Celebrating 50 Years of excellence 2024 Achievements

2024 marked a monumental year for Antiquorum, as we celebrated our golden jubilee—50 years of leading the global watch auction market. Since our establishment, we have not only been a trusted arbiter of value but also a dynamic force shaping the horological world. Amidst market evolutions and the rediscovery of timeless treasures, Antiquorum’s journey stands as a testament to resilience, elegance, and a commitment to excellence.

A Market Redefined: Resilience and Emerging Trends

Since the market downturn in 2022, the watch industry has experienced a profound transformation. As is often the case in times of crisis, collectors and investors have refocused their attention on secure, high-value investments—watches that boast enduring design, robust craftsmanship, and long-term appeal. At the same time, there has been a noticeable shift toward distinctive, boldly shaped timepieces that deviate from traditional designs, reflecting a growing desire for individuality. The most exciting development is the emergence of a new generation of buyers—young, grounded individuals who are less inclined to engage in speculative bubbles and more focused on authenticity and lasting value. Their expectations have become clearer than ever: they seek watches that are not only durable and in excellent condition but also stand out, offering a perfect balance of timeless elegance and personal distinction.

Back to Vintage

Vintage watches experienced a remarkable resurgence.

Rare and historic models like the Rolex Zerographe Ref. 3890 sold significantly above their high estimate, here at 212.500 CHF. There is no denying that the Rolex Zerographe (also known with an observatory dial as the Centregraph) has remained one of the biggest mystery and one of the most important watches made by the firm. Featuring a fly-back second that is reset by the pusher at 2 o clock, it is the first known Rolex featuring this complication and was only available in steel.

The iconic fresh to the market Patek Philippe Ref. 1463, celebrated for its technical brilliance, drew enthusiastic bidding. Meanwhile, the Rolex Cosmograph Daytona Paul Newman Ref. 6241 reached an impressive hammer price, highlighting the enduring allure of craftsmanship from a bygone era. Made mostly for the US market, the 6241 was only produced for a period of three years featuring pump pushers and the iconic black bezel. Scholars estimate that in total about 2250 pieces were produced but 14k versions represent approximately only 400 pieces. Versions fitted with a Paul Newman dial probably represent about 10 percent meaning about only 50 pieces were ever produced which explains itw as hammered at 200’000 CHF.

Similarly, the Rolex Daytona Ref. 6263, valued for its blending of classic design with functional elegance, achieved results that exceeded expectations, underscoring its status as a collector’s favorite.

Elegance Beyond Time: A Focus on Provenance and Design

True elegance lies in the ability to transcend fleeting trends, and Antiquorum has consistently curated timepieces that stand as hallmarks of this principle. A striking example is the Blancpain Fifty Fathoms 50th Anniversary Ref. 2200A, whose historical significance and engineering precision pay homage to the origins of professional diving watches. This piece performed exceptionally well at auction, sold at 107.584 EUR (twicer than the high estimate), reinforcing its status as a milestone in horological history. Former property of Bob Maloubier himslef, this watch was part of the watchmaking and human history.

Talking about provenance, equally captivating, the Vacheron Constantin former property of Jerry Lewis (March 16, 1926 – August 20, 2017) fetched a strong result, with collectors valuing the legacy of the manufacture and of “The King of Comedy ».

Cartier: The Rising Star

Antiquorum’s relationship with the maison dates back to 1996 with the landmark auction, The Magical Art of Cartier, cementing Cartier’s place in horological history. Today, collectors are drawn to Cartier for its perfect amalgamation of history, artistry, and timeless design.

Cartier’s revival in recent years has been nothing short of phenomenal, driven by a renewed appreciation for its unique blend of historical significance, artisanal craftsmanship, and timeless design. Key milestones in this resurgence include the strong performance of iconic models like the Cartier Bamboo Jumbo, which achieved five time its high estimate at 50.000 CHF, in November 2023, surpassing a world record at the time.

Technical Brilliance and Artistic Craftsmanship

Antiquorum has always celebrated technical milestones and artistic craftsmanship, distinguishing itself from other auction houses through a meticulous focus on provenance, detailed scholarship, and a dedication to educating the collector community.

Know-How in Movements: Pioneering World Time

The extraordinary creations of Louis Cottier’s  (1894 – 1966) world-time watches system invented in 1935, such as the Patek Philippe Ref. 2523, reached impressive hammer prices, with one example selling for CHF 1,910,000, well above its low estimate. Similarly, the Patek Philippe Ref. 605 HU Cloisonné,  unknown, fresh to the market example, the first example known to the market featuring an enamel cloisonné dial representing the world in pink gold, a historcal piece celebrated for its exceptional craftsmanship and artistry, achieved CHF 3,050,000. These groundbreaking designs, which announced the modern concept of world time, remain unmatched in their combination of technical precision and aesthetic appeal.

On a more contemporary note, two exceptional timepieces from F.P. Journe and Richard Mille have undoubtedly captured the attention of watch enthusiasts. The F.P. Journe Tourbillon Souverain Ref. T in platinum and the Richard Mille REF. UP-01 Ferrari, an ultra-thin limited edition of just 150 pieces, crafted in titanium, are truly remarkable watches that cannot go unnoticed.

The Tourbillon Souverain holds a special place in F.P. Journe’s legacy. Apart from the first 20 “Souscription” Tourbillons produced by Mr. Journe, the Tourbillon Souverain was his first commercially available model, debuting at Basel in 1999. It was equipped with the renowned remontoir d’égalité mechanism. Produced until 2003, when it was succeeded by the updated version, the “Remontoir d’Egalité avec Secondes Mortes,” this early example, dating from 2001, is the 91st watch ever made. Originally purchased by a Swiss collector, the piece has been meticulously maintained in excellent condition, with crisp hallmarks still visible. It is also fitted with the highly coveted yellow dial, a feature preferred by collectors worldwide. This exceptional example was sold for CHF 475,000 in the Geneva May auction, a testament to its enduring appeal and rarity.

Enamel Work: Artistry at Its Peak

Antiquorum’s offerings of enamel masterpieces underscored the art’s enduring allure. The Patek Philippe Nymphenburg Porcelain Ref. 1660M achieved remarkable results, showcasing the intricate beauty of hand-painted designs. Similarly, the Patek Philippe Ref. 866-71 “La Calèche”, featuring enamel work by Suzanne Rohr, demonstrated the pinnacle of métier d’art craftsmanship, blending technical expertise with artistic expression.

Following the two recent world records set by Antiquorum for Suzanne Rohr pocket watches—Romanshorn by J.J. Wetzel (November 5, 2023, Lot 365) and Woman with a Water Jug by Vermeer (May 7, 2022, Lot 200)—we were thrilled to present another remarkable, previously undiscovered masterpiece by the renowned enameller Suzanne Rohr. This piece was consigned by the original family who had preserved it in their safe for the past 30 years, as evidenced by the pristine and crisp hallmark on the bow, as well as the gold case that has developed a warm patina from years of untouched preservation.

The enamel scene depicts a horse-drawn carriage with two ladies and three gentlemen, inspired by the original painting La Calèche by Horace Vernet (circa 1814). Suzanne Rohr’s extraordinary skill is on full display, capturing the essence of an afternoon sky with exquisite detail, from the foliage and the spokes of the wheels to the horses’ flowing manes and the intricate reins. It is worth noting that while Mrs. Rohr often created works inspired by the same artist, this is the only known pocket watch featuring an enamel scene inspired by Vernet’s work. The bidding soared to an impressive CHF 268,750, a fitting tribute to the piece’s rarity and artistic value.

2024 and Beyond: A Legacy of Excellence

As we reflect on five decades of achievements, Antiquorum remains steadfast in its mission to curate, preserve, and celebrate the finest timepieces the world has to offer. From vintage treasures to groundbreaking innovations, our legacy is one of passion, precision, and an enduring commitment to the art of watchmaking. Here’s to the next 50 years of defining and refining the horological world.

Heritage Preservation & Watch Auctions

From Aristotle’s Poetics to Hegel’s Aesthetics, more than 2,000 years of philosophy have drawn a line between the Fine Arts, considered noble because they presuppose intellectual activity, and craftsmanship, which lacks the essence of art. As Diderot and d’Alembert’s Encyclopédie put it, craftsmen are ‘workers who practice those arts that require the least intelligence’. Yet watchmaking expertise is so admired and fascinated that it seems to escape this vision. Watchmaking is consistently characterised by ambitious standards, as demonstrated by the definition of the term ‘Artisan’ in the Encylopédie, which states that ‘a good shoemaker is said to be a good craftsman, and a skilful watchmaker is said to be a great artist1’. Despite this thirst for artistic recognition, watchmaking still suffers from an almost total lack of heritage. Unlike the fine arts, which have benefited from institutional heritage recognition for several centuries, watchmaking has struggled to benefit from the concepts of conservation or restoration, or from public acquisition policies, which are so obvious in the case of the fine arts.

Antiquorum, a privileged partner of the manufacturers

Watchmaking owes its heritage recognition to the initiative of private institutions and collectors, who have moved it from curiosity cabinets to museum showcases. In 1902, under the impetus of the La Chauxde- Fonds School of Watchmaking, the fi rst watchmaking museum was created. At the same time, it was the watchmakers who built up the most important private collections. Building a heritage also means building legitimacy.

As a specialist in watch auctions since 1974, Antiquorum has always made it a point of honour to contribute to this heritage- building work, in particular by organising themed sales, as we presented in our last issue. The auction house not only contributes to the enhancement of watchmaking heritage through its catalogues and research, but also constitutes a lasting and reliable source of heritage for watch manufacturers.

In 1994, for example, Antiquorum had the opportunity to illustrate the virtuosity of Vacheron Constantin during the famous and very fi rst thematic sale ‘The Art of Vacheron Constantin’, in tribute to the brand, where no fewer than 286 timepieces were auctioned on 13 November at the Hôtel des Bergues. It was on this occasion that the ‘Grande Complication’ pocket watch commissioned in 1946 for Farouk I (1920-1965), King of Egypt, was sold for CHF 1,158,500. A masterpiece of watchmaking, this timepiece will remain the most complicated pocket watch ever produced by Vacheron Constantin in the 20th century.

