EveryWatch’s Post

Take a look at the results from Christie's Important Watches Auction in New York, held on June 10, 2024. This auction showcased 115 exceptional watch lots, achieving total sales of USD 13.04 million with an outstanding 100% sell-through rate, emphasizing the incredible success of the event. The auction was led by two Richard Mille 42mm limited edition watches, both featuring manual movements. The Richard Mille RM56-02 AO, an extraordinary limited edition transparent sapphire crystal skeletonized tourbillon wristwatch with a titanium cable-suspended movement and a cable tension indicator, sold for an impressive USD 3.01 million, making it the most expensive Richard Mille sold this year so far. This watch is limited to just 10 examples. Another significant sale was the Richard Mille RM 52-01, an extremely rare lightweight white quartz carbon skeletonized tourbillon wristwatch with a diamond-set skull. Limited to 10 examples, it sold for USD 1.26 million, surpassing its estimated sale price by 44%. Swipe left to see more from this auction. https://lnkd.in/gSajnkny *These insights and reports are solely dedicated to timepieces and exclude other items like clocks. For detailed analysis and insights, visit EveryWatch.com #EveryWatch #Auction #Christies #Watches #LuxuryWatches #WatchCollectors #AuctionResults #horology #finewatches #hautehorlogerie #watchcollector #RichardMille

Sotheby’s is pioneering a new auction format with "Sotheby’s Sealed", marking a shift in their approach to art sales amidst ongoing policy changes. Originally used for #luxury items such as cars, jewellery and watches, this format is now being applied to #fineart as well. In contrast to traditional auctions, 'Sotheby’s Sealed' maintains strict confidentiality regarding bid amounts, disclosing only the bidder's ranking without specific bid details or publishing any sale results. This lack of #transparency, however, has sparked concerns within the #art market, suggesting it could lead to inflated prices and erode trust in valuation standards. To me, this format seems like a middle ground between public auctions and private sales, providing us some visibility into private market offerings while retaining elements of confidentiality in bidding. How this will impact the #artmarket? Check out Kyle Castellanos analysis (and concerns) in his latest article: https://lnkd.in/d9Zpwqtr (Image: Sotheby's)

Total combined revenue for the November 2024 New York Marquee auctions at Christie’s, Sotheby’s, and Phillips amounted to $1.3 billion (including buyer's premium), a 41% contraction from November 2023, as the smallest offering of lots since 2007 went to auction. The decline was primarily driven by a steep 50% reduction in the value of the Marquee evening sales, which fell to $668 million from $1.35 billion in November 2023. Despite the disappointing results, the overall performance of individual lots auctioned was notably resilient. Total hammer prices aligned closely with pre-sale estimates, and the number of withdrawn and unsold lots increased only slightly. The heart of the issue, however, was not what went under the hammer, but rather what did not make it to the auction block. The absence of high-value lots not only constrained revenue, but also revealed a vulnerability in the market’s ability to attract and secure top-tier consignments. Source: Pi-eX MESO Report - New York November Marquee sales, Private Collections & Curated Auctions: 2007 - 2024 #fineart #modernart #contemporary #art #auction #publicauction #christies #sothebys #phillips #marqueesales

Sotheby's "Art Moderne et Contemporain Day Auction" in Paris on April 24th, 2024 featured more than 300 lots, and raised over 13 million euros (+182% vs 2023). The impressive result can be attributed to several key factors: - Unlike in previous years, where the focus was predominantly on Impressionist and Modern art, the 2024 day auction was rebranded to include both Modern and Contemporary art. This broader scope attracted a wider audience by appealing to a more diverse collector base. - Although the auction was conducted online-only, Sotheby's offered presale activities typically reserved for live auctions. This approach helped to recreate the emotional engagement and excitement associated with live events, potentially enhancing bidder participation and investment in the sale. - The center of gravity of the European auction world continues to move slowly toward Paris as custom borders between the UK and Europe result in a growing number of artworks offered in Paris, while demand also increases as some potential buyers move away from London. Source: Pi-eX MESO Auction Series Report Paris Spring IMP-MOD & CONT at Sotheby's - Revenue by number of lots #art #fineart #paris #france #impressionist #modern #contemporary #sothebys #daysale #artanalysis #auctionreport #publicauction

At Geneva's fall auctions this year, Phillips defied the market downturn to achieve a historic milestone - surpassing Sotheby’s market share for the first time. The November 2024 Geneva’s luxury item auction series faced significant market challenges, with total combined revenue at the top three auction houses—Christie's, Sotheby's, and Phillips—falling to 185m CHF, a 29% decline compared to 260m CHF in 2023. In this challenging environment, Phillips stood out as a notable outlier, achieving both positive growth (+7%) and a gain in market share. This success was driven by several key factors: - Phillips' addition of a jewellery auction in 2022 began expanding the auction house’s market reach - The addition of a curated watches auction this November added almost 25m CHF in incremental revenue - Phillips prioritised live auctions, while Christie's and Sotheby’s shifted many of their lots online. This year marked a significant evolution in the Geneva auction market, transitioning from a duopoly to a triopoly, with Phillips establishing itself as a key player since re-entering the Geneva market in 2015. Source: Pi-eX MESO report: Geneva November Marquee Sales Results at Christie's, Sotheby's, & Phillips - 2007-2024 #luxury #jewels #watch #jewellery #handbag #auction #geneva #christies #sothebys #phillips

