Nov 22, 2012 11:15:37 AM
The search for the suitable price isn’t always easy
Auctioneer Christie’s from Geneva reported this week to have sold a Patek Philippe formerly owned by musician Eric Clapton for an incredible amount of 2,85 Million Euro. But also watches by german manufacturer A.Lange und Söhne from Glashütte are apparently worthy assets.
Mr. Clapton purchased the 25-year-old watch in 1989 from a private seller for an unknown amount; earlier that year this wristwatch had been dealt by auction for 200.000 Euro. This watch won its worth by the fact, that it was the property of a famous celebrity like "Mr. Slowhand".
Having been the property of a famous person is not the only reason for watches to rise its value. This week a merely 16-year-old watch by German manufacturer A. Lange & Söhne was sold by auction at Frankfurt/Germany for 248.000 Euro. During the production period the “Pour le Mérite” with its tourbillion represented the top-end of 1994's collection. Limited to only 50 odds it was built till 1998. The auction price means that the watch now tripled its initial worth. Another watch by the same manufacturer, called “Mondphase”, in the year 2000 limited to 250 pieces, was sold during the same auction-event for almost 20.000 Euro, meaning a doubling of its initial price.
The value of a watch is not simply destined by the celebrated pre-owners list though - lessons to be learned at the auction day of Mr. Clapton's Patek Philippe: another auction on the same day, another model of this swiss manufacturer from 1952 generated 3.1 million Euros. The unique platinum-watch had been designed shortly after the Second World War for a collector from the United States and was now acquired by an investment company from Luxemburg. Christie’s generated a total of 22.5 million Euro with all watch-auctions this day.