Neil Armstrong’s Omega Speedmaster Sells for $2.1 Million at Auction

Posted on April 24, 2025April 24, 2025 by Liz Bailey

Offering the unprecedented chance to own a timepiece worn by the first man to walk on the moon, RR Auctions of Massachusets sold Neil Armstrong’s commemorative Omega Speedmaster on 17th April. With an estimate of ‘$2,000,000+’ it achieved a historic result of $2,125,000.

Omega Speedmaster, ref . BA 145.022-69

Omega originally produced 28 of these commemorative Speedmaster watches to mark the occasion of the Apollo 11 mission taking place in July 1969. On 20th July of that year, Neil Armstrong was the first man to walk on the moon.

During the Apollo 11 mission, each astronaut was officially equipped with an Omega Speedmaster, qualified by NASA in 1965 as the only watch for manned space missions. Alongside Neil Armstrong and Aldrin, the Omega Speedmaster Professional became “the first watch worn on the moon”.

To mark this incredible historical moment for space discovery and horology, Omega produced the very first Speedmaster chronograph in 18ct yellow gold, accented with a burgundy red aluminium inlay bezel with dot over 90, black markers and hands. The BA 145.022-69 was powered by a cal. 861 17 jewel manual wind movement.

The first of these 28 watches were inscribed to the case back “To mark man’s conquest of space with time, through time, on time” together with the recipient’s name. The first two of these references were supposed to be presented to President Richard Nixon and Vice President Spiro T. Agnew although they had to decline the gift due to compliance reasons. The remaining 26 watches were presented to NASA astronauts both alive and deceased who paved the way for the moon landings in the Mercury, Gemini, and Apollo programs at a gala dinner in November of that year. Numbers 29 to 32 were given to Swiss personalities and bear the same case back inscriptions as the astronaut’s timepieces and exclude their sequential number, making these watches the only 3 out of 1,014 total pieces with this attribute.

Of course, Neil Armstrong, “Buzz” Aldrin, and Michael Collin were the highest profile recipients of these limited astronaut watches. However, other recipients’ BA 145.022-69’s have passed through auction rooms in the last couple of years, creating an exciting build up in interest around this collector’s reference and paving the way for the sale of Neil Armstrong’s watch.

“To mark man’s conquest of space with time, through time, on time”. The Twenty Six Speedmasters presented by Omega to NASA

A quick browse of the major salerooms results from 2021 to present shows six of these watches, nearly a fifth of the total production selling at auction in less than five years. In fact, RR Auctions sold two of these examples in 2022 and 2023, which no doubt helped to bolster vendor confidence in consigning Armstrong’s watch!

Wally Schirra was a Nasa astronaut for a decade from 1959, his expeditions on Mercury Atlas 8, Gemini 6A and Apollo 7 were instrumental in informing the Apollo 11 mission. Wally the first astronaut to go into space three times, and the only astronaut to have flown into space in the Mercury, Gemini, and Apollo programs. In total, he logged a remarkable 295 hours and 15 minutes in space. Upon his death in 2008, noted space collector Larry McGlynn purchased this watch directly from the Schirra family and subsequently offered for sale fourteen years later. This watch reached $1,906,954 (£1,469,403) at auction.

This watch, belonging to Apollo 12 moonwalker Alan Bean sold for $302,500 (£233,091) against a $200,000+ estimate in April 2023. Alan was still in Apollo 12 quarantine from his ‘Skylab Mission II’ in November 1969 and so received his watch at a later date. His was number 26, perhaps reflective of the timeframe in which he was able to access his watch.

Apollo 13 Command Module Pilot John “Jack” Swigert Jr’s Speedmaster was sold by Sotheby’s at their Important Watches Sale in June 2023. Played by Kevin Bacon in the 1995 film Apollo 13 recounting this renowned and ‘unlucky’ mission in which the oxygen tank in the service module exploded and the crew was forced to rely on their lunar module as a lifeboat. Swigert’s watch was essential in his on-board calculations of oxygen reserves and life-saving timing – this piece sold in June 2023 for $152,400 (£117,333).

In May 2023, Phillips sold another of these Apollo 11 Speedmasters, this one presented to Captain Charles ‘Pete’ Conrad Jr. This watch was number 12 of 1,014 and awarded to Conrad in recognition of his service as the commander of the Apollo XII space mission, in which he became the third person to walk on the moon in November 1969. This piece sold for 1,397,000 HKD (£136,983).

In January 2021, Antiquorum sold a somewhat mysterious Apollo 11 Speedmaster. Bearing simply the name ‘Adolf Brandle’ with no further inscription or number, the lot presented somewhat of a challenge to collectors and enthusiasts. Having been through various sales from 2019 onwards, auctioneers were unable to trace Brandle’s association with NASA, and furthermore the watch’s original movement had been ‘swapped out.’ Presenting a conundrum to many considering its mysterious history, this watch eventually sold for €124,800 (£105.800).

‘The First Watch Worn on the Moon’
Limited Public Release

Following the first 32 of this special reference, Omega sold the remaining of the 1,014 watches to the public. These limited-edition watches differed in their case back inscription, engraved to each ‘The First Watch Worn on the Moon.’

In 2024, Bonhams sold one of these limited watches at their Hong Kong auction. This edition was number 626 of 1,014, and was presented for sale complete with original paperwork, iconic crater box and in good condition. This watch sold for HK$384,000 (£37,539).

