The first signs that watch collectors are still eager to buy is happening...
Fellows’ Watches auction has broken a house record for the number of bidders at one of their timed auctions. The sale ended on Monday 20th April and reportedly had a total of 1,150 registrants on Fellows’ platform alone and over 400 more on the-saleroom.com. The total of 1,600 is the most registrants ever signed up for a timed-auction with Fellows, way-surpassing the 716 registrants who signed up to their Jewellery auction on Thursday 16th April. The Watches auction showcased 377 lots running for a total of seven and a half hours, from 11am – 6:30pm.
The in-demand sale was full of stunning watches from a variety of brands including Tag Heuer, Rolex, and Omega. The auction had an 87% sell-rate and showcased the strong demand for elegant timepieces. Many watches exceeded their auction estimates (most notably from Rolex and Omega) and they often received 20-50 bids each. An 18ct yellow gold Rolex Oyster Perpetual Day-Date watch sold for £13,079 (including fees) which came in with an estimate between £4,500 and £5,500. Furthermore, a gentleman’s stainless steel Speedmaster chronograph by Omega sold for £4,657 (including fees) against an estimate of £1,200 - £1,800.
Steven Yambo, Senior Watch Specialist at Fellows Auctioneers, said:
“We received record registrants in our Watches sale and I am thrilled there is still a demand for all kinds of timepieces. So many items flew above their estimates and I enjoyed watching people bid on the auction even down to the wire. Our watch auctions at Fellows continue to go from strength-to-strength and even with the way the world is at the moment people still seem to be taking part in our auctions.”
Highlights from Fellows’ Watches Sale which ended on Monday 20th April (prices are inclusive of all fees):
- Lot 9 - BLANCPAIN - a gentleman's 18ct yellow gold Villeret chronograph wristwatch. Estimate: £1,200 - £1,800. Price realised: £3,381.40
- Lot 64 - CARTIER - a mid-size bi-metal Ballon Bleu bracelet watch. Estimate: £2,500 - £3,000. Price realised: £5,295.40
- Lot 98 - FRANCK MULLER - a lady's 18ct white gold Cintree Curvex wristwatch. Estimate: £2,000 - £3,000. Price realised: £4,721.20
- Lot 178 - OMEGA - a gentleman's stainless steel Speedmaster chronograph bracelet watch. Estimate: £1,200 - £1,800. Price realised: £4,657.40
- Lot 292 - ROLEX - a gentleman's 18ct yellow gold Oyster Perpetual Day-Date bracelet watch. Estimate: £4,500 - £5,500. Price realised: £13,079.00
This is a great sign for the watch industry. Although we’re all experiencing unnerving times, Fellows and the many people interested in this recent auction act as evidence of a few things. Firstly it shows that watches being sold online is completely viable. For many, this won’t come as news but for an auction house that normally has people coming to see the watches before bidding, this is encouraging. Next, it shows that although the current climate isn’t ideal, people still care about mechanical watches. And finally, it shows that these people are happy to spend their money on lockdown. Whichever way you look at it, this is encouraging news.
To find out more and to keep up to date with the latest auctions be sure to head over to Fellows website.