Timepiece Tuesday: Christie’s, Patek Philippe, Tag Heuer, Ulysse Nardin, Breitling, Philip Stein and Oprah

Christie’s Sets Record for Watch Sales Led by Patek

With its final auction of the fall season on December 14 in New York, Christie’s International wrapped up a record-breaking year for fine and rare watches that realized $91.2 million in total sales—the highest annual total ever achieved for watches by the global auction house. Every watch sale hosted at Christie’s salerooms in Dubai, Hong Kong, Geneva and New York achieved sell-through rates above 90 percent by value. The top watch of the year was a Patek Philippe Reference 1527 manufactured in 1943 that sold for a record $5.7 million at Christie’s Geneva (pictured). In fact, it was great year for Patek Philippe, as the top seven watches sold in 2010 and the top nine out of ten watches sold for the year by the auction house were from the Swiss luxury watch brand. Christie’s top four Patek watches sold for more than $1 million. “We have welcomed in a wealth of new collectors to this field in the past year, and witnessed an exponential growth in buyer participation from Asian countries, led primarily by mainland China and Hong Kong,” said Aurel Bacs, international head of Watches at Christie's. “At the same time, established collectors from the private, trade and institutional sectors in Europe and the U.S. continue to add great depth and strength to this category.”


TAG Heuer, Parsons, Name Watch Design Winners
TAG Heuer and Parsons The New School for Design today unveiled the winners of the “Art of Watchmaking,” a 10-week competition that charged eight teams of Parsons product design students with reinterpreting TAG Heuer's classic Monaco chronograph. Each member of the three teams will receive a monetary prize and a Tag Heuer timepiece. In addition, TAG Heuer has the potential to produce one of the first-place designs as a limited-edition piece. During the review, each of the student teams showcased three concepts, and discussed their inspiration, target consumer and design philosophy. Ideas ranged from a Monaco with a rotating case to designs inspired by the New York City transportation system. First-place honors went to the team of Yong Yi Lee, Yoav Menachem and Amit Ran, whose designs included numbers to appeal to collectors (top photo); second-place honors went to the team of Enrique Diaz Rato de Zabala, Michelle Organ and You Jin Sung, whose designs included a black ceramic timepiece with neon accents (second photo); and third-place honors went to the team of Yusuke Sekiguchi, Christopher Beatty and Helen Kim, whose designs included a piece with naturally grown crystals in its dial (third photo). Read more about the design competition here and here.

Ulysse Nardin Opens First U.S. Boutique, Announce Plans to Build U.S. Headquarters

Ulysse Nardin, opened its flagship boutique in the United States at the Boca Raton Town Center Mall on December 16 with a ribbon-cutting ceremony and celebration attended by more than with 400 people, including famed baseball pitcher Randy Johnson. The luxury watch brand partnered with Bobby Yampolsky of East Coast Jewelry to open its first boutique in the U.S. The nautical-inspired store has more than 80 of the brand’s timepieces, including three models from the limited edition Boutique line. Following the ribbon cutting ceremony, Ulysse Nardin announced plans to open a 7,000 square foot U.S. headquarters in Boca Raton in the spring of 2011. This facility will be the company’s only repair center in the U.S. and will include up to 10 fully Swiss-trained watchmakers. The Swiss company manufacturers 20,000 watches per year, priced from $5,900 to $1 million.

Philip Stein is an Oprah Favorite

The Limited Edition 25th Anniversary Oprah Watch by Philip Stein was featured on the Oprah Winfrey Show's recent episode of “Oprah’s Favorite Things.” It was third time the Miami, Fla.-based watchmaker and retailer was featured on the annual Favorite Things show. However, it is the first time the company designed a watch just for the show. The signature dual dial watch has an applied silver letter “O” celebrating the television star, philanthropist and businesswoman. Philip Stein designers carried the theme further with applied silver numbers “2” and “5” commemorating Oprah’s 25th anniversary. Limited quantities of the 25th Anniversary Oprah Watch, available in a diamond style with a total carat weight of more than one carat, and a non-diamond style, are being offered to the public through select retailers and online. and interchangeable straps. Each watch comes packaged in a custom designed box featuring the Oprah 25th Anniversary logo.