Other results for these watches include CHF47,880 (£43,141) at Sotheby’s in 2022, and €54,600 (46,183) at Antiquorum in 2022. We would look to recommend an insurance figure of around £50,000 in the current market, subject to change upon physical inspection of the watch in question.

This year, Space Age interest for watches in the open market appears to be piquing, with Sotheby’s Geneva homing in on this trend hosting a specialist ‘Area 51’ space themed watch sale this month that performed exceptionally well. This area of collecting certainly appears to be one that is in the spotlight once more, and we would urge any collectors to ensure their pieces are fully covered with a specialist valuation.

The ‘Jump Hour’ Watch – a minimalist’s dream?

Posted on April 23, 2025April 24, 2025 by Liz Bailey

One of the hotly anticipated announcements to come from this month’s Watches & Wonders fair was Cartier’s addition to their Privé collection. The Tank à Guichets, a 1920s Jump Hour model – and arguably the most distinctive of the Tank models – has been selected this year, reimagined in a choice of yellow, white and rose gold, plus a platinum model with rearranged ‘driver style’ dial configuration. Limited edition and likely to be extremely sought-after by collectors, the latter platinum version is to be released with only 200 editions. The price for this piece has not yet been released by Cartier.

The ‘Jump Hour’ watch features a sudden hour display instead of a conventional dial with sweeping seconds hand. At the advent of a new hour, the wheel ‘jumps’ along, resulting in a fuss-free and pared back dial. These innovative and charming watches were first designed in the late 19^th century and found a popularity in the dawn of the Deco period, with watchmakers favouring bold lines and innovative design.

The original Cartier Tank à Guichets was released in 1928, evolving from the first Tank model 11 years earlier. The apertures, or ‘guichets’ replaced hands and created a minimalist, yet technologically advanced aesthetic. Incredibly rare, these early Tank à Guichets are infrequently seen at auction, with the below example selling at Phillips in 2017 for $131,250 and a 1929 example selling at Antiquorum in 1998 for CHF100,300. It will be interesting to see if any more original examples appear on the rostrum in the next few months following this re-release.

Previous re-releases of the Tank à Guichet have taken place from 1996 to 2006 but always released in very strict and limited production numbers – a total of three were released in yellow gold and platinum in 1996, and limited runs of 150 at most thereafter.

Cartier however is not the only watchmaker that has the jump hour watch within its design heritage. The idea for the jump hour came from engineer Josef Pallweber in 1883 for use on a pocket watch. Late 19^th and early 20th century pocket watches with jump hour functions can be sourced at auction relatively affordably, anywhere from a couple of hundred pounds for silver examples, creeping into the thousands for fine examples by the likes of Breguet and Niton.

Jump Hour wristwatches were also produced by Rolex, Patek Philippe, IWC, and Bulova amongst others during the 1920s and 30s. As seen below, prices and values on these can vary drastically, with more commonly produced models such as the Rolex Prince below achieving less than £20,000, and more scarce or even unique models such as the Tiffany stamped Patek reaching in excess of six figures as it sold 20 years ago, with the likelihood it could achieve seven in today’s market.

The quartz crisis interestingly saw a resurgence in design appetite for the jump hour watch, as the popularity of digital displays on electronic watches encouraged watchmakers and consumers in this design direction. These 1970s models included the Sicura and Cambino Jump Hour models, released in relatively large numbers and can be secured for less than £100 at auction.

Contemporary fine and independent watchmakers have used the jump hour function in the last 20 years or so to make design statements in limited numbers. These exclusive and interesting watches have been performing well at auction and look to increase further with the appetite for Jump Hours increasing following Cartier’s latest release.

Late 19^th, early 20^th and 21^st century jump hour watches are not only distinctive but are much rarer than their conventional dial with hands counterparts. It is vital that these pieces are adequately insured to reflect this scarcity and increasing market appreciation.

To arrange a watch valuation, call us on 01883 722736 or email us on [email protected]

Luxury or Lie? A Guide to Identifying Replica Watches

Posted on February 13, 2025March 20, 2025 by Alastair Meiklejon

If you speak to any one of the valuers at Doerr Dallas, you will know that one of our biggest fears is having to confront a client when we believe that an item ‘is not right’ whether that be a diamond, a Picasso, a Birkin, or in some circumstances – a watch.

Without any doubt it has always been a case of addressing the issue of whether or not they know its fake, or if in the worst circumstances, they have purchased it thinking it was genuine.

The market for fake watches, or as some kind people refer to them, ‘replica’ watches is booming, the desire to own a luxury timepiece as a status symbol is possibly the highest it’s ever been and with technology advancing at such a high rate, the availability of these items is incredible.

So, where do these items come from?

30 years ago, when I first became interested in watches, fakes were something you saw on a towel in Puerto Banus, terrible quality and instantly recognisable from the real thing from about 200 metres, and generally TAG Heuer watches – possibly because they generally all had quartz movements and lots of plastic in the 90s, so a lot easier then dealing with an automatic movement.

Today, the Chinese replica industry is huge, probably dealing with 90% of all the replicas that you see available – they have the technology, the skill set, and the lapse enforcement on prosecuting the factories that make the watches – despite what many people may think about the law in China, they are still illegal, they just don’t enforce the law.

Other places such as Turkey seem to be taking a lot of heat recently as well, possibly because of the tourist industry and many well-made replicas are seen from this area.