The Vacheron Constantin private collection, initiated in 1906 following the Milan International Exhibition (28 April – 11 November 1906), continues to grow today. One of the most important arguments for its legitimacy is its colossal treasure trove of archives: correspondence, plans, photographs, as well as all the manufacturing registers dating back to the eighteenth century, all grouped together on more than 420 metres of shelving, roughly the length of an Olympic stadium. It is with this heritage in mind that the Manufacture off ers all its customers an exceptional restoration service: any watch produced between 1755 and the present day can be repaired or restored. Putting this knowledge to the test, the recreation of the American 1921 watch, celebrating its 100th anniversary, was an opportunity to redesign this emblematic timepiece identically, using period machine tools and components.

We are pleased to present here Antiquorum’s contribution to Vacheron Constantin’s heritage through some of the pieces we have had the honour of off ering for sale and which were purchased by Vacheron Constantin for this private collection.

Antiquorum at the service of Vacheron Constantin’s heritage

Founded in 1755 by Jean-Marc Vacheron (1731-1805), Vacheron Constantin is the oldest watch manufacturer that has never stopped producing watches. The company’s long history has given it not only considerable legitimacy on the international stage, but also, and above all, unrivalled expertise. A quest for excellence that has endured for more than 260 years, as evidenced by François Constantin’s words to Jacques-Barthélémy Vacheron (1787-1864) – which have since become the company’s motto – in a letter dated 5 July 1819: ‘Do better if possible, which is always possible’.

Enamel Watches

But before going into partnership with François Constantin (1788-1854) in 1819, the company was called ‘Vacheron Chossat & Cie’ for a short period (1816- 1819), after Charles-François Chossat, Jacques-Barthélémy Vacheron’s brotherin- law, with whom the latter went into partnership in 1816. A short interval that serves as a chronological marker for watches from this period, which are extremely rare for obvious reasons. The Vacheron- Chossat enamelled yellow gold minute repeater pocket watch (No. 6498), sold for CHF 33,750 on 12 May 2013 (1) is a superb testament to this association. The fishing scene depicted is proof of the high quality of workmanship in painted enamels from the earliest days of the Manufacture. A tradition that has been perpetuated over time, as shown by the superb Ref. 4730 ‘North America’ in yellow gold with a cloisonné enamel dial (No. 463128, case No. 323580), made in 1951 and sold for CHF 115,000 on 3 April 2005 (2). The Manufacture produced very few watches with cloisonné enamel dials. As its name suggests, here it depicts a map of North America. Typical of the work of the Stern brothers, this design is in keeping with Vacheron Constantin’s taste of the 1950s. Unlike Patek Philippe, the Manufacture favours models representing the different continents, models resembling Gothic stained-glass windows, seascapes and Gauguin-style landscapes.

Witnesses of History

A Manufacture that has been in existence for more than two centuries has had the opportunity to be both a witness to major historical events and a player in all stylistic evolutions.

For example, the ‘Cupidon à l’hôtel de l’Amour’ ladies’ watch (No. 368871, case No. 229848) made in 1916 (3) is a perfect illustration of the taste for the French Second Empire. Set with diamonds, it is what is known as a ‘hidden beauty’, the cameo revealing the watch. A technical masterpiece, notably with the practical and elegant extensible bracelet, which was a novelty at the time, it also demonstrates Vacheron Constantin’s interest in its female clientele.

Another aesthetic, the rock crystal skeleton clock with 30-day constant-force power reserve (4), is an ode to the Art Deco style that dominated the western world. It is also an incredible technical feat achieved by Philippe René Jaccard, since a power reserve of 30 days in a single winding is highly unusual for a clock of this size: two spring barrels are used, and to avoid changes in rhythm caused by variations in the energy supplied by these two springs, there is a constant-force escapement designed to give precisely measured impulses to the balance wheel.

Thanks to its archives, the Heritage Department is therefore able to authenticate all the watches produced by the Manufacture using case and movement numbers: a considerable source of historical information. This is how we find the yellow gold ‘Empire’ pocket watch of Agénor Parmelin (1884 – 1917) (5) the famous Swiss aviator, 5 the first to fly over Mont Blanc in a Deperdussin monoplane. The dedication to this achievement, a gift from the Republic of the Canton of Geneva, is engraved on the bowl.

To read more, visit online version of our magazine Vox click on : Vox Magazine

Collection of a swiss gentleman

In the 18th and 19th century, while European aristocrats and rich bourgeois collected Chinese porcelain and lacquer panels, the Middle Kingdom, fascinated by Western watchmaking, bought pocket watches in large quantities, often with rich enamel decoration. These are known today as Chinese watches or watches made for the Chinese market. This collection of Chinese pocket watches has been consigned by one of our oldest and most faithful client. We are presenting just a small part of his collection which will testify, without a doubt, of his impeccable taste.

The notion and apprehension of time is primordial. It is what draws the characteristic or even civilizational features of a people. For example, if in the West we have a linear vision of time, this is not the case in the East, more precisely in the Sinic cultures, where time is perceived in a circular sense.

When the first diplomatic relations with China were established, during the reign of King Louis IX of France (1214-1270), animated pieces had their role to play. In 1253 Louis dispatched an ambassador to Manghu Khan, the Grand Khan of Tartary. This was the epoch of the great Mongol incursions which swept over Russia as far as Kiev, and southward as far as Poland and Hungary. An account of the voyage by the King’s ambassador, Guillaume de Rubruquis, a Flemish priest and traveler, is conserved in the British Museum. Originally in Latin, it was translated into English in 1629 and into French in 1839. This document states that among the prisoners of the Tartars at Karakarum was a certain Guillaume Boucher, a skilled goldsmith from Lyon who won the favor of the emperor of Tartary by constructing for him a monumental and marvelous automaton. Four silver lions lay at the foot of a great tree with boughs bearing silver leaves and fruits, and mare’s milk flowing from their half-opened jaws. On the inside, four conduits rose to the top of the tree and descended in the form of gilded serpents. Out of their mouths ran precious liqueurs to fill silver vessels. At the top, an angel sounded a trumpet when the cupbearer gave the order to pour out the draught. The apparatus was activated by means of a bellows worked by a man hidden in the base of the tree. Servants replenished nearby reservoirs with the liqueurs for the respective conduits.

Although the first connections between China and the West were established in the 13th century, the first clocks and watches were imported via Portuguese trading posts in the 16th century (1514), under the Ming dynasty, especially with the Jesuits ‘arrival in Beijing, such as Father Matteo Ricci (1552-1610). Timepieces have long been gifts of predilection. Symbols of power, of knowledge, messengers of culture, tokens of friendship, and gauge of peace, they never failed to astonish and to please.

At the threshold between these two worlds, pocket watches destined for the Chinese market are a splendid testimony to Swiss know-how exported abroad as early as the 18th century. They are sought after by many collectors due to the richness of the engraved and enameled decorations, punctuated by seized golds and surrounded by half pearls. Actually, these orders were extended to an important part of Asia, in India or Persia. The two main production centers for pocket watches destined for the Chinese market were London and Switzerland.

During the 18th century the English made significant efforts to expand their trade through China. London clock-makers played a prominent role in the popularity of ‘Curiosities’ so admired by the Chinese. The English East India Company, created in 1600, seized control of large parts of the Indian subcontinent, colonized parts our Southeast Asia and Hong Kong. Strong commercial and diplomatic ties between Britain and the Chinese court ensured that many watches, despite being of Swiss origin, were signed with English names and marked London.

British hallmarks were sometimes faked or imitated, especially in the 18th and early 19th centuries when English watchmaking enjoyed a reputation as the finest there was. Marks looking like British hallmarks were out into watchcases to lead people to think that a watch was of English make. Sometimes pseudo ‘‘hallmarks’’, marks that were meant to look somewhat like hallmarks without trying to be out-and-out fake hallmarks, were stamped in order to make a case look more impressive. Most of the time these pocket watches were made in China, in silver or gilded silver, but with the same characteristics as the pocket watches made in Europe for the Chinese market.

However the Continental Blockade, from 1806 to 1814, broke the relationships between Geneva and London. After 1815, the workshops of Piguet & Meylan, Jaquet Droz & Leschot in Geneva, James Cox or Ilbery in London and Bovet in Fleurier distinguished themselves by the quality of their creations, often enameled in Geneva. At its peak around 1840, trade, although disrupted by the opium wars, continued with Switzerland. The influence of Edouard Bovet was such that “Bo Wei” is the Cantonese word for “watch” itself. Contrary to one might think, Western watchmakers did not adopt forms from their intended market. Chinese taste matched the European style with fantastical forms, arabesque floral arrangements with colorful gem set borders.

After the Boxer Rebellion in 1900, and then the Socialist Revolution, most of the collections were sold.

TO BE PRESENTED IN GENEVA MAY AUCTION 2023

Preview : May 10th – 15th

Antiquorum Genève SA

3 rue du Mont-Blanc

1201 Genève

Auction : May 14th – 15th

Sunday May 14th at 5PM – 1st session

Monday May 15th at 10AM – 2nd session

Monday May 15th at 2PM – 3rd session

Hôtel Beau-Rivage – Salon de l’Impératrice

13 Quai du Mont-Blanc

1201 Genève

Ilbery London, Switzerland, CHINESE YOUNG LADY DRESSED IN FORMAL COURT COSTUME, made for the Chinese market, circa 1820

 Estimate : 60.000 – 100.000 CHF

Very fine and extremely rare 18K gold and enamel, pearl-set, centre-seconds watch with duplex escapement. Empire case, the split-pearl set bezel, pendant and bow with blue and azure champleve enameled decoration the scarlet flinque enameled band with split-pearl inlaid decoration, the enamel back panel painted with the portrait of a Chinese noble lady on a balcony in a Chinese landscape.

William Ilbery, London, recorded as working in 1780, died 1839.