Breitling Opens First U.S. Boutique

Swiss luxury watch brand Breitling opened its first U.S. store in New York on East 57th Street. Breitling watches retail from $1,000 to $300,000, and 90 of the brand’s latest models will be available for purchase at the store.

Timepiece Tuesday: Christie’s, Antiquorum Auctions; IWI 'English' Watches; Mayors Opens Rolex Store

As I write, the Christie’s “Important Watch” auction in New York had just ended. It was the last auction of the year for the international auction house and judging from the early results, some people will be receiving some spectacular holiday presents.

The evening’s stunner was a limited-edition “Kanthara” diamond-set wristwatch from Piaget (above) that sold for $602,000, double its high estimate. The 32 mm wide watch has nickel-finish signed watch is literally covered in diamonds, including a dial set with baguette-cut diamonds, oval case enhanced by emerald-cut diamonds, diamond-set crown, 18k white gold Piaget bracelet and hidden clasp set with emerald-cut diamonds.

Other highlights include:

A Breguet (Reference 3857) limited-edition platinum minute-repeating tourbillon wristwatch sold for $434,500, well above the high estimate of $350,000. It was produced in 1997 to commemorate the 250th anniversary of Abraham Louis Breguet, who invented the tourbillion, which counteract the effects of gravitational pull on timepieces.

 

Patek Philippe had seven of the top ten sales for the evening, according to early results. Among them was a stainless steel chronograph watch with Breguet numerals that sold for $386,500 (left), above the high estimate; an 18k gold perpetual calendar chronograph watch with phases of the moon sold for $314,500; and an 18k gold perpetual calendar chronograph that sold for $266,500. More to come.

Antiquorum Auction

On Dec. 8 Antiquorum held its final watch auction of the year, featuring a FP Journe set of six platinum watches with champagne dials that sold for $200,500 and a white gold “Double Tourbillon 30 Vision” watch (left) that sold for $160,000.

IWI M1

British Watches

There are quality watches made outside of Switzerland. A case-in-point is IWI, a new luxury sports watch brand headquartered in Lancashire, England. Calling itself a “truly English brand,” the company is headed by watchmaker Ian Walsh. Studying Classic Horology at Manchester and later working with Tag Heuer, Walsh said it was while working with vintage timepieces that he realized that he wanted to recreate classic designs. The IWI stainless steel watches pay homage to motorsport. The watches contain Swiss automatic movements and The IWI signature crown is situated at 12 o’clock. Walsh says the classic dials inspire the glory days of auto racing.

Mayors Opens Rolex Store

Just in time for Christmas, Mayors jewelers opened its first dedicated watch store in Orlando, Fla. Called “Rolex Presented by Mayors,” the new store is located in the Mall at Millenia. More than 300 luxury timepieces are on display in the 1,100-square-foot space. The store is Mayors' second retail location in the mall.

Timepiece Tuesday: TAG Heuer, Milus, Swatch

Tag Heuer 18k gold Carrera automatic chronograph up for auction at Bonhams

* TAG Heuer continues to celebrate its 150th anniversary with an auction and student design competition

* Milus Throws a Party

* Swatch Looks Back with its New Collection
* Magazine article questions the future of the wristwatch 

Bonhams to Auction Rare Heuer Watches
The sale of the “Haslinger Collection” of fine and rare Heuer watches will take place December 15 at Bonhams New Bond Street, London. The auction house is working in partnership with TAG Heuer for this sale to celebrate the watch brand’s 150th anniversary.

