Celebrating 50 Years of excellence 2024 Achievements
2024 marked a monumental year for Antiquorum, as we celebrated our golden jubilee—50 years of leading the global watch auction market. Since our establishment, we have not only been a trusted arbiter of value but also a dynamic force shaping the horological world. Amidst market evolutions and the rediscovery of timeless treasures, Antiquorum’s journey stands as a testament to resilience, elegance, and a commitment to excellence.
A Market Redefined: Resilience and Emerging Trends
Since the market downturn in 2022, the watch industry has experienced a profound transformation. As is often the case in times of crisis, collectors and investors have refocused their attention on secure, high-value investments—watches that boast enduring design, robust craftsmanship, and long-term appeal. At the same time, there has been a noticeable shift toward distinctive, boldly shaped timepieces that deviate from traditional designs, reflecting a growing desire for individuality. The most exciting development is the emergence of a new generation of buyers—young, grounded individuals who are less inclined to engage in speculative bubbles and more focused on authenticity and lasting value. Their expectations have become clearer than ever: they seek watches that are not only durable and in excellent condition but also stand out, offering a perfect balance of timeless elegance and personal distinction.
Back to Vintage
Vintage watches experienced a remarkable resurgence.
Rare and historic models like the Rolex Zerographe Ref. 3890 sold significantly above their high estimate, here at 212.500 CHF. There is no denying that the Rolex Zerographe (also known with an observatory dial as the Centregraph) has remained one of the biggest mystery and one of the most important watches made by the firm. Featuring a fly-back second that is reset by the pusher at 2 o clock, it is the first known Rolex featuring this complication and was only available in steel.
The iconic fresh to the market Patek Philippe Ref. 1463, celebrated for its technical brilliance, drew enthusiastic bidding. Meanwhile, the Rolex Cosmograph Daytona Paul Newman Ref. 6241 reached an impressive hammer price, highlighting the enduring allure of craftsmanship from a bygone era. Made mostly for the US market, the 6241 was only produced for a period of three years featuring pump pushers and the iconic black bezel. Scholars estimate that in total about 2250 pieces were produced but 14k versions represent approximately only 400 pieces. Versions fitted with a Paul Newman dial probably represent about 10 percent meaning about only 50 pieces were ever produced which explains itw as hammered at 200’000 CHF.
Similarly, the Rolex Daytona Ref. 6263, valued for its blending of classic design with functional elegance, achieved results that exceeded expectations, underscoring its status as a collector’s favorite.
Elegance Beyond Time: A Focus on Provenance and Design
True elegance lies in the ability to transcend fleeting trends, and Antiquorum has consistently curated timepieces that stand as hallmarks of this principle. A striking example is the Blancpain Fifty Fathoms 50th Anniversary Ref. 2200A, whose historical significance and engineering precision pay homage to the origins of professional diving watches. This piece performed exceptionally well at auction, sold at 107.584 EUR (twicer than the high estimate), reinforcing its status as a milestone in horological history. Former property of Bob Maloubier himslef, this watch was part of the watchmaking and human history.
Talking about provenance, equally captivating, the Vacheron Constantin former property of Jerry Lewis (March 16, 1926 – August 20, 2017) fetched a strong result, with collectors valuing the legacy of the manufacture and of “The King of Comedy ».
Cartier: The Rising Star
Antiquorum’s relationship with the maison dates back to 1996 with the landmark auction, The Magical Art of Cartier, cementing Cartier’s place in horological history. Today, collectors are drawn to Cartier for its perfect amalgamation of history, artistry, and timeless design.
Cartier’s revival in recent years has been nothing short of phenomenal, driven by a renewed appreciation for its unique blend of historical significance, artisanal craftsmanship, and timeless design. Key milestones in this resurgence include the strong performance of iconic models like the Cartier Bamboo Jumbo, which achieved five time its high estimate at 50.000 CHF, in November 2023, surpassing a world record at the time.
In 2024, the Cartier Crash, a perennial favorite, epitomized design audacity and collectability, presented in Hong Kong was sold for 2.000.000 HKD. In Geneva, during the November auction, an extremely rare platinum CARTIER/ EUROPEAN WATCH & CLOCK CO. “GOUVERNAIL”, skeleton and setted with baguette diamond indexes achieved CHF 162,500. Made from the 1940’s until the 1950’s, the Cartier Gouvernail has long been an iconic model made by the firm. The huge majority were made in yellow gold, the versions in platinum featuring baguette diamond indexes are extremely rare, in fact as of today only four examples are known. This example is the fifth known and has never been offered on the market which explains the thrilled atmosphere for the biddings.