Specialized in watches for the Chinese Market, and worked closely with contacts in Switzerland both for movements and enamel work. The political and commercial relations between Britain and China were so essential, that even the exceptionally talented Jaquet-Droz established a branch in London to take advantage of the China trade. The best period of watchmaking for the Chinese Market coincides with Ilbery’s success –  in 1790 – 1830 – and with the work of the finest enamel artists – Dupont, Richter, Lissignol etc. Almost without exception, the subjects depicted on these cases were taken either from classical mythology, Swiss landscape painting, or based on stories of an allegorical nature – Faith, Hope, Love etc. Examples with a portrait are virtually unknown for the time, and until the watch now offered for sale appeared, only one other was apparently known to have survived. At the Christie’s auction of April 20, 1991 in New York – Important Clocks and Watches, lot 89 was a virtual pair to the current lot, but with the back panel depicting a portrait of a Chinese gentleman, also dressed in formal Court costume (present whereabouts currently unknown). Although not a pair in the generally accepted sense (ie. the identical subject but painted in reverse), they must originally have been commissioned for the saute customer and presumably the couple depicted in the portraits. Frequently sequential numbering of the movements can be found on ‘pairs’ of watches, but it does not appear to have been an infallible rule. Since there is no tradition of Swiss enamellers working in China at the beginning of the 19th century, it is interesting to speculate as to how the ‘master’ portraits were communicated to Europe. Towards the end of the 19th century, photography was used, and drawings do exist from the 1860’s or later (see A. Chapuis, la Montre Chinoise, Neuchatel, p.187, fig.148). In view of the rich colouring of the costume, and the incorporation of flecks of gold to simulate braid, it seems possible that the portraits may have been taken from glass paintings, a technique that enjoyed considerable popularity in China. Plate glass mirrors were exported from Europe to be partially decorated with the same technique and returned for framing in the chinoiserie style.

Edouard Juvet, Switzerland, THE NOBLEMAN, made for the Chinese market, circa 1870.

Estimate : 40.000 – 60.000 CHF

Very fine 18K gold and enamel centre-seconds watch, with duplex escapement.
Pendant and bow with champleve enamelled decoration, the back enamel panel with a fine painted scene depicting a nobleman helping his loved one to cross the stream. Hinged polished-gold cuvette with bright cut and engraved decoration. The scene depicted in the neo-rocaille, neo-Louis XV style, which was very in vogue in the 19th century, demonstrates the taste of the Chinese market for this type of motif.

Edouard & Léo Juvet 

One of the important Swiss horological families working for the Chinese market. Edouard Juvet (1820-1883) was first established in Buttes in 1842, but in 1844 moved his workshop to Fleurier. He began making ”Chinese” watches in 1856. Edouard’s sons Ami-Louis and Léo traveled to China to work in the family firm. When Ami-Louis died there, Léo (1848-1891) took his place. In Shanghai, the Juvets were rivaled only by the Bovets, yet the two families maintained friendly relations. The Maison Juvet prospered, opening branches in Tien-Tsin and Saigon, to the extent that in 1872 Léo wrote : “Our watches sell like salt”. In 1873, Edouard Juvet registered a trademark in Chinese characters, which was used on the company’s products. He granted his son Léo power of attorney in November 1875, and after his death in February 1883, Léo succeeded him at the head of the firm.

Ilbery London, Switzerland, CALM HARBOR, made for the Chinese market, circa 1820

Estimate : 60.000 – 100.000 CHF

Fine and very rare, 18K gold, painted on enamel and pearl-set pocket watch with duplex escapement. The enamel attributed to Jean-Louis Richter. “Empire” style case, the hinged back decorated with a finely painted view in the manner of Claude Vernet of people washing their clothes from a boat in a calm harbor landscape with mountains and a small village in the distance. Hinged and sprung gold cuvette attached to the movement ring.

Jean-Louis Richter (1766-1841)

Learned his art under David-Etienne-Roux and Philippe-Samuel-Théodore Roux, becoming a most renowned enamel painter. His specialty was the painting of landscapes and particularly lake-side scenes and marine-scapes, often representing ships in a harbour or battles with fighting Men-of-War, but, on occasion, also portraits and hunting scenes. He did not often sign his work, but it is clearly recognised as being in his hand from the style and quality of the painting. He applied his art principally to watch cases and snuff boxes and these were largely destined for the Chinese, Turkish, British and Italian markets. In 1828 he was in partnership with Aimé-Julien Troll (1781-1852) and one can find work signed? Richter et Troll?. Richter, like other great enamel painters of the time, often found inspiration for his work from paintings or engravings by the artists then in fashion particularly Claude Vernet.

William Ilbery (ca. 1760-1839)

Active in London from 1780 in Goswell Street, he moved to Duncan Terrace towards the end of the 18th century. Following James Cox in London and Jaquet Droz in Switzerland, he also specialised in the production of luxury watches for the Chinese Market. His early production was very much in the English style, featuring a full plate movement and an English type single wheel duplex escapement. However, for his highest quality watches, he incorporated a spring detent escapement. Later, the watch movements he produced were much inspired by the Lepine caliber with free-standing barrel, as were Jaquet Droz’s Swiss production signed in London and that of William Anthony, who worked in London. The cases of his watches were sumptuously decorated by the best Genevan enamelers, such as Jean-Francois-Victor Dupont, who usually signed his work, and Jean-Louis Richter, who signed rarely. He organized the production in Switzerland, mainly in Fleurier, of profusely engraved movements for the Asian market. He was followed in this by makers such as Bovet and Juvet who also worked in Fleurier (Val de Travers). Ilbery can therefore be considered one of the most representative makers of ”Chinese” watches. He seems to have maintained close contacts with the continental trade since a watch signed ”Ilbery Paris” is known and Ilbery & Son are recorded in London and Fleurier, as well as in Canton.

Bovet Fleurier , Switzerland, THE SHAKESPEARIAN TRAGEDY, made for the Chinese market, circa 1824

Estimate : 50.000 – 100.000 CHF

Very fine and important 18K gold and enamel pearl-set watch, made for the Chinese market. Empire shaped case with split-pearl set bezels and pendant, the band and bow of red translucent enamel over engine-turning with split-pearl inlaid decoration, the back enamel panel finely painted with a scene of a Shakespearian Tragedy. Hinged gold engine-turned cuvette.

“The Shakespearian Tragedy”

Although their movements were generally produced in Fleurier (Val de Travers), Switzerland, these top quality watches, made for the Chinese Market during the first quarter of the 19^th century, were decorated in Geneva by the best craftsmen of the time. Enamel painters such as Richter and Dupont used to find their inspiration in the work of old master painters such as Van der Myn (1684-174 I ), Giovanni Batista Cipriani (I 727-1785), John Francis Rigaud (1742-1820), John 1-loffner (1748-1810, Francesco Bartolozzi (1727-1815 and William Hamilton) . The enamel back of each single case is in itself a true master piece of miniature painting featuring seaside landscapes, naval battles, mythological and allegorical scenes evoking love, such as “The rapt of Helen by Paris” taken from the engraving by Guido Reni (1575-1642), children at play, and illustrations of Shakespearian Tragedies.

Bovet
A watchmaking dynasty founded by Edouard, Frédéric, Alphonse, Gustave, Charles-Henri, and Caroline Bovet, of Fleurier. In 1822, a Bovet partnership was founded for the Chinese watch trade in Canton. In 1840, Bovet Frères et Cie was established in Fleurier, and in 1864, the Bovet watch production was sold to Bovet’s manufacturing inspectors in Fleurier, Jules Jéquier and Ernest Bobillier, soon joined by Ami Leuba. In 1888, Bovet Frères was founded under the direction of Alexis Landry, who served his apprenticeship in Fritz Bovet’s workshop in Fleurier, producing ebauches for Chinese watches and silver cases. Alexis Landry formed a partnership with Albert and Jean Bovet, specializing in complicated watches and chronographs. In 1901, the Bovet trademark was acquired by César and Charles Leuba, sons of Ami Leuba. In 1918, Jacques Ullmann & Co. of La Chaux-de-Fonds bought the Bovet brand from Leuba Brothers, and in 1948, Favre-Leuba took over the company and acquired the first production plant. In 1966 Favre-Leuba sold the Fleurier plant, and in 1989 Parmigiani acquired the Bovet name.
A limited company registered as Bovet Fleurier S.A. was formed in 1990, using the Bovet trademark. In 1994, Roger Guye and a partner bought Bovet Fleurier S.A. and opened a branch in Geneva. Pascal Raffy became the majority shareholder and President in 2001. Today, Bovet timepieces are widely available in the world’s major destinations. Eager to maintain its historical roots in the Far East, the company has subsidiaries in Hong Kong and Japan, and delivers its collection to select distributors in Singapore, Taiwan, the Middle East, Turkey, Russia, the United States, London, and Geneva.

Ilbery London, Switzerland, ILBERY, SOLID GOLD MOVEMENT WITH RICHTER ENAMEL SCENE, made for the Chinese market, circa 1810

Estimate : 40.000 – 80.000 CHF

Very fine and rare, pocket watch made for the Chinese market, special “solid red gold” movement; 18K yellow gold and enamel; the enamel attributable to Jean-Louis Richter. 18K yellow gold and enamel, open-face, key-winding, round-shaped, pocket watch with special solid gold movement and subsidiary seconds at 6.

An Extraordinary Discovery

This watch is the “sister” of a piece we sold in this same auction room in Hong Kong on April 28, 2019 (lot 607).

The enamelled scene of the two watches is mirrored; the image being reversed like the reflection of each other in a mirror. This is one of the specificities of the Genevan production for the Chinese market, which often passed through the London trade before being exported to the Middle Kingdom. It is also worth noting that both of these timepieces are equipped with extraordinary movements built in solid gold. We are thus dealing here with one of the summits of the history of watchmaking at the beginning of the 19^th century.

The watch is accompanied by a box with two places, expressly made to keep the two pieces together. On the back of this box is an antique label with a handwritten inscription: “Numa Jacot / Fleurier”. This may be the name of a former owner of this pair of watches, now separated from each other but hopefully reunited one day. It is difficult to say whether this box dates from the time of the production of the watches or rather from the middle of the 19th century; probably the time of their return to Europe following the vicissitudes of the Celestial Empire in the 19th century.

Some enlightened amateurs will tell us that the numbers of the movements are not consecutive, that they cannot be pieces born together, like two twins. The studies we have been conducting on so-called “Chinese” watches for decades lead us to reply that if this seems illogical, it is not impossible. This is all the more true since we are dealing here with extremely rare movements whose production must have taken much longer than that of classic “Chinese” movements. Several pairs of watches preserved in the Patek Philippe Museum in Geneva demonstrate this because the numbers of their movements are not consecutive.