This museum-quality single owner collection comprises more than 100 lots, including iconic models such as the Silverstone, Autavia, Carrera, Daytona and Monaco. Many are new-old-stock. The watches range in value from £1,500 to £15,000 ($2,355 to $23,556).

TAG Heuer also created a watch for this auction, based on the newly launched Silverstone model and the dial. It incorporates Jack Heuer's signature. All proceeds will be donated to the Green Cross International charity. Arno Haslinger will also donate his original Silverstone to this cause and Bonhams will add a further 20 percent to the hammer price.

View more photographs and information.

TAG Heuer, Parsons Student Watch Competition
Swiss luxury watch brand TAG Heuer and Parsons design school in New York are hosting a competition called the “Art of Watchmaking,” where product design students will reinterpret the iconic Monaco Automatic Chronograph, while learning the intricacies of haute horology.

The eight-week competition combines student collaboration in the design studio with mentorship from TAG Heuer master watchmakers, culminating in the selection of three winning timepiece designs and the potential for TAG Heuer to produce the top design as a limited-edition piece. Many aspects of the timepiece are open to interpretation. However, students cannot alter the distinctive shape of the Monaco’s case.

The general public will be able to vote for its favorite creation on TAG Heuer’s Facebook page. Awards will be given in mid-November to the first, second and third-place winning teams.


Milus Celebrates its Arrival in Spain
Swiss luxury watch brand Milus hosted an event at the Palacio de Fernan Nuñez in Madrid to celebrate its arrival in Spain. The September 30 event was attended by 230 retailers, journalists, timepiece aficionados and collectors.

Milus unveiled its timepiece and accessory collection, including the Tirion Répétition Minutes, the Tirion and Merea TriRetrograde lines and the cufflinks with the 360°displayed in showcases placed in midst of the guests throughout the halls of the ancient palace for an up-close and highly personal view.

Notable guests included Remedios Cervantes, actress and former Miss Spain (pictured wearing a Milus Merea TriRetrograde), David Meca, swimmer and TV presenter, and Lorena Van Heerde, model and former Miss Spain.



A Large Colorful Collection from Swatch
The Swiss watch giant has gone retro by introducing a new men’s watch collection based on its legendary Swatch Gents Original. 

More information.

Who Wears Watches Anymore?
This is the question posed by The Atlantic magazine as it questions the future of wristwatches in an increasingly digital world.

New Watch Releases from Girard-Perregaux, Hublot, Tag Heuer, Seiko at Baselworld 2013

Girard-Perregaux Constant (Force) Escapement

These watchmakers have unveiled what they claim are new innovations in the Swiss watch industry. I can’t tell you how many times a watch brand has made a claim of creating something completely new or whether that function or design detail has any real value.

However, this elite group of brands can certainly back their claims and I believe they have succeed in doing that with products that are listed below.

Girard-Perregaux Constant (Force) Escapement (top photo)
It’s not often that one experiences a horological breakthrough but this may have been in the case at the Girard-Perregaux booth during Baselworld 2013. It is about as a complicated as a complication can be but in short the Swiss luxury watch brand has created a way to provide constant energy to the balance (regulator) wheel. The brand describes the solution to this problem as the “holy grail” of watchmaking.

What this means that there is no revving up or slowly down the rate of speed of a watch, which is typical in the operation of a mechanical watch. For example, when first winding a watch the movement sometimes works at a faster than normal rate of speed. As the watch loses power its speed diminishes until it slowly stops or is manually wound again. The solution created by Girard-Perregaux keeps the watch at constant and consistent regulated speed throughout this cycle.

This breakthrough (if indeed it is a breakthrough and time will tell) uses a 14 micron silicon buckled-blade, six times thinner than a human hair, which acts as a way to provide a repeated pulse to two escape wheels at a rate that is constant and consistent. This in turn provides the same consistent force of energy to the balance wheel. It beats at the frequency of 3 Hz or 21,600 vibrations per hour.

