons, more complications means higher prices. Though newly minted watchmakers might be able to service 99 percent of timepieces, these examples are the province of just two or three masters. Tim Bourne, international co-head of Christie's watch department, appraises the lot.
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Patek Sky Moon Tourbillon
Retail: about $900,000.
“The Holy Grail of watchmaking,” Bourne says. “[Patek owner and CEO] Philippe Stern insists that each potential customer be interviewed, to make sure they’re good enough to own one.” When an example came up for auction, Stern put out word that potential collectors should not buy. It ended up unsold. But Bourne has heard of private transactions, with collectors paying up to $1.2 million.
Jules Audemars Equation of Time
Retail: $75,000 to $78,000.
“The equation of time is really a feature that equalizes the effects of the calendar month with the actual, moon-rotating month—there is obviously a slight variation,” Bourne explains. “It’s not really something people are aware of, but it’s been on clocks for many centuries. The watch does appear at auction, generally fetching between $20,000 and $40,000.”
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IWC Il Destriero Scafusia
At auction: at least $200,000.
“When these watches came out 10 or even 15 years ago, they were seen as very big, rather cumbersome, and not very classy-looking,” Bourne says. But watches have gotten larger, and now it fits into the modern spectrum. For a time, they could be found for $100,000 to $120,000, but “now it’s very difficult to get one for under $200,000. Christie’s has the world record, for $330,000.”
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Arena Complications Grand Sonniere
At auction: $150,000 to $200,000.
“At the time, it was the most complicated watch ever made, and I believe there were only 10 produced,” Bourne says. “The $1 million retail price was inflated. It was sold to one or two very wealthy individuals who weren’t focused on putting together the highest-caliber watch collection.” Now the Gérald Genta watches fetch $150,000 to $200,000 at auction.
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Cabinotiers Skeleton Min. Repeater
At auction: hasn’t appeared, but at least $250,000.
“I’ve never seen one in the flesh,” says Bourne of this Vacheron Constantin masterpiece. “I would rate this highly as a collectible piece [only 15 were produced]. None have ever appeared on the auction market, but certainly I think it would bring in excess of a quarter of a million dollars.”
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Jaeger-LeCoultre Gyrotourbillon I
Retail: $280,000 (limited edition of 75 pieces).
“Collectors are very keen to get ahold of one of these—and not just one or two collectors, but a significant number of people. Again, one hasn’t appeared on the auction market, but it would be nice to see how it would perform. It would probably be in the $150,000 to $200,000 range.”
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Breguet Double Tourbillon
Retail: $347,100.
“It’s certainly an unusual and visually interesting watch,” Bourne says. “Like most Breguets, they have a very strong following— [President and CEO] Nicolas Hayek has a wonderful brand. I’m sure it would probably fetch close to the retail price. When collectors are buying these high-end watches, they know production is really small (20 pieces per year), and it’s hard to get hold of them.”
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