Note also that this pair of watches is the only one known to date with gold movements. In fact, we have listed only seven of these movements, four of which are signed by “Ilbery London”. Despite this signature, we know today that this production is entirely from Geneva.

For more information, we refer our readers to our 2010 exhibition catalogue: Tellier, Arnaud, & Didier, Mélanie, The Mirror of Seduction, Prestigious pairs of “Chinese” Watches, Geneva, Patek Philippe Museum Editions, 2010.

William Ilbery (c.1760-1839)

Active in London from 1780 in Goswell Street, he moved to Duncan Terrace towards the end of the 18th century. Following James Cox in London and Jaquet Droz in Switzerland, he also specialised in the production of luxury watches for the Chinese Market. His early production was very much in the English style, featuring a full plate movement and an English type single wheel duplex escapement. However, for his highest quality watches, he incorporated a spring detent escapement. Later, the watch movements he produced were much inspired by the Lépine calibre with free-standing barrel, as were Jaquet Droz’s Swiss production signed in London and that of William Anthony, who worked in London.

The cases of his watches were sumptuously decorated by the best Genevan enamelers, such as Jean-Francois-Victor Dupont (1785-1863), who usually signed his work, and Jean-Louis Richter (1766-1841), who signed rarely. He organized the production in Switzerland, mainly in Fleurier (Val-de-Travers), of profusely engraved movements for the Asian market. He was followed in this by makers such as Bovet and Juvet who also worked in Fleurier. Ilbery can therefore be considered one of the most representative makers of ‘‘Chinese’’ watches. He seems to have maintained close contacts with the continental trade since a watch signed ‘‘Ilbery Paris’’ is known and Ilbery & Son are recorded in London and Fleurier, as well as in Canton. His son, William Ilbery (c.1780-c.1851), works with him.

The case of our watch is made in the same spirit as that of the watch signed Ilbery, London, No. 5 995, whose movement (gilded brass, full plate, with fusee and chain) is fitted with a spring detent Peto cross escapement. The enamel painting, also attributable to Jean-Louis Richter, represents a scene with children “Feeding the Chicks”. This case is also of “Consular”-type with scalloped edges (see: Antiquorum, Geneva, auction, April 13, 2002, lot 61, sold for the amount of CHF 245 500.-). Ilbery seems to have used this type of case only for its more luxurious watches; those with “chronometer” movements or “solid red gold” movements.

Only very few Ilberys watches with “solid red gold” movements are known to-date. This is the fourth movement known duly signed by Ilbery, London. The others are unsigned. All cased with painting on enamel attributable to Jean-Louis Richter, Geneva .

The charming painted enamel scene decorating the present watch derives from English genre paintings by artists from the Royal Academy, such as Joshua Reynolds (1723-1792), Francis Wheatley (1747-1801), William Hamilton (1751-1801), William Redmore Bigg (1755-1828), George Morland (1763-1804), etc., who specialised in images of romanticised English rural life in the last quarter of the 18th century.

Their paintings were engraved by Francesco Bartolozzi (1727-1815), Thomas Burke (1749-1815), John Raphael Smith (1752-1812), Peltro William Tomkins (1760-1840), Henry Gillbank (fl. late-18th and early-19th c.), Thomas Gaugain (1756-c.1810), etc., and sold as prints which were published by John Boydell (1719-1804) and Josiah Boydell (1752-1817), engravers and print-sellers, James Daniell (fl.1771-1814), John Brydon (fl.1783-1806) and others.

These genre prints were enormously popular and were used as models for Genevan enamelers, including Jean-Louis Richter (1766-1841).

Objects of Virtue

These watches, made for the Chinese market, testify to an exceptional know-how which is nowadays inherited by the craftsmanship – “Métier d’art” – departments of the manufactures. This craze for rich enameled decorations and cases set with pearls and gems extended to a whole range of objects of virtue – “objets de vertus” –, also known as vitrine objects, such as snuffboxes and music boxes.

Attributable to Piguet et Meylan, Switzerland, AUTOMATON AND MUSICAL SNUFF BOX, made for the Chinese market, circa 1820

Estimate : 40.000 – 80.000 CHF

Very fine and unusual 18K gold and enamel pear-set snuff box with eglomise glass panels, built-in centre seconds watch and musical automaton scene. Rectangular shapped case with English prestige marks, eglomise (under painted on glass) panels painted with flowers over a black ground, the lid with split-pearl set borders and bezel. Enamel dial plate finely painted with a country landscape and applied on each side of the dial with a three-coloured gold sitting lady on the right, playing the mandolin, a standing boy on the left beating time in unison.

Philippe Samuel Meylan Born February 15, 1772, in Bas-du-Chenit, died in 1845.

At 20 years old he came to Geneva where he worked for the Godemar Frères in quality of Master worker. Afterwards he went back to Brassus where he founded a little factory in 1811. He then returned to Geneva where he definitively settled. He met another watchmaker from his own village, Isaac Piguet, with whom he entered into partnership, founding the Piguet & Meylan firm, which would last from 1811 to 1828. It specialised in minute cadratures, musical watches, skeleton or automaton watches, mechanical animals and figures, he is also credited with the invention of the bagnolet caliber. Isaac Daniel Piguet. Born in 1775 in Le Chenit in the Vallée de Joux, Isaac Daniel Piguet was the son of Pierre Moïse Piguet and Elisabeth Nicole. He married Jeanne Françoise Capt around 1795, and around 1800 settled in Geneva with his family. Isaac Daniel Piguet went into business with Henry Daniel Capt, his brother-in-law, on February 10, 1802. The association between Piguet & Meylan came to an end in 1828. Piguet and his son David Auguste established a new company, Piguet père & fils, located no 69 rue Jean-Jacques Rousseau. Isaac Daniel Piguet died in Geneva, on January 20, 1841, at the age of 66. he sur plateau musical arrangement, as found in this box, is attributed to Philippe Meylan. The blades are laid out at angles of equal intervals, and they move progressively inward toward the center of the disc. The teeth playing the higher notes, since they are stiffer, are acted upon by the pin near the center of the disc, the lower notes are played by the more easily flexed blades set nearer the periphery of the disc. The number of the blades usually varies between 16 and 27 but usually several notes are duplicated. The present box features Meylan’s invention as well as typical Piguet et Meylan automaton arrangement, with the center-seconds cylinder watch movement set directly on the same plate as the musical one. In addition, the enamel on the dial plate has most of the characteristics found on other Piguet et Meylan dial plates.

Attributed to Piguet & Capt., Switzerland, BASKET OF FLOWERS, made for the Chinese market, circa 1820

 Estimate : 70.000 – 130.000 CHF

Very fine and important, gold and enamel, pearl-set, snuff box with a concealed watch and automaton. Case with three compartments: the central compartment for the snuff, having a lid decorated with a finely painted basket of flowers within a half pearl border. The side compartments with spring-loaded covers, the left one for the automata and the right one for the watch, both covered with predominantly royal blue translucent enamel over ‘sunburst’ engine-turning with borders in white enamel and half pearls, the sides en suite. The bottom painted with a butterfly with open wings in translucent red enamel against royal blue translucent enamel, the same as on the sides, over engine-turning. Under the left lid is an automaton pastoral scene with a shepherdess raising and lowering her hand, feeding a lamb which moves its head up and down; in the front a grazing sheep nods its head and a dog with animated head drinks from a stream running from the mill, with turning waterwheel and a small waterfall simulated by a twisted glass rod. All figures in multicolores gold and silver, set polychrome enamel painted scene over gold. Under the right lid is the watch.

A box of identical shape, with identical automaton and watch movements, was in the Pierpont Morgan Collection, described in the catalogue under No. 85, and is now in the Metropolitan Museum of New York. Another one is preserved in the Sandoz Collection, described by Alfred Chapuis and Edmond Droz in ‘Les Automates’, plate VII and p.180.

Specialised in the production of complicated watches, musical and/or automaton scenes incorporated into watches, snuff-boxes or objects. Among the first in Geneva to use the musical mechanism with pinned cylinder and tuned teeth comb. From Ventôse 16, An X (March 7, 1802), to 1811, Henry-Daniel Capt (1773-1841) formed a partnership with Isaac-Daniel Piguet (1775-1841), who was from the same village – Le Chenit – as he in the Vallée de Joux. Their signature was Piguet & Capt. In 1811, when Piguet broke off to join Philippe-Samuel Meylan (1772-1845) in a new partnership, Henry-Daniel Capt continued to work on his own until, in 1830, he went into partnership with Aubert and Son, Place Bel-Air. Their signature was Aubert & Capt. They were among the first Genevan makers to produce watches with chronograph. In 1844, the workshop was at 108, rue Neuve in Geneva. It was then managed by Capt’s son, Henry Capt Jr. After a short time it moved to 85, rue de la Fusterie, and in 1851, to 177, rue du Rhône. In 1880, the firm was bought by Gallopin and its name became H. Capt Horloger, Maison Gallopin Successeurs, a trademark registered on November 1, 1880, under the No. 44. This signature was only used for watches retailed in their own store, the watches supplied to other retailers being merely signed Henry Capt. Henry-Daniel Capt, along with Isaac-Daniel Piguet and Philippe-Samuel Meylan, was the foremost maker of small musical automata in the late 18th and early 19th centuries. Most of his work is not signed, although he sometimes scratched his name on his movements.

Provenance:

Published in the Sandberg book, pages 418-419. Lot 201 from the Sandberg collection.

Jean-Louis Richter, Switzerland, RICHTER ”RIVERSIDE LANDSCAPE” 18K FOUR-COLOURED GOLD, circa 1830

Estimate : 50.000 – 100.000 CHF

Very fine and important 18K four-coloured gold and enamel, pearl-set musical snuff-box. Rectangular case with canted corners, the enamel panel of the lid with split-pearl set borders, finely painted by Richter with a riverside landscape, a castle and mountains on the back, a rowing boat on the foreground with a family enjoying a nice afternoon. Engine-turned side and back panels with four coloured gold floral and foliage decoration chased over a matted ground.