Vietnam, is the last place that you would expect to see such a commercial symbol come from, but in the last 5 years there has been a huge influx of exceptionally good replica dials, cases, and hands for vintage watches with even some of the best experts in the world being fooled.

Who buys fake watches?

This is a question that I get asked quite a lot, and it couldn’t be more of a polarising answer.

Of course, there are people that aspire to own a Rolex for example and will never be able to justify the thousands of pounds that it costs to own one so this might be as close as it gets, if they want the style or the kudos then perhaps this is the only option?

There are also the collectors….People are fascinated by horology and the believe it or not some people purposely collect replica watches in order to see just how close they are to the real thing – they modify and tinker and enjoy the hobby.

Finally, there are the people that purchase a replica after buying the real thing, they wear the fake in the knowledge that they own the real thing, so perhaps it gives them some authority to wear a dodgy copy in public, I won’t pass comment on that however!

The problem with fake watches

Well, the problem first of all is that replica and counterfeit goods are illegal, by purchasing them you are breaking the law, and whilst you may not think that it harms anyone – there are many problems associated with counterfeit items and organised crime, sweatshops, and other nasty things that owning watches shouldn’t be related to – but it doesn’t stop people from buying them.

So what are the tell tale signs?

In the last 20 years, the market for replicas has increased so much that the pieces that you see now are nothing like the terrible forgeries of old, in some circumstances you cannot tell without disassembling the watches, and looking at all the component parts, but as a rough guide, here are a few things that the forgers still get wrong on a regular basis, and for this example we will use probably the most counterfeited watch in the world – the Rolex Submariner.

Boxes and paperwork

It seems a strange one to start on, but this is still where a lot of replicas fall down within the first 30 seconds, the forgers still struggle to get this right – often the boxes are either the wrong colour or the wrong proportions, or there may be a certain smell to the glue that’s used and often its done badly – something that would never leave a Swiss factory. The paperwork is often not stamped or dated by a retailer, of it is, it’s usually by a Chinese chain of jewellers or similar – if these things don’t add up just walk away. Another thing in recent times, especially with Rolex cards is the colour and the font of the logo, it can be very close, but just not the right texture – admittedly, it’s difficult to tell if you haven’t got a genuine article to compare it to but it should be quite obvious.

The Crystal

For those of you that don’t know, the crystal is the piece of glass that covers the dial, protecting it, this can be made of plastic, glass, sapphire, with or without coatings – make sure you know what type the specific watch should have and if it’s different, start asking questions.

The Cyclops lens is a magnifier that you will see on many Rolex watches, and this is regularly incorrect in terms of magnification and alignment, it should always be 2.5x magnified, and whilst we are talking about the date wheel – be sure to check that every number is the correct font as well!

In recent years Rolex have started etching a coronet to the six o’clock position to their watches as an anti-counterfeit measure – but of course, this has now been copied. Firstly, if you can see it without a loupe of magnifying glass, its fake. Now, when looking under magnification it should almost appear to be floating, this is creating by Rolex engraving it at different heights throughout the cipher, and whilst the forgers are almost there, it’s still not quite perfect and is a give-away.

The Bevel

No, not the bezel, the bevel.
The inner ring surrounding the dial has always been a difficult thing for the forgers to get right, either the depth or the angle – it has never quite worked, but in recent years Rolex having introduced an engraving to the interior of the bevel and unless the font and spacing is totally 100% spot on, then – you guessed it, its fake.

The Dial

Possibly the biggest give away on the Rolex Submariner is the dial, so many things can be ascertained by this and with so many aftermarket dials it’s an absolute minefield, so obvious things include the setting of the markers – are they straight? Is there any lume on the surrounds? Are they the right shape? All of these things will be obvious from looking under a loupe, but one of the most bizarre ones is actually the presence of dust or dirt. Remember these items are made in sweatshops, where a lab coat and gloves may not have even been heard of.

The Case

The key to fishing out a dodgy case is to look at the proportions first, does it look too thick? This is usually a situation with Rolex where the forgers will use the same case for a GMT, Submariner, Explorer, Yachtmaster and others and merely change their markings and bezel. The other major giveaway is material markings – The forgers don’t have the funds to change all the cases for each model of watch so there are specific fakes for the yellow gold, rose gold, white gold and stainless steel, so they will use the same case for each…now just in the past few weeks I have seen a very good fake, but with 750 markings (meaning 18ct Gold) on a stainless steel watch – this again means 100% that you are dealing with a replica.

The Bracelet

One of my favourite go to things before looking at anything else in a suspected watch is the bracelet – if this is wrong it is usually a very good indicator, not always but 90% of the time. Look at the screws that hold it together, do they have a chamfered edge? Do they turn easily, are they all the same? Look at the end links where they meet the case, do they slot in perfectly?

The Movement

This used to to be the point where all arguments were settled, as soon as you took the case back off (which also contains serial numbers btw) you could see whether the movement was right or not, usually because it was marked, but in 2024 and the advent of 3D printing, scanning and manufacture, we now see what are known as clone movements in the back of these watches and basically they are exactly the same but for a few details, and the details are what makes it genuine – look at the brushing, what’s the quality like? Look at the wording, does it look off or not clear? Look at the jewels and the retainers, do they look right? And finally, look at the screws – again a brilliant give away.

And finally….

Always buy the seller, not the watch.

If you really are in doubt about a watch, walk away – a good seller will understand your questions and know that he can sell it another day, some passing off a fake will not.

