Tony & Eric Quoted in HODINKEE’s New York Auction Report
Image credit: Phillips
Tony & Eric were each quoted within Editor and Shop Specialist Logan Baker’s in-depth article ‘All, And I Mean All, My Opinions And Observations From The Year-End Watch Auctions’ on HODINKEE.
In regard to quite possibly the most offense watch of the year, Baker quoted Tony’s thoughts on the $94,500 Submariner “Hulk” reference 116610LV that sold at Phillips:
"Why is this at a live auction? It makes the watch market susceptible to people who either had too much coffee or not enough coffee that morning. If I'm going to travel to New York for an auction, I want to see the big lots go under the hammer. I don't need to sit there for three hours and watch modern Rolex watches go under the hammer and have people roll their eyes when they go for three times what they should be."
When commenting on the subject of increasing interest for pocket watches, Tony stated:
“Wristwatch prices continue to go up, and I feel like coin watches and pocket watches are an example of people understanding where you can still find value in collecting."
Baker quoted Eric Wind on the rise of contemporary Patek Philippe complicated watches.
"A rising tide lifts all boats; everything's moving up because everything is getting more expensive, I don't think they'll go down from here" Wind stated in reference to the performance of such models as the reference 5013R-014.
When asked about Rolex, Wind emphasized the value proposition of The Crown relative to the likes of Patek Philippe and other independents:
"The Newmans I thought did well, they were nice across the board; the John Player Special did extremely well at Phillips. There weren't a lot of high-quality vintage watches in the auctions. The market has dried up a bit in terms of fresh-to-market finds. But I don't see it as soft. I see it as stable and still growing. It feels like vintage Rolex is a great value proposition now, given the values we're seeing on modern and independent pieces. There's now an actual value proposition to buying a great steel vintage Daytona for under $100,000, especially when modern Nautilus and Aquanauts are going so insane."
Read the article in its entirety below:
https://www.hodinkee.com/articles/watch-auction-december-2021-phillips-sothebys