Jean Louis Richter (1766-1841)

 He learned his art under David-Etienne-Roux and Philippe-Samuel and Theodore Roux, becoming a most renowned enamel painter. His specialty was the painting of landscapes and particularly lake and marine scapes, often representing ships in a harbour or battles with fighting Men-of-war but, on occasion, also portraits and hunting scenes. Although it may happen that his signature, running hand-writing, appears on some of his work, more often than not his paintings are unsigned but can clearly be recognized as being in his hand from the style and duality of the work. He applied his art principally to watch cases and snuff boxes and these were largely destined for the Chinese, Turkish, British and Italian markets. In 1828, he was in partnership with Aimé-Julien Troll (1781-1852) and one can find work signed Richter et Troll.

Richter, like other great enamel painters of the time, often found inspiration for his work from paintings or engravings by the artists then in fashion, particularly Claude Verne,  Van der Myn (1684-1741), Giovanni Battista Cipriani (1727-1785), John Francis Rigaud (1742-1820), John Hoffner (1748-1810) and Francesco Bartolozzi (1727-1815), or even from the romanticised English and Irish rural life or particularly  famous scenes such as the ” Rape of Helen ” from the engraving by Guido Reni (1575-1642), now in the Cabinet des Estampes, Paris.

2022 & 2023 horological birthdays

Marking the end of one celebratory year and the start of another year sure to be even more successful, we wanted to draw a focus on the famous anniversaries illustrated between 2022 and 2023.
Antiquorum results increased significantly in 2020 and 2022 ; 2022 totalizing an auction result of more than CHF 74 million, its best year since 7 years.

Triumph of the Métiers d’Art and independent watchmakers

While 2022 saw the continuation of the Rolex, Patek Philippe and Audemars Piguet (for the Royal Oak) domination on the market in terms of sales volume, it was above all the triumph of the Métiers d’Art and independent watchmakers.

For instance, the beautiful yellow gold Patek Philippe, ref. 715, “Woman with a water jug” by Vermeer, enamel by Suzanne Rohr is a world record for a Suzanne Rohr enamel pocket watch. Initially acquired at the famous Art of Patek Philippe sale in 1989, this pocket watch has remained in the safe of the buyer ever since. He specifically recalls at the time searching for enamel works by Suzanne Rohr but unfortunately none were available at the time so he had to purchase it through our auction. There is no doubt that Suzanne Rohr is known as being one of the most talented enamellers of her generation, having created some of the most exquisite scenes for Patek Philippe. Signed on the enamel 1967, this was the first year of her collaboration with Patek Philippe making it one of the earliest known to the market. Often inspired by paintings from the 1600 and 1700’s such as Cuyp, Guardi, Vernet, Pagnocki, Fragonard, Renoir, this particular example is the only example based on the famous “Woman and the Jug” painted by Vermeer in 1658.

Lot 200 – Geneva auction 7-8 May 2022

The surge in prices of recent years had already begun to stabilize last May and the second semester sales confirmed this. This trend, combined with the complex period we are living through – health, political, economic and ecological crisis …. – is pushing customers to look for refuge values and “coup de coeur”. The focus is on vintage models with stable ratings and modern independent watchmakers. This is demonstrated by the results of our last auctions.

For example, Richard Mille and F.P Journe hold the new records in terms of results per lot. Richard Mille is in the lead, notably with this unique “Skull – Vanitas” piece (lot 373 of the July 2022 Monaco auction), followed by F.P Journe Chronomètre à résonnance, sold for EUR 456,300.00 (lot 370 of the July 2022 Monaco auction). This is a return to the roots of watchmaking. Customers are looking less for investment than for a passion timepiece. Passion will be the most resistant quality to the current market jolts. Among all the challenges facing the watchmaking industry is the need to renew the offer through new complications or technical advances in design and the mastery of new materials. In this case, the RM 52-01 “Skull Tourbillon”, known as “The Vanitas Vanitatum” is a real technical challenge: managing to sculpt a sapphire case of such quality is an outstanding feat.

Lot 370 – Monaco auction July 19 2022

Omega Speedmaster

Omega introduced its first Speedmaster chronograph in 1957, registered under the reference CK2915, the same year as the Railmaster and the Seamaster 300 models. From 1962, NASA acquired several chronographs from famous manufacturers such as Rolex, Hamilton, Longines and Omega. It is only two years later that an official call for tenders is launched. Becoming the symbol of the space conquest, the choice of the Speedmaster was therefore the fruit of a long reflection and heavy specifications from NASA.

Following this heavy heritage, few of the limited editions bring such envy and excitement to collectors as the Apollo Soyuz. Indeed, in July 1975 the USA and the Soviet Union, putting aside their political conflicts, carried out jointly the first international space mission. This was one of the strongest symbol of “détente” during the Cold War.

Few months later, the famous Omega Italian dealer, Fratelli De Marchi, ordered a limited edition of 500 Speedmaster timepieces to commemorate this major event. The Apollo-Soyuz series were based on the legendary 145.022 – which was the first Speedmaster to use the caliber 861, which replaced the revered caliber 321 from the very first models – but featured a slightly modified case and a dial personalized with the Apollo-Soyuz logo. De Marchi became responsible for the whole distribution of Omega watches throughout Italy in 1921. Even if their partnership ended in the late 1970s, it is a milestone in the watchmaking history, since this retailer was originally behind the very first limited series in steel of the brand’s history.

Lot 534 – Geneva 7-8th May 2022

Taking advantage of the excitement generated by this celebration, in 2022, Swatch collaborated with Omega and launched on 26 March 2022 the MoonSwatch, a bioceramic watch that took on the overall design of the Speedmaster. The mania surrounding the launch of this model is arguably one of the most important publicity stunts of the last 20 years.

Audemars Piguet Royal Oak

Same for the Royal Oak, celebrating its 50th anniversary in 2022: the price of this model soared before stabilizing. This is a reflection of the taste for designer watches. Indeed, what makes the Royal Oak so successful is its design. The genius of Gerald Genta (1931-2011) is to have been able to minimise the space, i.e. to flatten the case to the point where it becomes one with the bracelet. It is no longer just a useful object but a piece of jewellery. Collectors are buying a design above all. Moreover, at the time, it was the most expensive steel watch in the world.

Lot 139 – Geneva 5th November 2022

Breitling Navitimer

In 1952, Willy Breitling was contacted by the famous American Aircraft Owners and Pilots Association (AOPA) who asked him to create a new chronograph for its members. The Breitling Navitimer (contraction of navigation and time) was born. Later it was equipped with a 24-hour dial in order to distinguish day and night. On 24 May 1962, a Breitling Navitimer chronograph was the first wristwatch to share in the conquest of space by accompanying the Aurora 7 flight on the wrist of Lt Commander Scott Carpenter. 2022 thus marked a double jubilee for Breitling. In the last November 2022 Geneva auction, a stainless steel Breitling Cosmonaute ref. 809-36 (lot 17) was hammered at CHF 6,875.

Lot 17 – Geneva 5th November 2022

Patek Philippe Calatrava

Another anniversary that did not get much attention was that of the Calatrava, one of Patek Philippe’s most emblematic models. With its timeless design, round, classic and refined, it is an icon of the watchmaking history. Launched in 1932, this model has undergone many evolutions such as the ref. 6000G-010 in white gold one of which was sold for more than 16.000 CHF in Geneva in November.

Lot 191 – Geneva 5th November 2022

2023 – Back to basics

However, 2023 will temper the horological auction results, as in 2021 and 2022, the speculative bubble that agitated the market on certain models, particularly for the “modern”, has burst and will therefore most probably lead to a drop in future results. Part of this speculation had revolved around the anniversaries of iconic models such as the Omega Speedmaster or the Audemars Piguet Royal Oak. Therefore, on the one hand, buyers are seeking refuge in safe values, and on the other hand, they prefer to favour their personal taste over investment. Finally, such a fall is excellent for the education of the collectors’ watchmaking taste. After two years focusing on investment, habits might change as drawn by the revival of the vintage enthusiasm.

The November 2022 Geneva and January 2023 Monaco results suggest that the love for watchmaking history remains intact. Hence, the stainless steel Patek Philippe, ref. 1463, with a  two-tone silver dial and applied Breguet numerals (lot 200 – Geneva November 2022 auction) was acquired for CHF 475,000. The Patek 1463 is the first Patek Philippe waterproof chronograph, produced from the 1940’s. Out of all the variations, the ones in steel with applied Breguet numerals are the most appreciated and collected.

Lot 200 – Geneva 5th November 2022

Sold for more than half a million Euros, the Rolex Antimagnétique ref. 6236 lot illustrates all the expertise and savoir-faire of Rolex, already more than half a century ago. This model was Rolex’s greatest complication for over 50 years. Initially called Dato-Compax, it is nicknamed “Jean-Claude Killy“, after the famous French Olympic skier, three times champion, who wore a Ref. 6236 on his wrist, the last model of the series and, without doubt, the most accomplished.

Lot 226 – Monaco 19th January 2023

But if we were to choose only one, it would be the Rolex Midas of Mr René-Paul Jeanneret. An exceptional watch both in its design and in its history. Part of the “Cellini” collection, legend has it that Gérald Genta (1931-2011) designed this model. In the absence of tangible proof, specialists simply agree that he was involved at some point in the design process. René-Paul Jeanneret worked for Rolex from 1948 to 1978. During his 30-year career, he was Hans Wilsdorf’s right-hand man. As Director of Design and Development, it was he who set up Rolex’s famous line of communication, linking the world of sport and that of watchmaking. A keen diver – he was friends with Cousteau – he participated in the creation of the “Submariner” with Hans Wilsdorf. The two men were very close, so much so that it seems that Hans Wilsdorf was the godfather of Mr Jeanneret’s daughter, Dominique. A piece of history, as rarely seen! It is not surprising that the watch sold for more than double its estimate.

Lot 308 – Monaco 19th July 2022

Anniversaries of sports icons

The next anniversaries to look out for in 2023, will be the Rolex Daytona and the Heuer Carrera, celebrating their 60th birthday. The later already decided to present an anniversary model in a limited edition of 600 pieces, its design inherited from the famous 2447 SN.