Whilst a person working in a jewellery chain or a large watch retailer may have a lot of knowledge about certain things and usually a lot of bravado, they will not and should not tell you a watch is fake or genuine upon merely a first glance – When in doubt always have a watch appraised by a professional valuer/authenticator.

To arrange a watch valuation call us on 01883 722736 or email us on [email protected]. We offer a desktop watch valuation service that is charged at £50 per watch plus VAT. To find out more about it, visit our service page here.

Download our handy one page guide which highlights the different areas of the watch to look at when checking for replicas.

The year of the snake, or the year of Serpenti?

Posted on January 29, 2025March 20, 2025 by Liz Bailey

Bulgari’s Serpenti Watch Collection, its History and Value

Arguably one of Bulgari’s most iconic collections across both jewellery and watches, the Serpenti collection has been and continues to be a firm favourite, especially in the year of the snake! Seen adorning countless celebrities, from Elizabeth Taylor in the early days of the Serpenti watch, to Adele in the present day, who has been spotted wearing her yellow gold and diamond set Serpenti watch to basketball games, these timepieces are a wonderful blend between sculpture, design and watchmaking. With a new edition of Serpenti watches launched in January of this year, the Serpenti watches have had a hold over watch collectors for over 75 years.

The first Bulgari Serpenti collection was launched in 1948, created from the brand’s Tubogas technique patented in 1881– featuring gold or steel strips wrapped around a core. This simple yet effective design was the unassuming starting point for the breathtakingly detailed creations that were to follow.

It was in the 1960s that the Bulgari Serpenti watch gained its scales and cult status. Featuring individually applied enamel and gemstone hexagonal scales to each Serpenti watch and movements hidden within the mouth of each snake, Bulgari created wearable sculptures that were frequently seen gracing film stars and Vogue magazine covers. Although prevalent in mainstream media, fewer than 100 of these early Serpenti bracelet watches were created, and the variety in their designs, dials and movements is remarkable.

We would recommend an insurance valuation in the region of £150,000-175,000 each for the above pieces.

Bulgari did not just use neutral, earth tones for its 1960s Serpenti bracelet watches. Bright enamelled creations in pink, green, blue, yellow, red and cream were created in this creative and colourful decade.

More complex a creation still are the gem-set Serpenti watches. Incredibly rare and sought after by collectors, examples set with turquoise, tiger’s eye, lapis lazuli and even onyx scales were meticulously created. One such example is currently available to purchase on 1^st Dibs for £542,000. Set throughout with individual coral cabochon scales and accented with pear cut ruby eyes, this piece is adorned with a Jaeger Le-Coultre movement. This particular piece was exhibited at the Houston Museum of Natural Science as part of the Bulgari: 130 Years of Masterpieces, Houston, Texas, May 2 – October 5, 2014.

1970s and 80s Serpenti Watches

Having previously collaborated with esteemed watchmakers such as Jaeger-LeCoultre, Vacheron Constantin, and later Movado in creating the tiny movements for these snake bracelet watches, Bulgari began to produce its own movements from around 1978 onwards, and this decade marked a return to the its Tubogas roots, with comparatively slimmed down designs of snakes that wrapped twice or three times around the wearer’s wrist.

The Modern Day Serpenti Watch

In 2009, Bulgari marked its 125^th anniversary by reintroducing the Serpenti in a new, more geometric form. This more contemporary look aligned with Bulgari’s Serpenti jewellery line and continues to feature in the brand’s most current collections.

The most recent iterations of the Serpenti watch were launched on 21^st January 2025. For the first time ever, Serpenti watches with in-house BVS100 automatic movements are available to purchase. Designed with an exhibition case back to highlight the movement, these watches will retail anywhere from $10,200 for a steel model, all the way to $52,000 for a rose gold Serpenti, and €139,000 for the diamond-set Serpenti Seduttori. These will be available to purchase in the UK from April.

Valuations of Bulgari Serpenti Watches

Bulgari’s current Serpenti collection of watches to purchase in the UK currently are retailing between £4,920 and £83,000 at the time of writing. As seen above, the sculptural snake creations from the 1960s hold the most value owing to their rarity, the sheer craftsmanship involved and of course their place in design history. With the ongoing innovation and sartorial appetite for these iconic watches continuing to flourish, we would expect subsequent values to increase, particularly for earlier models and limited references.

The 12 days of Christmas – A gift guide!

Posted on December 22, 2024December 18, 2024 by Aurélia Turrall

In 2014, Sotheby’s sold a copy of Mirth Without Mischief for $23,750, dating from 1780 in which the first version of the famous Christmas carol Twelve days of Christmas appeared for the first time.

Christmas Carol, Sotheby’s 2014, estimate $7,000 - 10,000, Containing The Twelve Days of Christmas; The Play of the Gaping-Wide-Mouthed-Wadling-Frog; Love and Hatred; The Art of Talking with the Fingers; And Nimble Ned's Alphabet and Figures. London: Printed by J. Davenport ... for C. Sheppard,1780. No copy has appeared at auction in the past 40 years; only 1 copy recorded (Opie collection, Bodleian Library, who dates it c. 1780), all others in Worldcat are e-books. Not in Cotsen

Some historians believe it could be French and could have been created as a memory game, to help Christians learn and remember the principles of their faith. Though this could and has been refuted by some, let’s have a look at what is gifted during the Twelve Days of Christmas.