Combined revenues from the October 2024 Marquee series at the top three auction houses in London and Paris contracted by 16% year-on-year totaling £290 million (US$377 million) vs £348 million (US$ 426m) in 2023. In London, sales reached £174 million, experiencing a softer contraction of 9% after last year's 18% decline. Meanwhile, Paris sales contracted by 26% to £116 million, following an impressive 46% growth last year. Despite these fluctuations, Paris' share of the total sales between the two capitals settled at 40% this October - an impressive growth since 2016 when Paris’ share was 16% - confirming a notable shift in the auction market dynamics across Europe. Source: Pi-eX MESO Report: October London Frieze Auction Results at Top 3 Auction Houses – 2007-2024, Pi-eX MESO Report: October Paris Art Basel Auction Results at Top 3 Auction Houses – 2007-2024 #publicauction #christies #sothebys #phillips #london #paris #frieze #fiac #basel #artsales #auctionreport

2023: A SEVERE DOWNTURN IN WATCH AUCTIONS According to the Hammertrack figures, the 2023 results for watch auctions show a severe downturn after the record results of 2022. Global watch auctions from Antiquorum, Bonhams, Christie’s, Phillips (in association with Bacs & Russo), Polyauction and Sotheby’s reached a Total value of CHF 610.0 million in 2023, falling by 13%, after a record 2022 year. Sales were down in the top three auction locations (Geneva, Hong Kong and New York), despite a better last quarter at +8%. Performances were mixed among auction houses. ✅Access the latest edition of the HAMMERTRACK report on : https://lnkd.in/dG3Yryd5 TAKEAWAYS: ➡️ 2023: A SEVERE DOWNTURN IN WATCH AUCTIONS. ➡️ STRONG RESILIENCE OF THE MILLIONAIRE LOTS. ➡️ NEW WORLD RECORDS. ➡️ AMAZING RISE OF THE INDEPENDENTS. ➡️ LESS REMARKABLE WATCH AUCTION EVENTS. ➡️ CHRISTIE’S AS NEW LEADER. ➡️ GENEVA’S: TOP CITY FOR WATCH & JEWELLERY AUCTIONS . ➡️ ENCOURAGING REBOUND IN THE FINAL QUARTER #watchretail #retailing #hammertrack #sothebys #christies #antiquorum #phillips #bonhams

Its always interesting to see market trends...

Sotheby’s Inaugurates the Rough Diamonds Exhibition and Sale on April 08, 2024 in Geneva, Switzerland. Sotheby’s has officially opened the doors to a new unconventional and subterranean watch exhibition leading to an auction later this week, designed to showcase an extraordinary selection of avant-garde and overlooked vintage watches. Like rough diamonds, these watches are still waiting for their time to be rediscovered, reappraised and shine to their fullest potential. This hyper-curated sale will offer only 24 references – one for every hour in a day – with estimates ranging from CHF 2,000 to CHF 100,000 and production times between the early 1950’s through to the 1990’s. Although unable to generate much interest when they were first released for being seen as ‘too much’ or ‘too weird’, they all were issued by prestigious watchmakers such as Patek Philippe, Audemars Piguet and Piaget. All 24 watches will be showcased underground, within a bespoke and unusual exhibition setting, opening on Monday 8 April and running to Wednesday 10 April (4pm to 8pm daily), before the auction takes place on Thursday 11 April from 6pm in the same underground location – a wine cellar. (Photo by Harold Cunningham/Getty Images for Sotheby's) #sothebys #geneva #watches #exhibition #avantgarde #events #switzerland #photography #assignments #entertainment Getty Images

Auction Analysis: New York Marquee Evening Auctions – November 2024 The lingering effects of nearly two years of market contraction were still evident in this week’s series of Evening Sales at Christie’s, Sotheby’s and Phillips in New York. Total evening sales (excluding buyer’s premium) reached $906 million, marking a decline of 42% compared to last year’s November season, but only 3% below the results in May this year. This report presents an in-depth comparative analysis of the Impressionist, Modern, Post-War and Contemporary art evening sales at Sotheby’s and Phillips in New York in November 2024. The analysis also provides analytical tools looking at 10-year annual trends between 2015 and 2024. https://lnkd.in/eK8DdDck #artmarkettrends  #auctiontrends  #artmarket #art #contemporaryart  #auctionanalysis #newyorkmarqueesales