Another sports icon, the Blancpain Fifthy Fathoms, the first modern diver’s wristwatch, launched in 1953, will celebrate its 70th jubilee. The brand released a dedicated new model, featuring an exclusive 42 mm diameter and composed of three 70-piece limited series. A 70th anniversary too, for the Rolex Submariner which is perhaps one of if not the most coveted dive watch in the world, and Antiquorum is proud to hold all the world records for the Rolex Submariner COMEX references sold at auction.

Time will tell if these celebrations will durably impact the watch auction market, or not.

THE SYSTEM OFFERS MANY FEATURES TO FACILITATE THE ONLINE BIDDING PROCESS:

• The lot number with its image and description.

• Bid history for all previous bids on the current lot buyers are bidding upon.

• A countdown icon (Adapted to each user’s connection speed) indicating the time left for bidding.

• Access to a HELPLINE in the event of a connection failure.

• Auction monitoring in major currencies.

• View of the paddle number and the location (room or online) of the person bidding at that moment.

Antiquorum’s online interactive bidding system also offers buyers the option to place an online absentee bid. Absentee bids are accepted by the online server up to three hours before the start of the live interactive auction. To help familiarize prospective buyers with Antiquorum’s online bidding system, a bidding simulator is available on www.antiquorum.swiss.

AUCTION PREVIEWS

Previews are conducted by Antiquorum prior to each auction and details of these exhibitions are found at the beginning of every catalogue or online. Previews are open to the public and prospective buyers are encouraged to view and examine lots offered for sale prior to making their purchases.

CURRENCY CONVERSION

Auctions are conducted in Euros in Italy, Monaco, in Swiss Francs in Geneva, and in HK Dollars in Hong Kong. A currency conversion board is made available in each saleroom and online, indicating approximate exchange rates for various major currencies.

BIDDING INCREMENTS

Bidding usually opens below the low estimate figure of each lot and generally advances in increments of 10%, for example

VALUES INCREMENTS*

from Eur 500 to 1,000 by Eur 50

from Eur 1,001 to 2,000 by Eur 100

from Eur 2,001 to 5,000 by Eur 200

from Eur 5,001 to 10,000 by Eur 500

from Eur 10,001 to 20,000 by Eur 1,000

from Eur 20,001 at the auctioneer’s discretion

* The auctionner may adjust the bidding increments at his/her discretion.

SUCCESSFUL BIDS

When the auctioneer’s hammer falls, the final bid has been reached and the auctioneer will record the bidder’s paddle number, or the absentee bid number. If your bids have been successful, you will be notified by means of an invoice sent by e-mail. You are also welcome to call Antiquorum the day after the auction to request the outcome of your bids.

LOTS SOLD WITHOUT RESERVE

When the entire first part of the description is in red, this indicates that the lot is to be sold without reserve, as is also stated beneath or alongside the description.

LOTS FROM OUTSIDE UE

Lots from outside the UE : (identified by an *) are submitted to commissions and taxes:

• If the lot is delivered within the EU : a 20% import VAT is due on the hammer price with buyer’s premium, plus 120€ for termination of temporary export, at buyer’s expense.

• If the lot is delivered outside EU : 120€ for termination of temporary export is due, at buyer’s expense.

SALES RESULT Price lists are made available online at www.antiquorum.swiss approximately 24 hours after the end of each auction.

PAYMENT

Payment for purchased lots at any Antiquorum auction is due within 7 days of the sale date.

• For traditional auctions, in addition to the hammer price, the buyer’s premium for watches and jewels is : 30% including VAT (25% excluding VAT) until € 500000, 24% including VAT (20% excluding VAT) from € 500001 to € 5000000 and 15 % including VAT (12,5% excluding VAT) for all amounts in excess of € 5 000 001.

• Extended payment terms or special credit terms can be arranged on occasion, before the auction.

• For information regarding payment policies: please contact accounting department at Antiquorum Italy, tel. +39 02 876625

PAYMENT METHODS

Payment may be submitted in cash, by wire transfer, check (restrictions apply) or credit card (restrictions apply).

• Wire transfer

Please refer to the wire transfer instructions as shown on your customer invoice.

• There may be administration fee incurred for choosing electronic payment methods.

ONLINE INTERACTIVE AND ABSENTEE BIDDING

Antiquorum’s fully secure online interactive bidding system allows prospective buyers to place interactive bids and absentee bids directly through www.antiquorum. swiss for all traditional auctions worldwide. Especially designed to offer the suspense and excitement of a traditional auction room, Antiquorum’s online interactive bidding system allows buyers worldwide to bid as safely and comfortably as if they were in the saleroom.

COLLECTION

For collection of lots purchased, the buyer will need to contact Antiquorum with instructions. Collection of purchased lots can only take place once the invoice has been paid in full.

For more details, contact Antiquorum Italy:tel. +39 02 876625

email : milan@antiquorum.swiss

The registration process for online interactive bidding and online absentee bidding is similar to that used for traditional telephone and absentee bidding. On Antiquorum’s fully secure website, www.antiquorum.swiss, the following steps must be completed by prospective buyers:

• Register, providing the bidder’s name, address, telephone number, email address, and a requested credit limit for online bid- ding. NOTE: First time bidders are required to provide a valid ID (passport or identity card). In some cases, Antiquorum may impose a credit limit to the online applicant, in which case the amended credit limit will be communicated to the client upon receipt of the registration form.

• Accept Antiquorum’s terms and conditions of sale.

• Condition Reports are given for each lot in the catalogue based on a grading system developed by Antiquorum’s experts. This grading system is explained at the end of the auction catalogue.

• Submit registration form to Antiquorum’s fully secure website.

• Approved bidders will receive an email confirmation with a paddle number and PIN (Personal Identity Number).

Once the auction catalogue is available online, prospective buyers can register or place absentee bids online. Absentee bids are accepted online up until three hours prior to the start of the live interactive auction. On auction day, registered online bidders connect to www.antiquorum.swiss to follow instructions for live interactive bidding.

For collectors who simply want to follow the live auction in progress, no registration is needed to view a live internet broadcast made available on auction day. For additional information about the online bidding system, terms and conditions of use and sale, please visit www.antiquorum.swiss.

ONLINE INTERACTIVE AND ABSENTEE BIDDING

Antiquorum’s fully secure online interactive bidding system allows prospective buyers to place interactive bids and absentee bids directly through www.antiquorum.swiss for all traditional auctions worldwide. Especially designed to offer the suspense and excitement of a traditional auction room, Antiquorum’s online interactive bidding system allows buyers worldwide to bid as safely and comfortably as if they were in the saleroom.

ONLINE BIDDER REGISTRATION

The registration process for online interactive bidding and online absentee bidding is similar to that used for traditional telephone and absentee bidding. On Antiquorum’s fully secure website, www.antiquorum.swiss, the following steps must be completed by prospective buyers:

• Register, providing the bidder’s name, address, telephone number, email address, credit card details. NOTE: First time bidders are required to provide a valid ID (passport, identity card or driver licence) and credit card information.

• Accept Antiquorum’s terms and conditions of sale.

• Submit registration form to Antiquorum’s fully secure website.

• Approved bidders will receive an email confirmation to bid online in the auction.

Once the auction catalogue is available online, prospective buyers can register or place absentee bids online. Absentee bids are accepted online up until three hours prior to the start of the live interactive auction. On auction day, registered online bidders connect to www.antiquorum.swiss to follow instructions for live interactive bidding.

For collectors who simply want to follow the live auction in progress, no registration is needed to view a live internet broadcast made available on auction day. For additional information about the online bidding system, terms and conditions of use and sale, please visit www.antiquorum.swiss.

ONLINE INTERACTIVE AND ABSENTEE BIDDING

Antiquorum’s fully secure online interactive bidding system allows prospective buyers to place interactive bids and absentee bids directly through www.antiquorum. swiss for all traditional auctions worldwide. especially designed to offer the suspense and excitement of a traditional auction room, Antiquorum’s online interactive bidding system allows buyers worldwide to bid as safely and comfortably as if they were in the saleroom.

THE SYSTEM OFFERS MANY FEATURES TO FACILITATE THE ONLINE BIDDING PROCESS:

• The lot number with its image and description.

• Bid history for all previous bids on the current lot buyers are bidding upon.

• Access to a HELP LINE in the event of a connection failure.

• Auction monitoring in major currencies.

Antiquorum’s online interactive bidding system also offers buyers the option to place an online absentee bid. Absentee bids are accepted by the online server up to three hours before the start of the live interactive auction. To help familiarize prospective buyers with Antiquorum’s online bidding system, a bidding simulator is available on www. antiquorum.swiss.

The auction process

The auction process is not as daunting as you may think, especially if you have selected Antiquorum as your auctioneer. Antiquorum and its team of experts strive to help you, the client, buy and sell at auction with ease and confidence. To walk you through the process, Antiquorum has outlined the important steps you should know in order to successfully purchase or consign timepieces at auction.

THE BUYER

Lot descriptions provide technical data carefully compiled by our experts for each lot in the sale and are often enhanced by historical or biographical comments.

• Estimates are listed at the end of each lot description and are an indication of the price range the lot is expected to fetch. Estimates do not include the buyer’s premium or sales

• An estimate indicated by three stars ***, advises clients to contact Antiquorum for more information.

• Condition Reports are given for each lot in the catalogue based on a grading system developed by Antiquorum’s experts. This grading system is explained at the end of the auction catalogue.

• Buyers are advised to read the Conditions of Sale (at the end of the auction catalogue or online) and Important Notices (at the beginning of the auction catalogue or online) before bidding at auction.

• Auction catalogue can be viewed at antiquorum.swiss.

Each client wishing to bid at auction is required to register at the latest two hours before the sale. Client may register the day of the sale, starting one hour before the auction venue. Clients will be able to pick up their bidding paddles on the day of the sale, prior to the auction, just outside the saleroom.

BIDDING IN THE SALEROOM

Lots offered for sale are auctioned in numerical order as they appear in the catalogue. The lot being auctioned is announced by the auctioneer, as well as shown live or illustrated on a screen at the front of the saleroom. Bidders are advised to have the auction catalogue to hand during the sale for reference.