It is a bit more complicated than my explanation. There are detailed stories of how this process works at Hodinkee and Revolution that include Girard-Perregaux videos.

The operation of the escapement and its butterfly-shaped wing frame is clearly visible on the lower half of the dial. The hours and minutes occupy a sub-dial off-centered at 12 o’clock. This is flanked by two energy reservoirs in the shape of double barrels. The power reserve indicator is placed at 9 o’clock.

Tag Heuer Carrera MikroPendulumS
The Swiss luxury watch brand explains this as the first ever magnetic double tourbillion. Two magnetic pendulums replace hairsprings: one is for telling time and the other for timekeeping. The watch chain turns at 12Hz and its chronograph chain turns at 50Hz (60-minute power reserve). The chronograph tourbillon, the world’s fastest, says the watch brand, controls the 1/100th of a second, beats 360,000 an hour and rotates 12 times a minute.

The case is forged from a chrome and cobalt alloy used in aviation and surgery. It is biocompatible, harder than titanium, easier to shape and as luminous as white gold. The case design, with its stopwatch-like placement of the crown at 12 o’clock, is based on the 2012 Aiguille d’Or winner, the TAG Heuer Carrera Mikrogirder, and the Carrera 50 Year Anniversary Jack Heuer edition. The two tourbillon pendulums and their solid rose gold bridges (18K 5N) are visible through the fine-brushed anthracite dial. The hand applied “100” at 12 o’clock is in solid rose gold. The chronograph minutes counter is at 12 o’clock, chronograph seconds at 3, and the chronograph power reserve at 9. The 1/100th of a second scale appears on the silver flange.

Hublot Big Bang Unico Chrono
This is the first in a new line of products designed to house all future incarnations of the Unico movement. The iconic design of the Big Bang has evolved to contain the Unico, an in-house made column wheel chronograph movement with a dual horizontal coupling visible on the dial side. This marks the start of a new line of Hublot products designed to complete the Big Bang, Classic Fusion, King Power and Masterpieces ranges, the company said.

For the very first time since the creation of the Big Bang in 2005, the push-buttons are round. Each one is protected by a push-button guard integrated in the middle and finished like an engine piston. A skeleton dial reveals the movement. A minute counter is positioned at 3 o'clock and a small seconds counter at 9 o'clock. The date view is at 3 o'clock.

The HUB 1242 Unico manufacture movement is a flyback chronograph that can be reset at any time with two push-buttons. The hour counter is driven directly by the barrel, and there is no jumper in the chronograph mechanism. This simplification boosts reliability and robustness. Its silicon pallet fork and escapement wheel are fixed to a removable platform and are made from silicon. The movement has been trimmed to 330 components. It has a frequency of 4hz/28,800 vibrations per hour with a power reserve of about 72 hours.

Seiko Kinetic Direct Drive
Seiko made the world’s first kinetic watch 25 years ago that used the motion of the wearer to create the electrical energy to power a quartz movement. Using the mechanical energy of a traditional oscillating weight, the Kinetic rotor spins at up to 100,000 rpm, creating the electrical energy that drives the quartz movement without having to change the battery.

For the Kinetic Direct Drive caliber, not only does the rotor power the watch as one moves, but the wearer can also power it by turning the crown, just like a mechanical watch. In addition, when winding the crown, the power reserve changes function to become a real-time indicator of the energy that is imparted to the watch through the winding. 

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LVMH Q1 Watch and Jewelry Sales Up 28%

LVMH Moët Hennessy Louis Vuitton reported that sales for its Watches & Jewelry business rose 28 percent to 261 million euros ($371.2 million) for the first quarter of 2011 supported by the “excellent performance” of its own boutiques and its multi-brand retail stores as well as its recent watch introductions.

