May Watch Auctions 2015: Steel Is The New Gold And How China Views This
The spring watch auctions finished about two weeks ago, leaving behind the impression that steel is the new material of choice. Indeed, a monopusher chronograph by Patek Philippe sold for 4,645,000 Swiss francs, a world record. Other steel models also attained amazing results, sometimes up to five times their official estimates. To explain this phenomenon, rarity remains a major criterion, but watch our video for others.
At Phillips, Aurel Bacs (Bacs & Russo) made a superlative comeback to the rostrum with a smaller, yet finer selection of the best models, all of which sold for 29.6 million Swiss francs: more than Christie’s, Sotheby’s, and Antiquorum all together. The watch auction sales held in Geneva are globally considered the best ones. Many passionate collectors travel far to participate in them. We met William Bai, one such traveler. Bai is a Chinese independent journalist specialized in watches and watchmaking. We asked him about the interest of Chinese people in vintage watches and watch auctions.