ABSENTEE BIDDING (WRITTEN BIDS)

If you are unable to bid in person at the auction, you can submit an absentee or written bid. Bid forms are found in every auction catalogue, as well as on Antiquorum’s website at www.antiquorum.swiss, and can be requested at preview exhibitions or from any Antiquorum office (see the list of worldwide offices). Bid forms should be completed and signed, then faxed to Antiquorum at fax. +852 2522 4138 or emailed to bids@antiquorum.swiss. E-mail bids can be submitted, but must be followed up with a signed bid form. Absentee bids will be processed on your behalf at auction by Antiquorum’s staff. This service is free of charge and Antiquorum’s staff will execute the bids at the lowest possible price, taking into account the reserve and other bids. Antiquorum cannot be held responsible for errors, omissions or late-arriving bids. In the event that two identical bids are received, the first bid received by Antiquorum will take precedence. It is very important that the bidder lists a daytime telephone number in case any part of the bid form is unclear. It is advisable to send the bid form in good time before the auction, especially in the case of new buyers, whose bank references will be checked. Bids submitted in a foreign currency will be converted to HKD using the exchange rate on the day of the sale.

TELEPHONE BIDS

You may also participate in Antiquorum auctions by telephone. This service is free of charge and telephone bids will be executed by an Antiquorum staff member in the saleroom. All telephone bids must be confirmed in writing on a completed bid form.

Please provide the telephone number(s) at which you can be reached during the sale.

Bid forms should be completed and signed, then fax to Antiquorum at fax. +852 2522 4138 or emailed to bids@antiquorum.swiss at the latest the day before the auction.

Antiquorum cannot be held responsible for errors, ommissions or late arriving telephone bids.

CLIENTS ARE ADVISED TO MAKE ARRANGEMENTS FOR TELEPHONE BIDS AT LEAST TWO DAYS BEFORE THE SALE.

Antiquorum staff member will call you during the auction approximately 3 to 10 lots before the lot(s) on which you wish to bid. Language assistance for telephone bidding is available in English, French, German, Italian, Mandarin, Cantonese and Japanese.

Please note that all bid cancellations must be received in writing.

ONLINE BIDDER REGISTRATION

The registration process for online interactive bidding and online absentee bidding is similar to that used for traditional telephone and absentee bidding. On Antiquorum’s fully secure website, www.antiquorum. swiss, the following steps must be completed by prospective buyers:

• Register, providing the bidder’s name, address, telephone number, email address, credit card details. NOTE: First time bidders are required to provide a valid ID (passport or identity card) and credit card In some case, Antiquorum may impose a credit limit to the online applicant, in which case the amended credit limit will be communicated to the client upon receipt of the registration form.

• Accept Antiquorum’s terms and conditions of

• Condition Reports are given for each lot in the catalogue based on a grading system developed by Antiquorum This grading system is explained at the end of the auction catalogue.

• Submit registration form to Antiquorum’s fully secure

• Approved bidders will receive an email confirmation to bid online in the auction.

Once the auction catalogue is available online, prospective buyers can register or place absentee bids online. Absentee bids are accepted online up until three hours prior to the start of the live interactive auction. On auction day, registered online bidders connect to www.antiquorum.swiss to follow instructions for live interactive bidding.

For collectors who simply want to follow the live auction in progress, no registration is needed to view a live internet broadcast made available on auction day. For additional information about the online bidding system, terms and conditions of use and sale, please visit www.antiquorum.swiss.

ONLINE INTERACTIVE AND ABSENTEE BIDDING

Antiquorum’s fully secure online interactive bidding system allows prospective buyers to place interactive bids and absentee bids directly through www. antiquorum.swiss for all traditional auctions worldwide. especially designed to offer the suspense and excitement of a traditional auction room, Antiquorum’s online interactive bidding system allows buyers worldwide to bid as safely and comfortably as if they were in the saleroom.

THE SYSTEM OFFERS MANY FEATURES TO FACILITATE THE ONLINE BIDDING PROCESS:

• The lot number with its image and description.

• Bid history for all previous bids on the current lot buyers are bidding upon.

• Access to a HELP LINE in the event of a connection

Antiquorum’s online interactive bidding system also offers buyers the option to place an online absentee bid. Absentee bids are accepted by the online server up to three hours before the start of the live interactive auction.

PLEASE NOTE THAT ALL BID CANCELLATION MUST BE RECEIVED IN WRITING.

AUCTION PREVIEWS

Previews are conducted by Antiquorum prior to each auction and details of these exhibitions are found at the beginning of every catalogue or online. Previews are open to the public and prospective buyers are encouraged to view and examine lots offered for sale prior to making their purchases.

CURRENCY CONVERSION

Auctions are conducted in Swiss Francs in Geneva, in HK Dollars in Hong Kong, EURO in Milan and Monaco. A currency conversion board is made available in each saleroom and online, indicating approximate exchange rates for various major currencies.

BIDDING INCREMENTS

Bidding usually opens below the low estimate figure of each lot and generally advances in increments of 10%, for example:

VALUES INCREMENTS*

from HKD 0,000 to 10,000 by HKD 500

from HKD 10,001 to 20,000 by HKD 1,000

from HKD 20,001 to 50,000 by HKD 2,000

from HKD 50,001 to 100,000 by HKD 5,000

from HKD 100,001 at the auctioneer’s discretion

(*) The auctioneer may adjust the bidding increments at his/her discretion.

SUCCESSFUL BIDS

When the auctioneer’s hammer falls, the final bid has been reached and the auctioneer will record the bidder’s paddle number, or the absentee bid number. If your bids have been successful, you will be notified by means of an invoice sent by e-mail. You are also welcome to call Antiquorum the day after the auction to request the outcome of your bids.

LOTS SOLD WITHOUT RESERVE

When the entire first part of the description is in red, this indicates that the lot is to be sold without reserve, as is also stated beneath or alongside the description.

SALES RESULT

Price lists are made available online at www. antiquorum.swiss approximately 24 hours after the end of each auction.

PAYMENT

Payment for purchased lots at any Antiquorum auction is due within 7 days of the sale date.

• For traditional auctions, the buyer’s premium is: 25% of the hammer price on each lot up to and including HKD 8,500,000, 20% from HKD 8,500,001 to HKD 42,500,000 and 15% for all amounts in excess of HKD 42,500,001.

• Extended payment terms or special credit terms can be arranged on occasion.

• For information regarding payment policies: please contact accounting department at Antiquorum Auctioneers (HK) Limited.

•  PAYMENT METHODS Payment may be submitted in cash, by wire transfer, check or credit card. First time buyers are not allowed to use credit card for payment.

•  WIRE TRANSFER Please refer to the wire transfer instructions as shown on your customer invoice.

• CASH is limited to the equivalent of HKD 80,000.

•  CREDIT CARDS: Major credit cards are accepted.

• There may be administration fee incurred for choosing electronic payment methods.

• For buyers having paid by credit card, a shipping delay of 3 to 7 working days may apply in order to do additional

• FPS ID: 164078230

ONLINE INTERACTIVE AND ABSENTEE BIDDING

Antiquorum’s fully secure online interactive bidding system allows prospective buyers to place interactive bids and absentee bids directly through www. antiquorum.swiss for all traditional auctions worldwide. Especially designed to offer the suspense and excitement of a traditional auction room, Antiquorum’s online interactive bidding system allows buyers worldwide to bid as safety and comfortably as if they were in the saleroom.

COLLECTION

For collection of lots purchased, the buyer will need to contact Antiquorum with instructions. Collection of purchased lots can only take place once the invoice has been paid in full.

For more details, contact Antiquorum Auctioneers (HK) Limited, tel. + 852 2522 4168.

SHIPPING & INSURANCE

Winning lots (watches only) are available for pick up at our Hong Kong office for buyers having selected the collect point Hong Kong. All others will be shipped directly to their location as per buyer’s instructions. Please note that buyers are responsible for all shipping fees and any other applicable fees including value added tax, custom duties etc… for importation to their respective countries. 1% of the hammer price plus premium will be charged to cover the insurance liability, as according to law once the hammer falls the buyer is responsible for the insurance of the lot.

Please note Antiquorum is not responsible for shipping clocks, furnitures, voluminous and/or fragile items. Our shipping department will assist you in choosing a third party crating service.

拍賣過程

拍賣過程並非想像中那麼令人生畏，尤其是閣下選擇了安帝古倫作為閣下的拍賣行。安帝古倫拍賣行（Antiquorum）及其專家團隊，致力於幫助閣下（客戶）輕鬆、自信地在拍賣會上進行買賣。為了引導閣下完成整個過程，安帝古倫拍賣行概述了閣下應該了解的重要步驟，以便在拍賣會上成功購買或寄售鐘錶。

買家

拍賣品描述提供了由本公司的專家為以供銷售的每件拍賣品精心編製的技術資料，並且通常附上歷史或傳記評論。

• 估價列於每件拍賣品描述的最末，表明該拍賣品預計可售出的價格範圍。估價不包括買家佣金或銷售稅。
• 附有三顆星***的估價，是建議客戶聯絡安帝古倫以了解更多資訊。
• 拍賣目錄中的每項拍品均會以由安帝古倫專家開發的評級系統為基礎提供品相報告。該評級系統的解釋，見拍賣目錄的最末。
• 請買家注意，在參與拍賣之前，請先閱讀銷售條款（位於本拍賣目錄末頁或見網上版）和重要通知（位於本拍賣目錄的開首或見網上版）。
• 拍賣目錄可瀏覽 antiquorum.swiss。每位希望參加拍賣的客戶，必須最遲在拍賣前

兩小時進行登記。客戶可以在拍賣會當天的現場，於開始前一小時進行現場登記。客戶將於拍賣當天開拍前，在拍賣會場外領取號碼板。

拍賣場競投

待售拍賣品將按照拍賣目錄中所列編號，順序進行拍賣。待售拍賣品將由拍賣官宣讀，並在拍賣場前方的屏幕上作實物展示或圖示。

建議競投者在拍賣期間，翻閱拍賣目錄以作參考。

委託競投（書面競投）

如果閣下無法親自參加拍賣會，可以提交委託競投或書面競投。競投表格可在每本拍賣目錄以及安帝古倫的網站 www.antiquorum.swiss上找到，並且可以在拍賣預展或任何安帝古倫辦事處索取（請參閱全球辦事處列表）。

