Doubts about the potential of online auctions are a thing of the past.
Only a few years ago there was doubt that someone could spend a few thousand euros online. Today, digital auctions are an established reality, and collectors have proven to be at ease even with dizzying figures.
With the “Watches Online: The Dubai Edit” auction, Christie’s breaks the record for the highest total ever achieved in a completely digital auction ($14,120,250), by almost doubling the previous one that they had set last December.
Among the 168 lots for which collectors from all over the world gave battle to each other are two Gerald Genta Grand Sonnerie who have reached figures equal to 10 times their estimates. Also worthy of mention is a very important Patek Philippe 5002P-001 Sky Moon Tourbillon that sold for USD 1,590,000.
The most interesting thing? Neither of them worked!
The Gerald Genta Grand Sonnerie
Let’s rewind the tape a bit, and try to understand the motivations behind these figures.
When Gerald Genta, to celebrate the 25th anniversary of the eponymous brand, unveiled the Grand Sonnerie in 1994, mechanical watchmaking had begun its renaissance.
It was the most complicated wristwatch ever made. The automatic movement (cal. 31000), whose design was led by Pierre-Michel Golay (then technical director and co-founder of the Gerald Genta brand) was composed of more than 800 parts, all assembled by hand.
Among the complications, a perpetual calendar, a minute repeater with petite and grande Sonnerie, a power reserve indicator, a tourbillon, a double time zone and the alarm function.
All the movements show the prestigious Hallmark of Geneva and the signature of the famous designer. The finishing is of the highest level: the bridges of the Tourbillon, for example, have the so-called “black polishing” (or Spéculaire) which consists in creating a mirror surface by hand.
It is believed that about 24 specimens of this model were ever produced. Most of these were unique pieces, with cases and dials made to meet the specific demands of wealthy customers who wanted to add these incredible pieces to their collections.
The auctioned exemplars
The Grande Sonnerie No.1 in platinum had received an estimated $30,000-40,000, and was sold for $500,000. The yellow gold specimen (No.3) reached a figure of 10 times its minimum estimate, and sold for $300,000.
Both watches feature mother-of-pearl dials with luminous indices and the distinctive pyramidal stacked case. These are two ref. G0025.7, which have identical characteristics except for the material of the case and the color of the graphics on the dial.
What about the future?
This incredible result shows the growing attention of the market towards the brand founded by the genius of Gerald Genta, which will surely evolve driven by these results.
All this was possible thanks to the sophisticated digital-marketing strategies implemented by Christie’s and the ability of their platform to reach the widest possible global audience, with 588 participants from 37 different countries.
Do you think these numbers are exaggerated? Or did these collectors anticipate a trend? Let us know yours in the comments!
-Translated by Claudio F.