On the first day of Christmas, my true love gave to me a partridge in a pear tree.
Day 2: two turtle doves
Day 3: three French hens
Day 4: four calling birds
Day 5: five gold rings
Day 6: six geese a-laying
Day 7: seven swans a-swimming
Day 8: eight maids a-milking
Day 9: nine ladies dancing
Day 10: 10 lords a-leaping
Day 11: 11 pipers piping
Day 12: 12 drummers drumming

So many days of festivities, so many outfits! Here is my choice for what I would wear during the Twelve Days of Christmas.

The Twelve days start on the 25^th December, and it is a full day of socialising so the perfect purse for this occasion would be an Art Déco velvet and coral bag by Cartier, dating 1920s, which sold at Bonhams for £2,295.

On the 26^th, in keeping with the Christmas colours I would wear a sapphire, ruby and diamond swivel ring. Sure to grab people’s curiosity if I flip from ruby to sapphire during the course of the day. A ring such as the below would sell for approximately £1,000 at auction.

On the 27^th, when guests have come and gone, I can sit back and admire the Christmas tree. But whilst doing so, I would wear another Cartier piece reminding me of a fancy Christmas tree: a ruby and diamond brooch mounted in platinum dating the 1920s.

With approximately 2 carats of diamonds, this brooch sold for USD 47,880, with a pre-sale estimate of USD 40,000 – 60,000

On the 28^th, to remind me that time is still passing by even though it seems to have stopped for a few days, I would look down at my Patek Philippe 4282 in onyx, malachite and yellow gold with diamond highlights. A combined delight of wearing both an exceptional timepiece and quality jewellery.

This watch sold at Dawsons Auctioneers in 2022 for £14,000 against a pre-sale estimate of £2,000-3,000.

On the 29^th, there might be some event, show or concert to see. And for this, I would take inspiration from non-other than the Princess of Wales. Last year she wore Van Cleef & Arpels Magic Alhambra earrings, retailing for £6,000, up from £5,400 the previous year. Seems to always be good investment to buy a renowned jewellery brand!

On the 30^th, I would wear a jewel set with a restorative gem as the legends have it. This would be quartz. And who else would I wear but Pomellato who have based their name in declining all coloured quartz in every style possible based on one specific design: the Nudo ring.

Ranging from £1,800 with a rose quartz ring, the collection goes up to £5,700 with a pair of prasiolite and diamond earrings.

With quartz’ powers to energise, remove all negativity and give peace and optimism, I’m all set for New Year’s Eve celebrations.

On the 31^st, I would wear the present I found under the Christmas tree. And just like it was beautifully wrapped, it too looks like a present: the Tilda Bow diamond ring by Graff.

With a little over 2 carats of diamonds, it retails for £13,000 and would be the gift that keeps on giving every time you would glance at it!

2025 will be the year of the Wood Snake in Chinese culture. Snakes symbolise eternity and in zodiac signs, they are said to be hardworking and driven. I can’t think of a better way to start the year and to embody those images. And for that the perfect bangle sold by Bonhams in 2020 for USD 2,800, set with 1.25 carats of diamonds, and coiled in the tradition of snake and serpent bangles found in all antique jewellery.

On the 2^nd January I would subtly remind the people around me how they make me feel with the Tiffany T Smile pendant necklace. Retailing for £3,250 and set with under 0.20 carat of diamond, it could be seen as a costly reminder but worth every penny!

On the 3^rd as I “hit the town” for some shopping to enjoy the new year’s sale, I would need something practical to plan my day and for that I choose a Jaeger LeCoultre Reverso Classic Duetto, at £16,500.

With its guilloché blue or silver dial to suit day or evening mood, the Reverso is chic and understated with perfect lines. One of my all-time favourites.

On the 4^th it would be a day of catching up with friends and discussing the sales purchase. And to do that, pairing a simple outfit with Chanel jewellery seems like it would be the go-to look: faux pearl and paste crystal earrings, in gunpowder metal. This vintage pair of earrings sells for £645.

Finally, as a reminder of the good and bad times, those past and to come, I would choose to wear a diamond eternity ring as I start the new year at work. As a symbol of the circle of life, the unbreakable bonds that make us who we are, and the diamonds’ sparkles representing an echo of life’s dazzling surprises. Graff’s Emerald Cut diamond ring retails for £60,500 and is set with 7.60 carats of diamonds, that’s a lot of dazzling!

These are the jewels I would wear for 12 consecutive days after Christmas. I never said it was going to be a cheap Christmas… Wishing you Best Wishes for the New Year.

If you recieved some beautiful Christmas gifts this year, make sure you have them valued correctly for insurance purposes – get in touch to find out more about our valuation services by emailing [email protected] or calling us on 01883 722736.

Slow and Steady? The Enduring Appeal of Cartier’s Tortue Wristwatch

Posted on November 13, 2024November 22, 2024 by Liz Bailey

French for ‘Turtle,’ the Cartier Tortue gets its name from its distinctive tortoise shell shaped case. The Tortue was Cartier’s third ever watch case design, predating even the ever-popular Tank. Louis Cartier had just introduced the Santos-Dumont in 1904 and the Tonneau in 1906 when he designed the Tortue in 1912.