填妥並經簽署的競投表格，請傳真至安帝古倫

+852 2522 4138 或電郵至 bids@antiquorum. swiss 。

如欲通過電郵提交的競投，必須隨電郵附上經簽署的競投表格。委託競投將由安帝古倫的職員代表閣下在拍賣會上進行競投。

這項服務是免費的，安帝古倫的職員將以盡可能低的價格進行競投，並同時考慮底價和其他競投。安帝古倫不對錯誤、遺漏或遲到的競投承擔責任。如果收到兩個相同的競投，則安帝古倫會以首先收到的第一個競投為優先。競投人必須列出日間的電話號碼，以防競投表格的任何內容不清楚。建議在拍賣前盡早遞交競投表格，尤其是新買家，因其銀行資料將接受檢查。以外幣提交的競投將使用拍賣當天的匯率兌換為港幣。

電話競投

閣下還可以通過電話參與安帝古倫的拍賣。該項服務是免費的，電話競投將由安帝古倫的工作人員在拍賣場內進行。

所有電話競投必須在填妥的競投表格上以書面形式確認。

請提供在銷拍賣期間可以聯絡到閣下的電話號碼。

建議客戶至少在拍賣前兩天安排電話競投。

填妥並經簽署的競投表格，最遲須在拍賣前一天，傳真至安帝古倫 +852 2522 4138 或電郵至 bids@antiquorum.swiss。

安帝古倫不對錯誤、遺漏或遲到的電話競投承擔責任。安帝古倫的職員，將在閣下想要競投的拍賣品約3至10項拍賣品竸拍時，致電閣下。電話競投支援語言包括英語、法語、德語、意大利語、普通話、粵語和日語。

請注意，所有取消競投必須以書面形式提交。

網上競投登記

網上互動競投和網上書面競投的登記過程，與傳統電話和書面競投的登記過程類似。在安 帝古倫全面而安全的網站 www.antiquorum. swiss 上，意向買家必須完成以下步驟：

• 請提供競投者的姓名、地址、電話號碼、電郵地址、信用卡詳情以作登記。註：首次競投者需提供有效的身份證明文件（護照或身份證）。在某些情況下，安帝古倫可能會對網上申請用戶給予信用限額，在這種情況下，本行在收到登記表格後，會將經修改的信用限額通知客戶。
• 接受安帝古倫的銷售條款及細則。
• 拍賣目錄中的每項拍品均會以由安帝古倫專家開發的評級系統為基礎提供品相報告。該評級系統的解釋，見拍賣目錄的最末。
• 將登記表格提交至安帝古倫全面而安全的網站。
• 獲批的競投者將收到電郵確認函，准予於拍賣會進行網上競投。

當拍賣目錄在網上發布，意向買家就可以在網上登記或進行書面競投。網上將接受書 面竸投，直至拍賣開始前三小時為止。拍賣當天，已登記的網上競投者可登入 www.

antiquorum.swiss ，按照實時互動競投的指示進行操作。

對於只想觀看正在進行的現場拍賣的收藏家而言，無須登記即可觀看拍賣當天提供的互聯網直播。有關網上競投系統、使用和銷售條款及細則的更多詳細資料，請瀏覽www. antiquorum.swiss。

網上互動和書面競投

安帝古倫全面而安全的網上互動競投系統允許意向買家直接通過 www.antiquorum.swiss，參與全球所有傳統拍賣場次，進行互動競投和書面競投。該競投系統專為提供傳統拍賣場的緊張和刺激而設計，讓世界各地的買家能夠像置身拍賣現場一樣，安全、舒適地競投。

該系統提供多項功能，使網上競投過程更便利：

• 展示拍賣品編號及其圖片和描述。
• 競投當前拍賣品的買家的所有過往出價記錄。
• 一旦連線因故中斷，將提供電話協助熱線。

安帝古倫的網上互動競投系統更為買家提供網上書面競投服務。網上伺服器將接受網上書面竸投後，直至現場互動拍賣開始前三小時為止。

   請注意，所有競投取消必須以書面形式提交。

拍賣預展

安帝古倫在每次拍賣前都會舉行拍賣預展，拍賣預展的詳情可在每本拍賣目錄的開首或網上找到。拍賣預展向公眾開放，建議意向買家在購買前，先行查看和檢視待售拍賣品。

貨幣轉換

日內瓦的拍賣將以瑞士法郎進行，香港的拍賣將以港元進行，摩納哥及米蘭的拍賣將以歐元進行。每個拍賣場和網上都設有貨幣換算板，顯示各種主要貨幣的大致匯率。

每口叫價

拍賣通常以低於每項拍賣品的最低估價開始接受叫價，並且一般以每口叫價10%遞增，例如：

叫價遞增額*

從港幣0,000元至10,000元，每口叫價港幣500元

從港幣10,001元至20,000元，每口叫價港幣1,000元

從港幣20,001元至50,000元，每口叫價港幣2,000元

從港幣50,001元至100,000元，每口叫價港幣5,000元

從港幣100,001元起，由拍賣官酌情決定

(*) 拍賣官可酌情調整每口叫價金額。

成功競投

當拍賣官落槌時，就達成最終成交價，拍賣官將記錄競投者的號碼板，或書面競投號碼。如果閣下競投成功，將會通過電郵收到付款通知書。

另外，也歡迎閣下在拍賣後次日，致電安帝古倫詢問閣下的競投結果。

無底價出售的拍賣品

當拍品描述的整個第一部分為紅色時，這表明該拍賣品將以無底價方式出售，拍品描述下方或旁邊亦會說明。

拍賣結果

每次拍賣結束後大約24小時，可在

www.antiquorum.swiss 網上查看拍賣結果。

付款

在任何安帝古倫拍賣會上購買的拍賣品，均應在拍賣日期後7天內付款。

• 對於傳統拍賣，買家佣金分別為：落槌價的 25% (適用於落槌價為港幣8,500,000元或以下的每項拍賣品) 落槌價的20%  (適用於落槌價從港幣8,500,001元至港幣42,500,000元的每項拍賣品)以及落槌價的15%(適用於落槌價超過港幣42,500,001元的每項拍賣品)。
• 在個別情況，可以安排延長付款期限或特殊付款條款。
• 有關付款政策的資料：請聯絡安帝古倫拍賣行(香港)有限公司的會計部門
• 支付方式 付款方式可以是現金、電匯、支票或信用卡。首次買家不可使用信用卡付款。
• 電匯: 請參閱客戶付款單上顯示的電匯指示。
• 現金支付限額為港幣80,000元（或等值貨幣）。
• 信用卡：接受主要信用卡。
• 選擇電子支付方式可能會產生行政費用。
• 對於使用信用卡付款的買家，為進行額外的查核，發貨可能會延遲3至7個工作天。
• 轉數快識別碼：164078230

網上互動和書面競投

安帝古倫全面而安全的網上互動競投系統允許意向買家直接通過 www.antiquorum.swiss，參與全球所有傳統拍賣場次，進行互動競投和書面競投。該競投系統專為提供傳統拍賣場的緊張和刺激而設計，讓世界各地的買家能夠像置身拍賣現場一樣，安全、舒適地競投。

提取

如要提取成功投得的拍賣品，買家需聯絡安帝古倫並提出指示。只有支付全數款項後，方可提取所屬拍賣品。

如欲了解更多詳情，請聯絡安帝古倫拍賣（香港）有限公司，電話： + 852 2522 4168。

運輸和保險

選擇香港為提貨地點的買家，可在本公司的香港辦事處領取投得的拍賣品（僅限手錶）。 所有其他拍賣品將根據買家的指示，直接運送到其所在地。請注意，買家須負責支付進口到其各自的國家所有運費和任何其他適用費用，包括增值稅及關稅等。

本行將收取落槌價連佣金的1%以涵蓋保險責任，皆因根據法律規定，當落槌後，買方就有責任為拍賣品承擔保險。

請注意，安帝古倫不負責運送鐘錶、家具、大件和/或易碎物品。本公司的運輸部門將協助閣下選擇第三方裝箱服務。

ONLINE BIDDER REGISTRATION

The registration process for online interactive bidding and online absentee bidding is similar to that used for traditional telephone and absentee bidding. On Antiquorum’s fully secure website, www.antiquorum.swiss, the following steps must be completed by prospective buyers:

• Register, providing the bidder’s name, address, telephone number, email address, and a requested credit limit for online bidding. NOTE: First time bidders are required to provide a valid ID (passport, identity card or driver licence). In some cases, Antiquorum may impose a credit limit to the online applicant, in which case the amended credit limit will be communicated to the client upon receipt of the registration form.

• Accept Antiquorum’s terms and conditions of sale.

• Submit registration form to Antiquorum’s fully secure website.

• Approved bidders will receive an email confirmation with a paddle number and PIN (Personal Identity Number).

Once the auction catalogue is available online, prospective buyers can register or place absentee bids online. Absentee bids are accepted online up until two hours prior to the start of the live interactive auction. On auction day, registered online bidders connect to www. antiquorum.swiss to follow instructions for live interactive bidding.

For collectors who simply want to follow the live auction in progress, no registration is needed to view a live internet broadcast made available on auction day. For additional information about the online bidding system, terms and conditions of use and sale, please visit www.antiquorum. swiss.

ONLINE INTERACTIVE AND ABSENTEE BIDDING

Antiquorum’s fully secure online interactive bidding system allows prospective buyers to place interactive bids and absentee bids directly through www.antiquorum.swiss for all traditional auctions worldwide. Especially designed to offer the suspense and excitement of a traditional auction room, Antiquorum’s online interactive bidding system allows buyers worldwide to bid as safely and comfortably as if they were in the saleroom.

THE SYSTEM OFFERS MANY FEATURES TO FACILITATE THE ONLINE BIDDING PROCESS

• The lot number with its image and description.

• Bid history for all previous bids on the current lot buyers are bidding upon.

• A countdown icon (Adapted to each user’s connection speed) indicating the time left for bidding.

• Access to a HELP LINE in the event of a connection failure.

• Auction monitoring in major currencies, including the bidder’s preferred currency.

• View of the paddle number and the location (room or online) of the person bidding at that moment.

Antiquorum’s online interactive bidding system also offers buyers the option to place an online absentee bid. Absentee bids are accepted by the online server up to two hours before the start of the live interactive auction. To help familiarize prospective buyers with Anti- quorum’s online bidding system, a bidding simulator is available on www.antiquorum.swiss.