These results underscore a broader trend where collectors increasingly value Cartier’s fusion of heritage and innovation, making it a centerpiece of modern watch collecting.
Shaped Cases: Designers watches & « Bubble is back »
Following the rise of shaped cases with iconic models like the Nautilus, Royal Oak, and Aquanaut, the spotlight has now shifted to the Vacheron Constantin 222 and the Rolex Midas. These timepieces represent the next chapter in the evolution of unique, geometrically daring designs that continue to captivate collectors and enthusiasts alike.
For instance, the Vacheron Constantin ref. 4200H/222J-B935, HISTORIQUES 222, launched in 2022 as the successor of the original reference 44018 from the seventies, featuring the same iconic case and layout went out at 50.000 CHF.
On a more modest scale, Antiquorum takes pride in offering watches for all types of collectors, emphasizing that no collector is too small. For younger collectors, certain pieces are beginning to stand out, such as lot 106 from the November auction: a Rolex Ref. 2784. While this Oyster Junior Sport was available with a variety of dials, it is likely that this particular version, with its stunning and entirely original three-tone dial retailed by Beyer, is one of the most attractive ever seen. It’s no surprise that it sold for three times its lower estimate.
Technical Brilliance and Artistic Craftsmanship
Antiquorum has always celebrated technical milestones and artistic craftsmanship, distinguishing itself from other auction houses through a meticulous focus on provenance, detailed scholarship, and a dedication to educating the collector community.
Know-How in Movements: Pioneering World Time
The extraordinary creations of Louis Cottier’s (1894 – 1966) world-time watches system invented in 1935, such as the Patek Philippe Ref. 2523, reached impressive hammer prices, with one example selling for CHF 1,910,000, well above its low estimate. Similarly, the Patek Philippe Ref. 605 HU Cloisonné, unknown, fresh to the market example, the first example known to the market featuring an enamel cloisonné dial representing the world in pink gold, a historcal piece celebrated for its exceptional craftsmanship and artistry, achieved CHF 3,050,000. These groundbreaking designs, which announced the modern concept of world time, remain unmatched in their combination of technical precision and aesthetic appeal.
On a more contemporary note, two exceptional timepieces from F.P. Journe and Richard Mille have undoubtedly captured the attention of watch enthusiasts. The F.P. Journe Tourbillon Souverain Ref. T in platinum and the Richard Mille REF. UP-01 Ferrari, an ultra-thin limited edition of just 150 pieces, crafted in titanium, are truly remarkable watches that cannot go unnoticed.
The Tourbillon Souverain holds a special place in F.P. Journe’s legacy. Apart from the first 20 “Souscription” Tourbillons produced by Mr. Journe, the Tourbillon Souverain was his first commercially available model, debuting at Basel in 1999. It was equipped with the renowned remontoir d’égalité mechanism. Produced until 2003, when it was succeeded by the updated version, the “Remontoir d’Egalité avec Secondes Mortes,” this early example, dating from 2001, is the 91st watch ever made. Originally purchased by a Swiss collector, the piece has been meticulously maintained in excellent condition, with crisp hallmarks still visible. It is also fitted with the highly coveted yellow dial, a feature preferred by collectors worldwide. This exceptional example was sold for CHF 475,000 in the Geneva May auction, a testament to its enduring appeal and rarity.
Meanwhile, Richard Mille’s collaboration with Ferrari led to the creation of the RM UP-01 in 2021, a watch that redefined the boundaries of ultra-thin design. After over 6,000 hours of research, development, and testing, the final product emerged at an astonishing 1.75 mm thick—making it one of the thinnest mechanical watches ever produced. The RM-UP01 features a baseplate and bridges crafted from Grade 5 titanium, along with a patented ultra-flat escapement and a variable inertia balance wheel, developed in collaboration with Audemars Piguet. Upon its release, the watch captivated collectors and enthusiasts around the world, and all 150 pieces quickly sold out, solidifying its desirability. This horological masterpiece fetched CHF 1,730,000 at auction in November, underscoring its exceptional craftsmanship and innovation.
