I did choose to be very optimistic in my story last week about the astounding Vacheron Constantin Tour de L’Ile reaching a cool record $3 million to kick off a healthy 2021. The estimate was set at Antiquorum’s Important Modern & Vintage Timepieces in Monaco to a spread of $1.8 – $3 million. But the watch didn’t make it – far from it, in fact – ending up selling for a paltry $1.2 million plus buyer’s premium. This begs the questions: are we merely looking at early signs of a fickle market in this astronomical price range? Or does this suggest another year of tumbling auction sales? This VC sold for $2.1 million when it was produced, bearing in mind that at that time is was the most complicated men’s wristwatch ever made. Having just sold for less than $1.5 million, in the world of uber complex Haute Horlogerie this surely constitutes a bargain? Relatively speaking, of course. As in selling all the houses of my close family might make me able to afford said bargain. Yet analysing the other top lots in this Antiquorum auction, the market ultimately still seems healthy if slightly unpredictable, and maybe in a transformative phase…
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