Finews.asia looks back on some of the highlights in the world of luxury watches, art, and collectibles.
Art, luxury watches, and rare collectibles are more than just nice things to own and look at. They can also provide outsized investment returns. Some luxury firms are even taking a private equity approach toward expanding their businesses. Here are some of the stories finews.asia brought last year:
Shot Sage Blue Marilyn
Andy Warhol's Shot Sage Blue Marilyn (Image: Christie's)
A work produced in a «factory» becomes the most expensive artwork from the 20th century to be sold at auction. Andy Warhol's iconic «Shot Sage Blue Marilyn» portrait of Marilyn Monroe fetched $195 million at a Christie’s auction held in May, with the proceeds going to a Swiss foundation benefitting children around the world.
The work was the final item to come under the hammer at Christie's as part of the «Collection of Thomas and Doris Ammann Evening Sale», with the auction being held for the collection of the Amman's, sibling co-founders of Thomas Ammann Fine Art in Zurich.
All I want for Christmas is a Patek
(Image: Christie's)
Just in time for Christmas, Christie's in New York conducted a live auction comprising 17 lots of vintage and modern timepieces from among the most desirable brands in the world.
One of the highlights among vintage watches was a rare 18k rose gold wristwatch (pictured above) with a cloisonné enamel dial featuring a Viking longship, manufactured in 1950. Today, most of the vintage wristwatches by Patek Philippe fitted with such dials are either in private collections or permanently showcased in the firm’s museum in Geneva, and rarely come up for auction. The hammer came down at $252,000, falling within the estimated price range of $200,000-$400,000, according to Christie's.
Battered But Unique Rolex
Rolex Military Submariner «MilSub» (Image: Bonhams)
A Rolex wristwatch issued to the Royal Navy and used by a diver came up for sale in June. Although missing its bezel, the unique Rolex Military Submariner «MilSub», was expected to fetch the current owner, a professional diver, between £80,000 and £120,000 ($97,600 to $146,00), according to Bonhams. When bidding closed, the timepiece sold for £195,600 ($236,300).
The watches were commissioned by the Royal Navy in the 1970s with enhancements making them more robust than those sold commercially. For one, the hands were changed to so-called «sword hands» to make them more legible. Also setting it apart is a «T» on the dial signifying it is illuminated with tritium, the radioactive isotope of hydrogen.
Watchmakers do Private Equity
Breitling watch movement (Image: Breitling)
Zug-based Partners Group acquired a majority stake in Swiss luxury watch brand Breitling with an IPO planned for 2027.
Having built up a minority stake in Breitling through its private market funds in the fall of 2021, Partners Group plans to acquire a 50.3 percent majority stake in the luxury watchmaker. Financial investor CVC, which has held a stake in Breitling since 2017, would still hold 23.6 percent of the watchmaker after the change.
Another private equity partnership was concluded by two Geneva-based family businesses, with exclusive watchmaker Patek Philippe taking a stake in Salanitro, a firm offering bespoke design services for watch cases, bracelets, and dials.
Founded over three decades ago by Pierre Salanitro, who still serves as the president and CEO, the eponymous firm provides services to more than 40 leading Swiss watch brands, according to the company's website. It all started when he passed by a diamond workshop in Geneva where he saw setters at work and became mesmerized by the art of stone setting. He persuaded the workshop to take him on as an apprentice so he could hone his skills.
Swinging for the Fences
A 1952 baseball card of baseball player Mickey Mantle purchased for $50,000 in 1991 was put up for sale in August, with the winning bid coming in at $12.5 million, according to «Forbes».
So great have been the returns on baseball cards that Valt, an alternative investment start-up, bundles collectibles for investors who want to own shares of Babe Ruth baseball cards. An index tracking baseball cards is up 1,000 percent since 2021 alone.
Queen Elizabeth and a Rare Coin of the Realm
Silver 5 Pound Coin: Una and the Lion (Image: Rapp)
The popularity of the recently deceased British Queen Elizabeth II is also reflected in the numismatic world. The value of a fabled silver coin is expected to fetch a record at an upcoming auction.
Collectible coins with the Queen's image have always been sought after, but this particular one seems to be more than that. The fact that such a rare coin with the portrait of Queen Elizabeth II was recently consigned to the Rapp auction house in Wil, in the canton of St. Gallen, Switzerland particularly moved owner Marianne Rapp Ohmann.
The numismatic world is probably one of the oldest markets for collectibles.