Cartier’s First Ever Chronograph

The Tortue started out as a time-only watch but in 1928, both a minute repeater and a single-button chronograph were introduced. The Tortue Monopusher was in fact Cartier’s first ever chronograph timepiece. These early pieces are incredibly rare, and less than fifteen pieces have ever surfaced on the open market. In 2002, Antiquorum sold a 1929 Cartier Tortue ref. 20797 – a rare example of a minute repeating watch and at the time thought to have been the only minute repeater made by Cartier during the Art Deco period. This piece set auction records, and achieved a hammer of CHF 993,500, or £877,871.50. Two years later in 2004, Antiquorum unearthed and sold a 1928 example of a Tortue Minute Repeater ref. 20797 and this piece achieved $640,500.

Throughout the 20th century, Cartier have produced many variations of the Tortue, in steel, yellow gold and platinum. Popularised as a ladies watch and gaining celebrity fans such as Cate Blanchett and Patti Smith, these watches have been available to purchase on the secondary market, performing steadily on an upwards trajectory.

For example, the Cartier Tortue reference 2496C which was produced from 1998-2008 is a time-only, 34mm, 18ct yellow gold watch with silvered dial and classic Cartier dial with Roman numeral markers, chapter ring and blued steel Breguet style hands. According to Chrono 24, the average value of this watch took a typical post-covid dip from those dizzy heights in watch collecting, however has been steadily increasing over the last 18 months, with the average sale figure on the secondary market now sitting at £12,500 (rising from a modest £5,000 pre-covid).

Re-imagined and launched at this year’s Watches & Wonders, the 2024 Privé Tortue is the eighth instalment in Cartier’s latest Privé collection. Celebrating 112 years since the inception of the original Cartier Tortue, the maison introduced a collection of time-only and more excitingly chronograph Privé Tortue models, each limited to 200 numbered pieces – except for a diamond and platinum monopusher (or monopoussoir in French) watch limited to 50 pieces.

Model	Production Quantity	Price at Watches & Wonders 2024 (Source: Hodinkee)
Platinum Privé Tortue Monopoussir Watch	200	€53,000
Yellow Gold Privé Tortue Monopoussir Watch	200	€46,000
Platinum Privé Tortue Watch	200	€31,100
Yellow Gold Privé Tortue Watch	200	€27,900
Platinum Diamond Privé Tortue Watch	50	€67,735 (£56,500, Source: Cartier)

With production numbers limited and many models already sold out – at the time of writing only the platinum diamond Privé Tortue and the platinum Privé Tortue were still available to purchase new from Cartier – it will be interesting to see the rise in value for these timepieces, particularly the Monopoussir references with their sleek classic design, impressively ‘simple’ one button chronograph complication and distinctive red ruby cabochon crown.

In what remains an ever-changing market, current and up-to-date and specialist watch valuations are incredibly important to ensure that your collection is adequately covered. For an insurance valuation of your collection from our specialist, nationwide team, contact our team via [email protected] or visit our website www.doerrvaluations.co.uk.

Limited edition watches – when exclusive just isn’t exclusive enough…

Posted on October 30, 2024November 15, 2024 by Alastair Meiklejon

Why do people buy luxury timepieces? It is a question that many people will ask, but nobody can truly reply with one answer.

Is it to tell the time? Highly unlikely.

Is it a status symbol? Possibly.

Is it to stand out from the crowd? Again, quite possibly.

This is where the allure of a limited edition watch comes into play, lets picture the scene;
You are in your local bar on a Thursday evening (for those that work in London, you will know that this is the post covid night to be seen outside a bar in your gilet and trainers) and every other person in your office has a Submariner, or a GMT…when you arrive with a brand new limited edition watch that catches everyone’s eye. Irregardless of cost, the words that come out your mouth will be;

“Well, they only made 25 of these – and my authorised dealer managed to get me to the front of the queue”

In that very instant you will be launched into the higher echelons of the watch enthusiasts in your office, and demand respect among the other ‘watch guys’ who took the ‘obviously boring route’ into luxury watch ownership by buying a black bezel Submariner.

What is very clear though is that limited edition watches are actually almost an addiction for the hardened watch collector, the possibility of owning a watch that you are very unlikely to see another one of, apart at watch collectors evenings (yes, these things do exist) has such an appeal that many limited editions will be sold out months and years before they ever see the light of day.

So, why do limited edition watches even exist?

There are many schools of thought in this department and originally, they were formed in order to move old stock – the old adage of ‘How do you make something old more interesting?’ – by making it appear new again. Car manufacturers still use this trick by giving a tired old model that nobody wants to buy any more by putting in some new seats and a slightly different paint job.

Are they a good investment?

Well, given the date of October 2024, they are still a good investment but given the recent cycle of insane watch prices, it’s hard to determine where things might go but if we take one of the most noticeable and ‘mainstream’ limited editions and use this as an example.

The Rolex Submariner 50th Anniversary 16610LV

The Rolex Submariner 50th Anniversary 16610LV
What on earth is that I hear you cry – well like many iconic things on the planet, such as Plato, Voltaire, and Shakira, it goes by a simple one word name of (the) Kermit.
When this watch was released in 2003 it caused a minor stir amongst Rolex aficionados and remember that this was a time when you could consider buying a Rolex after seeing it, as opposed to just being told about it on the phone or email.

The green bezel was not considered to be in keeping with the Rolex ethos, despite the fact that all their boxes were this colour, and nobody considered that the GMT was a little too outlandish – and so this watch was discontinued in 2010, a mere 7 year run, which at the time was considered to be a major failure. Back then I was offered two of this model, with a discount on retail price of £500 a watch, roll on 14 years and the story is very different.

