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t a Christie’s watch auction in Geneva recently, a young boy in the back row aged around 14 raised his paddle. He was accompanied by a woman who appeared to be his mother. The auctioneer at the sale, Christie’s international head of watches, Aurel Bacs, could not make out the bidder clearly, but assumed the mother had instructed her son to bid on her behalf. As it turned out, the boy was buying a watch from his own savings. In over five years in charge of the Christie’s watch department in Geneva and eight years at Sotheby’s and Phillips before that, Bacs has witnessed a level of commitment to watches which is nothing short of extraordinary. “I’ve sold watches to collectors who are in their nineties,” says Bacs, on the phone from Geneva. “On more than one occasion, one of these older collectors has suddenly called asking me to sell their whole collection. One such gentleman called me saying: “I’m in great shape and I’m well, but I want you to sell my watch collection. I’m worried my family doesn’t appreciate its value. But I am confident my children will understand the value of money in the bank account. I’d rather live 20 more years without the watches, than risk seeing the collection ending up in the wrong hands.” Bacs knows ‘at least three’ collectors who each own more than 1,000 watches. His regular clients include people who turn up at Christie’s, “unshaven in a jogging suit,” as well as those in dark double breasted suits. “One of the joys of my job is seeing the CEO of a publicly listed company, a musician and a football player sitting together talking about the intricacies of a watch dial or the beauty of a watch movement. It’s so informal, it’s really fabulous – it’s not about how much money you have to spend, but about a real passion for the subject,” says Bacs. So with a myriad of watches on offer, how is a newcomer to know where to begin? Ask people how they started collecting watches and most don’t remember. “Most say they liked one watch and then it just happened,” says Bacs. First and foremost, Bacs advises deciding on what you want from a watch. Is it just aesthetic pleasure, is it the historic value, the prestige of a particular brand, a focus on technical aspects or a short term or long term investment? Or how about a watch that tells a great story inviting you on a journey that lasts a lifetime? Classics include the Omega Speedmaster Professional the first watch to reach the moon; the Rolex Submariner - James Bond’s favourite; and Tag Heuer’s Monaco – rendered cool by Steve McQueen ever since 1971 racing film Le Mans. Patek Philippe watches are famous for repeatedly fetching world record prices at auction – most recently in November when a yellow gold Patek Philippe Calibre 89, the world’s most complicated timepiece, fetched over £3m at Antiquorum in Geneva.
Many collectors nail down one particular area which fascinates them. One collector I know owns only watches with enamel dials which were made during World War II. He loves the notion that at a time when the world was in utter turmoil and half of Europe was occupied, people continued to produce and buy high end luxury items. Another collector buys only pocket watches with royal provenance dating up until the seventeenth century. Every timepiece he owns has served the needs of a king, an emperor or a head of state. One woman is the proud owner of 100 Vacheron Constantin men’s watches. When deciding on a budget or whether to buy secondhand, auction house catalogues are a great resource for learning the values of different watches in the market. Auction sale previews offer free access to experts who are used to answering questions from beginner collectors. There are almost as many watch magazines as there are car magazines, while online watch blogs and forums from watchprosite.com to timezone.com, are useful for connecting with connoisseurs and collectors. “Questions to consider are who made it, the quality of the craftsmanship and its provenance – where the watch has been. It may be a fine watch, but if it has been worn by Godzilla and a butcher and been handled by watchmakers unqualified to repair it, then it is not great quality. Quality never came cheap.” Mechanical watches rely on constant movement to keep ticking, so there is a sophisticated market for luxurious cases for boxes and display cases designed to store and care for your watches while you sleep. Still, not everyone believes in storing watches out of sight. “I’ve seen watch collections encased in bullet proof glass showcases and one industrialist I know has built a strong room to house his watches – it’s a massive concrete bunker and only he has the code,” says Bacs. “But in the 80s, I once found myself with a collector in his living room surrounded by numerous cases filled with his watches. I asked him if he was scared of burglars. He said: “If a burglar comes, I can’t stop him. But in the meantime, I will cherish every day in this “room”. n
Aurel Bacs, auction
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