Automaton Masterpieces: The Prophet Moses
One of the most captivating results was Charles Ducommun’s “The Prophet Moses”, an automaton which was allegedly given as a gift by Empress Eugénie of France, wife of Napoleon III, to Field Marshal Lintorn Simmons. This masterpiece, celebrated for its intricate mechanical ingenuity and regal provenance, fetched CHF 380,000, significantly surpassing its high estimate of CHF 250,000. Its association with Empress Eugénie added a unique historical allure, drawing fierce competition among collectors and ultimately securing its place as a standout auction highlight.
Enamel Work: Artistry at Its Peak
Antiquorum’s offerings of enamel masterpieces underscored the art’s enduring allure. The Patek Philippe Nymphenburg Porcelain Ref. 1660M achieved remarkable results, showcasing the intricate beauty of hand-painted designs. Similarly, the Patek Philippe Ref. 866-71 “La Calèche”, featuring enamel work by Suzanne Rohr, demonstrated the pinnacle of métier d’art craftsmanship, blending technical expertise with artistic expression.
Following the two recent world records set by Antiquorum for Suzanne Rohr pocket watches—Romanshorn by J.J. Wetzel (November 5, 2023, Lot 365) and Woman with a Water Jug by Vermeer (May 7, 2022, Lot 200)—we were thrilled to present another remarkable, previously undiscovered masterpiece by the renowned enameller Suzanne Rohr. This piece was consigned by the original family who had preserved it in their safe for the past 30 years, as evidenced by the pristine and crisp hallmark on the bow, as well as the gold case that has developed a warm patina from years of untouched preservation.
The enamel scene depicts a horse-drawn carriage with two ladies and three gentlemen, inspired by the original painting La Calèche by Horace Vernet (circa 1814). Suzanne Rohr’s extraordinary skill is on full display, capturing the essence of an afternoon sky with exquisite detail, from the foliage and the spokes of the wheels to the horses’ flowing manes and the intricate reins. It is worth noting that while Mrs. Rohr often created works inspired by the same artist, this is the only known pocket watch featuring an enamel scene inspired by Vernet’s work. The bidding soared to an impressive CHF 268,750, a fitting tribute to the piece’s rarity and artistic value.
In another example of the growing demand for “Métiers d’Art” and particularly enamel masterpieces, the unique porcelain Patek Philippe Dome Clock Ref. 1660M, Nymphenburg Porcelain, was presented in superb condition and stands as a stunning example of the brand’s renowned, intricately enamelled dome clocks. Highly sought after by collectors, Patek Philippe’s dome clocks are celebrated as one-of-a-kind works of art, each hand-decorated by leading contemporary enamel artists. These rare timepieces rarely appear on the open market, showcasing Patek Philippe’s exceptional blend of modern technology and traditional craftsmanship. This extraordinary clock fetched CHF 106,250 at auction, underscoring its status as a true horological masterpiece.
Hard-Stone Dials: Rare Elegance
Hard-stone dials represent a pinnacle of craftsmanship in the watchmaking industry, as their production is particularly challenging—most of the dials are prone to breakage during the assembly of the wristwatch. As a result, watches featuring such dials in excellent condition are extremely rare, making them highly coveted by collectors.
The growing appreciation for hard-stone dials has been clearly evident over the past two years. In 2024, this trend was highlighted in our auction, with notable pieces such as the Rolex Day-Date Ref. 18038, featuring a lapis lazuli dial. This watch performed exceptionally well, selling for twice its low estimate at CHF 30,000. Even more remarkable was the Rolex Daytona Ref. 16589, with its striking sodalite dial, diamond indexes, and a sapphire-set bezel. This particular reference is distinct from the later diamond-set Daytonas commonly found under Ref. 116589. The Ref. 16589, powered by the Zenith movement, dates from around 1998. Purchased new at Asprey London, as confirmed by the original warranty, this example has been kept in pristine condition, showing only light scuffs from wear. The hallmarks are deep and crisp, indicating that the case has never been polished, and the original caseback sticker remains intact. The combination of the rare sodalite dial, baguette sapphire bezel, and its provenance as a piece sold by the prestigious retailer Asprey makes this reference one of the most sought after, further increasing its desirability.
2024 and Beyond: A Legacy of Excellence
As we reflect on five decades of achievements, Antiquorum remains steadfast in its mission to curate, preserve, and celebrate the finest timepieces the world has to offer. From vintage treasures to groundbreaking innovations, our legacy is one of passion, precision, and an enduring commitment to the art of watchmaking. Here’s to the next 50 years of defining and refining the horological world.