This watch still retails on the secondary market for around £14,000 – I am aware that at the absolute peak of the market some people were paying up to £21,000 for them, but that was ridiculous, as was most of the market around this period.

When compared to a standard black bezel that you will see 35 of every night at The Ned, it has performed better due to its limited run – so much so that Rolex released similar watches following this such as ‘The Starbucks’ and ‘The Hulk’ – FYI, Rolex don’t actually come up with this names, thankfully.

Patek Phillipe Nautilus 5711 40th anniversary

Whether or not this could be considered a ‘Limited Edition’ or not, is a good question – by any definition all luxury watches are ‘limited’ purely down to the fact that creating and manufacturing processes dictate that they cannot pull one off a production line every 30 seconds, considering that Rolex makes around a million watches a year, one could debate if this is down to supply to market rather than ability.

Another very good example of how the smallest detail can change not only the appearance of a watch, but also the heart rate of the collector is the Patek Phillipe Nautilus 5711 40th anniversary. From any distance this watch just looks like a standard 5711, (currently riding high in the top ten of the stockbroker mugging chart) but in fact it’s made from platinum and has an extra detail on the dial to indicate that you are very special, so special in fact that you were allowed to buy this watch. These small details now will tell the great and good that not only did you buy a Nautilus, but you also probably had to have owned a few in order to own this one – and now have to insure this particular watch for around £300,000.

Audemars Piguet Royal Oak Selfwinding Frosted Gold “Carolina Bucci” Limited Edition 37mm

There are many other watches that are released as ‘Limited Editions’ by the big boys in the horology world and they vary as much as anything else in terms of investment – one simply cannot tell until the market decides, and this means taking the plunge sometimes.

Whether or not history will be kind to the pink dial Tudor Chronograph is a question I have been asked quite a lot, needless to say – I have been diplomatic in most of my conversations about it.

Even in the sales pitch from Tudor, they say ‘It might not be for everyone’…but because it’s a limited edition, you should buy it anyway.

Why pink you may ask, but it’s actually a fairly simple answer – David Beckham. As one of the brands main ambassadors, and staple signature of masculinity, a pink dialled watch to go with his pink shirted football team Inter Miami seems to make sense in the celebrity endorsed watch world. For a price of £4,880, it does seem to be a reasonable outlay if you can live with that dial.

Tudor Black Bay Chrono Pink

John Lennon’s Patek Philippe

Posted on August 13, 2024September 9, 2024 by Liz Bailey

The most iconic and elusive watch of all time?

Set to eclipse the hammer price of Paul Newman’s Daytona if this wonderful piece ever comes to auction, John Lennon’s Patek Philippe has been at the forefront of watch news for the past six months. Famously missing for thirty-four years, this iconic and elusive timepiece is currently embroiled in a near-decade long court battle in Geneva between Yoko Ono and an Italian collector, who purchased the piece via private treaty from former German auctioneers Auctionata. Set to resolve by the end of 2024, the outcome of this lawsuit is eagerly awaited by collectors and watch enthusiasts alike.

John Lennon’s ref. 2499 Patek Philippe watch was purchased just months before his death, as a gift for his 40th birthday from wife Yoko Ono. She purchased the 4th series 2499 from Tiffany & Co. in New York – cased in yellow gold, with the retailer’s signature on the dial, and possessing a single personalised engraving to the case back, which rather eerily reads, considering that Lennon was murdered just three months later:

(JUST LIKE)
STARTING OVER
LOVE YOKO
10 • 9 • 1980
N. Y. C.

The reference 2499 by Patek Philippe on its own is an incredibly rare and highly sought-after timepiece. Only 349 examples of this reference were ever made within a 35-year production run. This reference is largely considered amongst collectors to be the ultimate Patek Philippe – combining singularity and exceptional craftsmanship. Replacing the 1518, this perpetual calendar chronograph features the triple subsidiary dial, day and date aperture and pushers to 2 and 4, all within a 37mm yellow gold, rose gold and the rarest of all platinum case (only two platinum 2499s were ever made).

Following Lennon’s untimely death in December 1980, the watch was recorded and placed into storage. It is purported that from here the watch was stolen by Yoko Ono’s former private driver, Koral Karsan who was later charged in 2017. In 2014 however, the watch was sold through private treaty by Auctionata for €600,000 to an Italian collector.

The watch was subsequently taken to Christie’s Geneva, who contacted Yoko Ono’s solicitor to enquire about the watch and its provenance. It was at this point, nearly 35 years later that Ono discovered the watch had been stolen. In 2015 a contest was raised, and the watch was placed in a ‘consignment-escrow agreement,’ with each claimant declaring their rightful ownership of the watch. Now, nine years later the case has reached its final appeal at the Tribunal Fédéral, Switzerland, against a verdict that Ono is the owner of the watch. The case is expected to be settled within the year.

As the watch and pop culture worlds wait with bated breath to see the outcome of this court case and the eventual trajectory of the piece, it is natural that the market is reactionary, meaning that regular valuations are essential for any watch collection.

Prices for Patek Philippe ref 2499 are amongst the highest for the brand and continue to grow – a combination of their rarity, exceptional complication and place in the zeitgeist. Whether Lennon’s watch does make it to auction or not, the infamy and journey of this exceptional timepiece will surely continue to bolster and uplift the value of these rare timepieces.

