The global recession of COVID-19 naturally affected the watch industry as well. Basel canceled, Rolex and Patek postponed announcement of new work. Many factories also stopped operating, and most brands had a significant drop in sales. Even in the second market, the current Rolex Daytona and Sub have fallen across the board from around March. I was wondering what would happen, and then I suddenly bounced back and recovered, and I was confused as the global situation of the infection was unclear.

Meanwhile, the PHILLIPS watch auction in Geneva was held for the first time, and attention was focused on what would happen to expensive models and vintages. From the results, it rebounded and soared overall. In particular, some Nautilus exploded.

 

This is a white gold model of which only 11 so-called first-generation Nautilus Jumbo 3700 were produced. Made in 1978. Although it is a model with only 11 pieces, it is a surprising result of 740,000 CHF (= Japanese yen 83.67 million yen) that greatly overturns the forecast. It was a hammer at the upper limit of Estimate. The new edged 5711 tended to be higher than the 3700 with a broken case shape, but this may revisit the 3700. Nautilus is a watch whose appeal is halved when the case is polished and rounded, so I think the case shape of the 3700 is important.

 

This is the 40th anniversary WG model that was manufactured in a limited number of 1,300 pieces from 2016 to 17 years. It has been said that 1,300, although limited, is a lot. Even then, I was expecting that watch lovers would say, "If you can buy it at a fixed price, you'll get a premium" from that time, but there was an offer because of the expensive fixed price at that time (11.35 million yen) for Nautilus. However, there were some who gave up. It was only three years ago, and this time it was an extraordinary soaring CHF 480,000 (= Japanese yen 55 million yen). Recently, the market price was around 250K, so it seems that the price will rise again in response to this result. But when Patek announced this 40th anniversary model, why was this design with WG and Platinum? There is a mysterious part, but the results show that the eyes looking ahead of them were wonderful. If you think about it now, the setting that "the WG model is Chrono and the platinum is 3 hands" was wonderful.

 

Perpetual of AP, which is booming with unprecedented popularity due to the popularity of fashion celebrities such as Virgil (although he is a custom ceramic model). This model is a stainless steel model with a limited edition of 50 green dials. This is also a watch like most current models in 2019. The domestic list price was 7.86 million yen, but this time it was 180,000 CHF (= Japanese currency 20.5 million yen).

 

JPS has finally exceeded 1 million. This was also a hammer at 850K that exceeded the Estimate limit. As a JPS, of course, it was the best result ever. If this happens, the Sotheby's champagne gold pole four days later may be affected, too.

 

PHILLIPS was confidently wearing a higher Estimate for the 6200, which was CHF 400,000 (= Japanese Yen 45 million). Of course, this was also a good result, but the Estimate 250-500 is a hammer of 320, so it may have been a disappointing result from the auction side. However, the Estimate was just too high for the bezel-less condition, and the 400K seems to be a valid market evaluation.

 

As a summary of the first day, not all of the vintage series have soared, but the popularity of iconic models is still concentrated. Impression that the model of the dial (6263FAP etc.) that does not tell the difference for enthusiasts was weak this time. It seems that Paul Newman who is in good condition will be strong in the future. On the other hand, the prices of some modern watches manufactured after 2010 are also soaring. AP (Audemars) perpetual system and 3 needles, Patek Nautilus and Aquanaut, Vacheron perpetual... This area is higher than ever. Since you can never buy at the store, there is a great sense of exhaustion in the market, and the dealers are also very active (sale immediately after purchasing), so a spiral that is becoming more and more expensive is created. The model around here has a high list price in the first place, and I think that there was a sense of security because it will be purchased anywhere, and I think there is also an aspect that needs are concentrated in the state of global COVID-19 anxiety. Of course, the current ironton models such as the Daytona, Sub, and GMT seemed to have plummeted around March, but in June it was almost recovered after all, and some rose above the corona (GMT Batman produced. Due to the large number, it fell a little).

On the collector's side, it's safe to say that if you encounter a model that suits your taste, and whose value does not decline, you can enjoy it for a long time while maintaining the asset value.