The company’s watch-making brands revealed their innovations at Baselworld, the world’s largest watch and jewelry trade fair. TAG Heuer strengthened its iconic Carrera collection of chronographs. Zenith, which performed well for the quarter, continued the renovation of its manufacturing facility in Le Locle, Switzerland. Hublot benefited from the strong momentum of its Big Bang and King Power lines and the opening of its own boutiques, most notably Place Vendôme. Chaumet's new Bee My Love collection “was very well received.” And De Beers made “significant progress” in Asia and the United States.

The company said its acquisition of the Italian luxury jewelry house Bulgari was a key highlight of the quarter.


Jewelry and watches weren’t the only quality performers for the period. Overall, the world's leading luxury goods group reported that first quarter 2011 sales increased 17 percent to 5.24 billion euros ($7.38 billion). All of its business divisions recorded strong growth for the period. The United States, Europe and Asia all recorded positive sales increases.

The Paris-based company said that following the earthquake in Japan, an important market, local teams worked hard to bring a gradual return to normal business.

The Wines & Spirits business group posted a 20 percent increase in sales to 762 million euros ($1.08 billion) boosted by strong demand in the U.S. and Asia.

The Fashion & Leather Goods business, home to the company's most prestigious brand, Louis Vuitton, reported a 17 percent sales increase to 20.3 billion euros ($28.85 billion).

Perfumes & Cosmetics sales increased 9 percent to 803 million euros ($1.14 billion) led by traditional and new products from Christian Dior and Guerlain.

The Selective Retailing business segment sales grew 20 percent for the quarter to 1.4 billion euros ($2.02 billion) due to a rise of tourism in Asia. Sephora chain of cosmetic stores continued to do well across regions, increasing its market share.

LVMH said it will continue to focus its efforts on developing its brands and maintaining control over costs. It said it will rely on “the diversification of its businesses and the good geographical balance of its revenues to increase.”

TAG Heuer Carrera Heritage Line

One of the many, many things I did not get to see at Baselworld was the introduction of TAG Heuer's Carrera Heritage series to the annual watch and jewelry show. The watch, which actually debuted in October, “evokes the glamor and sophistication that defined the 1960s,” the company said, when the original Carrera was developed.

The timepieces are powered by a modern calibre 6 or calibre 16 movement, the collection is designed to look like they have been handed down across generations. This feel is achieved through details such as the flinque texture on the dials and a decorative motif of undulating lines that is traditionally found on vintage timepieces. This aesthetic is complemented by the timepieces' raised and curved Arabic numerals, which are featured in a blue, rose gold, polished silver or 18k gold, depending on the model. 

In designing the Carrera Heritage series, TAG Heuer delved into its archives, pulling specific elements, including the linear shape of the push buttons and tapered hour and minute hands, from a 1945 Heuer timepiece. Also drawn from this nearly 70-year-old watch were the hands for the small, second counter and chronograph, which boast an elegant delta shape. These stand in stark contrast to the stick-straight hands that sweep along today's timepieces, adding to the new models' antique appeal.

It is available in either a watch or chronograph.

Tag Heuer Carrera Watch Celebrates 50 Years with its Creator, Jack Heuer

Jack Heuer

The Carrera chronograph is one of the most successful watch lines ever released by Tag Heuer, which has produced more than its share of successful timepieces. The creator of the Carrera, Jack Heuer, was in New York Thursday to help the Swiss watch brand celebrate the 50-year anniversary of the iconic watch.

Jack Heuer, honorary chairman of Tag Heuer and the great grandson of founder Edouard Heuer, spoke for about 10 minutes discussing how the watch came about, the inspiration behind the name, the celebrity endorsements and what the Carrera has meant to his career and to Tag Heuer. His talk combined business and design strategy and personal reminiscing.

“I’ve been a product man all of my life. That’s the thing I love most. I made many, many products both in my watchmaking career and in my later career,” he said. “But here I stand a few weeks or months before I retire and I’m really a bit proud to have contributed to a product that has lasted 50 years.”

Below is Jack Heuer’s presentation at the Highline Stages.



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