Swatch – When the 80s were good, they were very good

Posted on April 23, 2024August 9, 2024 by Alastair Meiklejon

In the watch world, Swatch holds one of the most unique positions possible, not only do they manufacture some of the coolest affordable watches that you can buy, causing worldwide pandemonium for the latest model, but they still are a watch maker first and foremost still forging ahead with technology and creating new visions in horology – also, in doing so becoming one of the most successful brands not just of watches, but of luxury goods owning such iconic brands as Omega, Blancpain, Breguet and Harry Winston.

So where did Swatch start?

Whilst most horological big names will be able to quote 19th century dates and locations, Swatch became a watchmaker in 1983, and really as a reaction against the quartz crisis of the 1970s and 1980s that saw many of the big names in horology to the brink. You may gasp, but many of the big names that I talk about regularly almost sank into obscurity after mechanical watches fell out of favour during this period – Even Rolex had to resort to producing a battery powered watch, although even this now is very collectible.

One of the keys to their continued success is knowing their place in the market, never one to take on the brands that people long for, even their name actually meaning ‘second watch’ indicates that whilst not throw away items, they can be worn as fashion pieces and with such collaborations that would mean so.

Swatch in 2024 is the brand that everyone can wear, from somebody that just wants an inexpensive reliable watch, to somebody that wants a cutting edge design piece, with some serious style and street credentials.

The last couple of years have seen collaborations at the forefront of the brand’s successes, but actually they have been doing this from the very start, with watches in the 1980s inspired by Picasso, Keith Haring and many other artists all forming an important part of their history, and whilst you will have read about the recent work with Omega and Blancpain, some of the most interesting items have come recently from galleries and individual artists, with licensed watches sporting famous paintings by Botticelli from the Ufizzi gallery in Firenze, and Basquiat, Lichtenstein, Magritte and many others all appearing recently, with what I think is a very usable function – Swatch Pay, the ability to connect your credit cards with a watch that looks to all intents and purposes as far removed from an Apple Watch as is possible.

In the past few weeks, in addition to these great names we have seen a collaboration with the Tate Museum, giving us the opportunity to purchase some great watches with colours and designs that virtually explode from the wrist, now they are certainly not for the faint of heart, but in my opinion present a great opportunity to own a watch with designs by Leger, Chagall, Miro, Matisse, Turner and more…If none of the fine art subjects appeal, the ranges are endless with basic colourful watches featuring many different subject matters and if you really are stuck – Homer Simpson eating a donut…what other brand could possibly present so many options!

The Watch Market in 2024

Posted on April 9, 2024November 15, 2024 by Alastair Meiklejon

The ups and downs, smiles and frowns

It’s April, and whilst the majority of us are looking forward to spring flowers and slightly milder days, a large portion of the country are looking forward to another yearly event – The annual bonus.

But if you thought that bargains were available in the post-Christmas sales on luxury watches, you couldn’t be further from the truth – despite the huge increase in production that Rolex, Audemars Piguet and Patek Philippe managed in 2022, there are still waiting lists, still a huge grey market and in fact a reduction in production of 2% for Patek Philippe and a whopping 10% for Audemars Piguet, whilst Rolex managed to keep a flat level inventory.

March 2022 seems a long time ago now, 24 months have passed, and the view of the wristwatch world has changed completely. When the inevitable price drops started to happen in April 2023, many people were surprised, but I think the general consensus was that there was no way that prices could rise exponentially in the way they had done for the previous two years.

Between March of 2022 and 12 months later, the Bloomberg watch index showed a huge drop of £15,000 from around £45,000 to £30,000, which clearly indicated the way in which the market was moving. Looking at the figures from this, however, indicated that those figures were dictated more by six figure Audemars Piguet and Patek Philippe watches losing almost 40% of their supposed secondary market rather than the middle ground of watches in the sub £100,000 market – yes ALL watches have taken a hit, but not to the degree of the absolute top end.

There are many reasons that the realignment of prices happened, not least the crumbling of bitcoin and the fact that most people had to go back to the office after COVID, the increase in production post-COVID, but also the concern of street crime. The fact that the BBC decided to cover the problem shows just how much of an issue it has become.

Right now, things appear to be levelling off though, in fact the prices of some watches appear to be increasing with the Rolex ‘Starbucks’ 126610LV actually increasing in value by 3.2% and completely bucking the trend for six figure watches. The Patek Philippe Nautilus Chronograph 5980/1R seems to be rallying at a 2.8% increase – which even I wouldn’t have thought possible.

What is great though is that the industry hasn’t laid back and decided to just ride out the storm, more and more amazing pieces keep coming out – not least the simply stunning Piaget Polo ’79, which to my mind WILL be the watch of 2024 and over the summer, everyone will be seen wearing it. What is fascinating though is that because of this new release, it has had a huge impact on secondary values of other Piaget watches, whereas before a slightly niche jewellery brand, it is becoming the watch word, metaphorically and literally.

Aside from the Piaget, other new releases include an ‘interesting’ collaboration between Victoria Beckham and Breitling, creating a range of Chronomat watches, that they hope will appeal to a lot of male buyers as well as ladies, which will be a tall order. Farer have released a lovely cushion shaped compressor style stainless steel wristwatch, which is as bold as they come, and in my opinion a bit of a bargain as well, and at the other end of the market the Swatch x Blancpain ‘Ocean of the Storm’ is creating a lot of waves and if you can find one for £350, I suggest snapping it up.